Indebtedness to EBITDA. No Consignee will, and where applicable, will not permit its Subsidiaries to permit the ratio of (i) the aggregate principal amount of all Indebtedness for Borrowed Money of the Parent and its Subsidiaries on a consolidated basis as of any fiscal quarter ending date set forth in the table below to (ii) Consolidated EBITDA of the Parent and its Subsidiaries for the period of four consecutive fiscal quarters ending on such fiscal quarter ending date in such table, to exceed the ratio set forth opposite such date in such table; Fiscal Quarter Ending Date: Ratio: ----------- ----- 1/31/01 3.85:1 4/30/01 4.95:1 7/31/01 4.95:1 10/31/01 4.73:1 1/31/02 3.52:1 4/30/02 4.95:1
Indebtedness to EBITDA. No Consignee will, and where applicable, will not permit its Subsidiaries to permit the ratio of (i) the aggregate principal amount of all Indebtedness for Borrowed Money of the Parent and its Subsidiaries on a consolidated basis as of any fiscal quarter ending date set forth in the table below to (ii) Consolidated EBITDA of the parent and its Subsidiaries for the period of four consecutive fiscal quarters ending on such fiscal quarter ending date in such table, to exceed the ratio set forth opposite such date in such table:
Indebtedness to EBITDA. Borrowers and their Subsidiaries shall have on a consolidated basis, as of the last day of each Fiscal Quarter a ratio of (i) the sum of (x) the daily average amount of Revolving Loans for the 30-day period preceding the last day of such Fiscal Quarter and (y) the amount of other Indebtedness as of the last day of such Fiscal Quarter to (ii) EBITDA plus interest income for the four Fiscal Quarters then ending of not greater than 3.0:1.
Indebtedness to EBITDA. Permit the Borrower’s Indebtedness to EBITDA Ratio as of the end of any fiscal quarter to be greater than 3.0:1.
Indebtedness to EBITDA. The Company will not permit the ratio of the consolidated Indebtedness of the Company and its Subsidiaries for the 12-month period ending on the last day of each fiscal quarter listed below to the sum of EBITDA plus interest income for the 12-month period ending on the last day of such fiscal quarter to be greater than the ratio specified for such quarter below, all calculated in accordance with GAAP:
Indebtedness to EBITDA. A ratio of (a) Total Debt to (b) EBITDA of not greater than the ratio set forth in the following table for the applicable period set forth opposite thereto: ------------------------------------------------------------------------ Applicable Ratio Applicable Period ------------------------------------------------------------------------ 336:1 For the 3 month period ending March 31, 2002 ------------------------------------------------------------------------ 72:1 For the 6 month period ending June 30, 2002 ------------------------------------------------------------------------ 44:1 For the 9 month period ending September 30, 2002 ------------------------------------------------------------------------ 33:1 For the 12 month period ending December 31, 2002 ------------------------------------------------------------------------ 30:1 For the 12 month period ending March 31, 2003 ------------------------------------------------------------------------ 26:1 For the 12 month period ending June 30, 2003 ------------------------------------------------------------------------ 22:1 For the 12 month period ending September 30, 2003 ------------------------------------------------------------------------ -90- ------------------------------------------------------------------------ 18:1 For the 12 month period ending each fiscal quarter thereafter ------------------------------------------------------------------------
Indebtedness to EBITDA. Permit the ratio of (i) total Indebtedness of Lessee and its Subsidiaries on a consolidated basis at any date during a period set forth below to (ii) EBITDA of Lessee and its Subsidiaries on a consolidated basis for the period of four consecutive fiscal quarters most recently ended prior to such date for which Lessee has delivered the financial statements contemplated by Section 5.10(a) or (b), as the case may be, to be greater than the ratio set forth below opposite the "Test Period" during which such date occurs: Test Period Ratio Documentation Date 01/01/98- 03/31/98 3.40 to 1.0 04/01/98- 06/30/98 3.25 to 1.0 07/01/98- thereafter 3.00 to 1.0
Indebtedness to EBITDA. Permit the ratio of (i) total Indebtedness of the Company and its Subsidiaries on a consolidated basis at any date minus cash and cash equivalents then held by the Company and its Subsidiaries to (ii) EBITDA of the Company and its Subsidiaries on a consolidated basis for the period of four consecutive fiscal quarters most recently ended prior to such date for which the Company has delivered the financial statements contemplated by subsection 9.1(a) or (b), as the case may be, to be greater than the ratio set forth below opposite the "Test Period" during which such date occurs: Test Period Ratio ----------- ----- Closing Date - 09/30/97 3.75 to 1.0 10/01/97 - 12/30/97 3.50 to 1.0 12/31/97 - 03/31/98 3.40 to 1.0 04/01/98 - 06/30/98 3.25 to 1.0 07/01/98 - 12/31/99 3.50 to 1.0 01/01/00 - 03/31/00 3.25 to 1.0 04/01/00 - thereafter 3.00 to 1.0.
Indebtedness to EBITDA. Borrower and its Subsidiaries shall have on a consolidated basis, as of the last day of each Fiscal Quarter a Leverage Ratio of not greater than the ratio set forth below opposite such Fiscal Quarter: Annex G-3 Fiscal Quarter Ending Ratio June 30, 2005 3.10:1 September 30, 2005 3.10:1 December 31, 2005 3.10:1 March 31, 2006 3.20:1 June 30, 2006 2.85:1 September 30, 2006 2.75:1 December 31, 2006 2.70:1 March 31, 2007 2.65:1 June 30, 2007 2.25:1 September 30, 2007 2.15:1 December 31, 2007 2.10:1 March 31, 2008 2.05:1 June 30, 2008 1.80:1 September 30, 2008 1.75:1 December 31, 2008 1.70:1 March 31, 2009 1.65:1 June 30, 2009 1.40:1 September 30, 2009 1.35:1 December 31, 2009 1.30:1 March 31, 2010 and each Fiscal Quarter ending thereafter 1.25:1 The parties hereto agree that solely for the purposes of this clause (f), for each Fiscal Quarter set forth below, the EBITDA of the Borrower and its Subsidiaries shall be deemed to be the amount set forth opposite such Fiscal Quarter set forth below: Fiscal Quarter Ending EBITDA March 31, 2005 $ 12,165,938 December 31, 2004 $ 12,165,938 September 30, 2004 $ 12,165,938 In addition, solely for the purposes of this clause (f) EBITDA for the month of April 2005 shall mean the actual EBITDA for the month of April 2005 plus $1,141,439. Unless otherwise specifically provided herein, any accounting term used in the Agreement shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP consistently applied. That certain items or computations are explicitly modified by the phrase “in accordance with GAAP” shall in no way be construed to limit the foregoing. If any “Accounting Changes” (as defined below) occur and such changes result in a change in the calculation of the financial covenants, standards or terms used in the Agreement or any other Loan Document, then Borrower, Agent and Lenders agree to enter into negotiations in order to amend such provisions Annex G-4
Indebtedness to EBITDA. Borrowers shall maintain a ratio of Indebtedness to EBITDA of not more than 3.5 to 1.0 as of the end of each fiscal quarter of Borrowers, commencing with the fiscal quarter ending March 31, 1996, as determined on a rolling four (4) quarters basis.
