Minimum Interest Coverage definition

Minimum Interest Coverage means for each fiscal quarter of the Borrower the ratio of (a) the sum of EBITDA as of the end of such fiscal quarter for the preceding twelve months to (b) the Consolidated Interest Expense as of the end of such fiscal quarter for the preceding twelve months.

Minimum Interest Coverage the Company's Interest Coverage ratio in respect of any Relevant Period ending on or after 30 June 2022 shall not be less than a ratio of 3.00:1.

Minimum Interest Coverage has the meaning set forth in Section 6.14(a).

Examples of Minimum Interest Coverage in a sentence

• The Company shall not permit the Minimum Interest Coverage Ratio for the four-Fiscal Quarter period ending on the last day of any Fiscal Quarter to be less than 3.00 to 1.00.

• The Borrower shall not permit the Minimum Interest Coverage Ratio as of the last day of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending June 30, 2015 through and including the fiscal quarter ending March 31, 2016, to be less than 2.50 to 1.00.

• Any of the Loan Parties shall default in the observance or performance of any covenant contained in Section 8.1.11 [Anti-Terrorism Laws], Section 8.2.6 [Liquidations, Mergers, Consolidations, Acquisitions], Section 8.2.7 [Dispositions of Assets of Subsidiaries], Section 8.2.9 [Continuation of or Change in Business], Section 8.2.13 [Change in Ownership], Section 8.2.14 [Maximum Leverage Ratio] or Section 8.2.15 [Minimum Interest Coverage Ratio].

• Borrower shall not permit the Minimum Interest Coverage Ratio as of each fiscal quarter end of the Borrower to be less than 2.50 to 1.00; provided that, EBITDAX will be annualized for the first three such fiscal quarters until a full four-fiscal quarter period has elapsed after the Restructuring Effective Date (e.g. first fiscal quarter period times four, two fiscal quarter period times two, etc.).

• FINANCIAL COVENANTS: The definitive note purchase documentation shall contain the following financial covenants and such other financial covenants as First Union and the Issuer may agree: (a) Maximum Leverage Ratio; (b) Minimum Interest Coverage Ratio; (c) Maximum Annual Capital Expenditures; and (d) Minimum EBITDA.

More Definitions of Minimum Interest Coverage

Minimum Interest Coverage. It maintains a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of greater than or equal to: (i) 2.00 at all times from June 30, 2019 through March 31, 2020 and (ii) 2.50 from April 1, 2020 and at all times thereafter;

Minimum Interest Coverage. The ratio " Minimum Interest Coverage" shall mean "Earning Before Taxes and Interest" as defined herein, divided by "Interest Expense" as defined herein.

Minimum Interest Coverage means "Earning Before Taxes and Interest" as defined herein, divided by "Interest Expense" as defined herein.

Minimum Interest Coverage. Ratio required under subsection 7.6A: _____:1.00

Minimum Interest Coverage. Ratio required by Section 8.13 of the Credit Agreement is: ____:1.00

Minimum Interest Coverage the Company's Interest Coverage ratio in respect of any Relevant Period ending on or after 31 December 2017 shall not be less than a ratio of 3.00:1. For purposes of calculations under this Clause 20.2, prior to the consummation of the Bengal Acquisition (or until the date that is 90 days after the termination of the Bengal Acquisition Agreement), Consolidated Indebtedness shall not include Specified Senior Notes Indebtedness; provided that (i) the release of the proceeds of the Specified Senior Note Indebtedness to the Company and its Subsidiaries is contingent upon the consummation of the Bengal Acquisition and, pending such release, such proceeds are held in escrow (and, if the Bengal Acquisition Agreement is terminated prior to the consummation of the Bengal Acquisition or if the Bengal Acquisition is otherwise not consummated by the date specified in the Specified Senior Notes Indenture, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of the Specified Senior Notes Indebtedness) or (ii) the Specified Senior Notes Indenture contains a "special mandatory redemption" provision (or other similar provision) or otherwise permits the Specified Senior Notes Indebtedness to be redeemed or prepaid if the Bengal Acquisition is not consummated by the date specified in the Specified Senior Notes Indenture (and if the Bengal Acquisition Agreement is terminated in accordance with its terms prior to the consummation of the Bengal Acquisition or the Bengal Acquisition is otherwise not consummated by the date specified in the Specified Senior Notes Indenture, the Specified Senior Notes Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

Minimum Interest Coverage shall have the meaning set forth in SECTION 5.1(bb).