Ratio of Net Senior Secured Debt to EBITDAX Sample Clauses

Ratio of Net Senior Secured Debt to EBITDAX. The Borrower will not, as of the last day of any fiscal quarter ending on December 31, 2014 through June 30, 2016, permit its ratio of Net Senior Secured Debt as of such date to EBITDAX for the period of four fiscal quarters then ending on such day to be greater than 1.75 to 1.00.
Sample 1
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Ratio of Net Senior Secured Debt to EBITDAX. The Borrower will not, as of the last day of any fiscal quarter ending on or after March 31, 2017, permit its ratio of Net Senior Secured Debt as of such date to EBITDAX for the period of four (4) fiscal quarters then ending on such day to be greater than 3.25 to 1.00; provided that EBITDAX for the four (4) fiscal quarters ending on (i) March 31, 2017 shall be EBITDAX for the fiscal quarter then ending multiplied by four (4) and (ii) June 30, 2017 shall be EBITDAX for the two (2) fiscal quarters then ending multiplied by two (2).
Sample 1Sample 2
Ratio of Net Senior Secured Debt to EBITDAX. The Borrower will not, as of the last day of any fiscal quarter, permit its ratio of Net Senior Secured Debt as of such date to EBITDAX for the period of four fiscal quarters then ending on such day to be greater than (i) 3.00 to 1.00 for any fiscal quarter ending prior to the Senior Debt Exchange, (ii) if holders of 80% or more of the outstanding principal amount of each series of Senior Debt agree to the exchange of Senior Debt for Second Lien Notes pursuant to the Senior Debt Exchange, 2.75 to 1.00 for any fiscal quarter ending on or after the Senior Debt Exchange or (iii) if holders of less than 80% of the outstanding principal amount of each series of Senior Debt agree to the exchange of Senior Debt for Second Lien Notes pursuant to the Senior Debt Exchange, 3.00 to 1.00 for any fiscal quarter ending on or after the Senior Debt Exchange.
Sample 1

Related to Ratio of Net Senior Secured Debt to EBITDAX

  • Consolidated Senior Secured Leverage Ratio Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower (beginning with the fiscal quarter ended September 30, 2018) to be greater than (A) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at all other times, 3.50 to 1.00.

  • Senior Secured Leverage Ratio Not permit the Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Guarantor to be above the maximum ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ending Maximum Senior Secured Leverage Ratio Fourth Quarter 2013 3.50:1.00 First Quarter 2014 3.50:1.00 Second Quarter 2014 3.25:1.00 Third Quarter 2014 3.00:1.00 Fourth Quarter 2014 and Each Fiscal Quarter Thereafter 2.75:1.00

  • Debt to EBITDA Ratio Maintain a Debt to EBITDA Ratio, as at the end of each fiscal quarter of the Borrower, of not more than 4.0:1.0.

  • Funded Debt to EBITDA Ratio A. Funded Debt

  • Total Debt to EBITDA Ratio Not permit the Total Debt to EBITDA Ratio as of the last day of any Four Fiscal Quarter Computation Period, commencing with the Four Fiscal Quarter Computation Period ending September 30, 2010, to exceed 3.00 to 1.0.

  • Funded Debt to EBITDA Section 10.2 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Leverage Ratio The Borrower will not permit the Leverage Ratio to exceed 4.50 to 1.0 on the last day of any Fiscal Quarter.

  • Leverage Ratios Notwithstanding anything to the contrary contained herein, for purposes of calculating any leverage ratio herein in connection with the incurrence of any Indebtedness, (a) there shall be no netting of the cash proceeds proposed to be received in connection with the incurrence of such Indebtedness and (b) to the extent the Indebtedness to be incurred is revolving Indebtedness, such incurred revolving Indebtedness (or if applicable, the portion (and only such portion) of the increased commitments thereunder) shall be treated as fully drawn.

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

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