Senior Funded Indebtedness to EBITDA. Borrower shall at all times maintain a maximum Senior Funded Indebtedness to EBITDA ratio of not more than 2:00:1.00. Borrower’s Senior Funded Indebtedness to EBITDA shall be measured by Lender on a quarterly basis throughout the term of the Loan, on a rolling four quarter average, commencing June 30, 2012. In the event the Senior Funded Indebtedness to EBITDA ratio is out of compliance during any test period, Borrower shall be required to make an immediate principal reduction payment in an amount sufficient to bring the Loan into compliance with this financial covenant.
Senior Funded Indebtedness to EBITDA. As of the end of each fiscal quarter of Borrowers for the four quarter period then ending, Borrowers shall not permit the Senior Funded Indebtedness to EBITDA Ratio to be greater than the maximum amount set forth below for the corresponding period set forth below: Four Quarters Ended In: Maximum Ratio March 2012 3.25 to 1.00 June 2012 2.75 to 1.00 September 2012 2.25 to 1.00 December 2012 2.00 to 1.00 March 2013 2.00 to 1.00 June 2013 2.00 to 1.00 September 2013 2.00 to 1.00 December 2013 and the end of each quarter ended thereafter 1.50 to 1.00
Senior Funded Indebtedness to EBITDA. As of the end of each fiscal quarter of Borrowers for the four fiscal quarter period then ending, Borrowers shall not permit the Senior Funded Indebtedness to EBITDA Ratio to be greater than the maximum amount set forth below for the corresponding period set forth below: Four Fiscal Quarters Ended In: Maximum Ratio March 2013 2.75 to 1.00 June 2013 3.00 to 1.00 September 2013 2.75 to 1.00 December 2013 2.25 to 1.00 March 2014 and each fiscal quarter thereafter 2.00 to 1.00 provided; however, notwithstanding anything to the contrary contained herein, for purposes of calculating the Senior Funded Indebtedness to EBITDA Ratio above, and solely for the four fiscal quarter period ending in each of September 2012, December 2012 and March 2013, EBITDA (regardless of how such term is defined or calculated pursuant to its definition set forth in Section 1.1 hereof) for such periods shall be deemed to be as follows: Four Fiscal Quarters Ended In: EBITDA September 2012 $ 2,800,000 December 2012 $ 2,300,000 March 2013 $ 1,700,000 For purposes of calculating the Senior Funded Indebtedness to EBITDA Ratio for the four fiscal quarter period ending in June 2013 and for the four fiscal quarter period ending in each fiscal quarter thereafter, EBITDA shall be determined using the financial statements required to be delivered to Lender pursuant to Section 8.8 hereof.
(h) by inserting the following as Section 10.3:
Senior Funded Indebtedness to EBITDA. As of the end of each fiscal quarter of Borrowers for the four quarter period then ending, Borrowers shall not permit the Senior Funded Indebtedness to EBITDA Ratio to be greater than the maximum amount set forth below for the corresponding period set forth below:
Senior Funded Indebtedness to EBITDA. As of the end of each fiscal quarter of Borrowers for the four quarter period then ending, Borrowers shall not permit the ratio of (a) consolidated Senior Funded Indebtedness to (b) consolidated EBITDA, to be more than 2.50 to 1.00. As used in this Section 10.2 only, the term “EBITDA” shall mean, for any period of Borrowers, the net income of Borrowers, determined in accordance with GAAP consistently applied, plus (i) Interest Expense for such period, plus (ii) federal and state income taxes of Borrowers for such period, plus (iii) all depreciation and amortization of capitalized costs for such period.
Senior Funded Indebtedness to EBITDA. (a) Permit, as of the end of the first fiscal quarter of 1997, the ratio of (i) Senior Funded Indebtedness on the last day of such period, to (ii) four (4) times EBITDA for such quarter to be greater than 2.5:1.0.
(b) Permit, as of the end of the second fiscal quarter of 1997, the ratio of (i) Senior Funded Indebtedness on the last day of the six months ending June 30, 1997, to (ii) two (2) times EBITDA for the six months ending June 30, 1997, to be greater than 2.5:1.0.
(c) Permit, as of the end of the third fiscal quarter of 1997, the ratio of (i) Senior Funded Indebtedness on the last day of the nine months ending September 30, 1997, to (ii) one and one-third (1 1/3) times EBITDA for the nine months ending September 30, 1997, to be greater than 2.5:1.0.
(d) Permit, as of the end of any fiscal quarter ending in the period set forth below, the ratio of Senior Funded Indebtedness on the last day of any such fiscal quarter to EBITDA as of such day for the immediately preceding four fiscal quarters to be greater than the ratio set forth below: Fiscal Quarter Ending --------------------- October 1, 1997 through December 31,1998 2.5:1.0
Senior Funded Indebtedness to EBITDA. The ratio of Borrower's Senior Funded Indebtedness to EBITDA shall not exceed 3.00 to 1.00 as of the last day of any calendar quarter, as calculated for the 12 month period then ended.
Senior Funded Indebtedness to EBITDA. (Section ). -----------------------------------------------
A. Senior Funded Indebtedness $_____________
Senior Funded Indebtedness to EBITDA. Permit the ratio of Senior ------------------------------------ Funded Indebtedness on the last day of any fiscal quarter to EBITDA as of such day for the immediately preceding four fiscal quarters to be greater than 2.5:1.0.
Senior Funded Indebtedness to EBITDA. Permit the ratio of Senior Funded Indebtedness on the last day of any fiscal quarter to EBITDA as of such day for the immediately preceding four fiscal quarters to be greater than 2.5:1.0.
