Common use of Ratio of Total Debt to EBITDA Clause in Contracts

Ratio of Total Debt to EBITDA. the Borrower will not permit the Borrower’s ratio of Total Debt as of the last day of any fiscal quarter to annualized EBITDA during the period set forth below to be greater than the ratio for such period set forth below. The foregoing ratio shall be annualized by multiplying EBITDA by four; June 30, 2007 - December 31, 2007 6.00:1.00 March 31, 2008 - September 30, 2008 4.00:1.00 September 30, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 and thereafter 2.00:1.00

Appears in 1 contract

Samples: Credit Agreement (Petro Resources Corp)

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Ratio of Total Debt to EBITDA. the Borrower will not permit the Borrower’s its ratio of Total Debt as of outstanding to EBITDA (calculated for the last day of any preceding four consecutive fiscal quarter to annualized EBITDA during the period set forth below then most recently ended for which financial statements are available) to be greater than the ratio (a) for such period set forth below. The foregoing ratio shall be annualized by multiplying EBITDA by four; any time on or before September 11, 2013, 4.50 to 1.0, (b) for any time after September 11, 2013 and on or before March 31, 2014, 5.0 to 1.0, (c) for any time after April 1, 2014 and on or before June 30, 2007 - December 312014, 2007 6.00:1.00 March 314.75 to 1.0, 2008 - September and (d) for any time after June 30, 2008 4.00:1.00 September 302014, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 and thereafter 2.00:1.004.50 to 1.0.”

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

Ratio of Total Debt to EBITDA. the The Borrower will not not, at any time, permit the Borrower’s ratio of Total Debt (excluding current account payable that are not more than sixty (60) days past their invoice date) as of the last day of any fiscal quarter to annualized EBITDA during the for such period set forth below as of such time to be greater than the ratio for such period set forth belowbelow for the applicable period. The foregoing ratio shall be annualized by multiplying EBITDA by four; four (4). March 31, 2006 4.00:1.00 June 30, 2007 - December 31, 2007 6.00:1.00 March 31, 2008 - September 30, 2008 4.00:1.00 September 30, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 2006 and thereafter 2.00:1.003.00:1.00

Appears in 1 contract

Samples: Credit Agreement (CrossPoint Energy CO)

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Ratio of Total Debt to EBITDA. the Borrower will not permit the Borrower’s its ratio of Total Debt as of outstanding to EBITDA (calculated for the last four consecutive fiscal quarter period then most recently ended for which financial statements are available) to be greater than 4.50 to 1.0 at any time on or before the last day of any fiscal the calendar quarter to annualized EBITDA during the period set forth below ending December 31, 2010, to be greater than 4.00 to 1.0 at any time on or before the ratio for such period set forth below. The foregoing ratio shall be annualized by multiplying EBITDA by four; June 30, 2007 - last day of the calendar quarter ending December 31, 2007 6.00:1.00 March 312011, 2008 - September 30, 2008 4.00:1.00 September 30, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 and at any time thereafter 2.00:1.00to be greater than 3.50 to 1.00."

Appears in 1 contract

Samples: Combined Credit Agreements (Forest Oil Corp)

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