Senior Secured Debt Ratio. The Companies shall not suffer or permit at any time the ratio of: (x) Total Senior Funded Indebtedness to the extent such Indebtedness is a secured obligation (but, excluding for purposes hereof, the Indebtedness evidenced by the 2002 Senior Secured Fund Notes) to (y) Consolidated Pro-Forma EBITDA to be greater than 5.25 to 1.00 on June 16, 2003 through and including the Waiver Expiration Date, based upon the financial statements of the Companies for the most recently completed four (4) fiscal quarters.
Senior Secured Debt Ratio. The Borrower will not permit the Senior Secured Debt Ratio, determined as of the end of each of its fiscal quarters, commencing with the fiscal quarter ending March 31, 2009, to be greater than the applicable ratio set forth below for such fiscal quarter: Fiscal Quarter Ending Debt Ratio March 31, 2009 6.50:1.00 June 30, 2009 September 30, 2009 December 31, 2009 6.00:1.00 March 31, 2010 June 30, 2010 September 30, 2010 December 31, 2010 5.50:1.00 March 31, 2011 June 30, 2011 September 30, 2011 December 31, 2011 5.00:1.00 March 31, 2012 June 30, 2012 September 30, 2012 December 31, 2012 and thereafter 4.50:1.00
Senior Secured Debt Ratio. The Borrower will not, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2012, permit its ratio of (i) Senior Secured Debt as of such day to (ii) EBITDAX for the period of four fiscal quarters then ending to be greater than 2.5 to 1.0.”.
2.3.2 Section 9.01 of the Canadian Credit Agreement is hereby amended to add the following Section 9.01(c), which reads:
Senior Secured Debt Ratio. The Parent will not, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2013, permit its ratio of (i) Senior Secured Debt as of such day to (ii) EBITDAX for the period of four fiscal quarters then ending to be greater than 2.0 to 1.0.”.
Senior Secured Debt Ratio. The Companies shall not suffer or permit at any time the ratio of: (x) Total Senior Funded Indebtedness to the extent such Indebtedness is a secured obligation (but excluding for purposes hereof, the Indebtedness evidenced by the 2002 Senior Secured Fund Notes) to (y) Consolidated Pro-Forma EBITDA to be greater than: (i) 4.60 to 1.00 on July 1, 2002 through September 30, 2002, (ii) 3.55 to 1.00 on October 1, 2002 through December 31, 2002, (iii) 3.75 to 1.00 on January 1, 2003 through March 31, 2003, (iv) 3.80 to 1.00 on April 1, 2003 through June 30, 2003, (v) 3.55 to 1.00 on July 1, 2003 through September 30, 2003, (vi) 3.25 to 1.00 on October 1, 2003 through December 31, 2003, (vii) 3.55 to 1.00 on January 1, 2004 through June 30, 2004, and (viii) 3.25 to 1.00 on July 1, 2004 and thereafter, in each case, based upon the financial statements of the Companies for the most recently completed four (4) fiscal quarters.
Senior Secured Debt Ratio. The Borrower shall not permit the Senior Secured Debt Ratio to be greater than (a) 4.25 to 1 at the end of the third Fiscal Quarter of Fiscal Year 2002, (b) 4.00 to 1 at the end of either of the fourth Fiscal Quarter of Fiscal Year 2002 or the first Fiscal Quarter of Fiscal Year 2003, (c) 3.75 to 1 at the end of either of the second or third Fiscal Quarter of Fiscal Year 2003, (d) 3.50 to 1 at the end of the fourth Fiscal Quarter of Fiscal Year 2003 through and including the third Fiscal Quarter of Fiscal Year 2004, and (e) 3.00 to 1 at the end of any Fiscal Quarter thereafter.
Senior Secured Debt Ratio. The Companies shall not suffer or permit at any time the ratio of: (x) Total Senior Funded Indebtedness to the extent such Indebtedness is a secured obligation (but, excluding for purposes hereof, the Indebtedness evidenced by the 2002 Senior Secured Fund Notes) to (y) Consolidated Pro-Forma EBITDA to be greater than: (i) 5.70 to 1.00 at the end of any fiscal quarter ending during the period of July 1, 2003 through September 30, 2003, (ii) 5.45 to 1.00 at the end of any fiscal quarter ending during the period of October 1, 2003 through December 31, 2003, (iii) 5.65 to 1.00 at the end of any fiscal quarter ending during the period of January 1, 2004 through March 31, 2004, (iv) 5.50 to 1.00 at the end of any fiscal quarter ending during the period of April 1, 2004 through June 30, 2004, (v) 4.95 to 1.00 at the end of any fiscal quarter ending during the period of July 1, 2004 through September 30, 2004, and (vi) 4.45 to 1.00 at the end of any fiscal quarter ending during the period of October 1, 2004 and thereafter, in each case, based upon the financial statements of the Companies for the most recently completed four (4) fiscal quarters.
Senior Secured Debt Ratio. ArvinMeritor permits its Senior Secured Debt Ratio, calculated on a consolidated basis for ArvinMeritor and its Subsidiaries, to exceed (i) 2.50 to 1.00 on the last day of any fiscal quarter from September 15, 2008 through and including the fiscal quarter ending March 31, 2009 and (ii) 2.00 to 1.00 on the last day of any fiscal quarter thereafter.
Senior Secured Debt Ratio. Maintain a Senior Secured Debt Ratio of not more than 3.0 to 1.0, as of the end of each fiscal quarter of Holdings.
Senior Secured Debt Ratio. The Company shall not permit its Senior Secured Debt Ratio, calculated on a consolidated basis for the Company and its Subsidiaries, to exceed (i) 2.50 to 1.00 on the last day of any fiscal quarter from the Closing Date through and including the fiscal quarter ending March 31, 2009 and (ii) 2.00 to 1.00 on the last day of any fiscal quarter thereafter.
