Funded Debt Ratio means, as of the end of a quarter, the ratio of (A) Borrower’s consolidated obligations for borrowed money and obligations evidenced by bonds, debentures, notes, bills or other similar instruments to (B)

Funded Debt Ratio means, at any time, the ratio of (a) consolidated Funded Debt of the Company and its Subsidiaries then outstanding to (b) consolidated EBITDA of the Company and its Subsidiaries for the period of four consecutive fiscal quarters of the Company ending on the most recently ended Test End Date, or in the case of calculations as of a Test End Date, for the period of four consecutive fiscal quarters then ending, plus the Applicable Add-Back for such Test End Date.

Funded Debt Ratio means the ratio (calculated quarterly at the end of each fiscal quarter) of (i) the consolidated Funded Debt of the Borrower (excluding Funded Debt of Unrestricted Subsidiaries) for the four fiscal quarters ending on such date to (ii) the consolidated EBITDA of the Borrower (excluding EBITDA attributable to Unrestricted Subsidiaries) for such four fiscal quarters.

Examples of Funded Debt Ratio in a sentence

The Credit Agreement contains two key financial covenants; namely, borrowers are required to maintain a Consolidated Funded Debt Ratio of no more than 3.25-to-1 and a Consolidated Fixed Charge Covenant Ratio of at least 1.25-to-1.
Permit the Total Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than 0.65 to1.00.
Under the Credit Agreement, revolving loans bear interest at a variable rate based, at borrower’s election with proper notice, on either (i) LIBOR plus the “Applicable Rate” which is based upon the Consolidated Funded Debt Ratio (“Eurocurrency Rate Loan”) or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month LIBOR Rate plus 1.00%, plus, in the case of (x), (y) or (z) the Applicable Rate (“Alternate Base Rate Loan”).
Section 8.2 of the Credit Agreement is amended and replaced in its entirety to read as follows:8.2 FUNDED DEBT RATIO Borrower shall maintain as of the last day of each fiscal quarter a Funded Debt Ratio (as defined in Schedule II) of not greater than 3.00:1.00.
Under the Second Amendment, the Consolidated Funded Debt Ratio was increased for the second, third and fourth quarters of 2015 (to 3.5-to-1 from 3.25-to-1) and a fixed charge covenant, requiring, in effect, that the ratio of consolidated current assets to consolidated current liabilities exceed 1.2-to-1 for the duration of the term of the credit facility, was added.

More Definitions of Funded Debt Ratio

Funded Debt Ratio means, as of any date, the ratio of (a) Funded Debt as of such date to (b) EBITDA, as calculated for the four consecutive fiscal quarters of the Company most recently ended.

Funded Debt Ratio means the ratio of (a) Funded Debt to (b) EBITDA.

Funded Debt Ratio means, at any date of calculation, the ratio of Total Funded Debt to Tangible Net Worth, as determined in accordance with GAAP.

Funded Debt Ratio means, as at any date of determination, the ratio of (a) the aggregate principal amount of the Loans outstanding for Acquisub under the Facility plus the undefeased portion of any Indebtedness of MILPI to (b) the Consolidated Tangible Net Worth of MILPI.

Funded Debt Ratio means, with respect to any fiscal quarter, the ratio of (a) the average daily outstanding Advances over such fiscal quarter under the Second Amended and Restated Credit and Security Agreement dated June 29, 2005 by and among PC Connection and its subsidiaries, inc. and Citizens Bank of Massachusetts and the other parties thereto to (b) the rolling four fiscal quarter Consolidated EBITDA (including such fiscal quarter) of Customers.

Funded Debt Ratio means, as measured separately for each Borrower as at any date of determination, the ratio of (a) the Consolidated Funded Debt of such Borrower to (b) the sum of (i) the aggregate net fair market value of the Equipment owned of record and beneficially by such Borrower or any Marine Subsidiary of such Borrower or owned of record by an Owner Trustee for the beneficial interest of such Borrower or any Marine Subsidiary of such Borrower plus (ii) the unrestricted cash available for the purchase of Eligible Inventory for such Borrower (provided, that for the purpose of computing the Funded Debt Ratio, in the event that any Borrower or a Marine Subsidiary of such Borrower shall own less than one hundred percent (100.0%) of the record or beneficial interests in any item of Equipment, with one or more of the other Equipment Growth Funds owning of record or beneficially the remaining interests, there shall be included any such Borrower's or such Marine Subsidiary's, as the case may be, ratable interest in such item of Equipment).

Funded Debt Ratio means, at any date, the ratio of (i) Applicable Indebtedness at such date to (ii) Applicable EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date.