Senior Funded Indebtedness to EBITDA Ratio definition

Senior Funded Indebtedness to EBITDA Ratio means, at any date, the ratio of (a) Senior Funded Indebtedness for such date to (b) Adjusted EBITDA for the period of four fiscal quarters ended on or most recently prior to such date.

Senior Funded Indebtedness to EBITDA Ratio means the ratio of (a) consolidated Senior Funded Indebtedness (including, without limitation, Earn Out Payables, Deferred Debt Payables and Letter of Credit Obligations), to (b) consolidated EBITDA plus the Management Fee Addback.

Senior Funded Indebtedness to EBITDA Ratio shall have the meaning ascribed to said term in Section 6.17 hereof.

Examples of Senior Funded Indebtedness to EBITDA Ratio in a sentence

• The Company will not permit the Senior Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter to be greater than 2.50 to 1.00 as of the fiscal quarter ending June 30, 2018 and on each fiscal quarter ending thereafter.

• Borrower and its direct and indirect Subsidiaries shall maintain a Senior Funded Indebtedness to EBITDA Ratio of not more than 3.50 to 1.00 calculated as of the end of each Fiscal Year and as of the end of each Fiscal Quarter for the trailing twelve (12) month period ending as of the end of each such Fiscal Quarter.

• Commencing with respect to the quarter beginning on June 30, 2013 and ending on September 29, 2013, Borrower shall be required to maintain a Senior Funded Indebtedness to EBITDA Ratio which is less than or equal to 4.25 to 1.00.

• Permit the Senior Funded Indebtedness to EBITDA Ratio as of the end of any Fiscal Quarter to be greater than 2.50 to 1.00.

• In the event the Senior Funded Indebtedness to EBITDA Ratio is determined by Lender to be out of compliance during any test period, Borrower shall be required to make an immediate principal reduction payment in an amount sufficient to bring the Loan into compliance with this financial covenant.

More Definitions of Senior Funded Indebtedness to EBITDA Ratio

Senior Funded Indebtedness to EBITDA Ratio means the ratio of (i) Indebtedness (a) in respect of money borrowed or (b) evidenced by a note, debenture or other like written obligation to pay money (excluding Subordinated Debt) or (c) in respect of Capital Lease Obligations or (d) in respect of obligations or liabilities under conditional sales or other title retention agreements to (ii) EBITDA, both for the period of measure. Notwithstanding the foregoing, for the Fiscal Quarters ending September 30, 2013, December 31, 2013, March 31, 2014 and June 30, 2014, the Senior Funded Indebtedness to EBITDA Ratio shall be calculated by using in place of EBITDA in the above definition of Senior Funded Indebtedness to EBITDA Ratio, the combined EBITDA of Borrower and HPI Direct EBITDA, as follows:

Senior Funded Indebtedness to EBITDA Ratio means, for the Borrower and its Subsidiaries on a consolidated basis, calculated for the most recent twelve (12) month period after giving Pro Forma Effect to any Asset Acquisition made during such period, the ratio of Adjusted Consolidated Senior Funded Indebtedness to EBITDA.

Senior Funded Indebtedness to EBITDA Ratio means the ratio of (a) consolidated Senior Funded Indebtedness, to (b) consolidated EBITDA.

Senior Funded Indebtedness to EBITDA Ratio means, at any date, the ratio of (a) Senior Funded Indebtedness for such date to (b) EBITDA for the period of four fiscal quarters ended on or most recently prior to such date; provided, however, for purposes of calculating EBITDA above, the EBITDA of Xxxxxx Air Enterprises shall be deemed to be (i) the actual EBITDA of Xxxxxx Air Enterprises for the one month period ending June 30, 2017 plus $736,887, (ii) the actual EBITDA of Xxxxxx Air Enterprises for the fourth month period ending September 30, 2017 plus $586,394, (iii) the actual EBITDA of Xxxxxx Air Enterprises for the seventh month period ending December 31, 2017 plus $761,155, and (iv) the actual EBITDA of Xxxxxx Air Enterprises for the ten month period ending March 31, 2018 plus $286,739.

Senior Funded Indebtedness to EBITDA Ratio means, as calculated for the respective Reference Period and computed on a consolidated basis (if applicable), a ratio calculated as follows: (a) indebtedness (excluding subordinated indebtedness); divided by (b) on a consolidated basis, EBITDA excluding all distributions, dividends and non-cash gains or losses as determined in accordance with GAAP. Notwithstanding the foregoing, with respect to the calculations of said ratio for the Reference Periods ending June 30, 2011 and September 30, 2011, respectively, the then value of EBITDA shall be first multiplied by four (4). The Senior Funded Indebtedness to EBITDA Ratio is to be measured quarterly.

Senior Funded Indebtedness to EBITDA Ratio added to the Financing Agreement by paragraph 4(e) of the First Amendment was intended to be designated "Section 5.1.19" and not "Section 5.1.18" as indicated in the First Amendment, and that (ii) the Financing Agreement is hereby amended by designating the "Senior Funded Indebtedness to EBITDA Ratio" section to be Section 5.1.19.

Senior Funded Indebtedness to EBITDA Ratio means, as of a certain date, on a consolidated basis of Borrower and all Affiliates, the ratio of: (a) all of the following as of such date: (i) the Indebtedness, (ii) all indebtedness evidenced by a note, debenture (excluding subordinated) or other like written obligations to pay money whether in favor of Lender or otherwise excluding intercompany indebtedness, or (iii) the capitalized amount with respect to the renting or leasing of property under leases or leases arrangements which under generally accepted accounting principles are required to be capitalized, or (iv) the capitalized amount with respect to obligations under conditional sales or other title retention agreements, which under generally accepted accounting principles are required to be capitalized, to: (b) Operating Cash Flow for the twelve (12) month period ended on such date.