PRO FORMA FIXED CHARGE COVERAGE. On the last day of each fiscal quarter next following the Closing Date and the last day of each fiscal quarter thereafter, permit unrestricted cash in excess of $2,000,000 plus the amount, if any, by which the Borrowing Base exceeds all (i) Loans then outstanding under Facility A and Facility B and (ii) then outstanding Facility Letters of Credit Obligations to be less than 125% of the sum of the following for the quarter commencing on such Quarterly Payment Date, (a) required (including but not limited to scheduled) principal payments (remaining after any prepayments), (b) interest payments to be made in said quarter and (c) projected tax distributions which for the purpose of this Agreement shall mean tax payments on the Consolidated Net Income of the Borrower excluding income from Subsidiaries which are not Subsidiary Guarantors or Joint Ventures, calculated at the maximum federal tax rate for a corporation plus the maximum applicable state income tax.
PRO FORMA FIXED CHARGE COVERAGE. (a) Line l(h)/2(h) ____:1.00 (b) Minimum Fixed Charge Coverage 1.50:1.00 (c) Test Satisfied? Yes No Exhibit "A" to Borrowing Request - Solo Page EXHIBIT "B" $___________ to NELNET LOAN SERVICES, INC. NELNET, INC. BORROWING REQUEST FORM Consolidated Net Income
PRO FORMA FIXED CHARGE COVERAGE. (a) Line1(m) / 2(h) ____:1.00 (b) Minimum Fixed Charge Coverage 1.50:1.00 (c) Test Satisfied? Yes No
