Reserve Coverage Ratio definition

Reserve Coverage Ratio means, on any date of determination, the ratio of (a) the sum of (i) PV-10 Value on such date and (ii) Probable Reserve Value on such date to (b) Total Net Debt on such date; provided that Total Net Debt for this purpose shall exclude any Permitted Subordinated Indebtedness incurred pursuant to Section 6.01(h).
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Reserve Coverage Ratio means, as of the last day of any Reference Period, the ratio of (a) the Reserve Value as of such date to (b) the annual reasonably forecasted sales volume (in tons) of Probable Ore Reserves and Proved Ore Reserves for the subsequent year as stated in the annual budget delivered in accordance with Section 8.01(p).
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Reserve Coverage Ratio means, or any date of determination, the ratio of:
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Examples of Reserve Coverage Ratio in a sentence

  • Following the end of the second fiscal quarter following Phase II Completion, maintain at the end of each fiscal quarter a Proven Reserve Coverage Ratio of not less than 2.75:1.00.

  • The Term Loan B Facility will contain the following financial covenant, calculated on the “as of” date of each semi-annual reserve report: Proved Developed Producing Reserve Coverage Ratio: present value of proved developed producing reserves to consolidated total debt may not be less than 1.0 to 1.0 as of each January 1 and July 1.

  • Permit (i) the Reserve Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 3.00 to 1.00 or (ii) the PDP Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 0.50 to 1.00.

  • The Corporation shall not, and shall not permit any of its Subsidiaries to, Incur any Indebtedness if, after giving pro forma effect to the Incurrence of such Indebtedness, the Proved Reserve Coverage Ratio would be less than 2.5 to 1.

  • Permit the Adjusted Reserve Coverage Ratio of the Borrower on a Consolidated basis to be less than 70.00% as of the last day of any fiscal quarter of the Borrower.

  • The Borrower shall maintain a Reserve Coverage Ratio as of the last day of each Reference Period of not less than the following: (i) for the fiscal year ending December 31, 2017, 9.0:1.0; (ii) for the fiscal year ending December 31, 2018, 8.0:1.0; and (iii) for the fiscal year ending December 31, 2019, 7.0:1.0.

  • Borrower shall not permit the Loss Reserve Coverage Ratio for the Subsidiaries, on a consolidated basis, to drop below 105% at the end of any quarter so long as any of the Obligations remain outstanding.

  • Following the end of the second fiscal quarter following Phase II Completion, maintain at the end of each fiscal quarter a First Lien Proven Reserve Coverage Ratio of not less than 4.00:1.00.

  • The corporation will not consummate or permit any subsidiary to consummate any transaction involving the corporation which would cause the Reserve Coverage Ratio to fall below 5.0 unless, immediately following consummation of such transaction, the corporation will have sufficient legally available funds immediately following consummation of such transaction to complete any Reserve Coverage Offer required as a result thereof.

  • Permit (i) the Reserve Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 2.50 to 1.00 or (ii) the PDP Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 0.40 to 1.00.


More Definitions of Reserve Coverage Ratio

Reserve Coverage Ratio is defined as the ratio of (1) Reserve Value, divided by (2) the annual reasonably forecasted sales volume (in tons) of Probable Ore Reserves (as defined in Section 30 of the JORC Code) and Proved Ore Reserves (as defined in Section 31 of the JORC Code) for the subsequent year as stated in the Annual Budget (as defined below).
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Related to Reserve Coverage Ratio

  • Interest Coverage Ratio means, as at any date, the ratio of (a) EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) Interest Expense for such period.

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the Value of total assets of the Borrower and its Subsidiaries, less all liabilities (other than Indebtedness, including Indebtedness hereunder) of the Borrower and its Subsidiaries, to (b) the aggregate amount of Indebtedness of the Borrower and its Subsidiaries.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect (in accordance with Regulation S-X under the Securities Act) to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Consolidated Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Fixed Charges, in each case, for the most recently completed four (4) fiscal quarters.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four fiscal quarters, provided, however, that:

  • Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.

  • Fixed Charges Coverage Ratio means, at any time, the ratio of (a) Consolidated Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending as of the most recent fiscal quarter ended prior to such time to (b) Consolidated Fixed Charges for such period.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Senior Leverage Ratio means the ratio of (a) Consolidated Senior Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.