Examples of Annualized EBITDAX in a sentence
Q3 Estimated Annualized EBITDAX is calculated by multiplying the midpoint of company estimates for ESTE’s Q3 Estimated EBITDAX by four.
The Parent, OP LLC and the Borrower will not, as of the last day of any Test Period (commencing with the Test Period ending March 31, 2021), permit the ratio of Total Net Debt as of such date to EBITDAX (or, in the case of the Test Periods ending on March 31, 2021, June 30, 2021 and September 30, 2021, Annualized EBITDAX), in each case for the Parent and the Consolidated Restricted Subsidiaries for the Test Period ending on such date (the “Leverage Ratio”), to be greater than 3.00 to 1.00.
The Parent and the Borrower will not permit, as of the last day of any fiscal quarter commencing December 31, 2014, the Parent’s ratio of (i) Total Funded Debt as of such day to (ii) EBITDAX (or Annualized EBITDAX for the Rolling Periods ending on December 31, 2014, March 31, 2015, and June 30, 2015) for the Rolling Period ending on such day to be greater than 4.00 to 1.00.
The Parent, OP LLC and the Borrower will not, as of the last day of any fiscal quarter commencing with the first full fiscal quarter ending after the Trigger Date, permit the ratio of Total Debt as of such time to Annualized EBITDAX to be greater than (i) 4.25 to 1.0 for the first two full fiscal quarters ending after the Trigger Date and (ii) 4.00 to 1.00 for each fiscal quarter thereafter.
Annualized EBITDAX is based on WRD’s first quarter 2017 reported EBITDAX of $34.6 million and the acquisition asset’s estimated fourth quarter 2016 EBITDAX of approximately $15.75 million.