Minimum Interest Coverage. The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.
Minimum Interest Coverage. Commencing with the third fiscal quarter of 2011, the Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less than 2.50 to 1.00. Such ratio shall be calculated quarterly on a trailing quarter basis from and including the third fiscal quarter of 2011, provided that for the third fiscal quarter of 2012 and all periods thereafter such ratio shall be calculated on a trailing four quarter basis.
Minimum Interest Coverage. Each of the Company and the Parent Guarantor will not at any time permit the ratio of Consolidated Income Available for Debt Service to the Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters then most recently ended to be less than 1.50 to 1.00.
Minimum Interest Coverage. The Company shall not permit the ratio of (i) EBITDA of the Company to (ii) Cash Interest Expense of the Company for any four (4) consecutive Fiscal Quarter periods to be less than 2.00:1.00.
Minimum Interest Coverage. Not permit the Interest Coverage Ratio as of the last day of any Computation Period to be less than the applicable ratio set forth below: COMPUTATION INTEREST PERIOD ENDING: COVERAGE RATIO -------------- -------------- Closing Date through 12/31/00 1.49 to 1.0 1/01/01 through 12/31/01 1.70 to 1.0 1/01/02 and thereafter 1.91 to 1.0
Minimum Interest Coverage. Borrower shall not permit, at any time, the ratio (the “Interest Coverage Ratio”) of (a) Home Building EBITDA to (b) Consolidated Home Building Interest Incurred, for any period consisting of the preceding four (4) consecutive fiscal quarters (each, a “Measurement Period”), to be less than 1.75 to 1.0. Notwithstanding the foregoing, (i) the Interest Coverage Ratio may be less than 1.75 to 1.0 but not less than 1.25 to 1.0, as of the last day of not more than eight (8) consecutive Measurement Periods (such period beginning with the last day of the first Measurement Period in which the Interest Coverage Ratio is less than 1.75 to 1.0 and ending on the earlier of (x) the last day of the eighth Measurement Period thereafter or (y) the date Borrower gives written notice to Administrative Agent that Borrower has elected to terminate such period (such period being the “Reduced Interest Coverage Period”), and (ii) during such Reduced Interest Coverage Period, the Interest Coverage Ratio may be less than 1.25 to 1.0 but not less than 1.00 to 1.0, as of the last day of not more than four (4) Measurement Periods, in each case so long as the following conditions precedent are satisfied:
(A) Borrower shall have delivered to Administrative Agent written notice of the commencement of a Reduced Interest Coverage Period, together with the Compliance Certificate pursuant to Section 8.1(e) indicating the first Measurement Period that it will not achieve an Interest Coverage Ratio of 1.75 to 1.0 (such written notice to be delivered at the same time as the Compliance Certificate with respect to the last day of the first Measurement Period in which Borrower is electing to begin the Reduced Interest Coverage Period);
(B) Borrower shall have provided Administrative Agent with an updated business plan for Borrower and its Subsidiaries, reflecting Borrower’s reasonable estimate as to when it will exit the Reduced Interest Coverage Period (provided, that, such updated business plan shall be provided no later than twenty (20) days following Borrower’s delivery to Administrative Agent of the notice described in the immediately preceding paragraph (A));
(C) Borrower may elect only one (1) Reduced Interest Coverage Period during the term of this Agreement. Provided further that, in the case of an Interest Coverage Ratio of less than 1.75 to 1.0, Borrower may not (x) repurchase shares of its capital stock (other than (i) shares repurchased from Borrower’s employees in connection with tax...
Minimum Interest Coverage. The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense (excluding any commitment fees on the undrawn parts of the Total Commitments) equal to or greater than:
(a) from the date of this Agreement up to (and including) September 30, 2013, 2.00 to 1.00; and
(b) at all other times thereafter, 2.50 to 1.00. Such ratio shall be calculated quarterly on a trailing four quarter basis.
Minimum Interest Coverage. The Company shall not permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter to be less than 3.5 to 1.0.
Minimum Interest Coverage. The Borrower will not permit its Consolidated Interest Coverage Ratio to be less than 3.00 to 1.00 at any time; provided that upon the consummation of a Material Acquisition that is a Permitted Acquisition, the Borrower will not permit such ratio to be less than 2.75 to 1.00 until the end of the last day of the third full fiscal quarter of the Borrower after the consummation of such Material Acquisition, at which time the lowest Consolidated Interest Coverage Ratio permitted to be maintained by the Borrower will automatically revert back to 3.00 to 1.00.
Minimum Interest Coverage. Not permit the Interest Coverage Ratio for any Computation Period to be less than the applicable ratio set forth below: 42
