Common use of Maximum Senior Leverage Ratio Clause in Contracts

Maximum Senior Leverage Ratio. The Guarantor will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters set forth below, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Guarantor and its Subsidiaries on a consolidated basis, to be greater than the ratio set forth opposite such fiscal quarter: Fiscal Quarter Ending On or About Maximum Senior Leverage Ratio November 2, 2008 2.25 to 1.00 January 31, 2009 and thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Guarantee Agreement (Photronics Inc)

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Maximum Senior Leverage Ratio. The Guarantor Company will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters set forth below, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Guarantor Company and its Subsidiaries on a consolidated basis, to be greater than the ratio set forth opposite such fiscal quarter: Fiscal Quarter Ending On or About Maximum Senior Leverage Ratio November 2April 29, 2007 through January 31, 2008 2.00 to 1.00 April 29, 2008 through July 27, 2008 2.25 to 1.00 January 31November 2, 2009 2008 and thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Credit Agreement (Photronics Inc)

Maximum Senior Leverage Ratio. The Guarantor Company will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters set forth below, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Guarantor Company and its Subsidiaries on a consolidated basis, to be greater than the ratio set forth opposite such fiscal quarter: Fiscal Quarter Ending On or About Maximum Senior Leverage Ratio November 2, 2008 2.25 to 1.00 January 31, 2009 and thereafter 1.50 to 1.001.00 (d) Paragraph (o) of Article VII is amended to delete the reference to “November 2, 2008” appearing therein and to substitute “December 5, 2008” in lieu thereof.

Appears in 1 contract

Samples: Credit Agreement (Photronics Inc)

Maximum Senior Leverage Ratio. The Guarantor Company will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters set forth below, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Guarantor Company and its Subsidiaries on a consolidated basis, to be greater than the ratio set forth opposite such fiscal quarter: Fiscal Quarter Ending On or About Maximum Senior Leverage Ratio November 2October 31, 2008 2.25 to 1.00 January 31, 2009 2.25 to 1.00 April 30, 2009 2.15 to 1.00 July 31, 2009 2.00 to 1.00 October 31, 2009 1.75 to 1.00 January 31, 2010 and thereafter 1.50 each Fiscal Quarter 1.25 to 1.001.00 ending thereafter

Appears in 1 contract

Samples: Credit Agreement (Photronics Inc)

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Maximum Senior Leverage Ratio. The Guarantor will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters set forth below, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Guarantor and its Subsidiaries on a consolidated basis, to be greater than the ratio set forth opposite such fiscal quarter: Fiscal Quarter Ending On or About Maximum Senior Leverage Ratio November 2April 29, 2007 through January 31, 2008 2.00 to 1.00 April 29, 2008 through July 27, 2008 2.25 to 1.00 January 31November 2, 2009 2008 and thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Guarantee Agreement (Photronics Inc)

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