Fixed Charge Coverage Ratio Covenant definition

Fixed Charge Coverage Ratio Covenant. Borrower shall maintain a Fixed Charge Coverage Ratio (as defined below) of not less than 1.1 to 1.0 as determined on the last day of each fiscal quarter of Borrower for the four fiscal quarter period ending on such date. For the purposes hereof, (i) "Fixed Charge Coverage Ratio" shall mean, for any period, the ratio of EBITDA for such period to Fixed Charges for such period, (ii) "EBITDA" shall mean, for any period, the sum of (A) net income (or loss) for the applicable period of measurement determined in accordance with generally accepted accounting principles, plus (B) any provision for (or less any benefit from) income and franchise taxes included in the determination of net income, plus (C) interest expense deducted in the determination of net income, plus (D) amortization and depreciation deducted in the determination of net income and (iii) "Fixed Charges" shall mean, for any period the sum of, without duplication (A) scheduled payments of principal and all credit availability reductions during such period with respect to all indebtedness (including capitalized leases) of Borrower, plus (B) scheduled payments of interest during such period with respect to all indebtedness (including capitalized leases) of Borrower, plus (C) all capital expenditures during such period for the purchase or other acquisition of fixed or capital assets, plus (D) payments during such period in respect of income or franchise taxes.
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Fixed Charge Coverage Ratio Covenant means the covenant of the Borrower set forth in Section 6.7(c).
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Fixed Charge Coverage Ratio Covenant or the Capitalization Ratio to exceed 0.55 (the “Capitalization Ratio Covenant”);
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Examples of Fixed Charge Coverage Ratio Covenant in a sentence

  • Fixed Charge Coverage Ratio Covenant: Borrower shall maintain a "Fixed Charge Coverage Ratio" (as defined below) of not less than 1.1 to 1.0 as determined on the last day of each fiscal quarter of Borrower for the four fiscal quarter period ending on such date.

  • In regard to a Fixed Charge Coverage Ratio Covenant Breach, the Fixed Charge Coverage Ratio shall be recalculated by adding to EBITDA the amount(s) of the applicable GPE Cash Infusion, GPE Guarantee Increase and/or the amount of the GPE Letter of Credit.

  • Notwithstanding anything to the contrary in the foregoing, the Agent and Lenders have agreed to waive each Event of Default arising from the failure of the Loan Parties to comply the Fixed Charge Coverage Ratio Covenant for each fiscal quarter commencing with the fiscal quarter ending December 31, 2015 up to the fiscal quarter immediately preceding the Closing Date.

  • We will modify the Fixed Charge Coverage Ratio Covenant through maturity (the next two quarterly tests) to (a) allow specific and approved China/fraud-related add-backs, and (b) reduce the ratio to 1.0x for September 30, 2021 and 1.10x for December 31, 2021.


More Definitions of Fixed Charge Coverage Ratio Covenant

Fixed Charge Coverage Ratio Covenant as of the last day of any fiscal quarter of Borrower, to be less than 1.40 to 1.00, commencing on the last day of the first full fiscal quarter in which the Consolidated Group owns at least five Properties;
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Fixed Charge Coverage Ratio Covenant. During the continuance of a Covenant Compliance Event, Parent shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, permit the Consolidated Fixed Charge Coverage Ratio, calculated on a trailing twelve month basis, to be less than 1.0:1.0, commencing with the month ending immediately preceding the date on which a Covenant Compliance Event first occurred. 1. Is a Covenant Compliance Event9 continuing? Yes _________ No _________ 2. If yes (covenant required to be tested), in compliance? Yes _________ No _________
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Fixed Charge Coverage Ratio Covenant has the meaning set forth in Section II.10(a)(i).
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Fixed Charge Coverage Ratio Covenant for any Test Period ending on the dates set forth below to be less than the ratio set forth below opposite such Test Period ending on such date: Fiscal Quarter beginning March 28, 2005 and ending on June 26, 2005 1.250:1.0 Four Consecutive Fiscal Quarters ending September 26, 2006 and each Four Consecutive Fiscal Quarters thereafter 1.250:1.0
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