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 The Borrower will not permit the Borrower’s ratio of Total Debt (i) 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 - Fiscal Quarter ending on or before December 31, 2007 6.00:1.00 2021, permit its ratio of Total Debt as of such last day to EBITDA for the period of four Fiscal Quarters then ending on such day to exceed 3.25 to 1.00 and (ii) as of the last day of any Fiscal Quarter commencing with the Fiscal Quarter ending March 31, 2008 - September 302022, 2008 4.00:1.00 September 30, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 and thereafter 2.00:1.00permit is ratio of Total Debt as of such last day to EBITDA for the period of four Fiscal Quarters then ending on such day to exceed 3.00 to 1.00.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.)

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Ratio of Total Debt to EBITDA. the The Borrower will not permit the Borrower’s ratio of Total Debt (i) as of the last day of any fiscal quarter Fiscal Quarter ending on or before September 30, 2020, permit its ratio of Total Debt as of such last day to annualized EBITDA during for the period set forth below of four Fiscal Quarters then ending on such day to be greater than exceed 4.00 to 1.00 and (ii) as of 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 any Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2007 6.00:1.00 March 312020, 2008 - September 30, 2008 4.00:1.00 September 30, 2008 - December 31, 2008 3.00:1.00 March 31, 2008 and thereafter 2.00:1.00permit is ratio of Total Debt as of such last day to EBITDA for the period of four Fiscal Quarters then ending on such day to exceed 3.50 to 1.00.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.)

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