Free Cash Flow Coverage Sample Clauses

Free Cash Flow Coverage. The ratio of Free Cash Flow of Borrower to Mandatory Debt Retirement and Interest Payments of Borrower determined over the prior four (4) quarters shall not fall below 1.5 to 1, at any time; provided, however, that Free Cash Flow shall be adjusted to reflect acquisitions and disposition of assets over the prior four (4) quarters.
Sample 1Sample 2
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Free Cash Flow Coverage. Permit Free Cash Flow divided by Debt Service as of the last day of each fiscal quarter, commencing on or after March 31, 2008, for any trailing four quarter period to be less than the ratio set forth below for the applicable period: Each fiscal quarter ending: Ratio 3/31/08 to 12/31/08 1.2:1.00 3/31/09 and thereafter 1.5:1.00
Sample 1
Free Cash Flow Coverage. The Borrower will not, at any time on or after December 31, 2007, permit the ratio of Free Cash Flow to Debt Service, as of the last day of each fiscal quarter for any trailing four quarter period, to be less than the ratio set forth below for the applicable period: Each fiscal quarter ending: Ratio 12/31/07 until 6/30/08 1.00:1.00 09/30/08 to 6/30/09 1.20:1:00 09/30/09 and thereafter 1.50:1.00 Provided, that for the purposes of determining the ratio described above for the fiscal quarters ending 12/31/07, 3/31/08 and 6/30/08, Free Cash Flow and Debt Service for the relevant period shall be deemed to equal Free Cash Flow or Debt Service for such fiscal quarter (and, in the case of the latter two such determinations, each previous fiscal quarter commencing after the Closing Date).
Sample 1
Free Cash Flow Coverage. Maintain at all times a ratio of Free Cash Flow to Debt Service of not less than 1.2 to 1.0, to be tested as of the end of each fiscal quarter of Borrower and calculated on a trailing twelve (12) month basis. As used herein, “Free Cash Flow” shall be defined as the sum of: Borrower's (a) net income before taxes, plus (b) depreciation and amortization, plus (c) interest expense, plus (d) one-time, non-recurring expenses, less (d) cash taxes paid, less (e) non-financed capital expenditures if Borrower’s balance sheet cash on hand is less than $2,000,000.00 as of the end of each such fiscal quarter of Borrower, and less (f)
Sample 1
Free Cash Flow Coverage. Borrower shall maintain at all times a ratio of Free Cash Flow to Debt Service of not less than 1.20 to 1.0, to be tested as of the end of each fiscal quarter of each fiscal year of Borrower and calculated on a trailing twelve (12) month basis.
Sample 1
Free Cash Flow Coverage. Maintain a ratio of Free Cash Flow to Debt Service of not less than 1.25 to 1.00, to be tested as of the end of each fiscal quarter, commencing March 31, 2016. “Free Cash Flow” shall be defined as (a) EBITDA; plus (b) cash distributions from equity investments; plus (c) stock based compensation expense; less (d) equity income from equity investments; less (e) cash taxes paid; less (f) cash capital expenditures; less (g) dividends. “Debt Service” shall be defined as (a) interest expense; plus (b) scheduled principal payments corresponding to the cash flow measurement period; plus (c) principal payments on the Declining Revolving Credit Commitment as if the Declining Revolving Credit Loan Agreement 28 American Electric Technologies, Inc. Commitment is fully funded based on a 15-year amortization. The Free Cash Flow Coverage Ratio will not begin testing until March 31, 2016, at which time it will be tested on a year to date basis through September 30, 2016. Commencing December 31, 2016 and continuing thereafter, the Free Cash Flow Coverage will be tested on a rolling 12-month basis.
Sample 1

Related to Free Cash Flow Coverage

  • Cash Flow Coverage Ratio Maintain a Cash Flow Coverage Ratio as of the last day of each of its fiscal quarters of not less than 3.25 to 1.

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

  • Net Cash Flow The term “Net Cash Flow” shall mean all cash and cash equivalents from all sources on hand as of the last day of the measurement period prior to any distributions to the Partners, and after the payment of all then due expenses of operating and managing the Restaurants, and after payment of all debts and liabilities and after any prepayments of any debts and liabilities that the General Partner, in its reasonable and good faith discretion, elects to cause to be made, and after the establishment of any reserves reasonably deemed necessary by the General Partner for (i) the repayment of any due debts or liabilities, including debts owed to the General Partner; (ii) the working capital requirements; (iii) capital improvements and replacement of furniture, fixtures or equipment; and (iv) any contingent or unforeseen liabilities. In determining Net Cash Flow of each Restaurant there shall be deducted the Supervision Fee and the Accounting Fee as provided in Section 4.7, the Advertising Payment and the Insurance Payment as provided in Section 4.8, and the OSRS Charges as provided in Section 4.2.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

  • Minimum Consolidated EBITDA (a) The Borrower will not permit Consolidated EBITDA (i) for the Borrower's fiscal quarter ending closest to June 30, 1997 to be less than $2,500,000 and (ii) for any Test Period ending on the last day of a fiscal quarter of the Borrower set forth below to be less than the amount set forth opposite such fiscal quarter below: Fiscal Quarter Ending Closest To Amount ----------------- ------ September 30, 1997 $5,000,000 December 31, 1997 $5,000,000 March 31, 1998 $5,000,000 June 30, 1998 $5,000,000 September 30, 1998 $5,000,000 December 31, 1998 $5,000,000 March 31, 1999 $5,000,000 June 30, 1999 $5,000,000 -64- September 30, 1999 $ 5,000,000 December 31, 1999 $ 5,000,000 March 31, 2000 $ 5,000,000 June 30, 2000 $10,000,000 September 30, 2000 $15,000,000 December 31, 2000 $15,000,000 March 31, 2001 $15,000,000 June 30, 2001 $15,750,000 September 30, 2001 $16,500,000 December 31, 2001 $16,500,000 March 31, 2002 $16,500,000 June 30, 2002 $16,500,000

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