Consolidated Interest Coverage. Ratio shall mean, for any period, the ratio of Consolidated EBITDA to cash payments for interest expense in such period (including the interest component of capitalized leases).
Consolidated Interest Coverage. Ratio shall mean, as of any date for which it is being determined, the ratio of Consolidated EBITDA for the immediately preceding fiscal quarter (including any fiscal quarter ending on such date) to Consolidated Net Interest Expense for the immediately preceding fiscal quarter (including any fiscal quarter ending on such date).
Consolidated Interest Coverage. Ratio shall mean, as of any date for which it is being determined, the ratio of Consolidated EBIT for the immediately preceding four (4) fiscal quarters (including any fiscal quarter ending on such date) to Consolidated Interest Expense for the immediately preceding four (4) fiscal quarters (including any fiscal quarter ending on such date). Consolidated Interest Expense shall mean, for the period in question, without duplication, all gross interest expense of Borrower and its Subsidiaries (including, without limitation, all commissions, discounts and/or related amortization and other fees and charges owed by Borrower and its Subsidiaries with respect to letters of credit and bankers' acceptance financing, the net costs associated with interest swap obligations of Borrower and its Subsidiaries, capitalized interest expense, the interest portion of Capitalized Lease Obligations and the interest portion of any deferred payment obligation) during such period, all determined on a consolidated basis as determined in accordance with GAAP.
Examples of Consolidated Interest Coverage in a sentence
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Company to be less than 3.00 to 1.00.
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00:1.00.
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.0 to 1.0.
The Borrower will not permit the Consolidated Interest Coverage Ratio to be less than 2.50 to 1 as of the last day of any fiscal quarter of the Borrower.
More Definitions of Consolidated Interest Coverage
Consolidated Interest Coverage. Ratio shall mean, as of any date for which it is being determined, the ratio of Consolidated EBIT to Consolidated Interest Expense. Consolidated Interest Expense shall mean, for the period in question, without duplication, all gross interest expense of Borrower and its Subsidiaries (including, without limitation, all commissions, discounts and/or related amortization and other fees and charges owed by Borrower and its Subsidiaries with respect to letters of credit and bankers' acceptance financing, the net costs associated with interest swap obligations of Borrower and its Subsidiaries, capitalized interest expense, the interest portion of Capitalized Lease Obligations and the interest portion of any deferred payment obligation) during such period, all determined on a consolidated basis as determined in accordance with GAAP.
Consolidated Interest Coverage. Ratio shall mean the ratio of (i) EBITDA for such Person and its Consolidated Subsidiaries on a consolidated basis for the fiscal quarter ending on such date to (ii) cash interest payments made for such Person and its Consolidated Subsidiaries on a consolidated basis for such fiscal quarter. Consolidated Net Income shall mean with respect to such Person and its Consolidated Subsidiaries, for any period, the aggregate of the net income (or loss) of such Person and its Consolidated Subsidiaries after allowances for taxes for such period, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from such net income (to the extent otherwise included therein) the following: (i) the net income of any other entity in which such Person or any Consolidated Subsidiary has an interest (which interest does not cause the net income of such other entity to be consolidated with the net income of such Person and its Consolidated Subsidiaries in accordance with GAAP), except to the extent of the amount of dividends or distributions actually paid in such period by such other entity to such Person or to a Consolidated Subsidiary, as the case may be; (ii) the net income (but not loss) of any Consolidated Subsidiary to the extent that the declaration or payment of dividends or similar distributions or transfers or loans by that Consolidated Subsidiary is not at the time permitted by operation of the terms of its charter or any agreement, instrument or Governmental Requirement applicable to such Consolidated Subsidiary, or is otherwise restricted or prohibited in each case determined in accordance with GAAP; (iii) the net income (or loss) of any entity acquired in a pooling-of-interests transaction for any period prior to the date of such transaction; (iv) any gains or losses attributable to discontinued operations, in an aggregate amount not to exceed $5,000,000 or to Property sales not in the ordinary course of business, and (v) the cumulative effect of a change in accounting principles and any gains or losses attributable to writeups or write downs of assets. Consolidated Subsidiaries shall mean each Subsidiary of a Person (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of such Person in accordance with GAAP; provided, however, that the Consolidated Subsidiaries of Borrower shall not include the Unrestricted Entities, ex...
