Interest Coverage Ratio Financial Covenant definition

Interest Coverage Ratio Financial Covenant shall have the meaning assigned to such term in Section 6.09(b).
Sample 1Sample 2Sample 3
Interest Coverage Ratio Financial Covenant and collectively with the Total Leverage Ratio Financial Covenant, the “Financial Covenants”): Test Period Ended Interest Coverage Ratio March 31.2015 - 2.150:1.00 June 30, 2015 2.150:1.00 September 30, 2015 2.250:1.00 December 31, 2015 - 2.250:1.00 March 31, 2016 - 2.400:1.00 June 30, 2016 - 2.400:1.00 September 30, 2016 - 2.500:1.00 December 31, 2016 - 2.500:1.00 March 31, 2017 - 2.600:1.00 June 30, 2017 and each Test Period ending thereafter - 2.750:1.00
Sample 1Sample 2
Interest Coverage Ratio Financial Covenant means the financial covenant set forth in Section 5.02(a) of the Credit Agreement as in effect on the Fourth Amendment Effective Date and without giving effect to any amendment, restatement, supplement, waiver or other modification or termination thereof (unless otherwise agreed to in writing by the Administrative Agent and each Purchaser in its sole discretion).
Sample 1Sample 2

Examples of Interest Coverage Ratio Financial Covenant in a sentence

  • Effective as of the Effective Date, Agent and Lenders hereby waive compliance by Borrower with (i) the Maximum Leverage Ratio Financial Covenant at the end of the Fiscal Quarters ending on June 30, 1998, September 30, 1998, December 31, 1998, March 31, 1999 and June 30, 1999, and (ii) the Minimum Interest Coverage Ratio Financial Covenant for the 12-month periods ended on the Fiscal Quarters ending June 30, 1998, September 30, 1998, December 31, 1998, March 31, 1999 and June 30, 1999.


More Definitions of Interest Coverage Ratio Financial Covenant

Interest Coverage Ratio Financial Covenant has the meaning specified in Section 7.11(b).
Sample 1
Interest Coverage Ratio Financial Covenant has the meaning specified in Section 7.09. “Interest Payment Date” means, (a) as to any Alternative Currency Daily Rate Loan, (i) the date that is on the numerically corresponding day in each calendar month on a monthly basis following the Borrowing of such Loan (or, if there is no such numerically corresponding day in such month, then the last day of such effected month) and (ii) the applicable maturity date set forth in the Credit Agreement; (b) as to any Alternative Currency Term Rate Loan, any Eurocurrency Rate Loan or any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was made; provided, however, that if any Interest Period for an Alternative Currency Term Rate Loan, a Eurocurrency Rate Loan or a Term SOFR Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (c) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date of the Facility under which such Loan was made.
Sample 1
Interest Coverage Ratio Financial Covenant has the meaning specified in Section 7.09. “Interest Payment Date” means, (a) as to any Alternative Currency Daily Rate Loan, (i) the date that is on the numerically corresponding day in each calendar month on a monthly basis following the Borrowing of such Loan (or, if there is no such numerically corresponding day in such month, then the last day of such effected month) and (ii) the applicable maturity date set forth in the Credit Agreement; (b) as to any Alternative Currency Term Rate Loan, any Eurocurrency Rate Loan or any Term SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of the Facility under which such Loan was made; provided, however, that if any Interest Period for an Alternative Currency Term Rate Loan, a Eurocurrency Rate Loan or a Term SOFR Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (bc) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date of the Facility under which such Loan was made. “Interest Period” means, as to each (a) Eurocurrency Rate Loan, the period commencing on the date such Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter (in each case, subject to availability) as selected by Parent Borrower in its Committed Loan Notice, or(b) Term SOFR Loan, the period commencing on the date such Loan is disbursed or converted to or continued as a Term SOFR Loan and ending on the date one, three or six months thereafter (in each case, subject to availability) as selected by Parent Borrower in its Committed Loan Notice, (c) Alternative Currency Term Rate Loan, the period commencing on the date such Alternative Currency Term Rate Loan is disbursed or converted to or continued as an Alternative Currency Term Rate Loan and ending on the date one, three or six months thereafter (in each case, subject to availability for the interest rate applicable to the relevant currency), as selected by the Parent Borrower in its Committed Loan Notice, or (d) such other period that is twelve months, less than one month or such other period as may be requested by Parent Borrower and in each case, consented to by all the Lenders of such Eurocurrency Rate Loan, Term SOFR Loan or Alternative Currency Term Rate Loan; provided t...
Sample 1
Interest Coverage Ratio Financial Covenant and, together with the Leverage Ratio Financial Covenant, the “Financial Covenants” and each a “Financial Covenant”). For the avoidance of doubt, the Interest Coverage Ratio shall only apply with respect to the Revolving Credit Facility. Section 7.10
Sample 1

Related to Interest Coverage Ratio Financial Covenant

  • Interest Coverage Ratio means, as of any date, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the Test Period as of such date.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date to (b) Consolidated Interest Expense for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Leverage Ratio means, on any date, the ratio of Total Debt on such date to Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Indebtedness for Borrowed Money of the Borrower and its Subsidiaries on a consolidated basis as of such date to (b) Consolidated EBITDA for the most recently completed four fiscal quarters.

  • Asset Coverage Ratio means, on a consolidated basis for Borrower and its Subsidiaries, the ratio which the value of total assets, less all liabilities and indebtedness not represented by Senior Securities, bears to the aggregate amount of Senior Securities representing indebtedness of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder). For clarity, the calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive order issued by the Securities and Exchange Commission under Section 6(c) of the Investment Company Act relating to the exclusion of any Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Financial Covenant means the covenant set forth in Section 7.09.

  • Total Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period.

  • Consolidated Fixed Charge Coverage Ratio means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four-Quarter Period”) ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which internal financial statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for the Four-Quarter Period. In addition to, and without limitation of, the foregoing, for purposes of this definition, “Consolidated EBITDA” and “Consolidated Fixed Charges” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence or repayment of any Indebtedness or the issuance of any Designated Preferred Stock of such Person or any of its Restricted Subsidiaries (and the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment of other Indebtedness or the issuance or redemption of other Preferred Stock (and the application of the proceeds thereof), other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes pursuant to revolving credit facilities, occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such incurrence or repayment or issuance or redemption, as the case may be (and the application of the proceeds thereof), had occurred on the first day of the Four-Quarter Period; and (ii) any Asset Sales or other dispositions or Asset Acquisitions (including any Asset Acquisition giving rise to the need to make such calculation as a result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of the Asset Acquisition) incurring, assuming or otherwise being liable for Acquired Indebtedness and also including any Consolidated EBITDA attributable to the assets which are the subject of the Asset Acquisition or Asset Sale or other disposition and without regard to clause (vi) of the definition of Consolidated Net Income), investments, mergers, consolidations and disposed operations (as determined in accordance with GAAP) occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or other disposition or Asset Acquisition (including the incurrence or assumption of any such Acquired Indebtedness), investment, merger, consolidation or disposed operation, occurred on the first day of the Four-Quarter Period. If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such other Indebtedness that was so guaranteed.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio: