Common use of Ratio of Adjusted EBITDA to Fixed Charges Clause in Contracts

Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the period of four consecutive fiscal quarters most recently ended to (ii) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for such period, to be less than (x) 1.40 to 1.00 for any such period ending on or before September 30, 2020, or (y) 1.50 to 1.00, for any such period ending thereafter.” (k) Section 8.1(d) of the Term Loan Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Seven Year Term Loan Agreement (Pennsylvania Real Estate Investment Trust)

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Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the period of four consecutive fiscal quarters most recently ended ending to (ii) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for such period, to be less than (xA) 1.40 to 1.00 1 for any such period ending on or before September 30December 31, 2020, or 2008 and (yB) 1.50 to 1.00, 1 for any such period ending thereafterafter December 31, 2008. (kj) Section 8.1(d) of the Term Loan The Credit Agreement is hereby amended and restated by deleting Section 8.1.(k) in its entirety as followsand substituting in its place the following:

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the period of four consecutive fiscal quarters most recently ended to (ii) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for such period, to be less than (x) 1.40 to 1.00 for any such period ending on or before September 30, 2020, or (y) 1.50 to 1.00, for any such period ending thereafter.” (km) Section 8.1(d) of the Term Loan Credit Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

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Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the period of four consecutive fiscal quarters most recently ended to (ii) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for such period, to be less than (x) 1.40 1.35 to 1.00 for any such period ending on or before September 301.00, 2020, prior to the Optional Amendment Effective Date or (y) 1.50 1.40 to 1.00, for any such period ending thereafteron and after the Optional Amendment Effective Date. (kv) Section 8.1(d) of the Term Loan The Credit Agreement is hereby amended and restated by restating Section 8.1.(e)(i) in its entirety as follows:

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

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