Gearing. The Company must ensure that the ratio of (1) Consolidated Total Net Borrowings to (2) Consolidated EBITDA on the last day of each Measurement Period is less than or equal to 3.0:1.
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Samples: Junior Credit Agreement (Endeavour International Corp), Secured Revolving Loan and Letter of Credit Facility Agreement (Endeavour International Corp), Junior Facility Agreement (Endeavour International Corp)
Gearing. The Company must ensure that the ratio of (1) Consolidated Total Net Borrowings to (2) Consolidated EBITDA on the last day of each Measurement Period ending on or after 31 December 2007 to Consolidated EBITDA for that Measurement Period is less not more than or equal to 3.0:13:1.
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