Maximum Lease Adjusted Leverage Ratio. The Loan Parties and their Subsidiaries shall have on a consolidated basis as of the end of each Fiscal Quarter, a Lease Adjusted Leverage Ratio for the four Fiscal Quarters then ended, of not more than the following with respect to the Fiscal Quarter set forth opposite each such ratio below: June 30, 2011 5.50:1.00 September 30, 2011 5.50:1.00 December 31, 2011 5.50:1.00 March 31, 2012 5.50:1.00 June 30, 2012 5.50:1.00 September 30, 2012 5.40:1.00 December 31, 2012 5.35:1.00 March 31, 2013 5.30:1.00 June 30, 2013 5.25:1.00 September 30, 2013 5.15:1.00 December 31, 2013 5.00:1.00 March 31, 2014 4.95:1.00 June 30, 2014 4.90:1.00 September 30, 2014 4.80:1.00 December 31, 2014 4.75:1.00 March 31, 2015 4.65:1.00 June 30, 2015 4.55:1.00 September 30, 2015 4.45:1.00 December 31, 2015 and the last day of each Fiscal Quarter thereafter 4.25:1.00
Maximum Lease Adjusted Leverage Ratio. For the period ending with Fiscal Period No. 13 of 2002, the Borrower shall maintain a Lease Adjusted Leverage Ratio of not greater than 3.0 to 1.0, measured on a rolling thirteen Fiscal Period basis. Thereafter, the Borrower will maintain a Lease Adjusted Leverage Ratio of not greater than the ratios set forth below measured on a rolling thirteen Fiscal Period basis as of the last day of each Fiscal Period 3, 6, 9 and 13 during the calendar years set forth below: 2003 3.0 to 1.0; and 2004 and thereafter 2.5 to 1.0.
Maximum Lease Adjusted Leverage Ratio. The Borrower shall not permit the ratio (the "Lease Adjusted Leverage Ratio") of (i) the sum of (a) Total Debt plus (b) an amount equal to eight (8) times Rentals for the four-quarter period ending on such day to (ii) the sum of (a) EBITDA plus (b) Rentals to be greater than the ratio set forth below at the end of the fiscal quarter ending on the corresponding date set forth below: September 14, 2002 5.75 to 1.00 January 4, 2003 5.50 to 1.00 March 29, 2003 through June 21, 2003 5.00 to 1.00 September 13, 2003 through March 27, 2004 4.75 to 1.00 June 19, 2004 through March 6, 2005 4.25 to 1.00 June 18, 2005 through March 25, 2006 4.00 to 1.00 June 17, 2006 and each quarter thereafter 3.75 to 1.00 The Lease Adjusted Leverage Ratio shall be calculated, in each case, determined as of the last day of each fiscal quarter based upon (a) for Total Debt, Total Debt as of the last day of each such fiscal quarter; and (b) for EBITDA and Rentals, the actual amount for the four-quarter period ending on such day, calculated, with respect to Permitted Acquisitions, on a pro forma basis using historical financial statements obtained from the seller, broken down by fiscal quarter in the Borrower's reasonable judgment (the amounts from which shall be unadjusted unless adjustments thereto shall have been approved in writing by the Agents).
Maximum Lease Adjusted Leverage Ratio. The Lease Adjusted Leverage Ratio of the Borrower for the period ending December 31, 2002 shall not be greater than 3.5 to 1.0. Thereafter, the Borrower shall maintain a Lease Adjusted Leverage Ratio not greater than the ratios set forth below, measured on a rolling thirteen Fiscal Period basis, for the periods set forth below: End of 1st Quarter of 2003 3.5 to 1.0 End of 2nd Quarter of 2003 3.25 to 1.0 End of 3rd Quarter of 2003 3.0 to 1.0 End of 4th Quarter of 2003 2.75 to 1.0
Section 9. Section 7.4 of the Loan Agreement concerning "Investments, Loans, Etc." is amended to the extent that the aggregate amount of the Moyes Note and all other loans to Xxxxx Xxxxx and his Affiliates may be increased from $8,000,000 principal amount to $18,000,000.
Section 10. Section 7.11 shall be amended to read as follows: "Borrower will not pay or declare any dividends during any fiscal year in excess of 40% of Borrower's Net Income for such fiscal year; provided, that contemporaneously with an initial public offering, Borrower and Parent may declare and pay a dividend equal to all previously taxed S corporation income."
Maximum Lease Adjusted Leverage Ratio. Maintain a Lease Adjusted Leverage Ratio measured as at the last day of each Fiscal Quarter, of not greater than 4.00 to 1.00.
Maximum Lease Adjusted Leverage Ratio. As of the end of each fiscal quarter, commencing with the fiscal quarter ending on March 31, 2014, in each period described below, the Lease Adjusted Leverage Ratio for the Reference Period then ended shall not exceed the ratio set forth below opposite such period: Period: Maximum Lease Adjusted Leverage Ratio: March 31, 2014 through and including December 31, 2014 4.75 to 1.00
Maximum Lease Adjusted Leverage Ratio. The Borrower shall not permit the ratio (the "Lease Adjusted Leverage Ratio") of (i) the sum of (a) Total Debt plus (b) an amount equal to eight (8) times Rentals for the four-quarter period ending on such day to (ii) the sum of (a) EBITDA plus (b) Rentals to be greater than the ratio set forth below at the end of the fiscal quarter ending on the corresponding date set forth below:
Maximum Lease Adjusted Leverage Ratio. Ultimate Parent Co-Borrower agrees with the Administrative Agent and each Revolving Credit Lender, Term Loan Lender, Swing Loan Lender and Issuer that it shall have, on the last day of each Fiscal Quarter set forth below, a Lease Adjusted Leverage Ratio of not more than the maximum ratio set forth below opposite such Fiscal Quarter: Fiscal Quarter Ending Closest To Maximum Lease Adjusted Leverage Ratio December 28, 2008 5.50 to 1 March 31, 2009 5.50 to 1 June 30, 2009 5.50 to 1 September 30, 2009 5.25 to 1 January 3, 2010 5.25 to 1 March 31, 2010 5.00 to 1 June 30, 2010 5.00 to 1 September 30, 2010 4.75 to 1 January 2, 2011 4.75 to 1 March 31, 2011 4.75 to 1 June 30, 2011 4.75 to 1 September 30, 2011 4.75 to 1 January 1, 2012 4.75 to 1 March 31, 2012 4.75 to 1 June 30, 2012 4.75 to 1
Maximum Lease Adjusted Leverage Ratio. The Borrower shall not permit the ratio (the "LEASE ADJUSTED LEVERAGE RATIO") of (i) the sum of (a) Total Debt PLUS (b) an amount equal to eight (8) times Rentals for the four-quarter period ending on such day to (ii) the sum of (a) EBITDA PLUS (b) Rentals to be greater than the ratio set forth below at the end of the fiscal quarter ending on the corresponding date set forth below:
