Fixed Charged Coverage Ratio definition

Fixed Charged Coverage Ratio means the ratio of (a) the sum of EBIT plus lease expense and rent expense, to (b) the sum of interest expense, lease expense, rent expense, the current portion of long term debt and the current portion of capitalized lease obligations. "EBIT" means net income, less income or plus loss from discontinued operations and extraordinary items, plus income taxes, plus interest expense. This ratio will be calculated at the end of each reporting period for which Lender requires financial statements from Borrower, using the results of the twelve-month period ending with that reporting period. The current portion of long-term liabilities will be measured as of the date 12 months prior to the current financial statement.

Fixed Charged Coverage Ratio means, with respect to the Borrower, the ratio of (i) EBITDA less taxes paid, less capital expenditures, and less dividends and other distributions, to (ii) current principal payments due, plus interest expense, for the period covered by the calculation.

Fixed Charged Coverage Ratio means the ratio derived by dividing (i) the result of (a) Operating Cash Flow minus (b) the sum of (x) cash taxes plus (y) expenditures made for fixed or capital assets plus (z) dividends or other cash distributions, in each case for the then most recently completed previous four fiscal quarters by (ii) the cumulative total of principal and cash interest payments required during the then most recently completed previous four fiscal quarters, all as determined in accordance with GAAP consistently applied.

Examples of Fixed Charged Coverage Ratio in a sentence

• Notwithstanding the foregoing, in the event Fixed Charged Coverage Ratio is less than 1.00 to 1.00, and no Event of Default exists, principal payments due on the Term Loan may be suspended by the Borrowers for a period of six months from the time that Agent is notified of the Fixed Charge Coverage Ratio.

• Borrower agrees to maintain a Fixed Charged Coverage Ratio of at least 1.25 to 1.0 with respect to its United States operations, excluding foreign subsidiaries and income.

• Borrower agrees to maintain a Fixed Charged Coverage Ratio of at least 1.25 to 1.0. "Fixed Charged Coverage Ratio" means the ratio of (a) the sum of EBIT plus lease expense and rent expense, to (b) the sum of interest expense, lease expense, rent expense, the current portion of long term debt and the current portion of capitalized lease obligations.

• Notwithstanding the foregoing, in the event that the Fixed Charged Coverage Ratio is less than 1.00 to 1.00 at any time after December 31, 2013, as measured in accordance with Section 5.01(e), and there exists no other Event of Default, principal payments due on the Term Loan may be suspended by the Borrowers for a period of six months from the time that the Agent is notified of the Fixed Charge Coverage Ratio.

• There is consequently no need to read the language unnaturally as giving the Attorney General the authority only to make exceptions from an implicit (unstated) rule that would otherwise apply the new registration requirements to all pre-Act offenders across the board and immediately.

More Definitions of Fixed Charged Coverage Ratio

Fixed Charged Coverage Ratio means the ratio of (a) the sum of EBITDA minus the sum of taxes, dividends, and maintenance capital expenditures, to (b) the sum of interest expense, the current portion of long term debt, and the current portion of capitalized lease obligations."

Fixed Charged Coverage Ratio means, for the defined period, interest expense net of interest income, interest paid in kind and amortization of capitalized fees and expenses incurred to consummate the transactions contemplated in the Loan Documents and included in interest expense, included in the determination of net income of Borrower plus any provision for (benefit from) income or franchise taxes included in net income, scheduled payments of principal with respect to all Debt (including the portion of scheduled payments under Capital Leases allocable to principal but excluding scheduled repayments of Revolving Credit Loans and other Debt subject to reborrowing to the extent not accompanied by a concurrent and permanent reduction of the Revolver Facility (or equivalent facility)), increases (decreases) in deferred tax assets, decreases (increases) in deferred tax liabilities, and Distributions made by Borrower in cash.

Fixed Charged Coverage Ratio means the ratio of (a) the sum of EBITDA minus the sum of taxes, dividends, and maintenance capital expenditures, to (b) the sum of interest expense, the current portion of long term debt, and the current portion of capitalized lease obligations, in each case attributable to its operations in the United States. "EBITDA" means net income from Borrower's operations in the United States, less income or plus loss from discontinued operations and extraordinary items, plus income taxes, plus interest expense, plus depreciation, depletion and amortization, and plus non-cash charges. This ratio will be calculated using the results of Borrower's operations in the United States for the twelve-month period ending each March 31, June 30, September 30 and December 31."

Fixed Charged Coverage Ratio is hereby deleted in its entirety and the following substituted therefor:

Fixed Charged Coverage Ratio means the ratio of (a) the sum of EBITDA minus the sum of taxes, dividends, and maintenance capital expenditures, to (b) the sum of interest expense, the current portion of long term debt (excluding any balloon principal payment due to Lender on October 1, 2009), and the current portion of capitalized lease obligations, in each case attributable to its operations in the United States. "EBITDA" means net income from Borrower's operations in the United States, less income or plus loss from discontinued operations and extraordinary items, plus income taxes, plus interest expense, plus depreciation, depletion and amortization, and plus non-cash charges. This ratio will be calculated using the results of Borrower's operations in the United States for the three-month period ended June 30, 2009."

Fixed Charged Coverage Ratio means the ratio of (a) the sum of EBITDA plus lease expense and rent expense minus the sum of taxes and dividends, to (b) the sum of interest expense, lease expense, rent expense, the current portion of long term debt and the current portion of capitalized lease obligations. "EBITDA" means net income, less income or plus loss from discontinued operations and extraordinary items, plus income taxes, plus interest expense, plus depreciation, depletion and amortization, and plus non-cash charges. This ratio will be calculated at the end of each reporting period for which Lender requires financial statements from Borrower, using the results of the twelve-month period ending with that reporting period. The current portion of long-term liabilities will be measured as of the date 12 months prior to the current financial statement.

Fixed Charged Coverage Ratio is hereby amended by replacing the period at the end of clause (b)(ii) with the word "plus", and adding a new clause (iii) to read in its entirety as follows: