Minimum Debt Service Coverage. The Company will maintain on each date set forth below, the ratio of (i) the sum of its after-tax net income, depreciation, and amortization expense and interest expense, to (ii) the sum of its interest, capital expenditures, and current maturities of long term debt (excluding as long term debt, the indebtedness of the Company to NBCI incurred pursuant to the credit agreement between Company and NBCI, or any replacement of such indebtedness) (in each case determined in accordance with generally accepted accounting principles, and calculated for the twelve months ending on such date) greater than or equal to the ratio set forth opposite such date: -11- 12 DATE RATIO ---- ----- June 30, 1995 1.50 to 1 September 30, 1995 1.50 to 1 December 31, 1995 1.50 to 1 March 31, 1996 1.50 to 1 June 30, 1996 1.50 to 1 September 30, 1996 and each fiscal quarter 1.50 to 1 end thereafter
Appears in 2 contracts
Samples: Convertible Subordinated Debenture Purchase Agreement (Rockford Corp), Convertible Subordinated Debenture Purchase Agreement (Rockford Corp)
Minimum Debt Service Coverage. The Company will shall maintain on each date set forth below, the ratio of (i) the sum of its after-tax net income, depreciation, depreciation and amortization expense and interest expense, to (ii) the sum of its interest, capital expenditures, expenditures and current maturities of long term debt (excluding as long term debt, the indebtedness of the Company to NBCI incurred pursuant to the credit agreement between Company and NBCI, or any replacement of such indebtedness) (), in each case determined in accordance with generally accepted accounting principles, and calculated for all dates prior to September 30, 1994 on a fiscal year to date basis, and thereafter, for the twelve months ending on such date) , which is greater than or equal to the ratio set forth opposite such date: -11- 12 DATE RATIO ---- ----- June 30, 1994 1.20 to 1 September 30, 1994 1.25 to 1 December 31, 1994 1.50 to 1 March 31, 1995 1.50 to 1 June 30, 1995 1.50 to 1 September 30, 1995 1.50 to 1 December 31, 1995 1.50 to 1 March 31, 1996 1.50 to 1 June 30, 1996 1.50 to 1 September 30, 1996 and each fiscal quarter end thereafter 1.50 to 1 end thereafter1
Appears in 2 contracts
Samples: Convertible Subordinated Debenture Amendment Agreement (Rockford Corp), Convertible Subordinated Debenture Amendment Agreement (Rockford Corp)
Minimum Debt Service Coverage. The Company will maintain on each date set forth below, the ratio of (i) the sum of its after-tax net income, depreciation, and amortization expense and interest expense, to (ii) the sum of its interest, capital expenditures, and current maturities of long term debt (excluding as long term debt, the indebtedness of the Company to NBCI incurred pursuant to the credit agreement between Company and NBCI, or any replacement of such indebtedness) (in each case determined in accordance with generally accepted accounting principles, and calculated for the twelve months ending on such date) greater than or equal to the ratio set forth opposite such date: -11- 12 DATE RATIO ---- ----- June 30, 1995 1.50 to 1 September 30, 1995 1.50 to 1 December 31, 1995 1.50 to 1 -11- 12 DATE RATIO ---- ----- March 31, 1996 1.50 to 1 June 30, 1996 1.50 to 1 September 30, 1996 and each fiscal quarter 1.50 to 1 end thereafter
Appears in 1 contract
Samples: Convertible Subordinated Debenture Purchase Agreement (Bartol Timothy C)