Common use of Leverage Test Clause in Contracts

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the four-fiscal-quarter period ended on such date to be greater than the amount specified in the chart below for the period in which such date shall occur: From the Effective Date through and including December 31, 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.50

Appears in 1 contract

Sources: Credit Agreement (Tucson Electric Power Co)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date to be greater than the amount specified in the chart below for the period fiscal year in which such date shall occur: From the Effective Date through and including December 31, Year Maximum Ratio ---- ------------- 2002 5.75 2003 5.50 2004 5.25 2005 4.75 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.50

Appears in 1 contract

Sources: Credit Agreement (Tucson Electric Power Co)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end last day of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date to be greater than 4.00, commencing with the amount specified in the chart below for the period in which such date shall occur: From the Effective Date through and including fiscal quarter ended December 31, 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.502009.

Appears in 1 contract

Sources: Loan Agreement (Unisource Energy Corp)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date to be greater than the amount specified in the chart below for the period in which such date shall occur: From the Effective Date through and including December 31, 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.504.00 to 1.0.

Appears in 1 contract

Sources: Letter of Credit and Reimbursement Agreement (Unisource Energy Corp)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at to (b) the end sum of Consolidated EBITDA and Consolidated Capital Lease Expense, in each case for the twelve- month period ended on the last day of any fiscal quarter, quarter commencing with the fiscal quarter ending June 30ended December 31, 20061997, to (b) Consolidated EBITDA for the four-fiscal-quarter period ended on such date to be greater more than the amount specified in the chart below for any such day occurring in the period in which such date shall occurapplicable calendar year: From the Effective Date through Year Maximum Ratio ---- ------------- 1997 and including December 31, 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.501998 7.00 1999 6.80 2000 6.60 2001 6.40 2002 6.20

Appears in 1 contract

Sources: Credit Agreement (Tucson Electric Power Co)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at as of the end last day of any fiscal quarterquarter of the Borrower, commencing with the fiscal quarter ending ended on June 30, 20062003, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date day to be greater than 6.25 to 1.0, as evidenced by the amount specified in the chart below for the period in which such date shall occur: From the Effective Date through and including December 31financial statements to be delivered pursuant to Section 5.1(a) or (b), 2006 5.00 From January 1, 2007 through and including December 31, 2008 4.75 From and after January 1, 2009 4.50as applicable.

Appears in 1 contract

Sources: Term Loan Agreement (Unisource Energy Corp)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date to be greater than the amount specified in the chart below for the period in which such date shall occur: From the Effective Date through and including December 31, 2006 5.00 4.50 From January 1, 2007 through and including December 31, 2008 4.75 2007 4.25 From and after January 1, 2009 4.502008 4.00

Appears in 1 contract

Sources: Credit Agreement (Tucson Electric Power Co)

Leverage Test. The Borrower will not permit the ratio of (a) Consolidated Total Indebtedness at the end of any fiscal quarter, commencing with the fiscal quarter ending June 30, 2006, to (b) Consolidated EBITDA for the fourtwelve-fiscal-quarter month period ended on such date to be greater than the amount specified in the chart below for the period in which such date shall occur: Period Maximum Ratio From the Effective Date through and including December 31June 30, 2006 5.00 2008 4.00 From January July 1, 2007 2008 through and including September 30, 2008 4.50 From October 1, 2008 through and including December 31, 2008 4.75 From and after January 1, 2009 4.50through and including June 30, 2009 4.50 From and after July 1, 2009 4.00

Appears in 1 contract

Sources: Letter of Credit and Reimbursement Agreement (Unisource Energy Corp)