Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter to (b) Consolidated EBITDA for the twelve-month period ended on such date to be greater than the amount specified in the chart below for the fiscal year in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 4.50
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Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at to (b) the end sum of Consolidated EBITDA and Consolidated Capital Lease Expense, in each case for the twelve- month period ended on the last day of any fiscal quarter to (b) Consolidated EBITDA for commencing with the twelve-month period fiscal quarter ended on such date December 31, 1997, to be greater more than the amount specified in the chart below for any such day occurring in the fiscal year in which such date shall occurapplicable calendar year: Year Maximum Ratio ---- ------------- 1997 and 1998 7.00 1999 6.80 2000 6.60 2001 6.40 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 4.506.20
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Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter to (b) Consolidated EBITDA for the twelve-month period ended on such date to be greater than the amount specified in the chart below for the fiscal year period in which such date shall occur: Year Period Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 From the Effective Date through and including June 30, 2008 4.00 From July 1, 2008 through and including September 30, 2008 4.50 From October 1, 2008 through and including December 31, 2008 4.75 2006 4.50From January 1, 2009 through and including June 30, 2009 4.50 From and after July 1, 2009 4.00
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Samples: Letter of Credit and Reimbursement Agreement (Unisource Energy Corp)
Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end last day of any fiscal quarter to (b) Consolidated EBITDA for the twelve-month period ended on such date to be greater than the amount specified in the chart below for 4.00, commencing with the fiscal year in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 4.50quarter ended December 31, 2009.
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Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter to (b) Consolidated EBITDA for the twelve-month period ended on such date to be greater than the amount specified in the chart below for the fiscal year in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 4.504.00 to 1.0.
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Samples: Letter of Credit and Reimbursement Agreement (Unisource Energy Corp)
Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter to (b) Consolidated EBITDA for the twelve-month period ended on such date to be greater than the amount specified in the chart below for the fiscal year period in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 From the Effective Date through and including December 31, 2006 4.504.50 From January 1, 2007 through and including December 31, 2007 4.25 From and after January 1, 2008 4.00
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Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the twelvefour-month fiscal-quarter period ended on such date to be greater than the amount specified in the chart below for the fiscal year period in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 From the Effective Date through and including December 31, 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 2006 From and after January 1, 2009 4.50
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Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at as of the end last day of any fiscal quarter of the Borrower, commencing with the fiscal quarter ended on June 30, 2003, to (b) Consolidated EBITDA for the twelve-month period ended on such date day to be greater than 6.25 to 1.0, as evidenced by the amount specified in the chart below for the fiscal year in which such date shall occur: Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 4.50financial statements to be delivered pursuant to Section 5.1(a) or (b), as applicable.
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