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 a ratio of Maximum Funded Debt to EBITDA of not greater than 3.25 to 1. The Maximum Funded Debt to EBITDA ratio is only measured annually at the Company's fiscal year end. EBITDA shall be calculated on a rolling four-quarter basis. Any non-cash compensation income/expense related to stock, options and warrants as well as any employment contract expense shall be excluded for the purposes of calculating EBITDA in this ratio.
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. As of the last day of each fiscal quarter, commencing with the quarter ending June 30, 2004, permit the ratio of (a) Funded Debt, for the four consecutive quarters ended on such date, to (b) EBITDA, less any earnings attributable to assets financed by secured nonrecourse obligations, for the four consecutive quarters ended on such date, to exceed 3.25 to 1.
Maximum Funded Debt to EBITDA. The Borrower shall maintain a ratio of maximum Funded Debt to EBITDA of not greater than 3.25 to 1 as of, and to be measured at, March 31, 2004 and the same date of each year thereafter until all of the obligations have been repaid. In the event of a material expansion of the Borrower's manufacturing facilities, Bank agrees to readdress this covenant. Non-cash stock expense/benefit shall be excluded for the purposes of calculating EBITDA."
Maximum Funded Debt to EBITDA. Borrower shall not permit the ratio of its Funded Indebtedness to EBITDA to be greater than 2.500 to 1.00, measured as of the end of each fiscal quarter on a rolling four-quarter basis.
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 8.50 to 1.0 March 31, 1998 8.50 to 1.0 June 30, 1998 8.00 to 1.0 September 30, 1998 7.00 to 1.0 December 31, 1998 6.30 to 1.0 March 31, 1999 6.20 to 1.0 June 30, 1999 6.80 to 1.0 September 30, 1999 6.50 to 1.0 December 31, 1999 6.30 to 1.0 March 31, 2000 5.90 to 1.0 June 30, 2000 6.80 to 1.0
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. 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 From the date of this Agreement through, 3.0:1 and including the four fiscal quarters ending June 30, 1999 For the four consecutive fiscal quarters 2.75:1 ending September 30, 1999 and thereafter
