Common use of Leverage Test Clause in Contracts

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

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

AutoNDA by SimpleDocs

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 December 31, 2006 4.50 From January 1, 2007 through and including December 31, 2007 4.25 From January 1, 2008 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

Appears in 1 contract

Samples: Credit 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 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

Appears in 1 contract

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, 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 Period Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 From the Effective Date through and including December 31, 2006 5.00 From January 1, 2007 through and including June 30, 2008 4.75 From July 1, 2008 through and including September 30, 2008 5.00 From October 1, 2008 through and including June 30, 2009 5.25 2005 4.75 2006 4.50From and after July 1, 2009 5.00

Appears in 1 contract

Samples: Credit Agreement (Unisource Energy Corp)

AutoNDA by SimpleDocs

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 Period 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

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

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 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

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

Time is Money Join Law Insider Premium to draft better contracts faster.