Senior Debt to EBITDA Ratio. The Borrowers, on a Modified Consolidated Basis, will ensure that the Senior Debt to EBITDA Ratio determined as at the last day of each Fiscal Quarter is not greater than 1.50:1 in respect of the immediately preceding Four Quarter Period.
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Samples: Credit Agreement (Just Energy Group Inc.), Credit Agreement (Just Energy Group Inc.)
Senior Debt to EBITDA Ratio. The BorrowersBorrower, on a Modified Consolidated Basis, will ensure that the Senior Debt to EBITDA Ratio determined as at the last day of each Fiscal Quarter is not greater than 1.50:1 1.65:1 in respect of the immediately preceding Four Quarter Period.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Just Energy Group Inc.)
Senior Debt to EBITDA Ratio. The Borrowers, on a Modified Consolidated Basis, will ensure that the Senior Debt to EBITDA Ratio determined as at the last day of each Fiscal Quarter is not greater than 1.50:1 in respect of the immediately preceding Four Quarter Period. For the purposes of calculating the Senior Debt to EBITDA Ratio for the Fiscal Quarters ending December 31, 2014, March 31, 2015, June 30, 2015 and September 30, 2015, the Borrowers shall be permitted to include as net income the amount received in connection with the NEC Disposition, being $58,983,000.
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