Net Debt to EBITDA. Permit the Net Debt to EBITDA Ratio, as of the last day of each fiscal quarter, to be greater than 6.0:1.0.
Net Debt to EBITDA. If the ratio of Net Debt to EBITDA for the Relevant Period for each Quarter Day exceeds the relevant ratio set out in the table below alongside each Quarter Day as tested at each Quarter Day, no further facilities will be available to the Customer by BMBF under the Vehicle Finance Facility. Quarter Day Ratio 31st March 2010 4.62 30th June 2010 5.98 30th September 2010 5.49 31st December 2010 3.81
Net Debt to EBITDA. Maintain a ratio of Net Debt to EBITDA for the four fiscal quarters most recently ended for which financial information is available of less than 4.0 to 1.0 (in respect of the Parent and the Subsidiaries on a consolidated basis);
Net Debt to EBITDA. Permit the Net Debt to EBITDA Ratio, as determined as of the end of each fiscal quarter, to be greater than 5.0:1.0; provided, however, for any fiscal quarter in which Company or any Subsidiary has made a Material Acquisition, the Net Debt to EBITDA Ratio shall be permitted to be not greater than 5.75:1.0 (the “Increased Net Debt to EBITDA”) as of the end of the fiscal quarter in which such Material Acquisition occurred and as of the end of the immediately succeeding fiscal quarter (such period, the “Increased Net Debt to EBITDA Period”); provided further, however, that Company shall not be permitted to avail itself of the Increased Net Debt to EBITDA requirement for the 12-month period immediately succeeding any Increased Net Debt to EBITDA Period.
(g) Section 10.5(a) of the Note Agreement is hereby amended by deleting the words “net asset sale proceeds” in lines 6-7 thereof and replacing the same with “Net Asset Sale Proceeds”.
(h) Section 10.6 of the Note Agreement is hereby deleted in its entirety and replaced with the following:
Net Debt to EBITDA. The Borrower shall ensure that the ratio of Net Debt to EBITDA as at each Testing Date shall be not more than:
(a) in the case of each Testing Date falling on or prior to 31 May 2005, five (5): one (1);
(b) in the case of each Testing Date falling after 31 May 2005 and on or prior to 30 November 2005, three (3): one (1);
(c) in the case of each subsequent Testing Date, two point five (2.5): one (1), provided however that if (i) Net Debt is equal to or less than zero (0) as at any Testing Date, the Financial Covenant under this clause 8.2.2 shall not apply with respect to that Testing Date, and (ii) EBITDA is less than zero (0) as at any Testing Date and Net Debt as at that Testing Date is more than zero (0), there shall be deemed to be an immediate and automatic breach of the Financial Covenant under this clause 8.2.2.
Net Debt to EBITDA. Permit the Company’s Net Debt to EBITDA Ratio as of the end of any fiscal quarter to be greater than 3.50:1.
Net Debt to EBITDA. On any financial quarter end date, the ratio of Net Debt to EBITDA of the Golar MLP Group for the previous 12 months, on a trailing four quarter basis, shall be no greater than 6.5:1.
Net Debt to EBITDA. The Net Debt to EBITDA Threshold shall be calculated and maintained as set forth on Schedule 6 to this Agreement. "Net Debt" means on balance sheet Indebtedness of Great Lakes, including current maturities, minus cash on hand. "EBITDA" means with respect to any rolling four quarter period, an amount equal to the sum of (a) net income of Great Lakes for such fiscal period, plus (b) in each case to the extent deducted in the calculation of Great Lakes' net income and without duplication, (i) depreciation and amortization for such period, plus (ii) income tax expense for such period, plus (iii) the aggregate amount of interest required to be paid or accrued by Great Lakes during such period on all Indebtedness of the Great Lakes and its subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of any capitalized lease or any synthetic lease, and including commitment fees, agency fees, facility fees, balance deficiency fees and similar fees or expenses in connection with the borrowing of money, plus (iv) other noncash charges for such period, all as determined in accordance with GAAP.
Net Debt to EBITDA. The ratio of Net Debt to EBITDA for each period referred to in Column A shall not exceed the ratio set out in Column B opposite that period: Each Quarter Date from 31st December 2002 until 30th June 2003 2,5 Each Quarter Date from 30th September 2003 until 30th June 2004 2,0 Each Quarter Date from 30th September 2004 until 30th September 2005 1,5
Net Debt to EBITDA. At any date during each period set forth below, the ratio of (i) Consolidated Net Debt at such date to (ii) Consolidated EBITDA for the period of four consecutive Fiscal Quarters most recently ended on or prior to such date will not exceed the ratio set forth below opposite such period: --------------------------------------------------------------------------- Period Ratio --------------------------------------------------------------------------- 3/31/2001 - 9/29/2001 4.00:1 --------------------------------------------------------------------------- 9/30/2001 - 9/29/2002 3.00:1 --------------------------------------------------------------------------- 9/30/2002 and thereafter 2.50:1 ---------------------------------------------------------------------------
