Senior Funded Debt Ratio. As of the end of each 12-month period ending on the end of each fiscal quarter of the Parent, a Senior Funded Debt Ratio of not greater than 1.50 to 1.
Senior Funded Debt Ratio. The Company shall maintain as of the last day of each of its fiscal quarters a Senior Funded Debt Ratio of not greater than 3.50 to 1.
Senior Funded Debt Ratio. Section 6.17 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
Senior Funded Debt Ratio. Permit the Senior Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than 2.50 to 1.00.
Senior Funded Debt Ratio. Permit the Borrower’s Senior Funded Debt Ratio to be greater than (i) 2.50 to 1.00 from the date hereof until the fiscal quarter ending October 31, 2014, (ii) 2.25 to 1.00 from the fiscal quarter ending January 31, 2015 until the fiscal quarter ending January 31, 2016, and (iii) 2.00 to 1.00 thereafter. “Senior Funded Debt Ratio” means, at any date of determination, with respect to the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) indebtedness for (i) borrowed money plus (ii) the deferred purchase price of property not purchased on ordinary trade terms plus (iii) capitalized leases and for other liabilities evidenced by promissory notes or other instruments, but not including any indebtedness that has been subordinated to the indebtedness evidenced by Notes pursuant to a writing that has been accepted by the Bank to (b) the sum on such date of (i) EBITDA for the most recently completed Test Period prior to such date plus (ii) non-cash stock compensation (without duplication) plus (iii) deemed EBITDA of Flip Flop Shops Franchise Company, LLC of $1,000,000 for the test period ending October 31, 2015, $750,000 for the test period ending January 31, 2016, $500,000 for the test period ending April 30, 2016, and $250,000 for the test period ending July 31, 2016.”
Senior Funded Debt Ratio. Borrower shall maintain, on a consolidated basis, a Senior Funded Debt Ratio of not more than (a) 4.00 to 1 as at the fiscal quarters ending April 30, 2000 and July 31, 2000; (b) 3.75 to 1 as at the fiscal quarters ending October 31, 2000; (c) 3.50 to 1 as at the fiscal quarters ending January 31, 2001; (d) 3.25 to 1 as at the fiscal quarters ending April 30, 2001 and July 31, 2001; and (e) 3.00 to 1 as at the fiscal quarters ending October 31, 2001 and thereafter. As used herein, "Senior Funded Debt Ratio" shall mean, as of the end of any fiscal quarter, the quotient obtained by dividing (A) Senior Funded Debt as of the end of such fiscal quarter by (B) the EBITDA for such quarter and the three immediately preceding fiscal quarters, PLUS, in the event that Borrower has acquired any Subsidiaries during such fiscal quarter or during the immediately preceding three fiscal quarters, the EBITDA of such Subsidiaries from the first day of the immediately preceding three fiscal quarters through the date of acquisition of each Subsidiary. "EBITDA" shall mean pre-tax net income (or pre-tax net loss), PLUS, the sum of (i) interest expense, (ii) depreciation expense, (iii) depletion expense, and (iv) amortization expense.
Senior Funded Debt Ratio. The Company shall maintain, on a consolidated basis, a Senior Funded Debt Ratio of not more than (a) 5.78 to 1 as at the fiscal quarter ending Axxxx 00, 0000, (x) 17.33 to 1 as at the fiscal quarter ending July 31, 2002, (c) 28.60 to 1 as at the fiscal quarter ending October 31, 2002, (d) 18.15 to 1 as at the fiscal quarter ending January 31, 2003, (e) 6.00 to 1 as at the fiscal quarter ending April 30, 2003, (f) 4.29 to 1 as at the fiscal quarter ending July 31, 2003, and (g) 3.50 to 1 as at the fiscal quarters ending October 31, 2003 thereafter.
Senior Funded Debt Ratio. Permit the Senior Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than the ratio set forth below opposite the period during which such Fiscal Quarter ends: Period Ratio ------ ----- Closing Date through December 31, 1998 3.35 to 1.00 January 1, 1999 through June 30, 1999 3.10 to 1.00 July 1, 1999 through December 31, 1999 2.85 to 1.00 January 1, 2000 through June 30, 2000 2.60 to 1.00 July 1, 2000 and thereafter 2.50 to 1.00
Senior Funded Debt Ratio. Borrower shall, at all times, maintain, on a consolidated basis, a ratio of (i) Senior Funded Debt to (ii) trailing-twelve month EBITDA of no greater than 2.0 to 1. This ratio shall be tested quarterly beginning with the quarter ending June 30, 2009. Notwithstanding the foregoing, for the quarter ended June 30, 2009, the denominator of the Senior Funded Debt Ratio shall be equal to the product of (i) trailing three (3) month EBITDA for the period ended June 30, 2009 and (ii) four; and for the quarter ended September 30, 2009, the denominator of the Senior Funded Debt Ratio shall be equal to the product of (i) the trailing six (6) month EBIDTA for the period ended September 30, 2009 and (ii) two; and, for the quarter ended December 31, 2009, the denominator of the Senior Funded Debt Ratio shall be equal to (a) the product of (i) the trailing nine (9) month EBITDA for the period ended December 31, 2009 and (ii) four (4) and (b) divided by three (3).
Senior Funded Debt Ratio. Permit the Borrower’s Senior Funded Debt Ratio to be greater than 2.00 to 1.00. “Senior Funded Debt Ratio” means, at any date of determination, with respect to the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) consolidated total debt (less debt that is subordinated to the Liabilities) on such day to (b) EBITDA for the most recently completed Test Period prior to such date.
