Ratio of Debt to EBITDA. The Company will maintain a ratio of Consolidated Debt of the Company and its Subsidiaries on a Consolidated basis as of any date to EBITDA of the Company and its Subsidiaries on a Consolidated basis for the four fiscal quarters ended on or immediately prior to such date, of not greater than 3.50 to 1.
Ratio of Debt to EBITDA. The Lenders shall have received satisfactory evidence (including satisfactory supporting schedules and other data) that the ratio of (A) pro forma Consolidated Indebtedness to (B) pro forma Consolidated EBITDA of Holdings, Borrower and its Subsidiaries calculated in a manner reasonably acceptable to the Agents and after giving effect to the G-Force Acquisition for the last two fiscal quarters ended immediately prior to the G-Force Acquisition Closing Date for which financial statements are available multiplied by two, was not greater than 7.00:1.00.
Ratio of Debt to EBITDA. Section 6.19 of the Loan Agreement is amended and restated to read as follows:
Ratio of Debt to EBITDA. Permit the ratio of notes payable and capitalized lease obligations (as that line item is disclosed on Borrower's consolidated balance sheet in their 10K and 10Q) to EBITDA, as of the last day of the fiscal quarter of Borrowers and their Subsidiaries, calculated at the end of each such quarter on a rolling four (4) quarter basis, to be greater than 4.5:1. For the purposes of the calculation of this ratio, The Spectrum Club's Fullerton and Santa Ana xxxse obligation in the amount of $10,000,000 by and between SCC I LLC, as Landlord, and The Sports Club Company, Inc. as Tenant, dated as of December 31, 1997, shall not be included as debt."
Ratio of Debt to EBITDA. The Borrower will not permit the ratio of Debt (exclusive of Non-Recourse Debt and Debt permitted under Sections 9.01(c) and 9.01(h)) to EBITDA as of the end of any fiscal quarter of the Borrower (calculated on a rolling four quarter basis) to be greater than 3.00 to 1.00.
Ratio of Debt to EBITDA. Permit the ratio of notes payable and capitalized lease obligations (as that line item is disclosed on Borrower's consolidated balance sheet in their 10K and 10Q) to EBITDA, as of the last day of the fiscal quarter of Borrowers and their Subsidiaries, calculated at the end of each such quarter on a rolling four (4) quarter basis, to be greater than 4.5:1.
Ratio of Debt to EBITDA. Borrower and its Subsidiaries shall have a ratio of Consolidated Funded Debt to Consolidated EBITDA of no greater than 3.75 to 1.0 on the Closing Date, and on the last calendar day of each fiscal quarter thereafter, until December 31, 1999; and no greater than 3.50 to 1.00 on the last calendar day of each fiscal quarter thereafter, until December 31, 2000; and no greater than 3.00 to 1.00 on the last calendar day of each fiscal quarter thereafter, until December 31, 2001; and no greater than 2.75 to 1.0 on the last calendar day of each fiscal quarter thereafter, until the Facility Termination Date. The ratio of Consolidated Funded Debt to Consolidated EBITDA shall be calculated for the most recent preceding four fiscal quarters, including the fiscal quarter ending on the date of determination and shall exclude any debt relating to the Convertible Debentures or the securities sold pursuant to the Preferred Securities Offering.
