Indebtedness to EBITDA Ratio. As at any date of determination and with respect to any transferee, the ratio of (a) Indebtedness of the transferee and its subsidiaries on a consolidated basis (excluding (i) Indebtedness of the type referenced in clauses (g) or (h) of the definition of Indebtedness or Indebtedness referred to in clauses (e) or (j) of the definition of Indebtedness to the extent relating to Indebtedness of the type referenced in clauses (g) or (h) of the definition of Indebtedness), to (b) EBITDA of the transferee and its consolidated subsidiaries for the Test Period most recently ended prior to such date for which financial statements are available. For purposes of calculating the Indebtedness to EBITDA Ratio, EBITDA shall be calculated on a pro forma basis (and shall be calculated, except for pro forma adjustments reasonably contemplated by the potential transferee which may be included in such calculations, otherwise in accordance with Regulation S-X under the Securities Act) to give effect to any material acquisitions and material asset sales consummated by the transferee or any such subsidiary since the beginning of such Test Period as if each such material acquisition had been effected on the first day of such Test Period and as if each such material asset sale had been consummated on the day prior to the first day of such Test Period. In addition, for the avoidance of doubt, (i) if the transferee or any such subsidiary has incurred any Indebtedness or repaid, repurchased, acquired, defeased or otherwise discharged any Indebtedness since the end of the applicable Test Period, Indebtedness shall be calculated (for purposes of this definition) after giving effect on a pro forma basis to such incurrence, repayment, repurchase, acquisition, defeasance or discharge and the applications of any proceeds thereof as if it had occurred prior to the first day of such Test Period and (ii) the Indebtedness to EBITDA Ratio shall give pro forma effect to the transactions whereby the applicable transferee becomes party to the Master Lease permitted under Section 22.2.
Indebtedness to EBITDA Ratio means (a) the sum of (i) Funded Indebtedness as of the last day of the applicable Measurement Period (except to the extent such Indebtedness is to be repaid and/or refinanced in connection with a Refinancing on such day and is included in clause (ii) below), and (ii) all additional Funded Indebtedness incurred or to be incurred in connection with the applicable Refinancing as if such Refinancing had occurred on such day, divided by (b) the Applicable EBITDA.
Indebtedness to EBITDA Ratio means, as at any date of determination, the ratio of (i) the aggregate amount of Indebtedness of the Corporation and its Restricted Subsidiaries on a consolidated basis as at the date of determination (the "Determination Date") to (ii) the Consolidated EBITDA of the Corporation for the then most recent four full fiscal quarters for which reports have been filed pursuant to paragraph 11(i) of this Section 4.2.1 (such four full fiscal quarter period being referred to herein as the "Four Quarter Period"); provided that (x) pro forma effect shall be given to any Indebtedness Incurred from the beginning of the Four Quarter Period through the Determination Date (including any Indebtedness Incurred on the Determination Date), to the extent outstanding on the Determination Date, (y) if during the period commencing on the first day of such Four Quarter Period through the Determination Date (the "Reference Period"), the Corporation or any of the Restricted Subsidiaries shall have engaged in any Asset Sale, Consolidated EBITDA for such period shall be reduced by an amount equal to the EBITDA (if positive), or increased by an amount equal to the EBITDA (if negative), directly attributable to the assets which are the subject of such Asset Sale and any related retirement of Indebtedness as if such Asset Sale and related retirement of Indebtedness had occurred on the first day of such Reference Period or (z) if during such Reference Period the Corporation or any of the Restricted Subsidiaries shall have made any Asset Acquisition, Consolidated EBITDA of the Corporation shall be calculated on a pro forma basis as if such Asset Acquisition and any related financing had occurred on the first day of such Reference Period. In calculating this ratio for purposes hereof, the amount of outstanding Indebtedness shall be deemed to include the liquidation preference of any preferred stock then outstanding.
Examples of Indebtedness to EBITDA Ratio in a sentence
The Company will at all times maintain, on a consolidated basis, a Total Indebtedness to EBITDA Ratio of not more than 3.00 to 1.00.
The Company will not permit the Senior Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter to be greater than 2.50 to 1.00 as of the fiscal quarter ending June 30, 2018 and on each fiscal quarter ending thereafter.
The Company will not permit the Total Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter to be greater than 3.75 to 1.00 as of the fiscal quarter ending June 30, 2018 and on each fiscal quarter ending thereafter.
Permit the Borrower’s Indebtedness to EBITDA Ratio as of the end of any fiscal quarter to be greater than 3.0:1.
SHELL EXPLORATION & PRODUCTION COMPANY SHELL GLOBAL SOLUTIONS (US) INC.
More Definitions of Indebtedness to EBITDA Ratio
Indebtedness to EBITDA Ratio means the ratio of Indebtedness to EBITDA as determined and calculated in accordance with Section 5.2.
Indebtedness to EBITDA Ratio means, on any Transaction Date, the ratio of ----------------------------
Indebtedness to EBITDA Ratio means the relationship, expressed as a numerical ratio, between:
Indebtedness to EBITDA Ratio means, with respect to the Company as of any date, the quotient of (a) the aggregate amount of Indebtedness of the Company and the Company's Subsidiaries as determined (i) on a consolidated basis as of such date, (ii) in accordance with GAAP applied on a consistent basis in accordance past practice and (iii) after giving effect to the payment of the aggregate Prepayment Price for the Notes outstanding as of such date DIVIDED BY (b) the product of (i) the EBITDA of the Company and the Company's
Indebtedness to EBITDA Ratio of any Person means at any date the ratio of Consolidated Indebtedness outstanding on such date to the product calculated by multiplying the aggregate EBITDA for the first full fiscal quarter immediately preceding such date by four; provided, however, that, in the event such Person or any of its Restricted Subsidiaries has acquired a Person during or after such period in a pooling-of-interests transaction, such computation shall be made on a pro forma basis as if the transaction had taken place on the first day of such period.
Indebtedness to EBITDA Ratio of any Person means at any date the ratio of Consolidated Indebtedness outstanding on such date to EBITDA for the four full fiscal quarters immediately preceding such date; provided, however, that, in the event such Person or any of its Restricted Subsidiaries has acquired a Person during or after such period in a pooling-of-interests transaction, such computation shall be made on a pro forma basis as if the transaction had taken place on the first day of such period.
Indebtedness to EBITDA Ratio means, as at any date of determination, the ratio of (i) the aggregate amount of Indebtedness of WCI and its Restricted Subsidiaries on a consolidated basis ("Consolidated Indebtedness") as at the date of determination (the "Transaction Date") to