Minimum Fixed Charge Coverage definition

Minimum Fixed Charge Coverage is defined as the sum of EBIT (Earnings Before Interest and Taxes or any extraordinary charges related to the merger with XXXXX Infrared Systems) plus Rents (or Lease Payments) divided by the sum of Interest plus Rents (or Lease Payments). This ratio will be calculated at the end of each fiscal quarter, using the results of that quarter and each of the 3 immediately preceding quarters on a rolling 4 quarter basis.

Minimum Fixed Charge Coverage means: (i) EBITDA divided by (ii) the aggregate of all Fixed Charges. For the purposes of this Agreement, "Fixed Charges" means all principal payments and interest expense relating to any loans or other debt (including the Loans, Senior Debt and capitalized leases), all capital expenditures and all lease payments under operating leases; provided, that in determining Fixed Charges, the following conventions shall apply: . Principal and interest arising under that certain amended and restated Credit Agreement dated as of May 18, 2001, amending and restating the Credit Agreement dated April 5, 2001 among Guarantor, the guarantors party thereto, Xxxxxxx Xxxxx & Co., Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, Secured Party and Bankers Trust Company shall be excluded so long as such Credit Agreement has been terminated and the indebtedness thereunder has been paid in full. . Principal payments and interest expense in respect of any Permitted Revolving Debt shall be excluded. . Interest expense shall be calculated in accordance with GAAP; provided that, to the extent such interest expense calculation would result in double counting an expense item included in another component of the Fixed Charges, then such item shall only be counted once. . Non-cash expenses attributable to amortization of deferred finance fees and accretion of original issue discount of debt shall be excluded. . From the period commencing on the date hereof and ending March 31, 2003, all payments under all operating leases up to $1,000,000 per quarter shall be excluded, and for all periods thereafter, all payments under all operating leases up to $1,500,000 per quarter shall be excluded. . Capital expenditures of up to $120,000,000 in connection with the Expansion Project shall be excluded.

Minimum Fixed Charge Coverage has the meaning set forth in Section 7.5 of this Agreement.

Examples of Minimum Fixed Charge Coverage in a sentence

• Adjusted EBITDA, as defined, closely matches the operating measure used in the Company's Debt Leverage Ratio and Minimum Fixed Charge Coverage Ratio as defined by its Credit Agreement.

• Permit the Minimum Fixed Charge Coverage Ratio to be less than 1.50:1.00 as of the last day of any fiscal quarter of the Borrower.

• The Minimum Fixed Charge Coverage Ratio shall be calculated utilizing a ratio wherein (a) the numerator shall be: EBITDA plus operating lease expense minus (i) maintenance capital expenditures of $300,000 during each fiscal year period, (ii) income taxes paid or payable, (iii) dividends and distributions and (b) the denominator shall be (i) interest paid or payable, plus (ii) operating lease expense, plus (iii) scheduled amortization of long term debt (all as calculated in accordance with GAAP).

• In addition to standard operating covenants, the Company is subject to a Minimum Fixed Charge Coverage Ratio, a Minimum Tangible Net Worth Ratio, and a Maximum Leverage Ratio.

• Such other information (including non-financial information) as the Administrative Agent, the LC Bank or any Lender may from time to time reasonably request; provided, however, that at any time that no Minimum Fixed Charge Coverage Ratio Period or Event of Default has occurred and is continuing, the Administrative Agent will not request an Interim Report be furnished with respect to the Pool Receivables.

More Definitions of Minimum Fixed Charge Coverage

Minimum Fixed Charge Coverage. Section 6.10 "Minimum Fixed Charge Coverage" shall be deleted in its entirety.

Minimum Fixed Charge Coverage shall be deleted in its entirety.

Minimum Fixed Charge Coverage covenant previously set forth in Section 5b. of the Schedule to the Loan Agreement for the period ending December 31, 2003. The Bank's waiver of Borrower's compliance with said foregoing affirmative covenants shall apply only to the foregoing specified periods.

Minimum Fixed Charge Coverage. (Quarterly test during first three fiscal quarters of fiscal year 2000, LTM thereafter) - as to the fiscal quarters ending on the dates set forth below, a proportion not less than that set forth opposite such quarter: Quarter Ratio March 31, 2000 > 0.45 to 1.00 June 30, 2000 > 1.25 to 1.00 September 30, 2000 > 1.50 to 1.00 and thereafter

Minimum Fixed Charge Coverage. For the period from Closing Date through December 31, 1996 3:00 to 1.00 Thereafter 3.50 to 1.00 LEVERAGE RATIO

Minimum Fixed Charge Coverage. For fiscal quarter ending December 31, 1996 3.00 to 1 For fiscal quarters ending March 31, 1997, June 30, 1997, September 30, 1997 and December 31, 1997 2.75 to 1 Thereafter 3.00 to 1"

Minimum Fixed Charge Coverage. Ratio. Maintain a ratio of Minimum Fixed Charge Coverage in excess of 1.500 to 1.000. This leverage ratio will be evaluated as of quarter-end. Minimum Fixed Charge Coverage means (after tax income + depreciation + amortization + lease expense + interest expense) divided by (lease expense + interest + expense + current maturities of long term debt)