Gearing. The Company must ensure that the ratio of Consolidated Total Net Borrowings (including all Loans disbursed and outstanding) to Consolidated EBITDA is not, at the end of each Measurement Period, greater than 2.5 to 1.
Appears in 3 contracts
Sources: Facilities Agreement (Mittal Steel Co N.V.), Facilities Agreement (Mittal Steel Co N.V.), Bridge Facility Agreement (Mittal Steel Co N.V.)
Gearing. The Company must ensure that the ratio of Consolidated Total Net Borrowings (including all Loans disbursed and outstandingas at each Testing Date) to Consolidated EBITDA (for the Measurement Period ending on that Testing Date) is not, at the end of each Measurement Period, greater not more than 2.5 to 13:1.
Appears in 3 contracts
Sources: Term and Revolving Facilities Agreement (Smith & Nephew PLC), Facility Agreement (Smith & Nephew PLC), Loan Agreement (Smith & Nephew PLC)