Basic Fixed Charge Coverage Ratio Clause Samples

Basic Fixed Charge Coverage Ratio. With respect to the Parent, maintain on a consolidated basis a Basic Fixed Charge Coverage Ratio of at least 1.25 to 1. As used herein, "Basic Fixed Charge Coverage Ratio" means the ratio of (a) the sum of EBITDA, minus income tax, minus dividends, withdrawals, and other distributions to (b) the sum of interest expense and the current portion of long term debt and the current portion of capitalized lease obligations. Interest and principal payments include all cash payments, including but not limited to, those related to senior bank debt, mezzanine debt, seller notes, and realized earn-out payments. As used herein, "EBITDA" has the meaning given in Section 9.4(c) above. This ratio will be calculated at the end of each reporting period for which the Bank requires financial statements, using the results of the twelve-month period ending with that reporting period. The current portion of long-term liabilities will be measured as of the date twelve (12) months prior to the current financial statement.

Basic Fixed Charge Coverage Ratio. Consolidated EBITDA

Basic Fixed Charge Coverage Ratio. Maintain a Basic Fixed Charge Coverage Ratio of at least 1.50:1.00. This ratio will be calculated as of the last day of each fiscal quarter for which this Agreement requires Borrowers to deliver financial statements, using the results of the twelve-month period ending on the last day of such fiscal quarter. The current portion of long-term liabilities will be measured as of the date twelve (12) months prior to the current financial statement.”

Basic Fixed Charge Coverage Ratio. To maintain on a consolidated basis a Basic Fixed Charge Coverage Ratio of at least 1.25:1.0.

Basic Fixed Charge Coverage Ratio. Section 9.5 of the Agreement is deleted in its entirety and replaced with the following:

Basic Fixed Charge Coverage Ratio. To maintain on a consolidated basis a Basic Fixed Charge Coverage Ratio of at least 1.25:1.0. “Basic Fixed Charge Coverage Ratio” means the ratio of (a) EBITDA less Maintenance Capital Expenditures to (b) the sum of interest expense, the current portion of long term debt (not including the Line of Credit), the current portion of Subordinated Liabilities (as defined in Section 7.3), the

Basic Fixed Charge Coverage Ratio. AMC Wings, Inc. to maintain on a consolidated basis a minimum Post-Distribution Fixed Charge Coverage Ratio of 1.20:1.00. and “Post-Distribution Fixed Charge Coverage Ratio” means the sum of net income after tax, non-cash charges, interest expense and third party rent expense, less capital gains or plus capital losses, minus distributions and dividends to shareholders and loans or advances to affiliates, divided by the sum of scheduled principal payments on long term debt and capital leases, interest expense and third party rent expense. This ratio will be calculated at the end of each reporting period for which the Bank requires financial statements from Borrower, using the results of the twelve-month period ending with that reporting period. The calculation of scheduled principal payments on long term debt and capital leases will be based on the 12-month period immediately following the reporting period for which the Bank requires financial statements. Covenant to be measured on a combined basis, with AMC Group Inc., and Diversified Restaurant Holdings, Inc.

Basic Fixed Charge Coverage Ratio. Maintain on a consolidated basis a Basic Fixed Charge Coverage Ratio of at least 2.0:1.0 tested on an annual basis as of the end of each fiscal year. “Basic Fixed Charge Coverage Ratio” means the ratio of (a) EBITDA minus the sum of (i) any dividends or other distributions (with the exception of the special cash dividend of $0.50 per share of common stock to be paid at the end of the second quarter of fiscal year 2011), (ii) a reserve for maintenance capital expenditures in the amount of $6,000,000.00, and (iii) tax expense to (b) all required principal and interest payments with respect to Indebtedness (including but not limited to all payments with respect to capitalized lease obligations of Borrower.) “EBITDA” means for any period of determination, the net income of Borrower before deductions for income taxes, interest expense, depreciation and amortization, all as determined in accordance with GAAP. “Indebtedness” means all interest-bearing obligations, including those represented by bonds, debentures, or other debt securities, except principal reductions on the Revolving Note.

Basic Fixed Charge Coverage Ratio. Section 8.5 of the Loan Agreement is amended and restated in its entirety to read as follows: