Consolidated Adjusted Fixed Charge Coverage Ratio means, at any date of determination for the purpose of determining whether a particular Restricted Payment or prepayment of Indebtedness (each a “Subject Transaction”) may be consummated pursuant to the terms of this Agreement, the ratio of (a) Consolidated EBITDA for such period minus (i) Capital Expenditures (other than in connection with Permitted Acquisitions) made during such period minus (ii) the aggregate amount of Federal, state, local and foreign income taxes paid in cash or required to be paid in cash during such period to (b) the sum of (i) Debt Service Charges (other than prepayments of principal in the Subject Transaction) plus (ii) the aggregate amount of all Restricted Payments made in cash (other than those made in the Subject Transaction and, if the Subject Transaction is a repurchase of equity interests, all repurchases related to such Subject Transaction that have previously been made as part of a single stock repurchase plan approved by the board of directors of the Lead Borrower, if any), in each case, of or by the Lead Borrower and the other Loan Parties for the most recently completed Measurement Period, all as determined on a consolidated basis in accordance with GAAP.
Consolidated Adjusted Fixed Charge Coverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated EBITDAR of the Group for such Test Period minus Capital Expenditures to (b) Fixed Charges of the Group for such period.
Consolidated Adjusted Fixed Charge Coverage Ratio has the meaning specified in the First Lien Credit Agreement.
Examples of Consolidated Adjusted Fixed Charge Coverage Ratio in a sentence
Except with the written consent of the Required Pro Rata Lenders, the Consolidated Adjusted Fixed Charge Coverage Ratio of the Companies as of the last day of any Test Period (commencing with the last day of the first full fiscal quarter of the Companies commencing after the Closing Date) to be less than 1.50:1.00.
Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test contained in this Agreement with respect to any period during which any Specified Transaction occurs, the Total Leverage Ratio, the First Lien Senior Secured Leverage Ratio, the Fixed Charge Coverage Ratio and the Consolidated Adjusted Fixed Charge Coverage Ratio shall be calculated with respect to such period and such Specified Transaction on a Pro Forma Basis.
Level required pursuant to Section 7.09(a) 5.00:1.00 Consolidated Adjusted Fixed Charge Coverage Ratio.
The Borrower shall not permit the Consolidated Adjusted Fixed Charge Coverage Ratio for any period of 12 consecutive calendar months to be less than 1.35 to 1.
The Borrower shall not, at any time after the BERS Acquisition, permit the ratio of Debt to Consolidated Tangible Net Worth in any period set forth below to be more than the ratio stated below for such period: Period Maximum Ratio ------ ------------- Through 12/30/96 4.00 to 112/31/96 through12/30/973.75 to 112/31/97 through12/30/983.25 to 1After 12/30/98 2.50 to 1 Section 5.17 Consolidated Adjusted Fixed Charge Coverage Ratio.
More Definitions of Consolidated Adjusted Fixed Charge Coverage Ratio
Consolidated Adjusted Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) the difference of (i) Consolidated EBITDAR for the four fiscal quarter period ending on such date, minus (ii) an amount equal to $150,000 (representing assumed maintenance capital expenditures) multiplied by the average daily number of physical dealership locations at which the Subsidiaries operated franchised vehicle dealerships during such period to (b) the sum of (i) Consolidated Fixed Charges for such period plus Restricted Payments paid in cash by the Company and its Subsidiaries on a consolidated basis during such period.
Consolidated Adjusted Fixed Charge Coverage Ratio means, at any date of determination, the ratio of (a) Consolidated EBITA for the most recently completed Measurement Period, to (b) the sum of (i) Consolidated Interest Charges (net of cash income from Investments) payable in cash, (ii) the aggregate principal amount of all regularly scheduled principal payments of outstanding Indebtedness for borrowed money, (iii) all dividends or other distributions with respect to any Equity Interests of the Company or any Subsidiary payable in cash, and (iv) the aggregate amount of Federal, state, local, and foreign income taxes paid in cash, in each case, for or by the Company and its Subsidiaries for or during such Measurement Period.
