Senior Debt Coverage Ratio definition

Senior Debt Coverage Ratio means, as of any fiscal quarter end, the ratio of (a) Consolidated Senior Debt as of the end of such fiscal quarter, to (b) the sum of EBITDA for the fiscal quarter then ending and the preceding seven fiscal quarters (divided by two).

Senior Debt Coverage Ratio means, at any time from and including the 31st day (the "Relevant Day") after the last day of any fiscal quarter of the Company to but excluding the 31st day of the following fiscal quarter of the Company, the ratio of (a) Senior Debt as of the end of such fiscal quarter to (b) EBITDA Minus Capital Expenditures as of the end of such fiscal quarter.

Senior Debt Coverage Ratio means, for any fiscal period of the Company, the ratio of (a) Senior Funded Debt as of the last day of such fiscal period to (b) Annualized EBITDA.

Examples of Senior Debt Coverage Ratio in a sentence

• Looking into the future, by fiscal year 2020, the Senior Debt Coverage Ratio would deteriorate below bond covenants, there would a serious asset liability mismatch, and the funding gap becomes exacerbated.

• The financial covenants contained in Sections 8.3.1 (Total Funded Debt Coverage Ratio), 8.3.2 (Minimum EBITDA), 8.3.3 (Senior Debt Coverage Ratio), 8.3.4 (Minimum Interest Coverage) and for the quarters ended June 30, 2001 and September 30, 2001 and Section 8.3.5 (Inventory Coverage) for each month from the date hereof until September 30, 2001 are, subject to completion of the conditions set forth in Section 9 below, hereby waived.

• Maintain a Senior Debt Coverage Ratio not greater than (i) 3.50:1.00 with respect to each fiscal quarter ending on or after September 2 30, 2000 through and including the fiscal quarter ending December 31, 2000, (ii) 3.25:1.00 with respect to each fiscal quarter ending on or after March 31, 2001 through and including the fiscal quarter ending September 30, 2001, and (iii) 3.00:1.00 with respect to each fiscal quarter ending on or after December 31, 2001.

• The Company shall not -------------------------- permit the Senior Debt Coverage Ratio as of the last day of (1) the fiscal quarters ending March 31, 1997 and June 30, 1997 to be greater than 2.0 to 1.0 and (2) each fiscal quarter ending thereafter to be greater than 1.75 to 1.0.

• During field survey it was found that fourteen (13.33%) MPCS are used as grannery and additional seven (6.67%) of them are in use as storage area for construction material site (Photo 4.17, Photo 4.18).

More Definitions of Senior Debt Coverage Ratio

Senior Debt Coverage Ratio with respect to any period, the ratio of (a) the Obligors' Senior Debt as of the last day of such period, to (b) the Obligors' EBITDA for the 12 month period ended as of the end of such period (except that in the case of periods ended on or prior to June 30, 1999, the calculation shall be made using (i) CAPFI's, AFTI's, ATPG's, ATPM's EBITDA for the applicable 12 month period irrespective of whether they were Subsidiaries of QTI during the relevant period, and (ii) with respect to the AFCOM Acquisition and Olympic Acquisition, the EBIDTA of AFCOM and Olympic for the applicable 12 month period notwithstanding the purchase by QDLI of the assets of AFCOM and Olympic during such period), all as determined on a Consolidated basis in accordance with GAAP. For purposes of this definition, "EBITDA" shall be calculated after giving effect to adjustments to eliminate expense items that would not have been incurred, in each case, if each Permitted Acquisition consummated during the applicable period had been accomplished on the first day of the applicable period; such eliminations and inclusions to be mutually agreed upon by the Obligors, Administrative Agent, and Collateral Agent. Solvent - as to any Person, such Person (a) owns Property whose fair saleable value is greater than the amount required to pay all of such Person's Indebtedness (including contingent debts), (b) is able to pay all of its Indebtedness as such Indebtedness matures, and (c) has capital sufficient to carry on its business and transactions and all business and transactions in which it is about to engage. Standby Letter of Credit - any letter of credit issued by Administrative Agent or any of Administrative Agent's Affiliates for the account of Borrower other than a Commercial Letter of Credit. Statutory Reserves - a fraction (expressed as a decimal) the numerator of which is the number 1, and the denominator of which is the number 1, minus the aggregate of the maximum reserve percentages (including, without limitation, any marginal, special, emergency, or supplemental reserves), expressed as a decimal, established by the Board of Governors of the Federal Reserve System and any other banking authority to which Bank or any Lender is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board of Governors of the Federal Reserve System or any successor thereto). Such reserve percentages shall include, without limitation, those imposed under such

Senior Debt Coverage Ratio of any Person for any period, the ratio of (a) Senior Debt of such Person for such period, to (b) Consolidated EBITDA of such Person for such period.

Senior Debt Coverage Ratio means, as of any date of determination with respect to the Company, the ratio of (a) Senior Debt as of such date of determination to (b) Annualized EBITDA measured as at the Fiscal Quarter ending on such date of determination, or if such date of determination is not the last day of any Fiscal Quarter, then ending immediately prior to such date of determination.

Senior Debt Coverage Ratio is hereby deleted in its entirety and the following is substituted therefor:

Senior Debt Coverage Ratio with respect to any period, the ratio of (a) Borrower's Senior Debt as of the last day of such period, to (b) Borrower's EBITDA for the 12 month period ended as of the end of such period (except that in the case of periods ended on or prior to June 30, 1999, the calculation shall be made using FII's and FTI's EBITDA for the applicable 12 month period irrespective of whether they were Subsidiaries of QTI during the relevant period), all as determined on a Consolidated basis in accordance with GAAP.. For purposes of this definition, "EBITDA" shall be calculated after giving effect to adjustments to eliminate expense items that would not have been incurred and include income items that would have been recognized, in each case, if each Permitted Acquisition consummated during the applicable period had been accomplished on the first day of the applicable period; such eliminations and inclusions to be mutually agreed upon by Borrower, Administrative Agent, and Collateral Agent.

Senior Debt Coverage Ratio means, for the applicable period, the ratio of Borrower's Operating, Cash Flow - Actual to Borrower's Senior Contractual Debt Service, determined on a consolidated basis.

Senior Debt Coverage Ratio in its entirety as follows: the following new Section immediately after Section 7.4: