Total Debt/EBITDA Ratio. The ratio which (i) the Total Debt of the Borrower and its Consolidated Subsidiaries at the end of any Fiscal Quarter, commencing with the Fiscal Quarter ended closest to June 30, 1999, bears to (ii) the EBITDA of the Borrower and its Consolidated Subsidiaries, measured on a rolling four (4) Fiscal Quarters' basis as of the end of such Fiscal Quarter (the "Total Debt/EBITDA Ratio"), shall be (i) not more than 4.00:1, for the Fiscal Quarters ending closest to June 30, 1999, September 30, 1999 and December 31, 1999, (ii) not more than 3.75:1 for the Fiscal Quarters ending closest to March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 and (iii) not more than 3.50:1 for each Fiscal Quarter ending thereafter. In computing EBITDA in respect of the foregoing ratio and the ratio set forth in Section 5.7, (a) any asset or stock dispositions by the Borrower consisting of the sale of a business line, segment or other group of related stores occurring within a Fiscal Quarter shall be accounted for by reducing EBITDA by the individual EBITDA attributable to each store within such group for such Fiscal Quarter and the three (3) preceding Fiscal Quarters or, in the event that any such store had negative individual EBITDA for such periods, by increasing EBITDA by the amount of such negative EBITDA; and (b) any asset or stock acquisitions by the Borrower consisting of the purchase of a business, line, segment or other group of related stores occurring within a Fiscal Quarter shall be accounted for by increasing EBITDA by the individual EBITDA attributable to each store within such group for such Fiscal Quarter and for the three (3) preceding Fiscal Quarters or, in the event that any such store had negative individual EBITDA for such periods, by decreasing EBITDA by the amount of such negative EBITDA; in each instance, on an historical basis, in a manner which Borrower shall determine, but subject to prior review with, and approval by, the Administrative Agent.
Total Debt/EBITDA Ratio. Borrower shall not permit its Total Debt to EBITDA Ratio as of the end of any of the following Fiscal Quarters to exceed the respective ratio shown opposite thereto: Maximum Total Fiscal Quarter Debt to EBITDA Ratio ------------------------------ -------------------- Fourth Fiscal Quarter, 1997 6.75 to 1 First Fiscal Quarter, 1998 7.25 to 1 Second Fiscal Quarter, 1998 6.00 to 1 Third Fiscal Quarter, 1998 and any Fiscal Quarter thereafter 5.00 to 1
Total Debt/EBITDA Ratio. Maintain at the end of each fiscal quarter of the Domestic Borrower a Total Debt/EBITDA Ratio of not more than the amount set forth below for each period set forth below: ======================================== DURING QUARTER ENDING RATIO ======================================== December 31, 2000 5.50:1 March 31, 2001 5.60:1 June 30, 2001 5.60:1 September 30, 2001 5.50:1 December 31, 2001 5.50:1 ======================================== 3 3 March 31, 2002 5.25:1 June 30, 2002 5.25:1 September 30, 2002 5.25:1 December 31, 2002 5.25:1 March 31, 2003 5.00:1 June 30, 2003 5.00:1 September 30, 2003 5.00:1 December 31, 2003 5.00:1 March 31, 2004 5.00:1 June 30, 2004 5.00:1 September 30, 2004 5.00:1 December 31, 2004 5.00:1 March 31, 2005 4.75:1 and thereafter
Total Debt/EBITDA Ratio. The attachment hereto shows the calculation of the ratio referred to in Section 11.1.1.13.4 of the Loan Agreement.
Total Debt/EBITDA Ratio. Borrower to maintain a maximum ratio of Total Debt/EBITDA of *** to ***. "Total Debt" means Borrower's outstanding senior debt plus Standby Letters of Credit issued by Xxxxxx. "EBITDA" means net earnings before interest expense, taxes, depreciation, amortization, and other adjustments reasonably acceptable to Lender in its sole discretion ( *** ), calculated on a rolling *** fiscal quarter basis. This ratio must be maintained at all times and may be evaluated quarterly.
