Common use of Minimum Interest Expense Coverage Ratio Clause in Contracts

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. ARTICLE VIII: DEFAULTS -------------- -------- 8.1

Minimum Interest Expense Coverage Ratio. Energizer shall maintain a ------------------------------------------- ratio (the "INTEREST EXPENSE COVERAGE RATIOInterest 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. ARTICLE VIII: DEFAULTS -------------- -------- 8.1.