Maximum Senior Debt Ratio. The Parent will not permit the Senior Debt Ratio for any Computation Period to exceed the ratio set forth below opposite the period in which such Computation Period ends: Period Ratio ------ ----- 6/30/01 through 6/30/02 ***:1 9/30/02 through 3/31/03 ***:1 6/30/03 through 3/31/04 ***:1 6/30/04 through 3/31/05 ***:1 -95- 106 6/30/05 and thereafter ***:1.
Maximum Senior Debt Ratio. As of the last day of any fiscal quarter, permit the Maximum Senior Debt Ratio to exceed the following levels during the periods indicated: Period Ratio ------ ------ Closing Date to and including June 30, 2000 4:50:1 July 1, 2000 to and including June 30, 2001 4:00:1 61 56 July 1, 2001 to and including December 31, 2002 3:75:1 January 1, 2003 and thereafter 3:25:1
Maximum Senior Debt Ratio. From and after the date of the closing of the Bond Issuance, the Borrower shall not permit the ratio, as of the last day of each fiscal quarter of 66 the Borrower, beginning with the fiscal quarter ending March 31, 2004, of (a) the consolidated Debt of the Borrower as of such fiscal quarter end (other than Debt incurred pursuant to the Bond Issuance) to (b) EBITDA for the four-fiscal quarter period then ended, to be greater than 1.75 to 1.00; provided that (i) with respect to the fiscal quarter period ending March 31, 2004, EBITDA shall be measured by multiplying EBITDA for the three-month period then ended by four, (ii) with respect to the fiscal quarter period ending June 30, 2004, EBITDA shall be measured by multiplying EBITDA for the two quarters then ended by two, and (iii) with respect to the fiscal quarter ending September 30, 2004, EBITDA shall be measured by multiplying EBITDA for the three quarters then ended by 4/3.
Maximum Senior Debt Ratio. Effective upon the incurrence by any Company of Funded Debt in the amount of $100,000,000 or more which is contractually subordinated or junior in right of payment to the Obligation, Borrower shall not permit the ratio, as of the last day of each fiscal quarter of Borrower listed below, of Senior Debt as of such date to EBITDA for the four fiscal quarters ended on such date to exceed the ratio set forth below opposite such day: October 31, 1998 4.50 to 1.00 January 31, 1999 3.25 to 1.00 April 30, 1999 3.25 to 1.00 July 31, 1999 3.25 to 1.00 October 31, 1999 3.25 to 1.00 January 31, 2000 3.00 to 1.00 April 30, 2000 3.00 to 1.00 July 31, 2000 3.00 to 1.00 October 31, 2000 3.00 to 1.00 January 31, 2001 2.75 to 1.00 April 30, 2001 2.75 to 1.00 July 31, 2001 2.75 to 1.00 October 31, 2001 2.75 to 1.00 Thereafter 2.50 to 1.00
Maximum Senior Debt Ratio. Not permit the Senior Debt ------------------------- Ratio for the 12-month period ending on the last day of each month set forth below to exceed the ratio set forth next to such month: MONTH ENDING SENIOR DEBT RATIO June 30, 2003 5.00 to 1.00 July 31, 2003 8.00 to 1.00 August 31, 2003 10.00 to 1.00 Sept. 30, 2003 11.00 to 1.00 Oct. 31, 2003 14.50 to 1.00 Nov. 30, 2003 18.50 to 1.00 Dec. 31, 2003 21.00 to 1.00 Jan. 31, 2004 14.50 to 1.00 Feb. 29, 2004 10.50 to 1.00 March 31, 2004 9.00 to 1.00 April 30, 2004 8.00 to 1.00 May 31, 2004 7.00 to 1.00 June 30, 2004 5.50 to 1.00 July 31, 2004 5.00 to 1.00 Aug. 31, 2004 4.50 to 1.00 Sept. 30, 2004 4.00 to 1.00 Oct. 31, 2004 and each month ending thereafter 4.00 to 1.00"
(d) Section 10.6(d) of the Agreement is amended by deleting it and replacing it with the following:
Maximum Senior Debt Ratio. 39 10.4 Minimum Fixed Charge Coverage Ratio...........................40
Maximum Senior Debt Ratio. Company shall not permit the ratio of (i) Consolidated Senior Debt as of the last day of any Fiscal Quarter ending during any of the periods set forth below to (ii) Consolidated Adjusted EBITDA for the four-Fiscal Quarter period ending on such day to exceed the correlative ratio indicated: PERIOD MAXIMUM SENIOR DEBT RATIO September 30, 1996 3.5 October 1, 1996 through December 31, 1998 3.0 January 1, 1999 through December 31, 1999 2.0 January 1, 2000 through December 31, 2000 1.5 Thereafter 1.0
Maximum Senior Debt Ratio. 97 8.14 Maximum Total Debt Ratio....................................................97 8.15 Maximum Capital Expenditures................................................97 8.16
Maximum Senior Debt Ratio. Permit the Maximum Senior Debt Ratio ------------------------- of the Borrower and its Subsidiaries on a consolidated basis to exceed the following levels for the periods indicated: Period Ratio ------ ----- Second Amendment Effective Date to and including 4.00:1 March 30, 2004 March 31, 2004 to and including 3.50:1 September 29, 2005 September 30, 2005 and thereafter 3.00:1."
(p) Section 6.2 of the Credit Agreement is amended in the following manner:
(1) by inserting "provided that the Indebtedness of the Borrower or -------- ---- any of its Subsidiaries secured by Liens referred to in Section 6.3(f) shall be permitted only if any draw, offset or application of any such pledge or deposit is reimbursed within thirty days;" immediately after the semicolon in subsection (b) therein;
(2) by deleting the reference to "nine months after the Term B Maturity Date" in clause (ii) of subsection (d) therein and substituting "twelve months after the later of the Revolving Loan Commitment Expiration Date and (if such facility shall be activated) the Incremental Loan Commitment Expiration Date"; provided that the amendment in clause (3) herein shall not be effective until the Term B Loans are paid in full; and
(3) by restating subsection (h) in its entirety to read as follows:
Maximum Senior Debt Ratio. As of the last day of each fiscal quarter of the Borrower, the ratio of (i) the Borrower's Debt as of such day minus the outstanding principal amount of the Subordinated Debt as of such day; provided that (A) on the last day of the fiscal quarter ending on or about April 30, 1999, one-fourth, (B) on the last day of the fiscal quarter ending on or about July 31, 1999, one-half, and (C) on the last day of the fiscal quarter ending on or about October 31, 1999, three-fourths of the Borrower's Debt and Subordinated Debt as at each such day shall be used to calculate this ratio to (ii) EBITDA (A) for the fiscal quarter ending on or about Xxxxx 00, 0000, (X) for the two fiscal quarters ending on or about July 31, 1999, (C) for the three fiscal quarters ending on or about October 31, 1999, and (D) for the four fiscal quarters ending on each such day thereafter plus, with respect to each acquisition permitted by this Agreement and made during such period, the aggregate amount of EBITDA attributable to the business acquired for the period commencing of the first day of such period and ending on the day of the closing of such acquisition minus, with respect any asset sales permitted by this Agreement and made during such period, the aggregate amount of EBITDA attributable to the assets sold during such period shall not be greater than (A) 3.25 to 1.00 as of the fiscal quarters ending from on or about April 30, 1999 through July 31, 1999, (B) 3.00 to 1.00 for the fiscal quarters ending from on or about October 31, 1999 through on or about July 31, 2000, and (C) 2.50 to 1.00 for each fiscal quarter ending thereafter.
