Cash Interest Coverage Ratio definition

Cash Interest Coverage Ratio. With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

Cash Interest Coverage Ratio means, on any date, the ratio of (a) Adjusted EBITDA to (b) Cash Interest Expense, in each case, for the applicable period of four consecutive fiscal quarters of the Company, all determined for the Company and its Subsidiaries on a consolidated basis in accordance with GAAP.

Cash Interest Coverage Ratio or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor as of such Relevant Test Period, as calculated by the Collateral Manager (on behalf of the Borrower) in good faith.

Examples of Cash Interest Coverage Ratio in a sentence

• The Parent and the Borrower will not permit the Consolidated Cash Interest Coverage Ratio as of the end of any fiscal quarter of the Parent to be less than 4.00 to 1.00.

• The Parent will as of the last day of each calendar quarter maintain a Cash Interest Coverage Ratio of not less than 3.00 to 1.00.

• The Parent will as of the last day of each calendar quarter for which financial statements have been delivered pursuant to Section 7.6 hereof, maintain a Cash Interest Coverage Ratio of not less than 3.00 to 1.00.

• Such compliance shall be measured on each Reference Date and certified by the Issuer in a Compliance Certificate to the Bond Trustee no later than five (5) Business Days after each Reference Date in relation to the Cash Interest Coverage Ratio and with each Compliance Certificate to the Bond Trustee pursuant to Clause 12.1.5 in relation to the Issuer Group LTV.

• Such Cash Interest Coverage Ratio shall be first tested as of the Fiscal Quarter ending immediately prior to the date on which Total Excess Availability is first less than or equal to $30,000,000 for which financial statements are available and shall continue to be tested for each Fiscal Quarter thereafter until such Fiscal Quarter in which the Borrowers maintain Total Excess Availability on each day thereof of at least $30,000,000.

More Definitions of Cash Interest Coverage Ratio

Cash Interest Coverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated EBITDA of Holdings and the Restricted Subsidiaries for such Test Period to (b) Consolidated Cash Interest Charges for such Test Period.

Cash Interest Coverage Ratio means, with respect to any Collateral Loan for any Relevant Test Period, the meaning of “Cash Interest Coverage Ratio” or comparable term set forth in the Related Documents for such Collateral Loan.

Cash Interest Coverage Ratio or comparable definition set forth in the underlying Investment Documents for such Debt Security or Senior Bank Loan Investment, or (b) in the case of any Debt Security or Senior Bank Loan Investment with respect to which the related underlying Investment Documents do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower in good faith.

Cash Interest Coverage Ratio means, with respect to any Loan Asset for any period, the meaning of “Interest Coverage Ratio” or any comparable definition in the Underlying Instruments for such Loan Asset, and in the case that “Interest Coverage Ratio” or such comparable definition is not defined in such Underlying Instruments, the ratio of (a) EBITDA for the applicable test period, to (b) cash interest for the applicable test period, as calculated by the Servicer in accordance with the Servicing Standard using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor as per the requirements of the related Underlying Instruments.

Cash Interest Coverage Ratio. “Permitted Liens” or “Total Net Leverage Ratio” or, in each case, any respective comparable terms for such Collateral Loan, in each case of clauses (x) and (y) above, in a manner that, in the reasonable discretion of the Administrative Agent, is materially adverse to the Secured Parties; or

Cash Interest Coverage Ratio means, with respect to any Collateral Loan for any Relevant Test Period, the meaning of “Cash Interest Coverage Ratio,” “Pro Forma Cash Interest Coverage Ratio” or any comparable term in the Related Documents for such Collateral Loan, and in any case that “Cash Interest Coverage Ratio,” “Pro Forma Cash Interest Coverage Ratio” or such comparable term is not defined in such Related Documents, the ratio, for such Collateral Loan, of (a) EBITDA for the Relevant Test Period, to (b) interest for the Relevant Test Period, in each case, as calculated by the Servicer in accordance with the Servicing Standard.

Cash Interest Coverage Ratio as of the last day of any Reference Period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.