Common use of Cash Interest Coverage Ratio Clause in Contracts

Cash Interest Coverage Ratio. Borrower shall not permit the ratio of (i) Consolidated EBITDA for any four consecutive complete fiscal quarters then last ended after the date hereof to (ii) Consolidated Cash Interest Expense of Borrower for such period to be less than 3.00:1.00. In connection with any Credit Event, such ratio shall be calculated to give PRO FORMA effect to the Loans or Letters of Credit to be made and the application of the proceeds therefrom as if made and applied on the first day of the period for which such ratio is being calculated. 8.10

Appears in 1 contract

Samples: Credit Agreement (Global Marine Inc)

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Cash Interest Coverage Ratio. Borrower shall not permit the ratio of (ia) Consolidated EBITDA for any four consecutive complete fiscal quarters then last ended after the date hereof to (iib) Consolidated Cash Interest Expense of Borrower for such period period, commencing with the fiscal quarter ending March 31, 2000, to be less than 3.00:1.00. In connection with any Credit Eventthe following ratio for the periods indicated: THROUGH END OF JANUARY 1, such ratio shall be calculated to give PRO FORMA effect to the Loans or Letters of Credit to be made and the application of the proceeds therefrom as if made and applied on the first day of the period for which such ratio is being calculated. 8.102001- ALL SUBSEQUENT CALENDAR YEAR 2000 DECEMBER 31, 2001 PERIODS

Appears in 1 contract

Samples: Credit Agreement (Global Marine Inc)

Cash Interest Coverage Ratio. Borrower shall not permit the ratio of (ia) Consolidated EBITDA for any four consecutive complete fiscal quarters then last ended after the date hereof to (iib) Consolidated Cash Interest Expense of Borrower for such period period, commencing with the fiscal quarter ending June 30, 1999, to be less than 3.00:1.00. In connection with any Credit Eventthe following ratio for the periods indicated: Through End of January 1, such ratio shall be calculated to give PRO FORMA effect to the Loans or Letters of Credit to be made and the application of the proceeds therefrom as if made and applied on the first day of the period for which such ratio is being calculated. 8.102000 January 1, 2001 All Subsequent Calender Year 1999 December 31, 2000 December 31, 2001 Periods

Appears in 1 contract

Samples: Credit Agreement (Global Marine Inc)

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Cash Interest Coverage Ratio. Borrower shall not permit the ratio of (ia) Consolidated EBITDA for any four consecutive complete fiscal quarters then last ended after the date hereof to (iib) Consolidated Cash Interest Expense of Borrower for such period period, commencing with the fiscal quarter ending June 30, 1999, to be less than 3.00:1.00. In connection with any Credit Eventthe following ratio for the periods indicated: Through End of January 1, such ratio shall be calculated to give PRO FORMA effect to the Loans or Letters of Credit to be made and the application of the proceeds therefrom as if made and applied on the first day of the period for which such ratio is being calculated. 8.10January 1, All CALENDAR YEAR 2000 - 2000- Subsequent 1999 DECEMBER 31, DECEMBER 31, PERIODS

Appears in 1 contract

Samples: Credit Agreement (Global Marine Inc)

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