Common use of Interest Expense Coverage Ratio Clause in Contracts

Interest Expense Coverage Ratio. The Borrower will not permit the Interest Expense Coverage Ratio for any Test Period to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Period: Date Ratio December 31, 2005 2.50:1.00 March 31, 2006 2.50:1.00 June 30, 2006 2.50:1.00 September 30, 2006 2.50:1.00 December 31, 2006 2.75:1.00 March 31, 2007 2.75:1.00 June 30, 2007 2.75:1.00 September 30, 2007 2.75:1.00 December 31, 2007 3.00:1.00 March 31, 2008 3.00:1.00 June 30, 2008 3.00:1.00 September 30, 2008 3.00:1.00 December 31, 2008 3.25:1.00 March 31, 2009 3.25:1.00 June 30, 2009 3.25:1.00 September 30, 2009 3.25:1.00 December 31, 2009 3.50:1.00 March 31, 2010 3.50:1.00 June 30, 2010 3.50:1.00 September 30, 2010 3.50:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 3.50:1.00 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.00

Appears in 2 contracts

Samples: Credit Agreement (Polymer Group Inc), Credit Agreement (Polymer Group Inc)

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Interest Expense Coverage Ratio. The Borrower Loan Parties will not permit the Interest Expense Coverage Ratio for any Test Period ending on a date set forth below to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such date: Test Period: Date Period Ending on Ratio --------------------- ----- September 30, 2003 2.00:1.00 December 31, 2003 2.00:1.00 March 31, 2004 2.00:1.00 June 30, 2004 2.00:1.00 September 30, 2004 2.25:1.00 December 31, 2004 2.25:1.00 March 31, 2005 2.25:1.00 June 30, 2005 2.50:1.00 September 30, 2005 2.50:1.00 December 31, 2005 2.50:1.00 March 31, 2006 2.50:1.00 June 30, 2006 2.50:1.00 2.75:1.00 September 30, 2006 2.50:1.00 3.00:1.00 December 31, 2006 2.75:1.00 3.00:1.00 March 31, 2007 2.75:1.00 3.00:1.00 June 30, 2007 2.75:1.00 3.25:1.00 September 30, 2007 2.75:1.00 3.25:1.00 December 31, 2007 3.00:1.00 3.25:1.00 March 31, 2008 3.00:1.00 3.25:1.00 June 30, 2008 3.00:1.00 3.25:1.00 September 30, 2008 3.00:1.00 3.25:1.00 December 31, 2008 3.25:1.00 March 31, 2009 3.25:1.00 June 30, 2009 3.25:1.00 September 30, 2009 3.25:1.00 December 31, 2009 3.50:1.00 March 31, 2010 3.50:1.00 June 30, 2010 3.50:1.00 September 30, 2010 3.50:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 3.50:1.00 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.003.25:1.00

Appears in 2 contracts

Samples: Credit Agreement (Seminis Inc), Credit Agreement (Seminis Inc)

Interest Expense Coverage Ratio. The Borrower will not permit the Interest Expense Coverage Ratio for any Test Period ending on a date set forth below to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such period: Test Period: Date Period Ratio ---------- ----- December 31, 2003 2.50 March 31, 2004 2.50 June 30, 2004 2.50 September 30, 2004 2.50 December 31, 2004 2.50 March 31, 2005 3.00 June 30, 2005 3.00 September 30, 2005 3.00 December 31, 2005 2.50:1.00 3.00 March 31, 2006 2.50:1.00 4.00 June 30, 2006 2.50:1.00 4.00 September 30, 2006 2.50:1.00 4.00 December 31, 2006 2.75:1.00 4.00 March 31, 2007 2.75:1.00 4.00 June 30, 2007 2.75:1.00 4.00 September 30, 2007 2.75:1.00 4.00 December 31, 2007 3.00:1.00 4.00 March 31, 2008 3.00:1.00 4.00 June 30, 2008 3.00:1.00 4.00 September 30, 2008 3.00:1.00 4.00 December 31, 2008 3.25:1.00 4.00 March 31, 2009 3.25:1.00 4.00 June 30, 2009 3.25:1.00 4.00 September 30, 2009 3.25:1.00 4.00 December 31, 2009 3.50:1.00 March 31, 2010 3.50:1.00 June 30, 2010 3.50:1.00 September 30, 2010 3.50:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 3.50:1.00 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.004.00

