Minimum Interest Expense Coverage Ratio. The Company shall maintain a ratio (the “Interest Expense Coverage Ratio”) of (i) EBIT to (ii) Interest Expense for the applicable period of at least 2.50 to 1.00 as of the end of each fiscal quarter ending on or after November 30, 2007. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the actual amount of EBIT and Interest Expense for the four-quarter period ending on such day, and shall be calculated, with respect to Permitted Acquisitions, on a pro forma basis using historical audited and reviewed unaudited financial statements obtained from the seller(s) in such Permitted Acquisition, broken down by fiscal quarter in the Company’s reasonable judgment and satisfactory to the Administrative Agent.
Minimum Interest Expense Coverage Ratio. Guarantor shall not, with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit the ratio of (i) all amounts set forth on an income statement of Guarantor and its consolidated Subsidiaries prepared in accordance with GAAP for interest income for the period of four (4) consecutive fiscal quarters ended on or most recently prior to such date of determination to (ii) the Interest Expense of Guarantor and its consolidated Subsidiaries for such period, to be less than 1.50 to 1.00.
Minimum Interest Expense Coverage Ratio. The ratio of (i) Adjusted EBITDA of the Trust and its Subsidiaries determined on a consolidated basis for the period of two consecutive fiscal quarters of the Trust most recently ending to (ii) Interest Expense for such period, to be less than 1.50 to 1.00 at any time.
Minimum Interest Expense Coverage Ratio. The Borrower shall maintain a ratio (the “Interest Expense Coverage Ratio”) for any applicable period of (a) EBIT for such period to (b) Interest Expense for such period of greater than 3.00 to 1.00 for each fiscal quarter. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the four-quarter period ending on such day, calculated, with respect to Permitted Acquisitions, on a pro forma basis using unadjusted historical audited and reviewed unaudited financial statements obtained from the seller (with the EBITDA component thereof broken down by fiscal quarter in the Borrower’s reasonable judgment).
Minimum Interest Expense Coverage Ratio. The Borrower shall not permit the Interest Expense Coverage Ratio as of the end of any fiscal quarter to be less than 3.00 to 1.00. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the four-quarter period ending on such day (with the Consolidated EBITDA component thereof broken down by fiscal quarter in the Borrower’s reasonable judgment); provided that the Consolidated EBITDA for any Person or assets comprising a business acquired by the Borrower or any Restricted Subsidiary pursuant to a Material Acquisition (including restructuring charges, operating synergies or other expense reductions and adjustments permitted by Article XI of Regulation S-X promulgated by the Securities and Exchange Commission) during such period shall be included on a pro forma basis for such period (assuming the consummation of such acquisition and the incurrence or assumption of any Indebtedness of the Borrower or any Restricted Subsidiary in connection therewith incurred as of the first day of such period, with corresponding adjustments to the determination of Consolidated Interest Expense), and provided, further that the Consolidated EBITDA for any entity sold by the Borrower or any Restricted Subsidiary pursuant to a Material Disposition shall be deducted on a pro forma basis for such period (assuming the consummation of such sale or other disposition occurred on the first day of such period).
Minimum Interest Expense Coverage Ratio. The Company shall maintain a ratio (the “Interest Expense Coverage Ratio”), determined at the end of each of its fiscal quarters, of (a) EBIT for such period to (b) Interest Expense for such period of greater than 3.00 to 1.00. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter based upon EBIT and Interest Expense for the four-quarter period ending on such day.
Minimum Interest Expense Coverage Ratio. Energizer shall maintain a ------------------------------------------- ratio (the "Interest Expense Coverage Ratio") for any applicable period of (a) EBIT for such period to (b) Interest Expense for such period of greater than 3.00 to 1.00 for each fiscal quarter. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the four-quarter period ending on such day; provided, that (i) for the fiscal quarter ending June -------- 30, 2000, the Interest Expense Coverage Ratio shall be calculated using EBIT and Interest Expense for the fiscal quarter ending June 30, 2000, (b) for the fiscal quarter ending September 30, 2000, the Interest Expense Coverage Ratio shall be calculated using EBIT and Interest Expense for the two fiscal quarter period ending September 30, 2000, and (iii) for the fiscal quarter ending December 31, 2000, the Interest Expense Coverage Ratio shall be calculated using such items for Energizer and its consolidated Subsidiaries for the three fiscal quarter period ending December 31, 2000.
Minimum Interest Expense Coverage Ratio. The Company and its consolidated Subsidiaries shall maintain a ratio (the "Interest Expense Coverage Ratio") for any applicable period of (i) EBIT for such period to (ii) Interest Expense for such period of at least 2.00 to 1.00 as of the end of each fiscal quarter for the period commencing with the fiscal quarter ending on June 30, 2002 through the Termination Date. The Interest Expense Coverage Ratio shall be determined as of the last day of each fiscal quarter based upon the actual amount of EBIT and Interest Expense for the four-quarter period ending on such day, calculated, with respect to Permitted Acquisitions, on a pro forma basis using historical audited and reviewed unaudited financial statements obtained from the seller(s) in such Permitted Acquisition, broken down by fiscal quarter in the Company's reasonable judgment and satisfactory to the Administrative Agent and as reported to the Administrative Agent pursuant to the provisions of Section 7.3(F)(b).
Minimum Interest Expense Coverage Ratio. The Company shall maintain a ratio (the "INTEREST EXPENSE COVERAGE RATIO") of (i) EBIT to (ii) Interest Expense for the applicable period of at least 2.50 to 1.00 as of the end of each fiscal quarter ending on or after February 28, 2002. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the actual amount of EBIT and Interest Expense for the four-quarter period ending on such day, and shall be calculated, with respect to Permitted Acquisitions, on a pro forma basis using historical audited and reviewed unaudited financial statements obtained from the seller(s) in such Permitted Acquisition, broken down by fiscal quarter in the Company's reasonable judgement and satisfactory to the Administrative Agent. For purposes of determining compliance with this covenant, the EBIT of the Company and its consolidated Subsidiaries for any period of four fiscal periods ending on or prior to November 1, 2002 shall be deemed to include the EBIT attributable to NSI's lighting equipment and chemicals businesses for the portion of such period that ends on November 30, 2001 (and such EBIT shall be determined on a basis consistent with Agreement Accounting Principles).
Minimum Interest Expense Coverage Ratio. The Borrower shall maintain a ratio (the “Interest Expense Coverage Ratio”) for any applicable period of (a) EBIT for such period to (b) Interest Expense for such period of greater than 3.00 to 1.00 for each fiscal quarter. The Interest Expense Coverage Ratio shall be calculated as of the last day of each fiscal quarter for the four-quarter period ending on such day, calculated, with respect to Permitted Acquisitions, on a pro forma basis using unadjusted historical audited and reviewed unaudited financial statements obtained from the seller (with the EBITDA component thereof broken down by fiscal quarter in the Borrower’s reasonable judgment). Notwithstanding the foregoing or Agreement Accounting Principles to the contrary, so long as the Spinco High Yield Bond Conditions are satisfied, neither the Spinco High Yield Bond Financing, nor or any interest, fees or expenses in connection therewith, shall be included in determining compliance with the covenants in this Section 7.4.
