Debt to Adjusted EBITDA Ratio means, with respect to any Person for any period, the ratio of (i) Consolidated Total Indebtedness as of the date of calculation (the “Calculation Date”) to (ii) Adjusted EBITDA of such Person for the four consecutive fiscal quarters immediately preceding such Calculation Date. In the event that such Person or any of its Restricted Subsidiaries Incurs or redeems any Indebtedness (other than in the case of revolving credit borrowings, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period) or issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Debt to Adjusted EBITDA Ratio is being calculated but prior to the Calculation Date, then the Debt to Adjusted EBITDA Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period.
Debt to Adjusted EBITDA Ratio means the ratio of Consolidated Debt (as of the end of any fiscal quarter of the Company) to Consolidated Adjusted EBITDA (for the Company’s most recently completed four fiscal quarters).
Debt to Adjusted EBITDA Ratio means, at any date, the ----------------------------- ratio of:
Examples of Debt to Adjusted EBITDA Ratio in a sentence
Such Incremental Interest shall begin to accrue on the first day of the fiscal quarter following the fiscal quarter in respect of which such Certificate was delivered, and shall continue to accrue until the Company has provided an Officer’s Certificate pursuant to Section 7.2(a) demonstrating that, as of the last day of the fiscal quarter in respect of which such Certificate is delivered, the Debt to Adjusted EBITDA Ratio is not more than 3.50 to 1.00.
The Company will not permit the Debt to Adjusted EBITDA Ratio, as of the end of any fiscal quarter, to be greater than 3.50 to 1.00; provided that, upon notice by the Obligors to the holders of Notes, as of the last day of each of the four consecutive fiscal quarters immediately following a Qualified Acquisition, such ratio may be greater than 3.50 to 1.00, but in no event greater than 4.00 to 1.00, if the Company pays the additional interest provided for in Section 1.2.
The Parent will as of the last day of each calendar quarter maintain the Total Funded Debt to Adjusted EBITDA Ratio at not more than 3.25 to 1.00.
If the Debt to Adjusted EBITDA Ratio at any time exceeds 3.50 to 1.00, as evidenced by an Officer’s Certificate delivered pursuant to Section 7.2(a), the interest rate payable on the Notes shall be increased by 0.50% per annum (the “Incremental Interest”).
If the Debt to Adjusted EBITDA Ratio at any time exceeds 3.50 to 1.00, as evidenced by an Officer’s Certificate delivered pursuant to Section 7.2(a), the interest rate payable on the Notes shall be increased by 0.75% (the “Incremental Interest”).
More Definitions of Debt to Adjusted EBITDA Ratio
Debt to Adjusted EBITDA Ratio means, with respect to the Borrower on any date, the ratio of (a) Consolidated Total Indebtedness as of such date (the “Calculation Date”) to (b) Adjusted EBITDA of the Borrower for the four consecutive fiscal quarters immediately preceding such Calculation Date. For purposes of making the computation referred to above and for other pro forma calculations required hereunder, Investments, acquisitions, dispositions, mergers or consolidations (as determined in accordance with GAAP) that have been made by the Borrower or any Subsidiary during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers or consolidations (including the Transactions) (and the change in any associated Consolidated Total Indebtedness obligations and the change in Adjusted EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person (that subsequently became a Subsidiary or was merged with or into the Borrower or any Subsidiary since the beginning of such period) shall have made any Investment, acquisition, disposition, merger or consolidation that would have required adjustment pursuant to this definition, then the Debt to Adjusted EBITDA Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger or consolidation had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to an Investment, acquisition, disposition, merger or consolidation (including the Transactions) and the amount of income or earnings relating thereto, the pro forma calculations shall be determined in good faith by a Financial Officer of the Borrower and shall comply with the requirements of Rule 11-02 of Regulation S-X promulgated by the Commission, except that such pro forma calculations may include operating expense reductions for such period resulting from the transaction which is being given pro forma effect that have been realized or for which substantially all the steps necessary for realization have been taken or are reasonably expected to be taken within six months following any such transaction, including, but not limited to, the execution or termination of any contracts, the reducti...
Debt to Adjusted EBITDA Ratio means, as of the end of any fiscal quarter, the ratio expressed as a percentage, equal to the ratio of Consolidated Indebtedness to Adjusted EBITDA calculated as of the end of such fiscal quarter in accordance with Section 5.15(b).
Debt to Adjusted EBITDA Ratio means, as of the last day of any fiscal quarter, the ratio of Consolidated Indebtedness outstanding as of such day to Adjusted EBITDA for the four (4) fiscal quarters then ended.
Debt to Adjusted EBITDA Ratio means, with respect to any Person for any period, the ratio of (i) Consolidated Total Indebtedness as of the date of calculation (the “Calculation Date”) to (ii) Adjusted EBITDA of such Person for the four consecutive fiscal quarters immediately preceding such Calculation
Debt to Adjusted EBITDA Ratio means the ratio of the Public Successor’s (x) Debt to (y) Adjusted EBITDA for the applicable Test Period where “Debt” means such Person’s and its consolidated Subsidiaries’ Indebtedness other than under clause (xi) thereof as of the end of the most recent Test Period, and where Debt and Adjusted EBITDA are both determined on a pro forma basis as if such Major Transaction, together with any Permitted Acquisition or Investment during or after the Test Period and before the date of determination had occurred at the beginning of the applicable Test Period, including any Indebtedness incurred in connection therewith.
Debt to Adjusted EBITDA Ratio means, as of any day, the ratio (expressed as a decimal) of: (a) Total Debt as of such day (or, if such day is not the last day of a Fiscal Quarter, then as of the last day of the Fiscal Quarter most recently ended before such day) less any cash (including any amounts invested in Permitted Investments) deposited in the Debt Service Reserve Accounts as of such day (or, if such day is not the last day of a Fiscal Quarter, then as of the last day of the Fiscal Quarter most recently ended before such day) reserved to pay principal obligations under the Loans less any Qualified ECA Cash (including any amounts invested in Permitted Investments) deposited in the Export Collateral Account as of such day (or, if such day is not the last day of a Fiscal Quarter, then as of the last day of the Fiscal Quarter most recently ended before such day) for payment of principal obligations under the Loans to (b) Adjusted EBITDA for the four (4) most recent Fiscal Quarters ending on such day (or, if such day is not the last day of a Fiscal Quarter, then ending on the last day of the Fiscal Quarter most recently ended before such day).
Debt to Adjusted EBITDA Ratio defined as the ratio of the sum of all Debt (less cash on hand) of the Obligated Group Members as of the date of determination to Adjusted EBITDA for the period of determination, and with “Adjusted EBITDA” defined as the net profit before tax for the period of determination plus the following (but only to the extent taken into account in determining such net profit before tax and without duplication): (i) non-cash equity compensation expense, (ii) non-cash amortization of intangibles and impairment charges, (iii) non-cash amortization or write-off of deferred debt issuance and other transaction expenses,(iv) interest expense of Parent and its consolidated Subsidiaries (net of capitalized interest expense), (v) depreciation expense, (vi) amortization expense and (vii) other non-cash charges approved by the Bank in its reasonable discretion and plus the following: (i) $45.0 million for the Fiscal Quarter ending December 31, 2013, (ii) $30.0 million for the Fiscal Quarter ending March 31, 2014 and (iii) $15.0 million for the Fiscal Quarter ending June 30, 2014 -13- SECTION 4.