Gearing. The Company must ensure that the ratio of Consolidated Total Net Borrowings (as at each Testing Date) to Consolidated EBITDA (for the Measurement Period ending on that Testing Date) is not more than 3:1.
Appears in 3 contracts
Samples: Term and Revolving Facilities Agreement (Smith & Nephew PLC), Facility Agreement (Smith & Nephew PLC), Loan Agreement (Smith & Nephew PLC)
Gearing. The Company must ensure that the ratio of Consolidated Total Net Borrowings (as at each Testing Dateincluding all Loans disbursed and outstanding) to Consolidated EBITDA (for is not, at the end of each Measurement Period ending on that Testing Date) is not more Period, greater than 3:12.5 to 1.
Appears in 3 contracts
Samples: Facilities Agreement (Mittal Steel Co N.V.), Facilities Agreement (Mittal Steel Co N.V.), Bridge Facility Agreement (Mittal Steel Co N.V.)
