Maximum Debt/EBITDA Ratio Clause Samples
Maximum Debt/EBITDA Ratio. The Borrower shall not at any time permit the Debt/EBITDA Ratio to be greater than 3.50 to 1.00.
Maximum Debt/EBITDA Ratio. (Section 8.2.16). As of the Report Date, the Debt/EBITDA Ratio of the Borrower and its Consolidated Subsidiaries for the four fiscal quarters most recently ending is _________________ (insert ratio from (3)(C) below), which ratio is not greater than 3.50 to 1.0. The Debt/EBITDA Ratio shall be computed as follows:
(A) Consolidated Debt of Borrower and its Consolidated Subsidiaries, as of the Report Date, calculated as follows:
(i) liabilities for borrowed money payable within one year $
(ii) Guaranties of Indebtedness by the Borrower or its Consolidated Subsidiaries described in item (3)(A)(i) (other than Guaranties especially excepted from the definition of Consolidated Current Debt) $
(iii) liabilities for borrowed money other than Consolidated Current Debt and Indebtedness of the Borrower owed to any of its Subsidiaries $
(iv) liabilities for borrowed money secured by any lien on any real or personal property owned by the Borrower or its Consolidated Subsidiaries $
(v) any Obligations with respect to capital leases of the Borrower and its Consolidated Subsidiaries $
(vi) Guaranties of Indebtedness by the Borrower or its Consolidated Subsidiaries described in items (3)(A)(iii) through (v) (other than Guaranties that constitute Consolidated Current Debt) $
(vii) the sum of items (3)(A)(i) through (3)(A)(vi) equals Consolidated Debt $
(B) Consolidated EBITDA for the four fiscal quarters then ending, calculated in accordance with GAAP, as follows:
(i) Consolidated Net Income $ (ii) income tax expense $
Maximum Debt/EBITDA Ratio. Vistana, on the last day of each Fiscal Quarter commencing with the Fiscal Quarter commencing on October 1, 1997, shall have a Debt Ratio of not greater than (i) 5.5 to 1.0 for the period commencing on the Closing Date and ending on each Fiscal Quarter ending on or prior to December 31, 1999 and (ii) 5.25 to 1.0 thereafter as shown on Vistana's consolidated financial statements for the most recently completed Fiscal Quarter or Fiscal Year, as the case may be.