Consolidated Indebtedness to Consolidated EBITDA. Permit the ratio of Consolidated Indebtedness to Consolidated EBITDA of Holdings for the four consecutive fiscal quarters of Holdings most recently ended ("Consolidated Indebtedness Ratio") to be greater than 4.0 to 1.0; provided that for purposes of calculating the numerator of the foregoing ratio, Consolidated Indebtedness of Holdings shall exclude seventy percent (70%) of the Indebtedness in respect of the TIDES Debentures.
Consolidated Indebtedness to Consolidated EBITDA. The Borrower will not permit the ratio of (i) Consolidated Indebtedness at any time to (ii) Consolidated EBITDA for the Test Period then most recently ended, to be greater than 3.0:1.0.
Consolidated Indebtedness to Consolidated EBITDA. Holdings will cause the Borrower not to permit, and the Borrower will not permit, the ratio of Consolidated Indebtedness as at the end of any fiscal quarter ended on a date set forth below to Consolidated EBITDA for the period (taken together as one accounting period) of four consecutive fiscal quarters ended on such date, to be greater than the ratio set forth opposite such date below: Fiscal Quarter Ended Ratio -------------------- ----- March 31, 2004 16.00:1.00 June 30, 2004 10.50:1.00 September 30, 2004 8.75:1.00 December 31, 2004 March 31, 2005-September 7.25:1.00 30, 2006 December 31, 2006 and 4.25:1.00 each fiscal quarter thereafter 3:00:1.00
Consolidated Indebtedness to Consolidated EBITDA. The Company will not permit, at the end of any fiscal quarter, the ratio of Consolidated Indebtedness to Consolidated EBITDA (Consolidated EBITDA to be calculated as at the end of each fiscal quarter for each Rolling Period then ended) to exceed 3.25 to 1.00.
Consolidated Indebtedness to Consolidated EBITDA. Holdings shall ------------------------------------------------ not permit the ratio of Consolidated Indebtedness as of the last day of any fiscal quarter ended on a date set forth below to Consolidated EBITDA for any period of four consecutive fiscal quarters (or, if shorter, the period beginning on the Initial Funding Date and ending on the last day of a fiscal quarter of Holdings ended after the Initial Funding Date) then ended, in each case taken as one accounting period, ending on the last day of the period set forth below to be greater than the ratio set forth opposite such period below: Fiscal Quarter Ended Ratio ----------------- ----- December 31, 1997 5.00:1.0 March 31, 1998 5.00:1.0 June 30, 1998 5.00:1.0 September 30, 1998 5.00:1.0 December 31, 1998 5.00:1.0 March 31, 1999 4.50:1.0 June 30, 1999 4.50:1.0 September 30, 1999 4.50:1.0 December 31, 1999 4.50:1.0 March 31, 2000 4.00:1.0 June 30, 2000 4.00:1.0 September 30, 2000 4.00:1.0 December 31, 2000 4.00:1.0 March 31, 2001 3.75:1.0 June 30, 2001 3.75:1.0 September 30, 2001 3.75:1.0 December 31, 2001 3.75:1.0 March 31, 2002 3.00:1.0 June 30, 2002 3.00:1.0 September 30, 2002 2.50:1.0 December 31, 2002 2.50:1.0 March 31, 2003 2.00:1.0 June 30, 2003 2.00:1.0 September 30, 2003 2.00:1.0 December 31, 2003 2.00:1.0 March 31, 2004 2.00:1.0 June 30, 2004 2.00:1.0