Total Debt/EBITDA Ratio. Not permit the Total Debt/EBITDA Ratio for any period of four consecutive Fiscal Quarters ending on any Fiscal Quarter end to exceed the ratio limits set out below: FISCAL QUARTER RATIO LIMIT -------------- ----------- Each of the last 2 Fiscal Quarters of the 1999 Fiscal Year and the first 3 Fiscal Quarters of the 2000 Fiscal Year 3.25:1 Each of the last Fiscal Quarter of the 2000 Fiscal Year and the first 3 Fiscal Quarters of the 2001 Fiscal Year 2.75:1 Each of the last Fiscal Quarter of the 2001 Fiscal Year and the first 3 Fiscal Quarters of the 2002 Fiscal Year 2.75:1 Each Fiscal Quarter ending on or after December 31, 2002 2.00:1
Total Debt/EBITDA Ratio. The ratio which (i) the Total Debt of the Lessee and its Consolidated Subsidiaries at the end of any Fiscal Quarter, commencing with the Fiscal Quarter ended closest to October 1, 2000, bears to (ii) the EBITDA of the Lessee and its Consolidated Subsidiaries, measured on a rolling four (4) Fiscal Quarters' basis as of the end of such Fiscal Quarter (the "Total Debt/EBITDA Ratio"), shall be not more than the ratio prescribed below as of the end of each Fiscal Quarter corresponding thereto: ---------------------------------------- ------------------------------ Fiscal Quarter Ending: Ratio ---------------------------------------- ------------------------------ October 1, 2000 6.00:1 ---------------------------------------- ------------------------------ December 31, 2000 4.70:1 ---------------------------------------- ------------------------------ April 4, 2001 4.45:1 ---------------------------------------- ------------------------------ July 1, 2001 4.40:1 ---------------------------------------- ------------------------------ September 30, 2001 4.10:1 ---------------------------------------- ------------------------------ December 30, 2001 3.90:1 ---------------------------------------- ------------------------------ March 31, 2002 and thereafter 3.75:1 ---------------------------------------- ------------------------------ In computing EBITDA in respect of the foregoing ratio and the ratio set forth in Section 5.7 below and the minimum amount of EBITDA set forth in Section 5.7A below, (a) any asset or stock dispositions by the Lessee consisting of the sale of a business line, segment or other group of related restaurants occurring within a Fiscal Quarter shall be accounted for by reducing EBITDA by the individual EBITDA attributable to each store within such group for such Fiscal Quarter and the three (3) preceding Fiscal Quarters or, in the event that any such restaurant had negative individual EBITDA for such periods, by increasing EBITDA by the amount of such negative EBITDA; and (b) any asset or stock acquisitions by the Lessee, to the extent otherwise then permitted to occur hereunder (and without implying such permission), consisting of the purchase of a business, line, segment or other group of related restaurants occurring within a Fiscal Quarter shall be accounted for by increasing EBITDA by the individual EBITDA attributable to each store within such group for such Fiscal Quarter and for the three (3) preceding Fiscal Quarters or, in the event...
Total Debt/EBITDA Ratio. Maintain at the end of each fiscal quarter of the Borrower a Total Debt/EBITDA Ratio of not more than the amount set forth below for each period set forth below: DURING FISCAL YEAR ENDING RATIO ------- December 31, 2000 5.50:1 December 31, 2001 5.50:1 December 31, 2002 5.25:1 December 31, 2003 5.00:1 December 31, 2004 5.00:1 December 31, 2005 4.75:1 and thereafter
Total Debt/EBITDA Ratio. Maintain at the end of each fiscal quarter of the Domestic Borrower a Total Debt/EBITDA Ratio of not more than the amount set forth below for each period set forth below: ============================================== DURING FISCAL YEAR ENDING RATIO ================ December 31, 2000 5.50:1 December 31, 2001 5.50:1 December 31, 2002 5.25:1 December 31, 2003 5.00:1 ============================================== Credit Agreement 83 December 31, 2004 5.00:1 December 31, 2005 4.75:1 and thereafter ============================================
Total Debt/EBITDA Ratio. Maintain a ratio of ----------------------- Consolidated Total Debt to Consolidated EBITDA of not more than the amount set forth below for each period of four consecutive fiscal quarters ended at the dates set forth below: Quarter Ending Ratio -------------- ----- September 30, 1995 6.85:1.00 December 31, 1995 5.25:1.00 March 31, 1996 5.25:1.00 June 30, 1996 5.25:1.00 September 30, 1996 5.00:1.00 December 31, 1996 4.75:1.00 March 31, 1997 4.75:1.00 June 30, 1997 4.75:1.00 September 30, 1997 4.55:1.00 December 31, 1997 4.35:1.00 March 31, 1998 4.35:1.00 June 30, 1998 4.35:1.00 September 30, 1998 4.15:1.00 December 31, 1998 4.00:1.00 March 31, 1999 4.00:1.00 June 30, 1999 4.00:1.00 September 30, 1999 3.85:1.00 December 31, 1999 3.75:1.00 (c) Capital Expenditures. Not make, or permit -------------------- any of its Subsidiaries to make, any Capital Expenditures that would cause the aggregate of all such Capital Expenditures made by the Borrower and its Subsidiaries in any fiscal year ended on the dates set forth below to exceed the amount set forth below for such fiscal year: Year Ended Amount ---------- ------ December 31, 1995 $275,000,000 December 31, 1996 250,000,000 December 31, 1997 225,000,000 December 31, 1998 225,000,000 December 31, 1999 225,000,000 plus for any fiscal year Debt Proceeds and Equity Proceeds ---- to the extent not required to reduce Debt in accordance with Section 2.06 and not used to make Investments; provided that -------- any Capital Expenditure permitted but not made in a prior year (commencing with the year 1995) may be carried forward and added to the amounts set forth above.
