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).
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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.
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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.
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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.

  • Maintain a Senior Debt Coverage Ratio not greater than 4.0:1.0 with respect to each fiscal quarter ending on or after December 31, 1998.

  • 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.

  • Borrower shall not suffer or permit, at any time, for the most recently completed four fiscal quarters of Borrower, the Senior Debt Coverage Ratio to exceed (i) for any date prior to June 30, 2002, the ratio as determined in accordance with this Section 5.7(b) as in effect prior to September 30, 2002, (ii) 3.20 to 1.00 on June 30, 2002 through December 30, 2002, (iii) 2.85 to 1.00 on December 31, 2002 through September 29, 2003, and (iv) 2.15 to 1.00 on September 30, 2003 and thereafter.

  • Such petition shall be in written form, stating the action in question, signed by ten (10) members in good standing and be submitted to the President or Secretary not less than seven (7) days prior to any stated membership meeting.

  • Maintain a Senior Debt Coverage Ratio not greater than 3.75:1.00 with respect to each fiscal quarter ending on or after June 30, 1999 through and including the fiscal quarter ending September 30, 2001, and, with respect to each fiscal quarter ending on or after December 31, 2001, maintain a Senior Debt Coverage Ratio not greater than 3.50:1.00.

  • 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).

  • 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.

  • 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.

  • Testing of the Senior Debt Coverage Ratio will resume for the test period ending December 31, 2010 and will continue thereafter in accordance with the LSA.


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
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Senior Debt Coverage Ratio is hereby deleted in its entirety and the following is substituted therefor:
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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.
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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.
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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.
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Senior Debt Coverage Ratio in its entirety as follows: the following new Section immediately after Section 7.4:
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Related to Senior Debt Coverage Ratio

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

  • 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.

  • 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.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person at any date, the ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries as of such date (determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. In the event that the Company or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Company may elect, pursuant to an Officer’s Certificate delivered to the Trustee, that all or any portion of the commitment under any Secured Indebtedness as being Incurred at the time such commitment is entered into and any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be the creation or Incurrence of a Lien at such subsequent time. For purposes of making the computation referred to above, Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of the Restricted Subsidiaries has either determined to make or made after the Issue Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to reflect (1) net operating expense reductions and other net operating improvements or synergies reasonably expected to result from the applicable pro forma event (including, to the extent applicable, from the Transactions), and (2) all adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 5 to the “Summary historical and pro forma combined financial data” under “Summary” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period.

  • Senior Debt to EBITDA Ratio means, for any Four Quarter Period, the ratio of Senior Debt as at the last day of the applicable Four Quarter Period to EBITDA in respect of such Four Quarter Period.

  • 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.

  • 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.

  • 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.

  • First Lien Leverage Ratio means, on any date, the ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

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

  • 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.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • 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.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • 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.

  • Senior Secured Leverage Ratio means, on any date, the ratio of (a) Total Senior Secured Net Debt as of such date to (b) 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; provided, that EBITDA shall be determined for the relevant Test Period on a Pro Forma Basis.

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

  • Consolidated Senior Leverage Ratio means, for any date of determination (i) Consolidated Funded Indebtedness on such date of determination (excluding the Unsecured Note Indebtedness) to (ii) Consolidated Adjusted EBITDA for the applicable period of four consecutive fiscal quarters.

  • 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 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.

  • Consolidated Secured Leverage Ratio means, as of any date of determination, the ratio of (x) the sum of (a) Consolidated Total Indebtedness secured by a Lien as of such date and (b) the Reserved Indebtedness Amount secured by a Lien as of such date to (y) LTM EBITDA.

  • 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.

  • 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

  • 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.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.