Examples of Net Interest Payable in a sentence
The Company undertakes that on each Calculation Date the ratio of EBITDAX of the Group to the Net Interest Payable of the Group for the Measurement Period shall be greater than or equal to 2.25 : 1.00.
All the debt maturing after that date is fixed rate debt.The Group is required to meet two financial covenants, for the Unsecured Senior Credit Facility, the European Investment Bank senior loans and the Revolving Credit Facility, calculated on the basis of (i) the ratio of total Net Debt to EBITDA (Earnings before Interests, Taxes, Depreciation and Amortization), and (ii) the ratio of EBITDA to Net Interest Payable.
For the purposes of calculating the Consolidated Total Net Interest Payable, the Consolidated Total Net Interest Payable in respect of the period from 1 January 2006 to 30 September 2006 shall be deemed annualised by multiplying the Consolidated Total Net Interest Payable for the 9 month period to 30 September 2006 by 4/3.
The Company must ensure that on each Testing Date the ratio of Consolidated EBITA to Consolidated Net Interest Payable for the Measurement Period ending on that Testing Date is not less than 3:1.
The Company must ensure that the ratio of Consolidated EBITDA to Consolidated Net Interest Payable is, at the end of each Measurement Period, greater than 4 to 1.