Maximum Total Debt to EBITDA. On the last day of each fiscal quarter after December 31, 2003, a ratio of Total Debt as of each such date to EBITDA for Greka and its Subsidiaries for the 12- month period ending as of each such date of not more than 3.90:1.00.
Maximum Total Debt to EBITDA. Xxxxxx shall maintain a ratio of Total Debt to EBITDA for the trailing twelve months ending on the dates set forth below of less than or equal to 4.2 for each fiscal quarter during the term of this Agreement.
Maximum Total Debt to EBITDA. The Company and its consolidated Subsidiaries will have at the end of each fiscal quarter of the Company a “Total Debt to EBITDA” ratio of not greater than 4.25 to 1. For purposes hereof: (1) Total Debt” shall mean the sum of: (a) all indebtedness, obligations and liabilities of the Company with respect to borrowed money (including the issuance of debt securities), (b) all guaranties, endorsements and other contingent obligations of the Company with respect to indebtedness arising from money borrowed by others, (c) all reimbursement and other obligations with respect to letters of credit, bankers acceptances, customer advances, and other extensions of credit whether or not representing obligations for borrowed money, (d) the aggregate of the principal components of all leases and other agreements for the use, acquisitions retention of real or personal property which are required to be capitalized under GAAP, (e) all indebtedness, obligations and liabilities representing the deferred purchase price of property or services, (f) all indebtedness secured by a lien of the Property of the Company, whether or not the Company has assumed or become liable for the payment of such indebtedness, and (g) all obligations of the Company under any agreement providing for an interest rate swap, cap, and floor, contingent participation or other hedging mechanisms with respect to interest payable on any of the items described above; and (2) “EBITDA” shall mean: (a) net income before provision for incomes taxes for the preceding four fiscal quarter period ending on such date (the “Four Quarter Period”), plus (b) interest expense, including without limitation, implicit interest expense on capitalized leases for the Four Quarter Period, plus (c) depreciation expense, amortization expense, and similar noncash charges for the Four Quarter Period, plus (d) any extraordinary, unusual or non-recurring losses or charges for the Four Quarter Period, minus (e) any gain associated with the sale or write-down of assets for the Four Quarter Period, minus (f) any gain from discontinuance of operations for the Four Quarter Period, minus (g) any extraordinary, unusual or non-recurring gains or credits for the Four Quarter period (all a determined in accordance with GAAP consistently applied).
Maximum Total Debt to EBITDA. The Company and its consolidated Subsidiaries will have at the end of each fiscal quarter of the Company a ratio of Total Debt to EBITDA of not greater than 4.25 to 1.00. For purposes hereof: (1) Total Debt” shall mean the sum of (i) all indebtedness, obligations and liabilities of the Company with respect to borrowed money (including the issuance of debt securities), (ii) all guaranties, endorsements and other contingent obligations of the Company with respect to indebtedness arising from money borrowed by others, (iii) all reimbursement and other obligations with respect to letters of credit, bankers acceptances, customer advances, and other extensions of credit whether or not representing obligations for borrowed money, (iv) the aggregate of the principal components of all leases and other agreements for the use, acquisitions retention of real or personal
Maximum Total Debt to EBITDA. The Company and its consolidated Subsidiaries will have at the end of each fiscal quarter of the Company a ratio of Total Debt to EBITDA of not greater than 4.25 to 1.00. For purposes hereof: (1) Total Debt” shall mean the sum of (i) all indebtedness, obligations and liabilities of the Company with respect to borrowed money (including the issuance of debt securities), (ii) all guaranties, endorsements and other contingent obligations of the Company with respect to indebtedness arising from money borrowed by others, (iii) all reimbursement and other obligations with respect to letters of credit, bankers acceptances, customer advances, and other extensions of credit whether or not representing obligations for borrowed money, (iv) the aggregate of the principal components of all leases and other agreements for the use, acquisitions retention of real or personal property which are required to be capitalized under GAAP, (v) all indebtedness, obligations and liabilities representing the deferred purchase price of property or services, (vi) all indebtedness secured by a lien of
Maximum Total Debt to EBITDA. It shall not permit the ratio of its total debt to its EBITDA to exceed the following:
(i) 1.20 from the date of this Agreement until December 31, 2003;
(ii) 1.15 from January 1, 2004, through December 31, 2004; and
(iii) 1.05 from January 1, 2005 and thereafter.
Maximum Total Debt to EBITDA. The Total Debt to Consolidated EBITDA Ratio at the end of each Fiscal Quarter shall not exceed 4.00 to 1.
