Funds Flow Coverage Ratio definition
Funds Flow Coverage Ratio means the sum of quarterly earnings (excluding quarterly earnings attributed to SI/Baker) before interest expense, taxes, depreciati▇▇, ▇mortization, and extraordinary gains as defined in generally accepted accounting principles, plus quarterly dividends distributed by SI/Baker and paid to Borrower divided by interest expense for the subject quarter.
Funds Flow Coverage Ratio means (A) the sum of (i) cash flow from operating activities before changes in operating assets and liabilities and (ii) cash interest expense, divided by (B) the sum of (i) cash interest expense and (ii) current maturities of long term debt.
Funds Flow Coverage Ratio means (a) the Borrower’s net profit, plus depreciation, plus amortization, plus cash proceeds from the sale of treasury stock, minus dividends, withdrawals and non-cash income, minus capital expenditures; divided by (b) the sum of the current maturities of long term debt plus capital lease obligations.”
Examples of Funds Flow Coverage Ratio in a sentence
Borrower shall maintain a Funds Flow Coverage Ratio of not less than 1.20 to 1.00.
Borrower agrees to the following provisions from the date hereof until final payment in full of the Obligations, unless Bank shall otherwise consent in writing, and all financial covenants shall be calculated on a consolidated basis, using the financial information for Borrower, its subsidiaries and affiliates, including without limitation, Ermanco Incorporated, but excluding SI Baker and Egimen: Funds Flow Coverage Ratio.
Borrower shall, for the quarter ending June 30, 2003, and thereafter maintain a Funds Flow Coverage Ratio of not less than 1.25 to 1.00, measured quarterly.
Borrower shall, at all ▇▇▇▇▇, maintain a Funds Flow Coverage Ratio of not less than 1.25 to 1.00, measured quarterly on a rolling four quarters basis.
The revised Funds Flow Coverage Ratio under the Loan Agreement resulting from the revisions to the definition of the term “Funds Flow Coverage Ratio” as set forth in this Seventh Modification shall be initially measured on September 30, 2003.
More Definitions of Funds Flow Coverage Ratio
Funds Flow Coverage Ratio means (i) the sum, for the four fiscal quarters then ended, of net income after taxes plus depreciation, amortization of good will, interest, Add-Backs and expenses related to Share Based Payments as required by Statement of Financial Accounting Standards (SFAS) No. 123(R) minus all dividends, withdrawals and non-cash income divided by (ii) the sum of all current maturities of long-term debt and capital leases obligations, plus interest. Such
Funds Flow Coverage Ratio means the sum of earnings before interest, taxes, depreciation and amortization divided by the sum of all current maturities of long term debt and capital lease obligations plus interest expense. Total Liabilities to Net Worth Ratio. Borrower shall, from closing until fiscal year-end December 31, 2000, maintain a ratio of Total Liabilities to Net Worth of not more than 1.80 to 1.00, and at all times thereafter, Borrower shall maintain a ratio of Total Liabilities to Net Worth of not more than 1.75 to 1.00. "Net Worth" shall mean total assets minus Total Liabilities. "Total Liabilities" shall mean all liabilities of Borrower, excluding debt fully subordinated to Bank on terms and conditions acceptable to Bank, and including capitalized leases and all reserves for deferred taxes and other deferred sums appearing on the liabilities side of a balance sheet, in accordance with generally accepted accounting principles applied on a consistent basis. Current Ratio. Borrower shall, at all times, maintain a Current Ratio of not less than 1.20 to 1.00. "Current Ratio" shall mean the ratio of Current Assets to Current Liabilities. "Current Assets" shall mean all assets which are so classified in accordance with generally accepted accounting principles. "Current Liabilities" shall mean all liabilities which are so classified in accordance with generally accepted accounting principles. Limitation on Debt. Borrower shall not, directly or indirectly, create, incur, assume or become liable for any additional indebtedness, whether contingent or direct, if, giving effect to such additional debt on a pro forma basis causes the aggregate amount of Borrower's debt to exceed $50,000.00, excluding (a) obligations to Bank; (b) $250,000.00 to be invested in Egimen; and (c) amounts payable to the former shareholders of Ermanco Incorporated in connection with the acquisition for which the Loan was, in part, obtained, which amounts shall not exceed $3,000,000.00 in the aggregate. Depository Relationship. Borrower shall maintain its primary depository account with Bank.
Funds Flow Coverage Ratio means the sum of earnings before interest, taxes, depreciation and amortization divided by the sum of all current maturities of long term debt and capital lease obligations plus interest plus income taxes.
Funds Flow Coverage Ratio means the sum of earnings before interest, taxes, depreciation and amortization divided by the sum of all current maturities of long term debt and capital lease obligations plus interest plus income taxes. Tangible Net Worth. Borrower shall, at all times, maintain a Tangible Net Worth of not less than $6,000,000.00. "Tangible Net Worth" shall mean total assets minus total liabilities. For purposes of this computation, the aggregate amount of any intangible assets of Borrower including, without limitation, goodwill, franchises, licenses, patents, trademarks, trade names, copyrights, service marks, and brand names, shall be subtracted from total assets, and total liabilities shall include debt fully subordinated to Bank on terms and conditions acceptable to Bank.
Funds Flow Coverage Ratio means net income plus depreciation plus interest divided by current maturities of long term debt plus interest.
Funds Flow Coverage Ratio as set forth in this Seventh Modification shall be initially measured on September 30, 2003.
Funds Flow Coverage Ratio means the sum of (i) Net Income, interest expense, depreciation and amortization less (ii) preferred dividends, unfunded capital expenditures, software development costs and non-cash income (to the extent included in Net Income) divided by the sum of interest expense, current maturities of long term debt (excluding any and all Line of Credit Loans) and capital leases (calculated in accordance with GAAP) plus twenty percent of the average of the maximum borrowings outstanding under the Revolving Facility Commitment during each of the two most recent quarters. Prior to February 27, 1998, the Funds Flow Coverage Ratio shall be calculated by annualizing all components of the Funds Flow Coverage Ratio. Thereafter, the Funds Flow Coverage Ratio shall be calculated on a twelve-month rolling basis.