Maintenance of Interest Coverage. On each Quarterly Determination Date, the Fixed Charge Coverage Ratio of Icahn Enterprises and the Guarantors will be at least 1.5 to 1.0 for the four consecutive fiscal quarters most recently completed prior to such Quarterly Determination Date; provided that, in the event that the Fixed Charge Coverage Ratio of Icahn Enterprises and the Guarantors is less than 1.5 to 1.0 for such four consecutive fiscal quarters, the Company shall be deemed to have satisfied this maintenance test if there is deposited, within two (2) Business Days of such Quarterly Determination Date, an amount in cash such that the deposited funds, together with any funds previously deposited pursuant to this Section 4.13 (and that have not been paid out or otherwise released) are in an amount equal to the Company’s obligations to pay interest on the Notes for one year; provided further, that the Company shall grant to the Trustee, on behalf of the Holders of the Notes, a first priority security interest in such deposited funds by executing and delivering a Security and Control Agreement and by delivering to the Trustee an Opinion of Counsel to the effect that the Security and Control Agreement (i) has been duly authorized, executed and delivered and is the legal, valid and binding obligation of the Company, enforceable against the Company, (ii) creates a valid security interest in the Pledged Account and Collateral (each as defined in the Security and Control Agreement) in favor of the Trustee on behalf of the Holders and (iii) upon compliance with the terms thereof, the security interest in the Pledged Account and Collateral in favor of the Trustee on behalf of the Holders is perfected. At any subsequent Quarterly Determination Date, if the Fixed Charge Coverage Ratio of Icahn Enterprises and the Guarantors is at least 1.5 to 1.0 for the four consecutive fiscal quarters most recently completed prior to such Quarterly Determination Date, Icahn Enterprises shall notify the Trustee of the foregoing and pursuant to the terms of the Security and Control Agreement, such deposited funds will be released from the security interest granted to the Trustee and paid at the direction of Icahn Enterprises.
Maintenance of Interest Coverage. Permit the Interest Coverage Ratio on the last day of any fiscal quarter to be less than 4.25 to 1.0.
Maintenance of Interest Coverage. Permit for any period of four consecutive fiscal quarters ending during any period set forth below the Interest Coverage Ratio for such period to be less than the ratio set forth opposite such period below: Period Ratio ------ ----- Closing Date 1.75:1.0 through September 30, 1997 October 1, 1997 2.00:1.0 through December 31, 1997 January 1, 1998 3.00:1.0 through December 31, 1998 January 1, 1999 4.00:1.0 and at all times thereafter
Maintenance of Interest Coverage. Maintain a ratio of -------------------------------- Consolidated Net Earnings Available for Interest Charges to Interest Charges of not less than 2 to 1, such ratio to be measured at the end of each fiscal quarter of the Company as an average of the four most recent fiscal quarters of the Company.
Maintenance of Interest Coverage. Permit for any period of four consecutive fiscal quarters the Interest Coverage Ratio for such period to be less than 3.00:1.00.
Maintenance of Interest Coverage. Matec shall maintain a ratio of Consolidated Net Earnings Available for Interest Charges to Interest Charges of not less than 1 to 1 through December 31, 1995, and not less than 2 to 1 thereafter, such ratio to be measured at the end of each fiscal quarter of Matec, commencing on and with the fiscal quarter ending June 30, 1995, as an average of the four (4) most recent fiscal quarters of Matec.
Maintenance of Interest Coverage. 27 6.8 Maintenance of Leverage Ratio....................................27 6.9 Limitation on Dividends and Stock Repurchases....................27 6.10 Transactions with Affiliates.....................................28 6.11
Maintenance of Interest Coverage. The Company will not permit the ratio of (i) Consolidated Cash Flow, to (ii) Consolidated Interest Expense (excluding (i) any interest or dividends paid in respect of the Securities and (ii) any interest accrued and unpaid or payable on the Subordinated Indebtedness which is not paid in cash), 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; provided, however, that in the case of any such measuring date which is earlier than April, 1998, the applicable measuring period shall be the period from the Closing Date to and including such measuring date:
Maintenance of Interest Coverage. Maintain a ratio of Consolidated Net Earnings Available for Interest Charges to Interest Charges of not less than 1 to 1, such ratio to be measured at the end of each fiscal quarter of the Company as an average of the four (4) most recent fiscal quarters of the Company commencing on and with the fiscal quarter ending June 30, 2007.
Maintenance of Interest Coverage. Prior to the Senior Subordinated Note Issuance Date, permit the Interest Coverage Ratio on the last day of any fiscal quarter, commencing with the fiscal quarter ending June 30, 1999, to be less than 3.0:1.0.
