Common use of Funded Debt to EBITDA Ratio Clause in Contracts

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarter, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio December 31, 2003 6.00 to 1; March 31, 2004 7.00 to 1; June 30, 2004 and September 30, 2004 6.30 to 1; December 31, 2004 5.60 to 1; March 31, 2005 5.60 to 1; June 30, 2005 5.00 to 1; September 30, 2005 4.50 to 1; December 31, 2005 4.50 to 1; and March 31, 2006 and each quarter thereafter 3.75 to 1.

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarter, based on two the most recent: (i) four fiscal quarters for then ended with respect to the quarter ended test period ending December 31, 20032004; (ii) two fiscal quarters then ended annualized with respect to the test period ending June 30, based on 2005; (iii) three fiscal quarters for then ended annualized with respect to the quarter ended March 31test period ending September 30, 2004 2005; and thereafter based on the (iv) most recent four fiscal quarters then ended (using an annualized calculation of EBITDA with respect to the test period ending December 31, 2005 and for quarters ending on or before June 30, 2004) each test period thereafter not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio December 31, 2003 6.00 2004 7.70 to 1; March 31, 2004 7.00 to 1; June 30, 2004 and September 30, 2004 6.30 to 1; December 31, 2004 5.60 to 1; March 31, 2005 5.60 to 11.00; June 30, 2005 5.00 7.20 to 11.00; September 30, 2005 4.50 6.20 to 11.00; December 31, 2005 5.25 to 1.00; March 31, 2006 5.00 to 1.00; June 30, 2006 4.50 to 11.00; September 30, 2006 4.25 to 1.00; December 31, 2006 4.00 to 1.00; and March 31, 2006 2007 and each quarter thereafter 3.75 to 1.1.00

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarterquarter based on a single quarter for the quarter ended September 30, 2003, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to ------ -------------- EBITDA Ratio ------------ June 30, 2003 6.60 to 1; September 30, 2003 6.00 to 1; December 31, 2003 6.00 5.00 to 1; March 31, 2004 7.00 5.50 to 1; June 30, 2004 and 5.25 to 1; September 30, 2004 6.30 to 1; and December 31, 2004 5.60 4.50 to 1; March 31, 2005 5.60 to 1; June 30, 2005 5.00 to 1; and each quarter through September 30, 2005 4.50 4.25 to 1; and December 31, 2005 4.50 to 1; and March 31, 2006 and each quarter thereafter 3.75 to 1.

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarterquarter based on a single quarter for the quarter ended September 30, 2003, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio September 30, 2003 6.75 to 1; December 31, 2003 6.00 5.20 to 1; March 31, 2004 7.00 5.50 to 1; June 30, 2004 and 5.25 to 1; September 30, 2004 6.30 to 1; and December 31, 2004 5.60 4.50 to 1; March 31, 2005 5.60 to 1; June 30, 2005 5.00 to 1; and each quarter through September 30, 2005 4.50 4.25 to 1; and December 31, 2005 4.50 to 1; and March 31, 2006 and each quarter thereafter 3.75 to 1.

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarter, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio December 31, 2003 6.00 to 1; March 31, 2004 7.00 to 1; June 30, 2004 and September 30, 2004 6.30 7.90 to 1; December 31, 2004 5.60 7.60 to 1; March 31, 2005 5.60 7.60 to 1; June 30, 2005 5.00 7.20 to 1; September 30, 2005 4.50 6.20 to 1; December 31, 2005 5.25 to 1; March 31, 2006 5.00 to 1; June 30, 2006 4.50 to 1; September 30, 2006 4.25 to 1; December 31, 2006 4.00 to 1; and March 31, 2006 2007 and each quarter thereafter 3.75 to 1.

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarter, based on the most recent: (i) two fiscal quarters for then ended annualized with respect to the quarter test period ending June 30, 2005; (ii) three fiscal quarters then ended December 31annualized with respect to the test period ending September 30, 2003, based on three quarters for the quarter ended March 31, 2004 2005; and thereafter based on the (iii) most recent four fiscal quarters then ended (using an annualized calculation of EBITDA with respect to the test period ending December 31, 2005 and for quarters ending on or before June 30, 2004) each test period thereafter not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio December 31, 2003 6.00 to 1; March 31, 2004 7.00 to 1; June 30, 2004 and September 30, 2004 6.30 to 1; December 31, 2004 5.60 to 1; No requirement March 31, 2005 5.60 to 1; No requirement June 30, 2005 5.00 7.20 to 11.00; September 30, 2005 4.50 6.20 to 11.00; December 31, 2005 5.25 to 1.00; March 31, 2006 5.00 to 1.00; June 30, 2006 4.50 to 11.00; September 30, 2006 4.25 to 1.00; December 31, 2006 4.00 to 1.00; and March 31, 2006 2007 and each quarter thereafter 3.75 to 1.1.00

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarterquarter based on a single quarter for the quarter ended September 30, 2003, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to EBITDA Ratio September 30, 2003 6.60 to 1; December 31, 2003 6.00 5.20 to 1; March 31, 2004 7.00 5.50 to 1; June 30, 2004 and 5.25 to 1; September 30, 2004 6.30 to 1; and December 31, 2004 5.60 4.50 to 1; March 31, 2005 5.60 to 1; June 30, 2005 5.00 to 1; and each quarter through September 30, 2005 4.50 4.25 to 1; and December 31, 2005 4.50 to 1; and March 31, 2006 and each quarter thereafter 3.75 to 1.

Funded Debt to EBITDA Ratio. Cause to be maintained a Funded Debt to EBITDA Ratio for Radnor on a Consolidated Basis to be calculated at the end of each fiscal quarter, based on a single quarter for the quarter ended September 30, 2003, based on two quarters for the quarter ended December 31, 2003, based on three quarters for the quarter ended March 31, 2004 and thereafter based on the most recent four fiscal quarters then ended (using an annualized calculation of EBITDA for quarters ending on or before June 30, 2004) not greater than the amounts set forth below for the periods set forth below: Period Funded Debt to Period EBITDA Ratio ------ ------------ September 30, 2003 6.75 to 1; December 31, 2003 6.00 5.20 to 1; March 31, 2004 7.00 5.20 to 1; June 30, 2004 and 5.10 to 1; September 30, 2004 6.30 to 1; and December 31, 2004 5.60 4.50 to 1; March 31, 2005 5.60 to 1; June 30, 2005 5.00 to 1; and each quarter through September 30, 2005 4.50 4.25 to 1; and December 31, 2005 4.50 to 1; and March 31, 2006 and each quarter thereafter 3.75 to 1.