Indebtedness to EBITDA Ratio. As at any date of determination, the ratio of (a) Indebtedness of the applicable (x) Discretionary Transferee or Parent Company of the Discretionary Transferee or (y) in the case of a Permitted Leasehold Mortgagee Foreclosing Party, the Permitted Leasehold Mortgagee Foreclosing Party (such Discretionary Transferee, Parent Company or Permitted Leasehold Mortgagee Foreclosing Party, as applicable the “Relevant Party”) on a consolidated basis, as of such date (excluding (i) Indebtedness of the type referenced in clauses (e) or (f) of the definition of Indebtedness or Indebtedness referred to in clauses (d) or (g) of the definition of Indebtedness to the extent relating to Indebtedness of the type referenced in clauses (e) or (f) of the definition of Indebtedness, to (b) EBITDA for the Test Period most recently ended prior to such date for which financial statements are available. For purposes of calculating the Indebtedness to EBITDA Ratio, EBITDA shall be calculated on a pro forma basis (and shall be calculated, except for pro forma adjustments reasonably contemplated by the potential transferee which may be included in such calculations, otherwise in accordance with Regulation S-X under the Securities Act) to give effect to any material acquisitions and material asset sales consummated by the Relevant Party and its Subsidiaries since the beginning of any Test Period of the Relevant Party as if each such material acquisition had been effected on the first day of such Test Period and as if each such material asset sale had been consummated on the day prior to the first day of such period. In addition, for the avoidance of doubt, (i) if the Relevant Party or any Subsidiary of the Relevant Party has incurred any Indebtedness or repaid, repurchased, acquired, defeased or otherwise discharged any Indebtedness since the end of the most recent Test Period for which financial statements are available, Indebtedness shall be calculated (for purposes of this definition) after giving effect on a pro forma basis to such incurrence, repayment, repurchase, acquisition, defeasance or discharge and the applications of any proceeds thereof as if it had occurred prior to the first day of such Test Period and (ii) the Indebtedness to EBITDA Ratio shall give pro forma effect to the transactions whereby the applicable Discretionary Transferee becomes party to the Master Lease or the Change in Control transactions permitted under Section 22.2(iii) and shall include the Indebtednes...
Indebtedness to EBITDA Ratio. As of any date of determination, the Parent will not permit the ratio of (i) its total consolidated Indebtedness as of the last day of the fiscal quarter immediately preceding the date of determination to (ii) its consolidated EBITDA for the twelve month period ending on the last day of the quarter immediately preceding the date of determination, calculated on a rolling twelve (12) month basis, to be greater than (A) 4.0 to 1.0 from the Effective Date through December 31, 1997, (B) 3.5 to 1.0 from January 1, 1998 through June 30, 1998, (C) 3.0 to 1.0 from July 1, 1998 through June 30, 1999, (D) 2.75 to 1.0 from July 1, 1999 through June 30, 2000, and (E) 2.5 to 1.0 from July 1, 2000 through the Termination Date.
Indebtedness to EBITDA Ratio. The Borrower will not permit its ratio of Indebtedness to EBITDA (calculated quarterly at the end of each Fiscal Quarter on a rolling four quarter basis) to exceed 3.0 to 1.0 at any time.
Indebtedness to EBITDA Ratio. Borrower shall maintain a ratio of Indebtedness to EBITDA (with Indebtedness being determined as of the end of the most recently completed fiscal quarter, and with EBIDTA being determined for the four most recently completed fiscal quarters, and, if Borrower then has any Subsidiaries, on a consolidated basis) of not more than each of the following at all times during and at all times thereafter the applicable time period listed:
Indebtedness to EBITDA Ratio. Permit the Indebtedness to EBITDA Ratio to exceed 2.00 to 1.0 at any time.
Indebtedness to EBITDA Ratio. The Borrower ---------------------------- shall not permit the ratio of the Indebtedness of the Borrower to EBITDA for any period of four (4) consecutive fiscal quarters (taken as one accounting period) beginning with the period of four (4) consecutive fiscal quarters ended September 30, 1996 and ending with the period of four (4) consecutive fiscal quarters ended December 31, 1998, to be greater than 1.5:1.
15. Section 5.3(b) of the Credit Agreement is hereby amended by inserting the following proviso at the end thereof: ; provided, however, that, on or before November 20, 1996 the -------- ------- Borrower shall, and shall cause each of its Subsidiaries to, change the opening and closing dates of its fiscal year to January 1 and December 31, respectively.
Indebtedness to EBITDA Ratio. Base Margin Commitment Fee Eurodollar Rate Margin ----------------------------- ----------- -------------- ---------------------- Greater than or equal to 3.00 2.00% 0.500% 3.50% Greater than or equal to 2.50 but less than 3.00 1.50% 0.500% 3.00% Greater than or equal to 2.00 but less than 2.50 1.00% 0.500% 2.50% Greater than or equal to 1.50 but less than 2.00 0.50% 0.500% 2.00% Less than 1.50 0.00% 0.375% 1.50%
Indebtedness to EBITDA Ratio. Borrower, on a consolidated basis, shall not permit the ratio of (i) Indebtedness of Borrower, on a consolidated basis, to (ii) EBITDA of Borrower, on a consolidated basis, each calculated as of the last day of each fiscal quarter set forth below, to be greater than the ratio set forth below for such period: Quarter Ratio for Rolling Twelve Months ------- ------------------------------- June 30, 2002 1.85 September 30, 2002 1.75 December 31, 2002 1.50 March 31, 2003 1.35 June 30, 2003 1.35 September 30, 2003 1.35 December 31, 2003 1.35 March 31, 2004 1.35 June 30, 2004 1.35 September 30, 2004 1.35 December 31, 2004 1.35 March 31, 2005 1.35
Indebtedness to EBITDA Ratio. Borrower will not at any time permit its Indebtedness to EBITDA ratio to exceed the ratio set forth below for Indebtedness as calculated on the date below and for EBITDA calculated based on a trailing twelve month period from the date set forth below: Determination Date Ratio 6/30/01 3.50 : 1 9/30/01 3.50 : 1 12/31/01 3.50 : 1 3/31/02 3.50 : 1 6/30/02 3.25 : 1 9/30/02 3.25 : 1 12/31/02 3.00 : 1 3/31/03 3.00 : 1 6/30/03 2.75 : 1 9/30/03 2.75 : 1 12/31/03 2.50 : 1 3/31/04 2.50 : 1 6/30/04 2.50 : 1
Indebtedness to EBITDA Ratio. The following amounts ---------------------------------------- shall be determined for the period of four fiscal quarters ended as of the end of the Fiscal Quarter.
(1) Net income (loss) of the Company and its $_________________ Consolidated Subsidiaries (2) Interest Expense of the Company and its $_________________ Consolidated Subsidiaries (3) Income taxes $_________________ (4) Depreciation and amortization expense $_________________ (5) Extraordinary gain (loss) $_________________ (6) EBITDA (the sum of items (1) through $_________________ (4) minus (5)) (7) Indebtedness (item A(12) above) $_________________ (8) Indebtedness to EBITDA Ratio __________________ ((7) divided by (6)) (9) Required Indebtedness to EBITDA Ratio __________________ pursuant to Section 9.2
