Maintenance of Fixed Charge Coverage. Holdings and the Borrower covenant that on the last day of any quarterly accounting period of Holdings and its Subsidiaries, the ratio of Consolidated Income Available for Fixed Charges to Fixed Charges for the period consisting of any four of the immediately preceding five quarterly accounting periods shall not be less than:
1. 40:1.00 from Closing Date through September 29, 1993; and
1. 50:1.00 from September 30, 1993 and thereafter.
Maintenance of Fixed Charge Coverage. Permit Fixed Charge Coverage to be less than 1.50 for any three consecutive fiscal quarters of the Company.
Maintenance of Fixed Charge Coverage. The Company will not permit the Fixed Charge Ratio at any time (other than the four fiscal quarter period ending on October 2, 2004) to be less than 1.75 to 1.00. For the four fiscal quarter period ending on October 2, 2004, the Company will not permit the Fixed Charge Ratio to be less than 1.50 to 1.00."
Maintenance of Fixed Charge Coverage. Permit, as of the last day of any quarterly accounting period, the ratio of Consolidated Income Available for Fixed Charges (excluding extraordinary losses or gains or non-recurring charges) to Fixed Charges for the period consisting of any four of the immediately preceding four quarterly accounting periods to be less than 1.50 to 100.
Maintenance of Fixed Charge Coverage. The Borrowers shall not permit the ratio of (i) Consolidated EBITDA of the Borrowers, to (ii) Consolidated Fixed Charges, measured as of each date set forth below for the period of four consecutive full fiscal quarters of the Borrowers ended on such date, to be less than the ratio set forth below: Fiscal Quarter Ended Ratio -------------------- ----- December 31, 1997 and the last day of any subsequent fiscal quarter of the Borrowers 1.4 to 1.0
Maintenance of Fixed Charge Coverage. The Company will not permit the Fixed Charge Ratio at any time to be less than the ratio set forth opposite the applicable period below: -------------------------------------------------------------- Period Ratio -------------------------------------------------------------- January 3, 1999 through October 1, 1999 1.00 : 1.00 -------------------------------------------------------------- October 2, 1999 through December 31, 1999 1.25 : 1.00 -------------------------------------------------------------- January 1, 2000 and thereafter 1.50 : 1.00 --------------------------------------------------------------
Maintenance of Fixed Charge Coverage. Maintain (i) for the three month period ended November 30, 1997; (ii) for the six month period ended February 28, 1998; (iii) for the nine month period ended May 30, 1998; (iv) for the twelve month period ending August 31, 1998; and (v) for each twelve month period ended on the last day of a Financial Quarter ended after August 31, 1998, a ratio of Consolidated EBDIT to Consolidated Fixed Charges of not less than 1.10:1.
Maintenance of Fixed Charge Coverage. The Borrowers shall not permit the ratio of (i) Consolidated EBITDA of the Borrowers, to (ii) Consolidated Fixed Charges, measured as of each date set forth below for the period of four (4) consecutive full fiscal quarters of the Borrowers ended on such date, to be less than the ratio set forth below: ------------------------------------------------------------------------------------ FISCAL QUARTER ENDED MINIMUM RATIO ------------------------------------------------------------------------------------ March 31, 2000 1.50 to 1.00 ------------------------------------------------------------------------------------ June 30, 2000 1.30 to 1.00 ------------------------------------------------------------------------------------ September 30, 2000 1.30 to 1.00 ------------------------------------------------------------------------------------ December 31, 2000 1.30 to 1.00 ------------------------------------------------------------------------------------ March 31, 2001 and the last day of each 1.40 to 1.00 fiscal quarter thereafter ------------------------------------------------------------------------------------
12. The second sentence set forth in Section 8 of Article VII of the Loan Agreement is hereby deleted in its entirety and the following substituted in lieu thereof:
Maintenance of Fixed Charge Coverage. IHOP and the Borrower covenant that on the last day of any quarterly accounting period of IHOP and its Subsidiaries, the ratio of Consolidated Income Available for Fixed Charges (excluding extraordinary losses or gains or non-recurring charges) to Fixed Charges for the immediately preceding four quarterly accounting periods shall not be less than 1.50:1.00."
2.11 Section 14.12(a) is hereby amended by deleting "$30,000,000" and inserting "$35,000,000, net of all expenditures relating to sale leaseback transactions" in lieu thereof.
2.12 Section 18 is hereby amended by deleting the definition of "Alternative Reference Rate" and amending and restating such definition in its entirety as follows:
Maintenance of Fixed Charge Coverage. The Company shall not permit the ratio of (i) Consolidated EBITDA of the Company, to (ii) Consolidated Fixed Charges, measured as of each date set forth below for the period of four consecutive full fiscal quarters of the Company ended on such date, to be less than the ratio set forth opposite such date: Fiscal Quarter Ended Ratio -------------------- ----- June 30, 1997 1.2 to 1.0 September 30, 1997 1.3 to 1.0 December 31, 1997 and the last day of any subsequent fiscal quarter of the Company" 1.4 to 1.0
