Other Ratio. Maintain a ratio, as of the end of each fiscal quarter of Borrower, as measured on a rolling four fiscal quarter basis, of (x) the sum of Borrower’s annual earning before interest, taxes, depreciation and amortization expenses (but excluding any non-cash income) less dividends and distributions paid to shareholders of Borrower, to (y) the amount of current portion of long-term obligations as reflected on Borrower’s most recent balance sheet date plus the amount of the interest expense for the preceding four fiscal quarters, of 2.5 to 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio of Minimum Quick Ratio of 0.90 to 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ration of"EBITDA", WHICH MEANS FOR ANY PERIOD, THE SUME OF (A) NET INCOME FOR SUCH PERIOD AND (B) THE FOLLOWING, TO THE EXTENT DEDUCTED IN DETERMINING SUCH NET INCOME: (I) DEPRECIATION AND AMORTIZATION, (II) INCOME TAXES, AND (III) INTEREST EXPENSE OF 2.50 TO 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio of EARNINGS BEFORE INTEREST AND TAXES TO INTEREST EXPENSE IN EXCESS OF 1.40 to 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio of LIQUID ASSETS PLUS ACCOUNTS RECEIVABLE TO CURRENT LIABILITIES OF 1.35 TO 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio, as of the end of each fiscal quarter of Borrower, as measured on a rolling four fiscal quarter basis, of (x) the amount of Borrower’s annual Net Income adjusted to exclude any non-cash income and to exclude expenses for interest, taxes, depreciation, amortization, asset impairment, and restaurant opening costs; less the amount of dividends and distributions paid to shareholders of Borrower, to (y) the amount of the current portion of long-term obligations as reflected on Borrower’s most recent balance sheet plus the amount of the interest expense for the preceding four fiscal quarters, that is equal to or greater than 2.00 to 1. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct. Please sign and return the acknowledgement copy to this letter to me to confirm your acceptance of the above modifications on behalf of Fresh Choice, Inc. In addition, your acknowledgement will confirm to Mid-Peninsula Bank that, except as expressly changed by this agreement, the terms of the original obligations of Fresh Choice, Inc. to Mid-Peninsula Bank, including all agreements evidencing or securing the obligations, remain unchanged and in full force and effect. Sincerely, /s/ Xxx Xxxxxxxx Xxx Xxxxxxxx Senior Vice President Acknowledged and Accepted by: Fresh Choice, Inc. By: /s/ Xxxxx X. Xxxxx Xxxxx X. Xxxxx, Senior Vice President & Chief Financial Officer
Other Ratio. Maintain a ratio of CASH FLOW COVERAGE (to be measured annually based on Borrower's fiscal year end) of 1.50 to 1.00. The following provisions shall apply for purposes of determining compliance with the foregoing financial covenants and ratios: Ratios of Debt to Tangible Net Worth, and current assets to current liabilities measured quarterly based on Borrower's fiscal quarter. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio, as of the end of each fiscal quarter of Borrower, as measured on a rolling four fiscal quarter basis, of (x) the amount of Borrower’s annual Net Income adjusted to exclude any non-cash income and to exclude expenses for interest, taxes, depreciation, amortization, asset impairment, and restaurant opening costs; less the amount of dividends and distributions paid to shareholders of Borrower, to (y) the amount of the current portion of long-term obligations as reflected on Borrower’s most recent balance sheet date plus the amount of the interest expense for the preceding four fiscal quarters, that is equal to or greater than 1.50 to 1. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio of Minimum Quick Ratio: defined as, Cash + Marketable Securities + Net Trade Accounts Receivable (A/R) divided by Current Liabilities of 0.85 to 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Other Ratio. Maintain a ratio of MINIMUM DEBT SERVICE COVERAGE (NET INCOME + DEPRECIATION)/(CMLTD + CM CAPITAL LEASES) OF 1.00 TO 1.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
