Senior Funded Indebtedness to EBITDA Ratio. The Company will not permit the Senior Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter to be greater than 2.50 to 1.00 as of the fiscal quarter ending June 30, 2018 and on each fiscal quarter ending thereafter.
Senior Funded Indebtedness to EBITDA Ratio. Loan Parties will not permit the Senior Funded Indebtedness to EBITDA Ratio to exceed the ratio set opposite the following Test Periods ending on any of the following dates or occurring during any of the following periods:
1.9 Section 5.12 of the Credit Agreement is hereby amended in its entirety by substituting the following in its place:
Senior Funded Indebtedness to EBITDA Ratio. Commencing with respect to the quarter beginning on June 30, 2013 and ending on September 29, 2013, Borrower shall be required to maintain a Senior Funded Indebtedness to EBITDA Ratio which is less than or equal to 4.25 to 1.00. Commencing with respect to the quarter beginning September 30, 2013 and ending on March 30, 2014, Borrower shall be required to maintain a Senior Funded Indebtedness to EBITDA Ratio which is less than or equal to 4.00 to 1.00. Commencing with respect to the quarter beginning on March 31, 2014, and ending on December 30, 2014, Borrower shall be required to maintain a Senior Funded Indebtedness to EBITDA Ratio which is less than or equal to 3.50 to 1.00. Commencing with respect to the quarter beginning on December 31, 2014, and ending on December 31, 2049, Borrower shall be required to maintain a Senior Funded Indebtedness to EBITDA Ratio which is less than or equal to 3.25 to 1.00. The Senior Funded Indebtedness to EBITDA Ratio shall be calculated as of the end of each calendar quarter on a rolling four (4) quarter basis, and shall be measured based strictly on Borrower’s domestic operations.
Senior Funded Indebtedness to EBITDA Ratio. Permit the Senior Funded Indebtedness to EBITDA Ratio as of the end of any Fiscal Quarter to be greater than 2.50 to 1.00.
Senior Funded Indebtedness to EBITDA Ratio. The Borrower will maintain, tested as of the last day of each of the Borrower's fiscal quarters for the four (4) quarter period ending on that date (on a rolling four quarter basis), a ratio of Senior Funded Indebtedness to EBITDA of not greater than 2.50 to 1.0.
Senior Funded Indebtedness to EBITDA Ratio. The ratio of 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 December 31, 2012. Borrower shall from time to time maintain the following maximum Senior Funded Indebtedness to EBITDA ratios (the “Senior Funded Indebtedness to EBITDA Ratio”): (A) for the December 31, 2012 quarterly test through the June 30, 2013 quarterly test, a maximum Senior Funded Indebtedness to EBITDA Ratio of not more than 4.25:1.00; (B) September 30, 2013 through the December 31, 2013 quarterly test, a maximum Senior Funded Indebtedness to EBITDA Ratio of not more than 4.00:1.00; (C) for the March 31, 2014 quarterly test through the September 30, 2014 quarterly test, a maximum Senior Funded Indebtedness to EBITDA Ratio of not more than 3.50:1.00, and (D) commencing with the December 31, 2014 quarterly test and continuing quarterly through the maturity of the Loan, a maximum Senior Funded Indebtedness to EBITDA Ratio of not more than 3.25:1.00. In the event the Senior Funded Indebtedness to EBITDA Ratio is determined by Lender to be 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 Ratio. The Company will not permit the Senior Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter to be greater than (i) 4.00 to 1.00 as of the fiscal quarters ending June 30, 2017 and September 30, 2017, (ii) 3.75 to 1.00 as of the fiscal quarters ending December 31, 2017 and Xxxxx 00, 0000, (xxx) 3.50 to 1.00 as of the fiscal quarters ending June 30, 2018 and September 30, 2018, (iv) 3.25 to 1.00 as of the fiscal quarters ending December 31, 2018 and March 31, 2019, and (v) 3.00 to 1.00 as of the fiscal quarter ending June 30, 2019 and on each fiscal quarter ending thereafter.
Senior Funded Indebtedness to EBITDA Ratio. For each Reference Period identified below, Borrowers shall maintain a Senior Funded Indebtedness to EBITDA Ratio no greater than the ratio indicated below:
Senior Funded Indebtedness to EBITDA Ratio. As of the end of each Fiscal Quarter of Companies for the four Fiscal Quarter period then ending, the Companies 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 June 2013 3.30 to 1.00 September 2013 3.00 to 1.00 December 2013 2.50 to 1.00 March 2014 and each 2.20 to 1.00 Fiscal Quarter thereafter 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 Sections 6.1(a) and 6.1(c) hereof.
Senior Funded Indebtedness to EBITDA Ratio. Holdings shall not permit the Senior Funded Indebtedness to EBITDA Ratio as of the last day of any fiscal quarter of Holdings to be greater than 2.50 to 1.0.