Appears in 1 contract

Samples: Credit Agreement (Quintiles Transnational Corp)

Interest Expense Coverage Ratio. The Borrower will not permit the Interest Expense Coverage Ratio for any Test Period to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Period: Date Ratio December 31, 2005 2.50:1.00 March 31, 2006 2.50:1.00 June 30, 2006 2.50:1.00 September 30, 2006 2.50:1.00 December 31, 2006 2.50:1.00 March 31, 2007 2.50:1.00 June 30, 2007 2.50:1.00 September 30, 2007 2.50:1.00 December 31, 2007 2.50:1.00 March 31, 2008 2.75:1.00 June 30, 2008 2.75:1.00 September 30, 2008 2.75:1.00 December 31, 2008 2.75:1.00 March 31, 2007 2.75:1.00 2009 3.00:1.00 June 30, 2007 2.75:1.00 2009 3.00:1.00 September 30, 2007 2.75:1.00 2009 3.00:1.00 December 31, 2007 2009 3.00:1.00 March 31, 2008 3.00:1.00 2010 3.25:1.00 June 30, 2008 3.00:1.00 2010 3.25:1.00 September 30, 2008 3.00:1.00 2010 3.25:1.00 December 31, 2008 2010 3.25:1.00 March 31, 2009 2011 3.25:1.00 June 30, 2009 2011 3.25:1.00 September 30, 2009 2011 3.25:1.00 December 31, 2009 3.50:1.00 March 31, 2010 3.50:1.00 June 30, 2010 3.50:1.00 September 30, 2010 3.50:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 3.50:1.00 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 3.25:1.00 March 31, 2012 3.50:1.00 3.25:1.00 June 30, 2012 3.50:1.00 Date Ratio 3.25:1.00 September 30, 2012 3.50:1.003.25:1.00

Appears in 1 contract

Samples: Credit Agreement (Polymer Group Inc)

Interest Expense Coverage Ratio. The Borrower will Loan Parties shall not permit the Interest Expense Coverage Ratio for any Test Period ending on a date set forth below to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Perioddate: Date Ratio June 30, 2005 3.00: 1.00 September 30, 2005 3.00: 1.00 December 31, 2005 2.50:1.00 3.25: 1.00 March 31, 2006 2.50:1.00 3.50: 1.00 June 30, 2006 2.50:1.00 3.50: 1.00 September 30, 2006 2.50:1.00 3.50: 1.00 December 31, 2006 2.75:1.00 3.50: 1.00 March 31, 2007 2.75:1.00 3.50: 1.00 June 30, 2007 2.75:1.00 3.50: 1.00 September 30, 2007 2.75:1.00 3.50: 1.00 December 31, 2007 3.00:1.00 3.50: 1.00 March 31, 2008 3.00:1.00 3.50: 1.00 June 30, 2008 3.00:1.00 3.50: 1.00 September 30, 2008 3.00:1.00 3.50: 1.00 December 31, 2008 3.25:1.00 3.50: 1.00 March 31, 2009 3.25:1.00 3.50: 1.00 June 30, 2009 3.25:1.00 3.50: 1.00 September 30, 2009 3.25:1.00 3.50: 1.00 December 31, 2009 3.50:1.00 3.50: 1.00 March 31, 2010 3.50:1.00 3.50: 1.00 June 30, 2010 3.50:1.00 3.50: 1.00 September 30, 2010 3.50:1.00 3.50: 1.00 December 31, 2010 3.50:1.00 3.50: 1.00 March 31, 2011 3.50:1.00 3.50: 1.00 June 30, 2011 3.50:1.00 3.50: 1.00 September 30, 2011 3.50:1.00 3.50: 1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.003.50: 1.00

Appears in 1 contract

Samples: Credit Agreement (Lakers Holding Corp.)

