Operating Cash-Flow to Total Fixed Charge Ratio Sample Clauses

Operating Cash-Flow to Total Fixed Charge Ratio. Maintain a ratio of operating cash flow to total fixed charges of not less than 1.15 to 1.00 as at the end of each fiscal quarter based on the preceding trailing twelve month period. Operating Cash Flow is defined as (i) net income (ii) less investment gains (losses) (iii) plus proceeds from the sale of Investments consistent with GAAP, (iv) less any other non-recurring income, (v) plus interest expense (excluding interest expense in respect of Short Term Line Financing secured by marketable securities) (vi) plus depreciation (vii) plus amortization, (viii) plus Lease Expense, (ix) plus charges incurred in connection with Lease and Leasehold abandonments, (x) less Cash Dividends paid after March 31, 2005, (xi) less Income Tax Benefit , and (xii) plus income tax expense to the extent it does not result in a required tax payment (xiii) less results related to and charges taken by the Borrower against income for discontinued operations of the Borrower in the amount of $7,292,000.00 for the period ending June 30, 2005; $2,766,000.00 for the period ending September 30, 2005; $1,500,000.00 for the period ending December 31, 2005, and $1,500,000.00 for the period ending March 31, 2006. Amortization is defined as (i) the amount of any expense(s) required to be recognized by the Borrower, in accordance with GAAP for any period and reflected in the Borrower’s financial statement for such period, for (a) the Borrower’s Intangible Assets, (b) the Borrower’s issuance of (1) any restricted stock, (2) notes, (3) warrants and/or (4) stock to match 401K contribution obligations, (c) cost incurred in the issuance of any options, (ii) less charges taken by the Borrower against income for a given period for discontinued operation of the Borrower. Total fixed charges are defined as Interest Expense (excluding interest expense in respect of Short Term Line Financing secured by marketable securities), plus Lease Expense plus current maturities on Long Term Debt/current maturities on long term Capital Leases plus maintenance CAPEX. Maintenance CAPEX is defined as CAPEX without a corresponding debt or lease financing commitment for the twelve month period under consideration.
Sample 1Sample 2
Operating Cash-Flow to Total Fixed Charge Ratio. Borrower shall maintain a ratio of Operating Cash Flow to Total Fixed Charges of not less than 1.25 to 1:00, tested at the end of each fiscal quarter for the preceding 12-month period.
Sample 1
Operating Cash-Flow to Total Fixed Charge Ratio. Maintain a ratio of operating cash flow to total fixed charges of not less than 1.15 to 1.00 as at the end of each fiscal quarter based on the preceding trailing twelve month period. Operating cash flow is defined as net income less any other non-recurring income plus depreciation/amortization, plus Lease Expense, less Cash Dividends. DesCap’s officer’s compensation in excess of contractual compensation for the periods ending March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 will be added to operating cash flow. Total fixed charges are defined as Interest Expense, plus Lease Expense plus current maturities on Long Term Debt/current maturities on long term Capital Leases plus maintenance CAPEX. Maintenance CAPEX is defined as CAPEX without a corresponding debt or lease financing for the twelve month period under consideration.
Sample 1
Operating Cash-Flow to Total Fixed Charge Ratio. Borrower shall maintain a ratio of Operating Cash Flow to Total Fixed Charges of not less than 1.30 to 1.00; calculated at the end of each fiscal year end for the preceding 12-month period. The words "Operating Cash Flow" mean net income and taxes and exclusive of extraordinary gains and losses and gains on asset sales and other income, plus depreciation, amortization, interest expense and lease expense, less dividends and distributions. The words "Total Fixed Charges" mean interest expense, plus current maturities of long-term debt and current maturities of capital leases, plus leases expenses, plus preferred stock dividends, plus Capital Expenditures (calculated for the preceding twelve-month period). The words "Capital Expenditures" mean current period net fixed assets less prior period net fixed assets, plus current period depreciation. BORROWING PLAN. An exhibit, titled "BORROWING PLAN," is attached to this Agreement and by this reference is made a part of this Agreement [ILLEGIBLE], as if all the provisions, terms and conditions of the Exhibit had been fully set forth in this Agreement.
Sample 1

Related to Operating Cash-Flow to Total Fixed Charge Ratio

  • Minimum Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.5 to 1.0.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.00.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Fixed Charge Ratio Maintain a Fixed Charge Ratio as determined as of each Calculation Date of not less than 1.50: 1. The Fixed Charge Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.

  • Minimum Fixed Charge Coverage Ratio Permit the Fixed Charge Coverage Ratio, as of the last day of any fiscal quarter of the Company, to be less than 1.5:1.00.

  • Fixed Charge Coverage Ratio The Borrower shall not permit the Fixed Charge Coverage Ratio to be less than 1.15 to 1.0 at the end of the fiscal quarter ended on June 30, 2008, or at the end of any fiscal quarter ended thereafter.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Minimum Consolidated EBITDA Parent will not permit Consolidated EBITDA for any Test Period ended on the last day of a fiscal quarter described below to be less than the respective amount set forth opposite such period below: Fiscal Quarter Ended Closest to Amount --------------- -------- June 30, 1999 $32,000,000 September 30, 1999 $35,500,000 December 31, 1999 $37,000,000 March 31, 2000 $38,000,000 June 30, 2000 $39,000,000 September 30, 2000 $41,000,000 December 31, 2000 $42,000,000 March 31, 2001 $43,000,000 June 30, 2001 $43,500,000 September 30, 2001 $44,000,000 December 31, 2001 $44,500,000 March 31, 2002 $45,000,000 June 30, 2002 $45,500,000 September 30, 2002 $46,000,000 December 31, 2002 $46,500,000 March 31, 2003 $47,000,000 June 30, 2003 $47,500,000 September 30, 2003 $48,000,000 December 31, 2003 $48,500,000 March 31, 2004 $49,000,000 June 30, 2004 $49,500,000 September 30, 2004 $50,000,000 December 31, 2004 $50,500,000 March 31, 2005 $51,000,000

  • Cash Flow Coverage Ratio The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s consolidated Interest Expense plus (ii) the Company’s scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Consolidated Total Leverage Ratio Permit the Consolidated Total Leverage Ratio as of the last day of any fiscal quarter ending on or after September 30, 2008 to be greater than 3.5 to 1.0.