Minimum Cash Flow Coverage. The Borrower shall maintain a minimum ratio of consolidated EBITDA less cash dividends and less cash income taxes (determined in accordance with GAAP), divided by the current maturities of Borrower's and Subsidiaries' Long-Term Debt plus interest, of not less than 1.50 to 1, all measured as at the end of each of Borrower's fiscal quarters for the period including such fiscal quarter and the immediately preceding three (3) fiscal quarters.
Minimum Cash Flow Coverage. Borrower shall not permit, as of the last day of each fiscal quarter of Borrower, the ratio (the “Cash Flow Coverage Ratio”) of (a) Cash Flow From Operations to (b) Consolidated Home Building Interest Incurred less non-cash interest expense, for any period consisting of the preceding four (4) consecutive fiscal quarters, to be less than 1.75 to 1.0 unless Borrower has deposited into a deposit account held at Administrative Agent (the “Interest Reserve Account”) an amount equal to the amount of Consolidated Home Building Interest Incurred less non-cash interest expense for the period consisting of the preceding four (4) consecutive fiscal quarters (and shall maintain such amount on deposit with Administrative Agent at all times until a compliance certificate is submitted to Administrative Agent pursuant to Section 8.1(e) reflecting that Borrower has met the Cash Flow Coverage Ratio set forth above for the most recently ended four (4) consecutive fiscal quarters).
(y) The Revolving Credit Agreement is hereby amended to add the following new Section 8.22:
Minimum Cash Flow Coverage. The Borrower shall, at the end of such Test Period, maintain a ratio of (i) Consolidated EBITDAR less all taxes paid in cash during such Test Period less Cash Capex plus Net Proceeds from Asset Sales to (ii) Consolidated Interest and Rental Expense plusCMLTD which shall be not less than 1.25 to 1.0.
Minimum Cash Flow Coverage. Guarantor will maintain at all times beginning on the Closing date a minimum cash flow coverage ratio of 1.20 to 1, measured at fiscal year end 12/31/05. Cash flow coverage shall be defined as net income after taxes, plus interest expense, plus non-cash depreciation and amortization expenses, minus non-financed Capital Expenditures, divided by current maturities of long-term debt, plus interest expense.
Minimum Cash Flow Coverage. The Borrower and its Subsidiaries on a Consolidated Basis shall not permit at any time the Cash Flow Coverage Ratio to be less than 1.5:1.00.
Minimum Cash Flow Coverage. Maintain a Cash Flow Coverage Ratio of not less than 1.50 to 1.00 for the nine-month year to date period ending as of September 30, 2004, and as of each fiscal quarter thereafter, as tested on a rolling four quarters basis, as of December 31, March 30, June 30, and September 30 of each year based upon the financial results of the Borrower and its Subsidiaries for the four most recent fiscal quarters then ended.
Minimum Cash Flow Coverage. The Borrower shall not permit the -------------------------- ratio of Operating Cash Flow to the total Fixed Charges to be less than the following amounts for the following periods, on a rolling four (4) quarter basis:
Minimum Cash Flow Coverage. The Company will not -------------------------- permit the ratio of (a) its net income from operations and investments plus depreciation, amortization and other non-cash charges plus interest ---- ---- expense and lease expense less dividends divided by (b) its current ---- portion of long-term debt plus interest expense plus lease expense to be ---- ---- less than 1.0 to 1.0 as measured at the end of each fiscal quarter of each fiscal year on a rolling four-quarter basis commencing at Company's 1997 fiscal year end.
Minimum Cash Flow Coverage. Borrower shall not permit its Cash Flow Coverage Ratio, as at the end of fiscal quarter commencing with September 30, 2003 and thereafter to be less than 2.00 to 1.00.
Minimum Cash Flow Coverage. Maintain at all times a ratio ("Cash Flow Coverage Ratio") of (i) minimum cash flow (defined as net income, plus interest, non-cash deferred taxes, depreciation and amortization) to (ii) debt service (defined as current maturity long-term debt, including Capital Lease payments, plus interest, but excluding any advances under the $8,500,000 Revolving Note) in excess of 1.75 to 1.
