Maximum Funded Debt to EBITDA. The ratio of Funded Debt to EBITDA, determined as of the last day of each calendar quarter and measured for the preceding period of four calendar quarters, shall not exceed the following prescribed amounts, as applicable:
Maximum Funded Debt to EBITDA. The Borrower shall maintain at all times a ratio of maximum Funded Debt to EBITDA of not greater than 3.5 to 1 as of March 31, 2001 through March 30, 2002, and not greater than 2.5 to 1 as of March 31, 2002 and thereafter until all of the obligations have been repaid. In the event of material expansion of the Borrower's manufacturing facilities, Bank agrees to readdress this covenant.
Maximum Funded Debt to EBITDA. Borrowers and their Subsidiaries, on a consolidated basis, shall maintain for each period of four consecutive fiscal quarters a ratio of Funded Debt to EBITDA of no greater than: PERIOD RATIO For the four consecutive fiscal quarters ending June 3.75:1 30, 1998, and September 30, 1998 For the four consecutive fiscal quarters ending 3.25:1 December 31, 1998, and March 31, 1999 For the four consecutive fiscal quarters ending June 3.00:1 30, 1999, December 31, 1999, and March 31, 2000 For the four consecutive fiscal quarters ending at 2.75:1 the end of any fiscal quarter after March 21, 2000 For purposes of calculating this covenant, the EBITDA for the prior fiscal year for the "Acquisitions," as defined in Section 6.6, shall be included in the calculation. The Acquisitions' EBITDA shall be incorporated on a decreasing pro-rata basis, with 100% of the Acquisitions' EBITDA included in the calculation for the first calendar quarter-end following closing of the Acquisitions, 75% included in the second quarter-end, 50% included in the third quarter-end, and 25% included in the fourth quarter-end. Beginning with the fifth quarter following the closing of the Acquisitions, the EBITDA for the Acquisitions' prior fiscal year shall no longer be incorporated in this calculation.
Maximum Funded Debt to EBITDA. The ratio of Funded Debt to EBITDA, determined as of the last day of each calendar quarter and measured for the preceding period of four calendar quarters, shall not exceed the following prescribed amounts, as applicable: Date Ratio ---- ----- December 31, 1997 10.00 to 1.0 March 31, 1998 10.75 to 1.0 June 30, 1998 9.75 to 1.0 September 30, 1998 8.50 to 1.0 December 31, 1998 8.00 to 1.0 March 31, 1999 7.75 to 1.0 June 30, 1999 7.50 to 1.0 September 30, 1999 7.25 to 1.0 December 31, 1999 7.00 to 1.0 March 31, 2000 6.90 to 1.0 June 30, 2000 6.80 to 1.0 September 30, 2000 6.50 to 1.0 December 31, 2000 6.40 to 1.0 March 31, 2001 6.30 to 1.0 June 30, 2001 6.20 to 1.0 September 30, 2001 6.10 to 1.0 December 31, 2001 6.00 to 1.0 March 31, 2002 5.95 to 1.0 June 30, 2002 5.90 to 1.0
Maximum Funded Debt to EBITDA. Borrower shall not permit the ratio of its Funded Indebtedness to EBITDA to be greater than 3.00 to 1.00, measured as of the end of each fiscal quarter on a rolling four-quarter basis.
(j) Section 5.1(d) (Debt Service Coverage Ratio) is deleted in its entirety and replaced with the following:
Maximum Funded Debt to EBITDA. The ratio of the Companies' Funded Debt to the Companies' EBITDA may never exceed 2.0 to 1.0.
Maximum Funded Debt to EBITDA. The maximum aggregate Funded Debt to EBITDA (net of (minus) pledged certificates of deposit by the Guarantors to the Bank and inclusive of the net income of Yorktown Management, L.L.C.'s ("Yorktown")) of Greystone and its Financial Covenant Affiliates shall be as follows; calculated annually based upon the fiscal year end audited financial statements of Greystone: Maximum Ratio Effective as of:
Maximum Funded Debt to EBITDA. As of the last day of any fiscal quarter, commencing with the fiscal quarter ending December 31, 1998, permit the ratio of Funded Debt to EBITDA, calculated on a cumulative four quarter rolling basis for such fiscal quarter and the three immediately preceding fiscal quarters, to exceed 2.50:1.
Maximum Funded Debt to EBITDA. Borrowers and their Subsidiaries, on a consolidated basis, shall maintain for each period of four consecutive fiscal quarters a ratio of Funded Debt to EBITDA of no greater than:
