Examples of Ratio of Total Funded Debt to EBITDA in a sentence
The applicable Ratio of Total Funded Debt to EBITDA for the Covenant Computation Date is _____ to 1.00.
As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Ratio of Total Funded Debt to EBITDA of not greater than 3.50:1.
The Bank hereby waives the violation of the provisions of Section 6.01(g)(2) and 6.01(g)(3) of the Existing Agreement with respect to the Fixed Charge Coverage Ratio and the Ratio of Total Funded Debt to EBITDA, respectively, only for the period of four (4) consecutive quarters ending on December 1, 2001.
The Bank has received financial statements from the Company for the fiscal quarter ending May 30, 1998, which report that as of the close of such quarter, the Company, for the period of the four consecutive fiscal quarters which ended on May 30, 1998, had a Ratio of Total Funded Debt to EBITDA of 3.4 to 1.00, which therefore exceeded the 3.00 to 1.00 maximum ratio permitted under Subsection 6.01(g)(3).
As of the close of each fiscal quarter of the Company ending after the Closing Date, the Credit Parties and their respective Subsidiaries, for the period of the four consecutive fiscal quarters which end on such close, shall have a Ratio of Total Funded Debt to EBITDA of not greater than (i) 4.00:1 through June 29, 2002, (ii) 3.75:1 from June 30, 2002, through September 29, 2002, and (iii) 3.50:1 on September 30, 2002, and thereafter.
The Bank hereby waives the remedies available to the Bank on account of the violation of Section 6.0l(g)(3), bearing the heading Ratio of Total Funded Debt to EBITDA under the Affirmative and Negative Covenants of Borrower section of the Agreement, with respect to the Company's failure to meet this Ratio at May 27, 2000, and continuing through September 1, 2000.
Set forth on Schedule I attached hereto are all relevant facts in reasonable detail to evidence and to compute (A) the Ratio of Total Funded Debt to EBITDA of the Borrower and its Subsidiaries for purposes of establishing the appropriate Floating Rate Margin, Eurodollar Rate Margin and Unused Commitment Fee Percentage and (B) whether or not the Borrower is in compliance with the financial covenants referred to above.
It is noted that the tables defining Applicable Unused Commitment Fee Percentage and the Applicable Spread provide for a Ratio of Total Funded Debt to EBITDA greater than that which may be permissible under the terms of subsection 5.01(g) of this Agreement.
Ratio of Total Funded Debt to EBITDA" means, with respect to any period, the ratio of Total Funded Debt at the close of that period to EBITDA of the Company for that period.
As of the close of each fiscal quarter of the Company ending after the Closing Date, the Company, for the period of the four consecutive fiscal quarters which end on such close, shall have a Ratio of Total Funded Debt to EBITDA of not greater than (i) 3.00:1.00 until August 28, 1998; (ii) 2.50 from August 29, 1998, and thereafter.