Interest Expense Coverage Ratio. The Borrower Borrowers will not permit the Interest Expense Coverage Ratio for any Test Period ending on a date set forth below to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Perioddate: Date Ratio ---- ----- June 30, 2004 2.0:1.0 September 30, 2004 2.0:1.0 December 31, 2004 2.0:1.0 March 31, 2005 2.0:1.0 June 30, 2005 2.0:1.0 September 30, 2005 2.0:1.0 December 31, 2005 2.50:1.00 2.0:1.0 March 31, 2006 2.50:1.00 2.0:1.0 June 30, 2006 2.50:1.00 2.0:1.0 September 30, 2006 2.50:1.00 2.0:1.0 December 31, 2006 2.75:1.00 2.0:1.0 March 31, 2007 2.75:1.00 2.0:1.0 June 30, 2007 2.75:1.00 2.0:1.0 September 30, 2007 2.75:1.00 2.0:1.0 December 31, 2007 3.00:1.00 2.0:1.0 March 31, 2008 3.00:1.00 2.0:1.0 June 30, 2008 3.00:1.00 2.0:1.0 September 30, 2008 3.00:1.00 2.0:1.0 December 31, 2008 3.25:1.00 2.0:1.0 March 31, 2009 3.25:1.00 2.0:1.0 June 30, 2009 3.25:1.00 2.0:1.0 September 30, 2009 3.25:1.00 2.0:1.0 December 31, 2009 3.50:1.00 2.0:1.0 -85- Date Ratio ---- ----- March 31, 2010 3.50:1.00 2.0:1.0 June 30, 2010 3.50:1.00 2.0:1.0 September 30, 2010 3.50:1.00 2.0:1.0 December 31, 2010 3.50:1.00 2.0:1.0 March 31, 2011 3.50:1.00 2.0:1.0 June 30, 2011 3.50:1.00 2.0:1.0 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.002.0:1.0

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Texas Holdings, Inc.)

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Interest Expense Coverage Ratio. The Borrower will not permit the Interest Expense Coverage Ratio for any Test Period to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Period: Date Ratio ---- ----- June 30, 2004 2.00:1.00 September 30, 2004 2.00:1.00 December 31, 2004 2.50:1.00 March 31, 2005 2.50:1.00 June 30, 2005 2.50:1.00 September 30, 2005 2.50:1.00 December 31, 2005 2.50:1.00 2.75:1.00 March 31, 2006 2.50:1.00 2.75:1.00 June 30, 2006 2.50:1.00 2.75:1.00 September 30, 2006 2.50:1.00 2.75:1.00 December 31, 2006 2.75:1.00 3.00:1.00 March 31, 2007 2.75:1.00 3.00:1.00 June 30, 2007 2.75:1.00 3.00:1.00 September 30, 2007 2.75:1.00 3.00:1.00 December 31, 2007 3.00:1.00 3.25:1.00 March 31, 2008 3.00:1.00 3.25:1.00 June 30, 2008 3.00:1.00 3.25:1.00 -86- Date Ratio ---- ----- September 30, 2008 3.00:1.00 3.25:1.00 December 31, 2008 3.25:1.00 3.50:1.00 March 31, 2009 3.25:1.00 3.50:1.00 June 30, 2009 3.25:1.00 3.50:1.00 September 30, 2009 3.25:1.00 3.50:1.00 December 31, 2009 3.50:1.00 March 31, 2010 3.50:1.00 June 30, 2010 3.50:1.00 September 30, 2010 3.50:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 3.50:1.00 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.00

Appears in 1 contract

Samples: Credit Agreement (Polymer Group Inc)

