Common use of Ratio of Total Debt to EBITDAX Clause in Contracts

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time date to EBITDAX for the four fiscal quarters period ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.25 to 1.01.00.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available available, beginning with the fiscal quarter ending September 30, 2014, to be greater than 3.5 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31, 20132021, permit its ratio of Total Debt as of such time date to EBITDAX for the four fiscal quarters Rolling Period ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 3.00 to 1.01.00 for each quarter ended thereafter.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, fiscal quarter commencing with the last day of the fiscal quarter ending March 31, 2013during which the Effective Date occurs, permit its the ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on such day (the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available “Total Leverage Ratio”) to be greater than 3.5 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time date to EBITDAX for the four fiscal quarters period ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 (i) 4.25 to 1.01.00 for each fiscal quarter ending December 31, 2011 through the fiscal quarter ending December 31, 2012, and (ii) 4.00 to 1.00 for each fiscal quarter ending after December 31, 2012.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March December 31, 2013, permit its ratio of Total Debt as of such time date (and for any fiscal quarter ending in calendar year 2014, less Cash Equivalents in excess of $10,000,000, if any, as of such date) to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 to 1.0.;”

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 5.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, fiscal quarter commencing with the first full fiscal quarter ending March 31, 2013after the Trigger Date, permit its ratio of Total Debt as of such time to Annualized EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 (i) 4.25 to 1.01.0 for the first two full fiscal quarters ending after the Trigger Date and (ii) 4.00 to 1.00 for each fiscal quarter thereafter.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt of the Borrower and the Restricted Subsidiaries as of such time day to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March December 31, 20132007, permit its ratio of Total Debt as of the end of such time fiscal quarter to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.. Notwithstanding anything to the contrary in the definition of “EBITDAX”, for purposes of this Section 9.01(a), EBITDAX shall be calculated as follows:

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time date to EBITDAX for the period of four consecutive fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 the following: Fiscal Quarter Ending Ratio March 31, 2011 through December 31, 2011 4.75 to 1.0.1.00 March 31, 2012 through June 30, 2012 4.25 to 1.00 September 30, 2012 and thereafter 4.00 to 1.00

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31September 30, 20132017, permit its ratio of Total Debt as of such time to EBITDAX for to exceed 4.00 to 1.00. EBITDAX shall be calculated at the four end of each fiscal quarters ending on quarter using the last day results of the twelve-month period ending with that fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0end.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 2.5 to 1.0. For the period ending March 31, 2006, the Ratio of Total Debt to EBITDAX shall be calculated after giving pro forma effect to the acquisition of K-Mc Venture I LLC.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the period of four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timeTest Period, commencing with the fiscal quarter Test Period ending March 31, 20132022, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available Test Period then ended to be greater than 3.5 3.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time date to EBITDAX for the period of the four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.00 to 1.01.00.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013set forth below, permit its ratio of Total Debt as of such time day to EBITDAX for the immediately preceding four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 the ratio set forth below: Fiscal Quarter Ending Ratio March 31, 2013 5.0 to 1.0 June 30, 2013 4.5 to 1.0 September 30, 2013 and thereafter 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of any time, commencing with the fiscal quarter ending March 31, 2013date of determination, permit its ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 4.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31September 30, 20132022, permit its ratio of Total Debt as of such time date to EBITDAX for the four fiscal quarters Rolling Period ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 3.00 to 1.01.00 for each quarter ended thereafter.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time date to EBITDAX for the four fiscal quarters period ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 (i) 4.25 to 1.01.00 for each fiscal quarter ending prior to March 31, 2013 and (ii) 4.00 to 1.00 for the fiscal quarter ending March 31, 2013 and each fiscal quarter thereafter.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013set forth below, permit its ratio of Total Debt as of such time day to EBITDAX for the immediately preceding four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 the ratio set forth below: Fiscal Quarter Ending Ratio December 31, 2013 5.0 to 1.0 March 31, 2014 5.0 to 1.0 June 30, 2014 and thereafter 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31, 20132008, permit its ratio of Total Debt as of the end of such time fiscal quarter to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.. Notwithstanding anything to the contrary in the definition of “EBITDAX”, for purposes of this Section 9.01(a), EBITDAX shall be calculated as follows:

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending on or after March 31, 2013, permit its ratio of Total Debt as of such time date to EBITDAX for the period of four fiscal quarters then ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.25 to 1.01.00.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March on or after December 31, 20132011, permit its ratio of Total Debt as of such time day to EBITDAX for the immediately preceding four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 the ratio set forth below: Period Ratio September 30, 2012 5.0 to 1.0 December 31, 2012 5.0 to 1.0 March 31, 2013 and thereafter 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of any time, commencing with the fiscal quarter ending March 31, 2013date of determination, permit its ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than (i) prior to November 30, 2005, 4.0 to 1.0, and (ii) thereafter, 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31September 30, 20132011, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 (i) 4.0 to 1.0.1.0 for any quarter ending on or before December 31, 2010 and (ii)

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, fiscal quarter commencing with the last day of the fiscal quarter ending March 31, 2013during which the Effective Date occurs, permit its the ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March 31, 2013quarter, permit its ratio of Total Debt as of such time to EBITDAX for to exceed 4.0 to 1.0. EBITDAX shall be calculated at the four end of each fiscal quarters ending on quarter using the last day results of the twelve-month period ending with that fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0end.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March December 31, 20132016, permit its ratio of (i) Total Debt as of such time date to (ii) EBITDAX for the four fiscal quarters Test Period ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31June 30, 20132014, permit its ratio of Total Debt as of such time date (and for any fiscal quarter ending in calendar year 2014, less Cash Equivalents in excess of $10,000,000, if any, as of such date) to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 to 1.0.;

Ratio of Total Debt to EBITDAX. The On or after January 1, 2007, the Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 4.0 to 1.0 for any period to and including December 31, 2007 and 3.5 to 1.01.0 for any period thereafter.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the period of four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at any time, commencing with the fiscal quarter ending March 31, 2013, permit its ratio of Total Debt as of such time to EBITDAX for the period of four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.0 to 1.0.”

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March December 31, 20132020, permit its ratio of Total Debt as of such time to EBITDAX for to exceed 3.50 to 1.00. EBITDAX shall be calculated at the four end of each fiscal quarters ending on quarter using the last day results of the 12-month period ending with that fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 to 1.0end.

Ratio of Total Debt to EBITDAX. The Borrower Company will not, at as of any time, commencing with the fiscal quarter ending March 31, 2013date of determination, permit its ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than 3.5 (i) prior to November 30, 2005, 5.0 to 1.0, and (ii) thereafter, 4.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any time, commencing with the fiscal quarter ending March on or after December 31, 20132011, permit its ratio of Total Debt as of such time day to EBITDAX for the immediately preceding four fiscal quarters ending on the last such day of the fiscal quarter immediately preceding the date of determination for which financial statements are available to be greater than 3.5 4.0 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of any time, commencing with the fiscal quarter ending March 31, 2013date of determination, permit its ratio of Total Debt as of such time day to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the such date of determination for which financial statements are available to be greater than (i) prior to March 31, 2005, 4.0 to 1.0, and (ii) thereafter, 3.5 to 1.0.

Ratio of Total Debt to EBITDAX. The Borrower will not, at as of the last day of any timefiscal quarter, commencing with the fiscal quarter ending March 31June 30, 20132022, permit its ratio of Total Debt as of such time to EBITDAX for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which financial statements are available Leverage Ratio to be greater than 3.5 3.0 to 1.0.