Minimum Debt Service Ratio. The Company will not permit the Debt Service Ratio to be, as of the end of any Measurement Period, less than 2.50 to 1.00.
Minimum Debt Service Ratio. Each Borrower shall maintain a Debt Service Ratio of not less than 1.75:1.0.
Minimum Debt Service Ratio. The ratio of (i) Adjusted EBITDA of the Trust and its Subsidiaries determined on a consolidated basis for the period of two consecutive fiscal quarters of the Trust most recently ending to (ii) Debt Service for such period, to be less than 1.50 to 1.00 at any time.
Minimum Debt Service Ratio. The Obligors will not permit the Minimum Debt Service Ratio, calculated as of the end of each fiscal quarter of the Parent ending on or after the Effective Date, to be less than 1.75:1.00.
Minimum Debt Service Ratio. Fail to maintain a minimum debt service ratio for Guarantor and its subsidiaries (on a consolidated basis) of 1.25:1 based on a rolling four (4) quarter average, to be calculated as follows: (1) the sum of: (i) Net Income before taxes, (ii) depreciation and amortization expense, (iii) interest expense, and (iv) rent and lease expense, less (v) taxes, distributions, and cash dividends paid, divided by (2) the sum of: (i) current maturity of long term debt, (ii) interest expense, and (iii) rent and lease expense. For the purposes of testing the minimum debt service ratio, "interest expense" in the denominator shall be defined as interest expense of Unsubordinated Indebtedness plus interest paid on Permitted Subordinated Indebtedness. For the purposes of testing the minimum debt service ratio, "rent and lease expense" shall mean all amounts payable to any landlords and lessors by any Borrower Entity for the use of any real or personal property.
Minimum Debt Service Ratio. The ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the fiscal quarter of the Parent most recently ending to (ii) Debt Service for such period, to be less than 1.75 to 1.00 any time.
Minimum Debt Service Ratio. Borrower will maintain, on October 31, 2005, and at all times thereafter, a ratio of EBITDA to interest expense and scheduled principal payments in respect of Total Debt of not less than 1.15:1.00. Compliance with the financial covenants set forth in this Article VI shall be determined based on financial statements dated as of the close of business on the last day of the immediately preceding quarter for the related period.
Minimum Debt Service Ratio. 49 7.3 Minimum Consolidated Tangible Net Worth.................49
Minimum Debt Service Ratio. (a) Section 9.18 of the Loan Agreement is hereby amended by deleting the second proviso of such Section and replacing it with the following: “provided, further, that, if the aggregate Adjusted Excess Availability of Borrowers is equal to or greater than $22,500,000 for each of the ten (10) consecutive days immediately preceding the last day of any such Section 9.18 Test Period, then Group and its Subsidiaries shall not be required to comply with the terms of this Section 9.18 for such Section 9.18 Test Period.”
Minimum Debt Service Ratio. Borrower will maintain, on the last day of Borrower's fiscal year that includes the Construction Completion Date, and at all times thereafter, a ratio of EBITDA to interest expense and scheduled principal payments in respect of Total Debt of not less than 1.15:1.00. Compliance with the financial covenants set forth in this ARTICLE VI shall be determined based on year end audited financial statements.