Consolidated Adjusted Fixed Charge Coverage Ratio means, at any date of determination for the purpose of determining whether a particular Restricted Payment or prepayment of Indebtedness (each a “Subject Transaction”) may be consummated pursuant to the terms of this Agreement, the ratio of (a) Consolidated EBITDA for such period minus (i) Capital Expenditures (other than in connection with Permitted Acquisitions) made during such period minus (ii) the aggregate amount of Federal, state, local and foreign income taxes paid in cash or required to be paid in cash during such period to (b) the sum of (i) Debt Service Charges (other than prepayments of principal in the Subject Transaction and, if the Subject Transaction is a prepayment of Seller Notes, all other prior prepayments of Seller Notes) plus (ii) the aggregate amount of all Restricted Payments made in cash (other than those made in the Subject Transaction and, if the Subject Transaction is a repurchase of equity interests, all repurchases related to such Subject Transaction that have previously been made as part of a single stock repurchase plan approved by the board of directors of the Lead Borrower, if any), in each case, of or by the Lead Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in accordance with GAAP. For the avoidance of doubt, Permitted Tax Distributions shall not be taken into account in any calculation of the Consolidated Adjusted Fixed Charge Coverage Ratio for any purpose hereunder except to the extent that such Permitted Tax Distribution shall exceed $50,000,000 and then only shall such incremental amount be taken into account in any calculation of Consolidated Adjusted Fixed Charge Coverage Ratio.
Consolidated Adjusted Fixed Charge Coverage Ratio means, at any date of determination for the purpose of determining whether a particular Restricted Payment or prepayment of Indebtedness (each a “Subject Transaction”) may be consummated pursuant to the terms of this Agreement, the ratio of (a) Consolidated EBITDA for such period minus (i) Capital Expenditures (other than in connection with Permitted Acquisitions) made during such period minus (ii) the aggregate amount of Federal, state, local and foreign income taxes paid in cash or required to be paid in cash during such period to(b) the sum of (i) Debt Service Charges (other than prepayments of principal in the Subject Transaction) plus (ii) the aggregate amount of all Restricted Payments made in cash (other than those made in the Subject Transaction and, if the Subject Transaction is a repurchase of equity interests, all repurchases related to such Subject Transaction that have previously been made as part of a single stock repurchase plan approved by the board of directors of the Lead Borrower, if any), in each case, of or by the Lead Borrower and the other Loan Parties for the most recently completed Measurement Period, all as determined on a consolidated basis in accordance with GAAP.
Consolidated Adjusted Fixed Charge Coverage Ratio means, for any period the ratio of (x) Consolidated Adjusted EBITDA for such period to (y) Consolidated Fixed Charges for such period.
Consolidated Adjusted Fixed Charge Coverage Ratio means, as of the end of any fiscal quarter, for the four fiscal quarters ending on such date, for the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) the sum of (i) Consolidated EBITDA during such period plus (ii) Operating Lease and Rental Expense during such period minus (iii) Capital Expenditures minus (iv) the current portion of income tax expense during such period (which amount shall be adjusted upward by the amount of the current tax benefit to the Borrower from the Connecticut Settlement and the current tax benefit related to losses on the sales of Subsidiaries or the disposition of substantially all assets of a Subsidiary and adjusted downward by the net amount of the current income taxes by the Borrower and its Subsidiaries relating to gains on the sales of Subsidiaries or the disposition of substantially all assets of a Subsidiary) to (b) Consolidated Adjusted Fixed Charges during such period. For purposes of this definition, “Consolidated Adjusted Fixed Charges” means for any period for the Borrower and its Subsidiaries on a consolidated basis, the sum of (without duplication) (a) Consolidated Interest Charges paid in cash during such period, (b) scheduled principal payments of Indebtedness and other mandatory payments during the next ensuing four fiscal quarters of the Borrower and its Subsidiaries (but excluding the Outstanding Amount of Revolving Loans), (c) Ordinary Dividends paid by the Borrower during such period, (d) Operating Lease and Rental Expense during such period, and (e) Restricted Payments made during such period.
Consolidated Adjusted Fixed Charge Coverage Ratio means, at any date of determination for the purpose of determining whether a particular Restricted Payment or prepayment of Indebtedness (each a “Subject Transaction”) may be consummated pursuant to the terms of this Agreement, the ratio of (a) Consolidated EBITDA for such period minus (i) Capital Expenditures (other than in connection with Permitted Acquisitions) made during such period minus (ii) the aggregate amount of Federal, state, local and foreign income taxes paid in cash or required to be paid in cash during such period to (b) the sum of (i) Debt Service Charges (other than prepayments of principal in the Subject Transaction and, if the Subject Transaction is a prepayment of the Seller Note, all other prior prepayments of the Seller Note) plus (ii) the aggregate amount of all Restricted Payments made in cash (other than those made in the Subject Transaction and, if the Subject Transaction is a repurchase of equity interests, all repurchases related to such Subject Transaction that have previously been made as part of a single stock repurchase plan approved by the board of directors of the Lead Borrower, if any), in each case, of or by the Lead Borrower and the other Loan Parties for the most recently completed Measurement Period, all as determined on a consolidated basis in accordance with GAAP.