Common use of Guarantor Covenant Clause in Contracts

Guarantor Covenant. Until all of the Obligations have been paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------ Period Ratio ------------------------------------------------------------------------ Stage 2 Effective Date through 06/30/2003 10.00 to 1.00 07/01/2003 through 09/30/2003 8.00 to 1.00 10/01/2003 through 12/31/2003 6.50 to 1.00 01/01/2004 through 03/31/2004 5.50 to 1.00 04/01/2004 through 06/30/2004 5.00 to 1.00

Appears in 1 contract

Samples: Choice One Communications Inc

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Guarantor Covenant. Until all of the Obligations have been ------------------ paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------ ------------------------------------------------------------------------------- Period Ratio ------------------------------------------------------------------------ ------------------------------------------------------------------------------- Stage 2 Effective Date through 06/30/2003 06/29/2004 10.00 to 1.00 07/01/2003 06/30/2004 through 09/30/2003 06/29/2005 8.00 to 1.00 10/01/2003 06/30/2005 through 12/31/2003 6.50 06/29/2006 6.00 to 1.00 01/01/2004 through 03/31/2004 5.50 06/30/2006 and thereafter 4.00 to 1.00 04/01/2004 through 06/30/2004 5.00 to 1.00-------------------------------------------------------------------------------

Appears in 1 contract

Samples: Credit Agreement (Choice One Communications Inc)

Guarantor Covenant. Until all of the Obligations have been ------------------ paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------ ------------------------------------------------- Period Ratio ------------------------------------------------------------------------ ------------------------------------------------- Stage 2 Effective Date through 06/30/2003 10.00 to 1.00 07/01/2003 6/29/2003 10.00x 6/30/2003 through 09/30/2003 8.00 to 1.00 10/01/2003 12/30/2003 9.00x 12/31/2003 through 12/31/2003 6.50 to 1.00 01/01/2004 6/30/2004 8.00x ------------------------------------------------- ------------------------------------------------- 6/29/2004 through 03/31/2004 5.50 to 1.00 04/01/2004 through 06/30/2004 5.00 to 1.0012/30/2004 7.00x 12/31/2004 and thereafter 6.00x -------------------------------------------------

Appears in 1 contract

Samples: Credit Agreement (Choice One Communications Inc)

Guarantor Covenant. Until all of the Obligations have been paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------ ---------------------------------------------------------- Period Ratio ------------------------------------------------------------------------ ---------------------------------------------------------- Stage 2 Effective Date through 06/30/2003 06/29/2004 10.00 to 1.00 07/01/2003 06/30/2004 through 09/30/2003 06/29/2005 8.00 to 1.00 10/01/2003 06/30/2005 through 12/31/2003 6.50 06/29/2006 6.00 to 1.00 01/01/2004 through 03/31/2004 5.50 06/30/2006 and thereafter 4.00 to 1.00 04/01/2004 through 06/30/2004 5.00 to 1.00---------------------------------------------------------- 18

Appears in 1 contract

Samples: Choice One Communications Inc

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Guarantor Covenant. Until all of the Obligations have been paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------ --------------------------- ------------------------------------------- Period Ratio ------------------------------------------------------------------------ --------------------------- ------------------------------------------- Stage 2 Effective Date through 06/30/2003 10.00 to 1.00 07/01/2003 through 09/30/2003 8.00 to 1.00 10/01/2003 through 12/31/2003 6.50 to 1.00 01/01/2004 through 03/31/2004 5.50 to 1.00 04/01/2004 through 06/30/2004 5.00 to 1.001.00 07/01/2004 and 4.00 to 1.00 thereafter --------------------------- -------------------------------------------

Appears in 1 contract

Samples: Loan Documents (Choice One Communications Inc)

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