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.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Minimum Interest Coverage. Commencing with the third fiscal quarter of 2011on October 1, 2013, the Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less than 2.50 2.00 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 at all periods thereafter such ratio shall times be calculated on a trailing four quarter basis.”
Appears in 2 contracts
Samples: Second Amendatory Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Minimum Interest Coverage. Commencing with the third fiscal quarter of 2011, the Borrower Guarantor 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 second fiscal quarter of 20112012, provided that for the third fiscal quarter of 2012 and all periods thereafter such ratio shall be calculated on a trailing four quarter basis.
Appears in 1 contract
Minimum Interest Coverage. Commencing with the third fiscal quarter of 2011, the Borrower Guarantor 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 second fiscal quarter of 20112012, provided that for the third fiscal quarter of 2012 and all periods thereafter such ratio shall be calculated on a trailing four quarter basis.. to read as follows:
Appears in 1 contract
Minimum Interest Coverage. Commencing with the third fifth fiscal quarter of 2011following the Effective Date, 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 fifth fiscal quarter of 2011following the Effective Date, provided that for the third ninth fiscal quarter of 2012 following the Effective Date and all periods thereafter such ratio shall be calculated on a trailing four quarter basis.
Appears in 1 contract
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.”
Appears in 1 contract
Minimum Interest Coverage. Commencing with the third fiscal quarter of 2011, the 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 last day of each 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 quarters basis.
Appears in 1 contract
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 2.00 to 1.00, provided that for the first fiscal quarter of 2013 and all periods thereafter such ratio shall be 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 at all periods thereafter such ratio shall times be calculated on a trailing four quarter basis.”
Appears in 1 contract