Interest Expense Coverage. The Borrower shall maintain at the ------------------------- end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on September 30, 1995, a ratio of (a) Total Base Rents for such Fiscal Quarter to (b) Net Interest Expense for such Fiscal Quarter, of not less than 2:1.
Interest Expense Coverage. The ratio of Adjusted EBITDA to Interest Expense is not less than 2.10 to 1.
Interest Expense Coverage. The Company will not permit the ratio of
(a) Consolidated Adjusted Cash Flow for any period of four consecutive complete fiscal quarters of the Company to
(b) Consolidated Interest Expense for such period to be less than 2.50 to 1.00.
Interest Expense Coverage. The ratio of Adjusted EBITDA to Interest Expense for the then immediately preceding twelve (12) full calendar months shall not be less than 2.50 to 1.
Interest Expense Coverage. The Interest Expense Coverage as determined as of each Calculation Date shall be not less than 2.00:1. The Interest Expense Coverage covenant shall be tested by the Administrative Agent as of the Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.
Interest Expense Coverage. As at the last day of each fiscal quarter of the Borrower, permit the ratio of (i) EBITDA for the four fiscal quarter period ending on such date to (ii) Consolidated Interest Expense for the four fiscal quarter period ending on such date, to be less than (A) 1.50 to 1.00 for the fiscal quarter ending in March 1999 or (B) 2.50 to 1.00 for the fiscal quarter ending in June 1999 or (C) 3.00 to 1.00 for the fiscal quarter ending in September 1999 or (D) 3.50 to 1.00 for any fiscal quarter ending after September 1999.
Interest Expense Coverage. As of the last day of any fiscal quarter ending on or after September 30, 1998, the ratio of (a) Consolidated EBITA to (b) Consolidated Interest Expense, for the three most recently ended fiscal quarters taken as a single accounting period in the case of the quarter ended September 30, 1998 and, thereafter, for the four most recently ended fiscal quarters taken as a single accounting period, shall not be less than the ratio specified below for such fiscal quarter:
Interest Expense Coverage. Interest Expense Coverage, on a trailing twelve (12) Fiscal Month basis, shall not be less than 1.80 for the Fiscal Quarter ending March 31, 1998 and each Fiscal Quarter thereafter."
H. Subsection 6.5 is hereby amended by deleting subsection 6.5 in its entirety and inserting the following in lieu thereof:
Interest Expense Coverage. Permit for any fiscal quarter the ratio of (i) EBITDA (as calculated pursuant to Exhibit G hereto) to (ii) total interest expense paid or accrued on all Indebtedness to be less than 3.00 to 1.00.
Interest Expense Coverage. As of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 1999, the ratio of (A) Consolidated EBITA to (B) Consolidated Interest Expense, measured for the four most recently ended fiscal quarters taken as a single accounting period, shall not be less than 1 to 1; provided, however for the fiscal quarter end June 30, 1999 the measuring period shall be the two most recently ended fiscal quarters taken as a single accounting period and for the fiscal quarter end September 31, 1999 the measuring period shall be the most recently ended three fiscal quarters, taken as a single accounting period. For the purposes of this PARAGRAPH 6A(2), Consolidated Interest Expense shall be reduced by the aggregate amount of interest paid on the Notes in such period which, as a result of the First Waiver, is in excess of the amount of interest which would have been paid on the Notes in such period if the Notes had continued to accrue interest on amounts not then due at an annual rate of 7.91% and by the aggregate amount of Deferred Interest and Deferred Current Interest due SVB and Consolidated EBITA shall be increased by the aggregate amount of expenses of the Holders incurred in connection with the First Waiver paid by the Company in such period pursuant to paragraph 5S of the Note Agreement and paragraph 5(f) of the First Waiver and by the Closing Expenses of SVB."
(iii) Paragraph 6A(3) of the Note Agreement is hereby amended to change the reference in the paragraph 6A(3) from "60%" to "70%" and to add the following paragraph: "For the purposes of this PARAGRAPH 6A(3), Consolidated Total Capitalization will be reduced by the amount of any increase in Consolidated Net Worth after December 31, 1998 as a result of issuances of Equity Interests of the Company after December 31, 1998 and Consolidated Net Worth will be calculated as provided in PARAGRAPH 6A(1) provided nothing in this paragraph shall be construed to reduce Consolidated Total Capitalization as a result of the issuance of Equity Interests of the Company for Equity Interests of another Person as consideration for a merger or consolidation after the date of the First Waiver permitted by under PARAGRAPH 6C(3)."
(iv) Paragraph 6A(4) of the Note Agreement is amended to add the following paragraph:
(v) The following PARAGRAPH 6A(5) is added to the Note Agreement:
