Ratio of Total Net Debt to EBITDAX Sample Clauses

Ratio of Total Net Debt to EBITDAX. Beginning with the Fiscal Quarter ending September 30, 2022, the Borrower will not, as of the last day of any Fiscal Quarter, permit its ratio of Total Net Debt as of such last day to EBITDAX for the period of four Fiscal Quarters then ending on such day to exceed 3.25 to 1.00.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Ratio of Total Net Debt to EBITDAX. The Parent, OP LLC and the Borrower will not, as of the last day of any Test Period (commencing with the Test Period ending March 31, 2021), permit the ratio of Total Net Debt as of such date to EBITDAX (or, in the case of the Test Periods ending on March 31, 2021, June 30, 2021 and September 30, 2021, Annualized EBITDAX), in each case for the Parent and the Consolidated Restricted Subsidiaries for the Test Period ending on such date (the “Leverage Ratio”), to be greater than 3.00 to 1.00.
Sample 1Sample 2See All (4)
Ratio of Total Net Debt to EBITDAX. The Borrower will not, as of the last day of any Fiscal Quarter commencing with the Fiscal Quarter ending June 30, 2019, permit its ratio of Total Net Debt as of such last day to EBITDAX for the period of four Fiscal Quarters then ending on such day to exceed 3.75 to 1.00; provided that for purposes of this Section 9.01(a), Section 9.02(i), Section 9.04(a) and Section 9.04(b), EBITDAX for the four Fiscal Quarters ending (i) June 30, 2019, shall equal EBITDAX for the Fiscal Quarter then ending multiplied by 4, (ii) September 30, 2019, shall equal EBITDAX for the two Fiscal Quarters then ending multiplied by 2 and (iii) December 31, 2019, shall equal EBITDAX for the three Fiscal Quarters then ending multiplied by 4/3.”
Sample 1
Ratio of Total Net Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter (commencing with the fiscal quarter ending December 31, 2019) its ratio of Total Net Debt as of the last day of such fiscal quarter to EBITDAX for the four fiscal quarters ending on the last day of such fiscal quarter, to be greater than 4.0 to 1.0; provided that the Borrower shall not permit, (i) on any date on or after May 1, 2020, on which the board of directors of the Borrower declares, approves or agrees to pay or make, directly or indirectly, any Restricted Payment pursuant to clause (c) of Section 6.8, its ratio of (x) Total Net Debt as of the date of such declaration, approval or agreement after giving pro forma effect to such Restricted Payment to (y) EBITDAX as of the last day of the most recent period of four consecutive fiscal quarters for which financial statements have been provided in accordance with clause (a) or (b) of Section 5.1, to be greater than 2.25 to 1.0 (notwithstanding any other ratio requirement in this Agreement), (ii) on any date during the period from February 17, 2021 until December 31, 2021, on which the board of directors of the Borrower declares, approves or agrees to pay or make, directly or indirectly, any Restricted Payment pursuant to clause (d) of Section 6.8, the amount of unused borrowing capacity that could be accessed under this Agreement by the Borrower on such date after giving pro forma effect to such Restricted Payment to be less than 25% of the amount of the Loan Limit in effect at such time, or (iii) on any date on or after January 1, 2022, on which the board of directors of the Borrower declares, approves or agrees to pay or make, directly or indirectly, any Restricted Payment pursuant to clause (d) of Section 6.8, (A) its ratio of (x) Total Net Debt as of the date of such declaration, approval or agreement after giving pro forma effect to such Restricted Payment to (y) EBITDAX as of the last day of the most recent period of four consecutive fiscal quarters for which financial statements have been provided in accordance with clause (a) or (b) of Section 5.1, to be greater than 3.0 to 1.0 (notwithstanding any other ratio requirement in this Agreement) or (B) the amount of unused borrowing capacity that could be accessed under this Agreement by the Borrower on such date after giving pro forma effect to such Restricted Payment to be less than 20% of the amount of the Loan Limit in effect at such time.
Sample 1
Ratio of Total Net Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter (commencing with the fiscal quarter ending December 31, 2018) its ratio of Total Net Debt as of the last day of such fiscal quarter to EBITDAX for the four fiscal quarters ending on the last day of such fiscal quarter, to be greater than 4.0 to 1.0. For the purposes of calculating the Total Net Debt to EBITDAX Ratio for the fiscal quarters ending on December 31, 2018, March 31, 2019 and June 30, 2019, EBITDAX shall be deemed to equal (i) in the case of the fiscal quarter ending on December 31, 2018, EBITDAX for such fiscal quarter multiplied by four (4), (ii) in the case of the fiscal quarter ending on March 31, 2019, the aggregate EBITDAX for such the fiscal quarters ended December 31, 2018 and March 31, 2019 multiplied by two (2) and (iii) in the case of the fiscal quarter ending on June 30, 2019, the aggregate EBITDAX for the fiscal quarters ended December 31, 2018, March 31, 2019 and June 30, 2019 multiplied by four-thirds (4/3).
Sample 1
Ratio of Total Net Debt to EBITDAX. Each Parent and the Borrower will not, at any time, permit the ratio of Total Net Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 4.0 to 1.0.
Sample 1

Related to Ratio of Total Net Debt to EBITDAX

  • Ratio of Total Debt to EBITDAX The Borrower will not, at any time, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

  • Total Debt to EBITDA Ratio The Total Debt to EBITDA Ratio will not exceed 4.0 to 1.0 at the end of any fiscal quarter.

  • Funded Debt to EBITDA Ratio A. Funded Debt

  • Funded Debt to EBITDA Section 10.2 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Debt to EBITDA Ratio Maintain, as of the end of each fiscal quarter, a ratio of (i) Debt, excluding Debt in respect of Hedge Agreements, as of such date to (ii) Consolidated EBITDA of the Company and its Consolidated Subsidiaries for the period of four fiscal quarters most recently ended, of not greater than 4.0 to 1.0.

  • Total Leverage Ratio The Company will not permit the Leverage Ratio as of the last day of any fiscal quarter ending during any period set forth below to exceed the ratio set forth opposite such period: Period Ratio October 1, 2002 through and including December 31, 2002 6.85 to 1.00 January 1, 2003 through and including March 31, 2003 7.50 to 1.00 April 1, 2003 through and including September 30, 2003 7.75 to 1.00 October 1, 2003 through and including December 31, 2003 7.25 to 1.00 January 1, 2004 through and including December 31, 2004 6.50 to 1.00 January 1, 2005 and thereafter 4.00 to 1.00

  • Total Net Leverage Ratio The Borrower will not permit the Total Net Leverage Ratio as of the end of any Fiscal Quarter to exceed 3.50 to 1.00.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the end of any fiscal quarter ending on or after September 30, 2006, to be greater than the ratio set forth below opposite the fiscal quarter end: Fiscal Quarter Ending Ratio on or prior to December 31, 2008 6.50 to 1.0 thereafter but on or prior to December 31, 2010 6.00 to 1.0 after December 31, 2010 5.50 to 1.0

  • 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.

  • Consolidated Total Net Leverage Ratio Permit the Consolidated Total Net Leverage Ratio on the last day of any fiscal quarter occurring during any period set forth below, to be greater than the ratio set forth below opposite such period: Period Maximum Consolidated Total Net Leverage Ratio Closing Date through and including September 30, 2014 7.25:1.00 December 31, 2014 through and including September 30, 2015 6.75:1.00 December 31, 2015 and thereafter 6.50:1.00

Time is Money Join Law Insider Premium to draft better contracts faster.