Consolidated Indebtedness to Consolidated EBITDA. The Borrower will not permit the ratio of Consolidated Indebtedness as at the end of any fiscal quarter ended on a date set forth below to Consolidated EBITDA for any fiscal quarter ending on a date set forth below to be greater than the ratio set forth opposite such date below: Fiscal Quarter Ended Ratio -------------------- ----- September 30, 1999 2.95:1.00 December 31, 1999 2.95:1.00 March 31, 2000 2.95:1.00 June 30, 2000 2.95:1.00 September 30, 2000 2.95:1.00 December 31, 2000 2.90:1.00 March 31, 2001 2.85:1.00 June 30, 2001 2.75:1.00 September 30, 2001 2.60:1.00 December 31, 2001 2.45:1.00 March 31, 2002 2.30:1.00 June 30, 2002 2.10:1.00 September 30, 2002 1.90:1.00 December 31, 2002 1.70:1.00 March 31, 2003 1.50:1.00 June 30, 2003 1.30:1.00 September 30, 2003 1.05:1.00 December 31, 2003 0.95:1.00 March 31, 2004 0.85:1.00 June 30, 2004 0.70:1.00 September 30, 2004 0.60:1.00 December 31, 2004 0.60:1.00 March 31, 2005 0.60:1.00 June 30, 2005 0.60:1.00 -67- September 30, 2005 0.60:1.00
Consolidated Indebtedness to Consolidated EBITDA. The Parent will not permit the ratio of (a) Consolidated Indebtedness as of any day during any period set forth below to (b) 400% of Consolidated EBITDA for the fiscal quarter of the Parent ending on such day (or, if such day is not the last day of a fiscal quarter, ending on the last day of the most recently ended fiscal quarter) to be greater than the ratio set forth below opposite such period: Period Ratio ------ ----- On or after January 1, 2002, 9.6 to 1.0 but prior to January 1, 2003 On or after January 1, 2003, 4.9 to 1.0 but prior to January 1, 2004 On or after January 1, 2004, 3.4 to 1.0 but prior to January 1, 2005 On or after January 1, 2005, 2.5 to 1.0 but prior to January 1, 2006 On or after January 1, 2006 2.0 to 1.0
Consolidated Indebtedness to Consolidated EBITDA. The Borrower will not permit the ratio of (i) Consolidated Indebtedness on the last day of any fiscal quarter set forth below to (ii) Consolidated EBITDA for the period of four consecutive fiscal quarters ending on the last day of such fiscal quarter, taken as one accounting period, to be greater than the amount set forth below opposite such fiscal quarter: Fiscal Quarter Ended Ratio -------------- ------- December 31, 1994 3.30:1 March 31, 1995 3.10:1 June 30, 1995 3.50:1 September 30, 1995 3.50:1 December 31, 1995 3.50:1 March 31, 1996 3.50:1 June 30, 1996 2.90:1 September 30, 1996 2.65:1 December, 31, 1996 2.45:1 March 31, 1997 2.15:1 June 30, 1997 1.85:1 September 30, 1996 1.55:1 December 31, 1996 1.25:1 March 31, 1998 1.00:1 and thereafter
Consolidated Indebtedness to Consolidated EBITDA. The Company will not permit, as of the end of any fiscal quarter, the ratio of Consolidated Indebtedness to Consolidated EBITDA (Consolidated EBITDA to be calculated as at the end of each fiscal quarter for the four consecutive fiscal quarters then ended, and such ratio shall hereinafter be referred to as the “Indebtedness Ratio”) to exceed 3.25 to 1.00; provided, however, that the Indebtedness Ratio may exceed 3.25 to 1.00 as of the last day of any fiscal quarter during a Transition Period if such Indebtedness Ratio exceeded 3.25 to 1.00 as a result of the Company or any Restricted Subsidiary creating, assuming, incurring, guaranteeing or otherwise becoming liable in respect of Acquisition Indebtedness, so long as (i) the Indebtedness Ratio as of such date during any Transition Period shall not exceed 3.50 to 1.00, and (ii) the Company shall have paid the Additional Interest as provided in Section 1.2(b).
Consolidated Indebtedness to Consolidated EBITDA. Permit the ratio of Consolidated Indebtedness of Hanover to Consolidated EBITDA of Hanover for the four consecutive fiscal quarters of Hanover ending with any fiscal quarter set forth below (the “Consolidated Leverage Ratio”) to be greater than the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ending Ratio December 31, 2005 through September 30, 2007 6.00 to 1.0 December 31, 2007 through September 30, 2008 5.50 to 1.0 December 31, 2008 and thereafter 5.00 to 1.0
