Interest Coverage Ratios. As of the end of any fiscal quarter, the ratio of EBITDA to Consolidated Total Interest Expense shall not be less than the stated ratio for the respective periods set forth below: Period Ratio ------ ----- Effective Date through 1/31/01 2.50:1 Thereafter 3.50:1
1. For the purposes of this Section 9.1, the ratio shall be calculated on a cumulative quarterly basis for the fiscal quarters ending January 31, 2000 through October 31, 2000, and thereafter for the four fiscal quarters then ending.
Interest Coverage Ratios. As of the end of any fiscal quarter, for the period of the four consecutive fiscal quarters then ended, the ratio of EBITDA to Consolidated Total Interest Expense shall not be less than 3.5:1.
Interest Coverage Ratios. Until such time as all Tranche A Advances and Tranche B Advances are indefeasibly paid in full, Guarantor and each Subsidiary, on a consolidated basis, shall maintain for each quarterly period (i) a ratio of Adjusted EBITDA to Adjusted Interest Expense of not less than 1.25 to 1.00, and (ii) a ratio of Adjusted EBITDA to Interest Expense of not less than 1.05 to 1.00, with each such ratio being determined (A) beginning March 31, 2008, and continuing as of the end of each quarter through and including September 30, 2008, as of the end of each such quarter for the period from January 1, 2008, through the end of such quarter of determination (on a year-to-date basis), and (B) beginning December 31, 2008, and continuing as of the end of each quarter thereafter, for the most recently-ended twelve consecutive (12) month period ending on such date.
Interest Coverage Ratios. Until such time as all Tranche A Advances and Tranche B Advances are indefeasibly paid in full, Guarantor and each Subsidiary, on a consolidated basis, shall maintain for each monthly period (i) a ratio of Adjusted EBITDA to Adjusted Interest Expense of not less than 1.25 to 1.00, and (ii) a ratio of Adjusted EBITDA to Interest Expense of not less than 1.10 to 1.00, with each such ratio being determined as of the end of each monthly fiscal period for the monthly fiscal period then ended. “AdjustedEBITDA” shall mean for any period EBITDA, plus any non-cash expense or charge for loan loss reserve. “EBITDA” shall mean for any period, the sum of the amounts for such period of (i) the consolidated net income (or loss) after taxes taken as a single accounting period, (ii) Interest Expense, (iii) all federal, state, and local income taxes of such Person (whether paid or deferred)and (iv) depreciation and amortization expense which were deducted in determining consolidated net income for such period, with each component determined in conformity with GAAP. “Adjusted InterestExpense” shall mean for any period Interest Expense, other than any such Interest Expense in respect of Tranche B Advances. “InterestExpense” shall mean for any period total interest expense (other than “PIK Interest” as defined in the Franklin Forbearance Agreement), whether paid or accrued or due and payable (including without limitation in respect of all Advances and any Subordinated Indebtedness), plus the interest component of capital lease obligations for such period, plus all bank fees (other than the “Restructuring Fee” as defined in the Franklin Forbearance Agreement), plus net costs under Interest Rate Hedge Agreements.
Interest Coverage Ratios. (a) Commencing with the fiscal quarter ending December 31, 1999, permit the ratio for each four fiscal quarter period, of (i) EBITDA of Holdings and its subsidiaries on a Consolidated basis for such period to (ii) the sum of (x) Cash Interest Expense of Holdings and its subsidiaries on a Consolidated basis for such period PLUS (y) the aggregate amount of all Preferred Dividends paid in cash during such period to be less than 3.00:1.00 for the four quarter periods ending December 31, 1999 and March 31, 2000, 2.75:1.00 for the four quarter periods ending June 30, 2000, September 30, 2000 and December 31, 2000 and 3.00:1.00 at the end of each four quarter period thereafter.