Consolidated Interest Coverage. Ratio shall mean, for any period, the ratio of Consolidated EBITDA to Consolidated Interest Expense for such period. Consolidated Interest Expense shall mean, for any period, total cash interest expense (including the interest component of capitalized leases) of the Borrower and its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP. For purposes of the foregoing, gross interest expense shall be determined after giving effect to any net payments received or paid by the Borrower or its Subsidiaries under interest rate protection agreements, the effect of which is required to be reflected in the Borrower’s income statement under “Interest Expense”.
Consolidated Interest Coverage. Ratio shall mean, for the period in question, the ratio of (a) the sum of (i) Consolidated EBITDA during such period minus (ii) the aggregate amount of all Capital Expenditures made by, and the aggregate amount of Capitalized Lease Obligations incurred by, the Company and its Subsidiaries during such period to (b) Consolidated Interest Expense during such period, all determined on a consolidated basis and in accordance with GAAP. Consolidated Interest Expense shall mean, for the period in question, without duplication, all gross interest expense of the Company and its Subsidiaries (including, without limitation, all commissions, discounts and/or related amortization and other fees and charges owed by the Company and its Subsidiaries with respect to letters of credit, the net costs associated with interest swap obligations of the Company and its Subsidiaries, capitalized interest expense, the interest portion of Capitalized Lease Obligations and the interest portion of any deferred payment obligation) during such period, all determined on a consolidated basis and in accordance with GAAP.
Consolidated Interest Coverage. Ratio shall mean, as of the end of any fiscal quarter, the ratio of (a) Consolidated EBITDA for the four (4) fiscal quarters then ending to (b) Consolidated Interest Charges for the four (4) fiscal quarters then ending. Consolidated Leverage Ratio shall mean, as of the end of any fiscal quarter, the ratio of (a) Consolidated Funded Indebtedness on such date to (b) Consolidated EBITDA for the four (4) fiscal quarters then ending. Consolidated Net Income shall mean the net income (or loss) of the Company and its Subsidiaries on a consolidated basis for the most recently completed four (4) fiscal quarters of the Company as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication,
Consolidated Interest Coverage. RATIO shall mean, for any period, the ratio of (x) Consolidated EBITDA to (y) Consolidated Interest Expense, in each case for such period. CONSOLIDATED INTEREST EXPENSE shall mean, for any period, the aggregate consolidated interest accrued and/or paid by Holdings, the Borrower and their respective Subsidiaries in respect of Indebtedness determined on a consolidated basis in accordance with GAAP during such period, including, without limitation, amortization of original issue discount on any Indebtedness and of all fees payable in connection with the incurrence of such Indebtedness (to the extent included in interest expense), the interest portion of any deferred payment obligation, the interest component of any Capitalized Lease Obligations, net cash costs under any Interest Rate Agreements, all capitalized interest and interest paid by Holdings, the Borrower or their respective Subsidiaries on debt guaranteed by Holdings, the Borrower or their respective Subsidiaries; PROVIDED that Consolidated Interest Expense shall not include amortization of debt issuance costs. CONSOLIDATED LEVERAGE RATIO shall mean, at any time, the ratio of Consolidated Debt at such time to Consolidated EBITDA for the most recently ended Test Period; PROVIDED that for the purposes of calculating the Consolidated Leverage Ratio only, Consolidated EBITDA for any Test Period shall be increased (or decreased) on a PRO FORMA basis by Consolidated EBITDA attributable to each Significant Acquisition (or each Significant Divestiture), in each case consummated during such Test Period in accordance with the terms hereof, so long as (in the case of any such increase) the amount of any such increase is the actual Consolidated EBITDA earned by the Person (or directly attributable to the business, product line or assets) acquired pursuant to the respective Significant Acquisition and such actual Consolidated EBITDA is set forth in reasonable detail and with reasonable supporting documentation in a written certificate that is executed by the chief executive officer, chief financial officer, treasurer or controller of the Borrower and is delivered, and is satisfactory, to the Administrative Agent.
Consolidated Interest Coverage. RATIO shall have the meaning given to it in Clause 17.1 (Financial Covenants).