Required Coverage Ratio definition

Required Coverage Ratio means: (i) 80%, unless one of the following clauses applies; (ii) 100%, if Company’s Gross Profit Margin for the fiscal year ending March 31, 2013 equals or exceeds 15% (as determined based on Company’s CPA-audited financial statements for such fiscal year); (iii) 150%, if Company’s Adjusted EBITDA for any fiscal year equals or exceeds $2,000,000 (as determined based on Company’s CPA-audited financial statements for such fiscal year); or (iv) no requirement (i.e., this Section 5.2(c) shall not apply), if Company’s Adjusted Net Income for any fiscal year equals or exceeds $-0- (as determined based on Company’s CPA-audited financial statements for such fiscal year); provided that (A) if Company satisfies both clauses (iii) and (iv) of this paragraph, this Section 5.2(c) shall not apply, and (B) any change in the Required Coverage Ratio shall begin to apply as of the first day of the first calendar month after receipt by Xxxxx Fargo of Company’s relevant CPA-audited financial statements.”

Required Coverage Ratio. With respect to a specified Class of Secured Notes and the related Interest Coverage Test or Par Value Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class: Class Required Par Value Ratio A/B 123.48% C 115.20% D 108.72% E 104.40% Class Required Interest Coverage Ratio A/B 120% C 115% D 110% E 105%

Required Coverage Ratio. With respect to a specified Class of Secured Debt and the related Interest Coverage Test or Overcollateralization Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class: Class Overcollateralization Ratio Test Interest Coverage Ratio Test A/B 144.95% 200.00% C 131.63% 175.00%

Examples of Required Coverage Ratio in a sentence

• At all times during which this Section 5.2(c) shall be in effect, the ratio of (i) the sum of the outstanding Advances under the Revolving Note plus the L/C Amount plus the outstanding “Advances” under the Ex-Im Credit Agreement to (ii) cash and Cash Equivalents of Company in which Xxxxx Fargo has a perfected first priority security interest, shall not exceed the Required Coverage Ratio (as defined below).

• At all times during which this Section 5.2(c) shall be in effect, the ratio of (i) the sum of the outstanding Advances under the Revolving Note, plus the outstanding principal balance of the CapEx Term Advance, plus the L/C Amount, plus the outstanding “Advances” under the Ex-Im Credit Agreement to (ii) cash and Cash Equivalents of Company in which Xxxxx Fargo has a perfected first priority security interest, shall not exceed the Required Coverage Ratio (as defined below).

• More information from Elizabeth Lightowler, Children and Families Research Unit, DeMontfort University, Scraptoft Campus, Leicester LE7 9SU.

• At all times that the Senior Leverage Ratio is (i) greater than or equal to .50 to 1.00 permit the Required Coverage Ratio to be less than 1.60 to 1.00, or (ii) less than .50 to 1.00 permit the Required Coverage Ratio to be less than 1.50 to 1.00.

• The Coverage Ratios for each of the two semi-annual Rent Payment Periods immediately preceding the Rent Payment Date referred to in paragraph 2 above (based on actual operating history) are [equal to] [greater than] the Required Coverage Ratio, and the Pro Form Coverage Ratios for each of the four semi-annual periods immediately succeeding such Rent Payment Date (based on Pro Forma projections) are [equal to] [greater than] the Required Coverage Ratio.

More Definitions of Required Coverage Ratio

Required Coverage Ratio means, with respect to the specified Classes of Notes and the related Interest Coverage Test or Principal Coverage Test, as the case may be, as of any Calculation Date, the applicable percentage indicated below opposite such specified Classes: Class Principal Coverage Test Interest Coverage Test Class A/B/C/D 145.36 % 145.36 % Class E/F/G 132.04 % 132.04 % Class H/J/K 121.88 % 121.88 %

Required Coverage Ratio. With respect to a specified Class of Secured Notes and the related Interest Coverage Test or Par Value Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class: Class Required Par Value Ratio A/B 121.58% C 114.70% D 108.94% E 104.70% Class Required Interest Coverage Ratio A/B 120.00% C 115.00% D 110.00% E 105.00%

Required Coverage Ratio means, with respect to a specified Class of Notes and the related Interest Coverage Test or Principal Coverage Test, as the case may be, as of any Calculation Date, the applicable percentage indicated below opposite such specified Class or Classes: Class Principal Coverage Test Interest Coverage Test Class C 137.00 % 135.00 % Class D 132.10 % 125.00 % Class E 119.40 % 118.00 % Class F 114.90 % 115.00 % Class G 110.00 % 110.00 % Requisite Noteholders means the Holders of 662/3% or more of the then Aggregate Outstanding Amount of (i) the Class A Notes, so long as any Class A Notes remain Outstanding, (ii) thereafter the Class B Notes so long as any Class B Notes remain Outstanding, (iii) thereafter the Class C Notes so long as any Class C Notes remain Outstanding, (iv) thereafter the Class D Notes so long as any Class D Notes remain Outstanding, (v) thereafter the Class E Notes so long as any Class E Notes remain Outstanding, (vi) thereafter the Class F Notes so long as any Class F Notes remain Outstanding and (vii) thereafter the Class G Notes so long as any Class G Notes remain Outstanding.

Required Coverage Ratio means two times the Coverage Ratio.

Required Coverage Ratio. With respect to a specified Class of Secured Notes and the related Interest Coverage Test or Par Value Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class: Class Required Par Value Ratio A/B 122.45% C 114.70% D 108.94% E 104.70% Class Required Interest Coverage Ratio A/B 120% C 115% D 110% E 105%

Required Coverage Ratio means: (i) 120%, unless one of the following clauses applies; (ii) 150%, if Company’s Adjusted EBITDA for the fiscal year ending March 31, 2015, equals or exceeds $<2,500,000> (as determined based on Company’s CPA-audited financial statements for such fiscal year); or (iii) no requirement (i.e., this Section 5.2(c) shall not apply), if Company’s Adjusted Net Income for any fiscal year equals or exceeds $-0- (as determined based on Company’s CPA-audited financial statements for such fiscal year); provided that (A) if Company satisfies both clauses (ii) and (iii) of this paragraph, this Section 5.2(c) shall not apply, and (B) any change in the Required Coverage Ratio shall begin to apply as of the first day of the first calendar month after receipt by Xxxxx Fargo of Company’s relevant CPA-audited financial statements.”

Required Coverage Ratio means a ratio of 1.50 to 1.00 except that for purposes of determining compliance by the Company with Section 5.7, for any period which includes the fourth fiscal quarter of 1996, Required Coverage Ratio shall mean a ratio of 1.75 to 1.00.