Interest Cover. The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, commencing 31 March 2005, by reference to the financial statements referred to in Clauses 17.2 (Audited Accounts) and 17.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year. Date (12 month period ending on:) Ratio 31 March 2005 1.2:1 30 September 2005 1.6:1 31 March 2006 2.5:1 30 September 2006 2.5:1 31 March 2007 2.5:1 30 September 2007 2.5:1 31 March 2008 2.5:1
Appears in 1 contract
Samples: Transfer Agreement (Alstom)
Interest Cover. The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, commencing 31 March 2005, by reference to the financial statements referred to in Clauses 17.2 18.2 (Audited Accounts) and 17.3 18.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year. Date (12 month period ending on:) Ratio 31 March 2005 1.2:1 30 September 2005 1.6:1 31 March 2006 2.5:1 30 September 2006 2.5:1 31 March 2007 2.5:1 30 September 2007 2.5:1 31 March 2008 2.5:1
Appears in 1 contract
Samples: Agreement (Alstom)
Interest Cover. The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, year commencing 31 March 20052004, by reference to the financial statements referred to in Clauses 17.2 18.2 (Audited Accounts) and 17.3 18.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year. Date (12 month period ending on:) Ratio 31 March 2004 1.8:1 30 September 2004 2.5:1 31 March 2005 1.2:1 4.5:1 30 September 2005 1.6:1 6.0:1 31 March 2006 2.5:1 30 September 2006 2.5:1 31 March 2007 2.5:1 30 September 2007 2.5:1 31 March 2008 2.5:16.0:1
Appears in 1 contract
Samples: Agreement (Alstom)
Interest Cover. The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, year commencing 31 March 20052004, by reference to the financial statements referred to in Clauses 17.2 18.2 (Audited Accounts) and 17.3 18.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year. Date (12 month period ending on:) Ratio 31 March 2005 1.2:1 30 September 2005 1.6:1 31 March 2006 2.5:1 30 September 2006 2.5:1 31 March 2007 2.5:1 30 September 2007 2.5:1 31 March 2008 2.5:12004 1.8:1
Appears in 1 contract
Samples: Agreement (Alstom)