Interest Expense Coverage. The Borrower shall maintain at the ------------------------- end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on September 30, 1995, a ratio of (a) Total Base Rents for such Fiscal Quarter to (b) Net Interest Expense for such Fiscal Quarter, of not less than 2:1.
Interest Expense Coverage. The Company will not permit the ratio of
Interest Expense Coverage. The Company shall maintain Interest Expense Coverage of not less than the following amounts for the following periods of time:
Interest Expense Coverage. The ratio of Adjusted EBITDA to Interest Expense for the then immediately preceding twelve (12) full calendar months shall not be less than 2.50 to 1.
Interest Expense Coverage. The ratio of Adjusted EBITDA to Interest Expense is not less than 2.10 to 1.
Interest Expense Coverage. The Company will not permit the ratio of EBITDA to Consolidated Interest Expense,
Interest Expense Coverage. As at the last day of each fiscal quarter of the Borrower, permit the ratio of (i) EBITDA for the four fiscal quarter period ending on such date to (ii) Consolidated Interest Expense for the four fiscal quarter period ending on such date, to be less than (A) 1.50 to 1.00 for the fiscal quarter ending in March 1999 or (B) 2.50 to 1.00 for the fiscal quarter ending in June 1999 or (C) 3.00 to 1.00 for the fiscal quarter ending in September 1999 or (D) 3.50 to 1.00 for any fiscal quarter ending after September 1999.
Interest Expense Coverage. The Interest Expense Coverage as determined on each Calculation Date shall be not less than 1.75:1. The Interest Expense Coverage covenant shall be tested by the Administrative Agent on the Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be as determined solely by the Administrative Agent.
Interest Expense Coverage. Permit (x) for any fiscal quarter (an "Interim Quarter") of the Borrower ending after December 1997 but before March 1999 in which the Borrower's EBIT for such fiscal quarter equals or exceeds $10,000,000, as at the last day of such Interim Quarter, and of each fiscal quarter thereafter to but not including the fiscal quarter ending in March 1999, permit the ratio of (i) EBIT for such quarter to (ii) Consolidated Interest Expense for such quarter to be less than 1.0 to 1.0; and (y) for the fiscal quarter of the Borrower ending in March 1999, as of the last day of such fiscal quarter, the ratio of (i) EBIT for such quarter to (ii) Consolidated Interest Expense for such quarter to be less than 2.0 to 1.0; and (z) as at the last day of each fiscal quarter of the Borrower ending in June 1999 or thereafter the ratio of (i) EBIT for the four fiscal quarters ending on such date to (ii) Consolidated Interest Expense for the four fiscal quarters ending on such date, to be less than 2.0 to 1.0.
Interest Expense Coverage. As of the last day of any fiscal quarter commencing with the fiscal quarter ending June 30, 1999, the ratio of (A) Consolidated EBITA to (B) Consolidated Interest Expense, measured for the four most recently ended fiscal quarters taken as a single accounting period, shall not be less than 1 to 1; provided, however for the fiscal quarter end June 30, 1999 the measuring period shall be the two most recently ended fiscal quarters taken as a single accounting period and for the fiscal quarter end September 31, 1999 the measuring period shall be the most recently ended three fiscal quarters, taken as a single accounting period. For the purposes of this PARAGRAPH 6A(2), Consolidated Interest Expense shall be reduced by the aggregate amount of interest paid on the Notes in such period which, as a result of the First Waiver, is in excess of the amount of interest which would have been paid on the Notes in such period if the Notes had continued to accrue interest on amounts not then due at an annual rate of 7.91% and by the aggregate amount of Deferred Interest and Deferred Current Interest due SVB and Consolidated EBITA shall be increased by the aggregate amount of expenses of the Holders incurred in connection with the First Waiver paid by the Company in such period pursuant to paragraph 5S of the Note Agreement and paragraph 5(f) of the First Waiver and by the Closing Expenses of SVB."
