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 4.05 to 1.00 on March 31, 2003 through and including June 15, 2003, based upon the financial statements of the Companies for the most recently completed four (4) fiscal quarters.
Appears in 2 contracts
Samples: Credit Agreement (Oglebay Norton Co /Ohio/), Loan Agreement (Oglebay Norton Co /Ohio/)
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 4.05 5.25 to 1.00 on March 31June 16, 2003 through and including June 15, 2003the Waiver Expiration Date, based upon the financial statements of the Companies for the most recently completed four (4) fiscal quarters.
Appears in 2 contracts
Samples: Loan Agreement (Oglebay Norton Co /Ohio/), Credit Agreement (Oglebay Norton Co /Ohio/)