Common use of Ratio of Adjusted EBITDA to Fixed Charges Clause in Contracts

Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) the product of (A) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2 to (ii) the product of (A) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2, to be less than the applicable ratio set forth below as of the last day of the fiscal quarters set forth below: Fiscal Quarter Ending Ratio of Adjusted EBITDA to Fixed Charges March 31, 2012, June 30, 2012, September 30, 2012 and December 31, 2012 1.40 to 1.00 March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013 1.45 to 1.00 March 31, 2014 and each fiscal quarter ending thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Credit Agreement (Parkway Properties Inc)

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Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) the product of (A) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2 to (ii) the product of (A) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2, to be less than the applicable ratio set forth below as of the last day of the fiscal quarters set forth below: Fiscal Quarter Ending Ratio of Adjusted EBITDA to Fixed Charges March 31, 2012, June 30, 2012, September 30, 2012 and December 31, 2012 1.40 to 1.00 March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013 1.45 to 1.00 March 31, 2014 and each fiscal quarter ending thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Parkway Properties Inc)

Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) the product of (A) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2 to (ii) the product of (A) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2, to be less than the applicable ratio set forth below as of the last day of the fiscal quarters set forth below: Fiscal Quarter Ending Ratio of Adjusted EBITDA to Fixed Charges March 31, 2012, 2011 and June 30, 2012, 2011 1.40 to 1.00 September 30, 2012 and 2011 1.45 to 1.00 December 31, 2012 1.40 to 1.00 March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013 1.45 to 1.00 March 31, 2014 2011 and each fiscal quarter ending thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Credit Agreement (Parkway Properties Inc)

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Ratio of Adjusted EBITDA to Fixed Charges. The Parent shall not permit the ratio of (i) the product of (A) Adjusted EBITDA of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2 to (ii) the product of (A) Fixed Charges of the Parent and its Subsidiaries determined on a consolidated basis for the two consecutive fiscal quarters most recently ended multiplied by (B) 2, to be less than the applicable ratio set forth below as of the last day of the fiscal quarters set forth below: Fiscal Quarter Ending Ratio of Adjusted EBITDA to Fixed Charges March 31, 2012, June 30, 2012, September 30, 2012 and December 31, 2012 1.40 to 1.00 March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013 1.45 to 1.00 March 31, 2014 and each fiscal quarter ending thereafter 1.50 to 1.00

Appears in 1 contract

Samples: Term Loan Agreement (Parkway Properties Inc)

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