Interest Expense Coverage Ratio. The U.S. Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Cash Interest Expense (the "Interest Coverage Ratio Ratio"), in each case for any Test Period period of four consecutive Fiscal Quarters ending on any date set forth below, to be less than the ratio set forth below opposite the such date set forth below which is closest below, provided that, to the last day extent the U.S. Borrower or any of its Subsidiaries makes any Permitted Acquisition, Asset Disposition or Discontinuation during the period of four Fiscal Quarters most recently ended, the Interest Coverage Ratio for such Test Periodperiod shall be calculated on a Pro Forma Basis: Date Ratio ---- ----- March 31, 2005 2.50:1.00 June 30, 2005 2.50:1.00 September 30, 2005 2.50:1.00 December 31, 2005 2.50:1.00 March 31, 2006 2.50:1.00 2.60:1.00 June 30, 2006 2.50:1.00 2.60:1.00 -144- September 30, 2006 2.50:1.00 2.60:1.00 December 31, 2006 2.75:1.00 2.70:1.00 March 31, 2007 2.75:1.00 2.70:1.00 June 30, 2007 2.75:1.00 2.70:1.00 September 30, 2007 2.75:1.00 2.80:1.00 December 31, 2007 3.00:1.00 2.80:1.00 March 31, 2008 3.00:1.00 2.90:1.00 June 30, 2008 3.00:1.00 2.90:1.00 September 30, 2008 3.00:1.00 December 31, 2008 3.25:1.00 3.00:1.00 March 31, 2009 3.25:1.00 3.10:1.00 June 30, 2009 3.25:1.00 3.10:1.00 September 30, 2009 3.25:1.00 December 31, 2009 3.50:1.00 3.25:1.00 March 31, 2010 3.50:1.00 3.25:1.00 June 30, 2010 3.50:1.00 3.25:1.00 September 30, 2010 3.50:1.00 3.25:1.00 December 31, 2010 3.50:1.00 3.25:1.00 March 31, 2011 3.50:1.00 3.25:1.00 June 30, 2011 3.50:1.00 3.25:1.00 September 30, 2011 3.50:1.00 3.25:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.003.25:1.00

Appears in 1 contract

Samples: Credit Agreement (Westborn Service Center, Inc.)

Interest Expense Coverage Ratio. The U.S. Borrower will not permit the Interest Expense Coverage Ratio for any Test Period ending on a date set forth below to be less than the ratio set forth below opposite the date set forth below which is closest to the last day of such Test Perioddate: Date Ratio DATE RATIO ---- ------ December 31, 2005 2.50:1.00 3.25:1 March 31, 2006 2.50:1.00 3.25:1 June 30, 2006 2.50:1.00 3.25:1 September 30, 2006 2.50:1.00 3.25:I December 31, 2006 2.75:1.00 3.25:1 March 31, 2007 2.75:1.00 3.50:1 June 30, 2007 2.75:1.00 3.50:1 September 30, 2007 2.75:1.00 3.50:1 December 31, 2007 3.00:1.00 3.50:1 March 31, 2008 3.00:1.00 3.75:1 June 30, 2008 3.00:1.00 3.75:1 September 30, 2008 3.00:1.00 3.75:1 December 31, 2008 3.25:1.00 3.75:1 March 31, 2009 3.25:1.00 4.00:1 June 30, 2009 3.25:1.00 4.00:1 September 30, 2009 3.25:1.00 4.00:1 December 31, 2009 3.50:1.00 4.00:1 March 31, 2010 3.50:1.00 4.25:1 June 30, 2010 3.50:1.00 4.25:1 September 30, 2010 3.50:1.00 4.25:1 123 DATE RATIO ---- ------ December 31, 2010 3.50:1.00 4.25:1 March 31, 2011 3.50:1.00 4.25:1 June 30, 2011 3.50:1.00 4.25:1 September 30, 2011 3.50:1.00 December 31, 2011 3.50:1.00 March 31, 2012 3.50:1.00 June 30, 2012 3.50:1.00 Date Ratio September 30, 2012 3.50:1.004.25:1

Appears in 1 contract

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.)

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