Funded Debt to EBITDA means the ratio of (a) all of Borrower’s debt funded by third parties (exclusive of accruals or accounts payable) plus the amount of all outstanding Loans plus the face amount of all outstanding Letters of Credit plus the amount of all Reserves, to (b) Borrower’s EBITDA (as defined below) on an annualized basis, calculated on a rolling three month basis. For the purposes hereof, “EBITDA” shall mean, on a consolidated basis, Borrower’s earnings before interest, taxes, depreciation and other non-cash amortization expenses and other non-cash expenses of Borrower, determined in accordance with generally accepted accounting principles, consistently applied. As an example of the Funded Debt to EBITDA ratio, if the amount of Funded Debt is $5,000,000 and Borrower’s EBIDTA for October 2004 is $500,000, for November 2004 is $500,000 and for December 2004 is $1,000,000, the Funded Debt to EBITDA ratio for December 2004 would be 0.625 calculated as follows: (i) $5,000,000 (the Funded Debt) divided by (ii) $8,000,000 (the sum of Borrower’s October 2004, November 2004 and December 2004 EBITDA on an annualized basis (i.e., multiplied by 4)). In order to calculate the Funded Debt to EBITDA ratio for January 2005, the EBITDA portion will be calculated by adding the Borrower’s EBITDA for November 2004, December 2004 and January 2004 and multiplying such sum by 4, and any interest rate adjustment due to the Funded Debt to EBITDA ratio would go into effect March 1, 2005 assuming Borrower has provided Silicon with the necessary financial statements when required as provided for herein.
Funded Debt to EBITDA means for any specified accounting period, the ratio of Funded Debt as of the last day of such period (or, as to Revolving Credit Loans (as defined in the Credit Agreement) constituting Funded Debt, the average daily amount over the prior four consecutive Fiscal Quarters (or the period from the Effective Date (as defined in the Credit Agreement) to the last day of a Fiscal Quarter ending on or prior to the date of determination if shorter) of the outstanding principal amount of Revolving Credit Loans) to EBITDA for such period.
Funded Debt to EBITDA means, for the reporting period, the ratio of (a) Funded Debt, plus any letters of credit outstanding, plus capital leases outstanding on the last day of each calendar month in the most recent quarter, divided by three (3), to (b) EBITDA.
Examples of Funded Debt to EBITDA in a sentence
The applicable pricing margins are based on a sliding scale of Senior Funded Debt to EBITDA ratio.
Not permit the Funded Debt to EBITDA Ratio as of the last day of any Computation Period to exceed 2.50:1.0.
The Funded Debt to EBITDA Ratio shall be calculated and tested quarterly as of the last day of each Fiscal Quarter for the Calculation Period ending on the last day of such Fiscal Quarter.
To maintain, with respect to GSE on a consolidated basis, a ratio of Funded Debt to EBITDA not exceeding 2.50:1.00.
The Borrower will not permit the ratio of Funded Debt to EBITDA of the Borrower as of the end of any fiscal quarter of the Borrower (on a consolidated basis calculated quarterly based upon the four most recently completed quarters) to be more than 3.50 to 1.00.
More Definitions of Funded Debt to EBITDA
Funded Debt to EBITDA is hereby added to Section 1.1 of the Loan Agreement in the proper alphabetical order, as follows:
Funded Debt to EBITDA means the ratio of the Borrower's Funded Debt to its EBITDA."
Funded Debt to EBITDA. A ratio of Funded Debt to EBITDA not greater than 3.0 to 1.0, measured quarterly as of the last day of each fiscal quarter. Funded Debt means the sum of all interest bearing debt as of the last day of the applicable fiscal quarter (or, with respect to the Line of Credit, as of fifteen (15) days after the last day of the applicable fiscal quarter). EBITDA has the meaning ascribed to it in the “Fixed Charge Coverage Ratio” covenant above in this Section 5.
Funded Debt to EBITDA means the sum of all Funded Debt as of the end of the most recent fiscal quarter divided by the sum of earnings before interest, taxes, depreciation and amortization for the 12-month period ended as of the end of the most recent fiscal quarter. “Funded Debt” shall mean, as applied to any person or entity, the sum of all indebtedness for borrowed money, (including, without limitation, capital lease obligations and unreimbursed drawings under letters of credit), or any other monetary obligation evidenced by a note, bond, debenture or other agreement or similar instrument of that person or entity, excluding any debt subordinated to Bank. “EBITDA” shall mean earnings before interest expense, income taxes, and depreciation and amortization, except that for this purpose earnings shall not include the affect of any non-cash stock-based compensation expense or any non-cash change in fair value of Albion Alliance Mezzanine Fund II, L.P.’s put rights under that certain Class A Common Stock Purchase Warrant issued by the Borrower on September 3, 2002.
Funded Debt to EBITDA covenant set forth in Section 10.2 of the Loan and Security Agreement and has asked the Lender to waive said violations and to modify the Loan, as evidenced by this Agreement.
Funded Debt to EBITDA at all times during the Facility Period the Consolidated Funded Debt to EBITDA Ratio shall not exceed 3.50 to 1.00.
Funded Debt to EBITDA means the amount of Borrower 's funded debt but excluding (1) accounts payable: (2) accruals; (3) subordinated debt; and, (4) other non-contractual debts, divided by (5) the amount of Borrower's net earnings before interest, taxes, depreciation and amortization expenses. Unfunded Debt means bonds, loans, or other debt with a maturity date this one year or longer from the date of the debt 's origination, or such other debt as may be included in the calculation by Lender in its sole discretion. "EBITDA" means the amount of Borrower's earnings before interest, taxes, depreciation, and amortization, all as reflected in the same applicable period. The ratio shall be maintained at all times, will be measured and evaluated by Lender no less than at the end of each month, and will be based upon the information set forth in Borrower 's financial statements.