Leverage Coverage Ratio. Convertible debt to annualized quarterly earnings before interest, taxes, depreciation and amortization not to exceed 25 to 1, beginning first fiscal quarter 2008 (September 30, 2007); not to exceed 20 to 1, beginning the first quarter 2009 (September 30, 2008). No Event of Default shall be deemed to have occurred pursuant to the provisions of this Section 10.17(a) until the required ratios have not been met for two consecutive fiscal quarters.
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Sources: Indenture (FP Technology, Inc.)
Leverage Coverage Ratio. Convertible debt to annualized quarterly earnings before interest, taxes, depreciation and amortization not to exceed 25 to 1, beginning first fiscal quarter 2008 (September 30, 2007); not to exceed 20 to 1, beginning the first quarter 2009 (September 30, 2008); not to exceed 15 to 1, beginning first quarter 2010 (September 30, 2009); not to exceed 10 to 1, beginning first quarter 2011 (September 30, 2010). No Event of Default shall be deemed to have occurred pursuant to the provisions of this Section 10.17(a) until the required ratios have not been met for two consecutive fiscal quarters.
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