Interest Coverage Ratios. (a) The Company will not permit the Interest Coverage Ratio to be less than the following respective ratios at any time during the following respective periods: Period Ratio ------ ----- From the Effective Date through and including June 29, 1997 2.20 to 1 From June 30, 1997 through and including June 29, 1998 2.40 to 1 From June 30, 1998 through and including June 29, 1999 2.75 to 1 From June 30, 1999 through and including June 29, 2000 3.25 to 1 From June 30, 2000 and at all times thereafter 3.75 to 1
(b) The Company will not permit the Senior Interest Coverage Ratio to be less than the following respective ratios at any time during the following respective periods: Period Ratio ------ ----- From the Effective Date through and including June 29, 1997 3.50 to 1 From June 30, 1997 through and including June 29, 1998 3.75 to 1 From June 30, 1998 through and including June 29, 1999 4.00 to 1 From June 30, 1999 through and including June 29, 2000 4.50 to 1 From June 30, 2000 and at all times thereafter 5.00 to 1
Interest Coverage Ratios. (i) The Parent will not permit the Senior Interest Coverage Ratio to be less than the following respective ratios at any time during the following respective periods: Period Ratio ------ ----- From the date hereof through December 31, 1996 3.80 to 1.00 From January 1, 1997 through March 31, 1997 3.80 to 1.00 From April 1, 1997 through June 30, 1997 4.50 to 1.00 From July 1, 1997 through September 30, 1997 4.80 to 1.00 From October 1, 1997 through December 31, 1997 4.90 to 1.00 From January 1, 1998 through March 31, 1998 5.00 to 1.00 Credit Agreement ---------------- - 148 - From April 1, 1998 through June 30, 1998 5.30 to 1.00 From July 1, 1998 through September 30, 1998 5.60 to 1.00 From October 1, 1998 through December 31, 1998 5.80 to 1.00 From January 1, 1999 and at all times thereafter 5.80 to 1.00
(ii) The Parent will not permit the Total Interest Coverage Ratio to be less than the following respective ratios at any time during the following respective periods: Period Ratio ------ ----- From the date hereof through December 31, 1996 2.20 to 1.00 From January 1, 1997 through March 31, 1997 2.20 to 1.00 From April 1, 1997 through June 30, 1997 2.60 to 1.00 From July 1, 1997 through September 30, 1997 2.80 to 1.00 From October 1, 1997 through December 31, 1997 2.80 to 1.00 From January 1, 1998 through March 31, 1998 2.90 to 1.00 From April 1, 1998 Credit Agreement ---------------- 155 through June 30, 1998 3.00 to 1.00 From July 1, 1998 through September 30, 1998 3.20 to 1.00 From October 1, 1998 through December 31, 1998 3.30 to 1.00 From January 1, 1999 and at all times thereafter 3.30 to 1.00
Interest Coverage Ratios. (a) Permit the ratio for each one fiscal quarter period (in the case of the fiscal quarter ending September 30, 1998), two fiscal quarter period (in the case of the fiscal quarter ending December 31, 1998), three fiscal quarter period (in the case of the fiscal quarter ending March 31, 1999) or four fiscal quarter period (in the case of the fiscal quarter ending June 30, 1999) and for each four fiscal quarter period thereafter, commencing with the fiscal quarter ending September 30, 1998, of (i) EBITDA of the Borrowers and their subsidiaries on a Consolidated basis for such period to (ii) the sum of (x) Cash Interest Expense of the Borrowers and their subsidiaries on a Consolidated basis for such period plus (y) the aggregate amount of all Preferred Dividends paid in cash during such period to be less than 3.00:1.00.
(b) Permit the ratio for each one fiscal quarter period (in the case of the fiscal quarter ending September 30, 1998), two fiscal quarter period (in the case of the fiscal quarter ending December 31, 1998), three fiscal quarter period (in the case of the fiscal quarter ending March 31, 1999) or four fiscal quarter period (in the case of the fiscal quarter ending June 30, 1999) and for each four fiscal quarter period thereafter, commencing with the fiscal quarter ending September 30, 1998, of (i) the sum of (x) EBITDA of the Borrowers and their subsidiaries on a Consolidated basis for such period minus (y) the aggregate amount of all Maintenance Capital Expenditures made by the Borrowers and their subsidiaries during such period to (ii) the sum of (x) Cash Interest Expense of the Borrowers and their subsidiaries on a Consolidated basis for such period plus (y) the aggregate amount of all Preferred Dividends paid in cash during such period to be less than 2.50:1.00.
Interest Coverage Ratios. (i) The Company Parties shall not permit the ratio of (i) EBITDA of Parent and its subsidiaries on a consolidated basis for such period to (ii) the sum of (x) Cash Interest Expense (as such term is defined in the March 2000 Senior Credit Agreement) and Parent and its subsidiaries on a consolidated basis for such period PLUS (y) the aggregate amount of all Preferred Dividends (as such term is defined in the March 2000 Senior Credit Agreement) paid in cash during such period to be less than 2.3375:1.00 for each of the four Fiscal Quarter periods ending June 30, 2000, September 30, 2000 and December 31, 2000, and 2.55:1.00 for each of the four Fiscal Quarter periods ending at the end of each Fiscal Quarter thereafter; and
(ii) The Company Parties shall not permit the ratio of (i) the sum of (x) EBITDA of Parent and its subsidiaries on a consolidated basis for such period, MINUS (y) the aggregate amount of all Maintenance Capital Expenditures made by the Issuers and their subsidiaries during such period to (ii) the sum of (x) Cash Interest Expense (as such term is defined in the March 2000 Senior Credit Agreement) of Parent and its subsidiaries on a consolidated basis for such period, PLUS (y) the aggregate amount of all Preferred Dividends (as such term is defined in the March 2000 Senior Credit Agreement) paid in cash during such period to be less than 1.9125:1.00 for each of the four Fiscal Quarter periods ending June 30, 2000, September 30, 2000 and December 31, 2000, and
Interest Coverage Ratios. 87 SECTION 7.11