Examples of Consolidated EBITDAX in a sentence
As used herein, with respect to any fiscal quarter, “Consolidated Leverage Ratio” means the ratio of (A) Consolidated Funded Indebtedness as of the end of such fiscal quarter to (B) Consolidated EBITDAX for the trailing four fiscal quarter period ending on the last day of such fiscal quarter.
The Borrowers will not permit the ratio of (a) Consolidated EBITDAX to (b) Consolidated Cash Interest Expense, in each case for any period of four consecutive fiscal quarters, to be less than 2.50 to 1.00.
For purposes of this Section 7.14, “Annualized EBITDAX” means (i) with respect to the Fiscal Quarter ending June 30, 2013, Adjusted Consolidated EBITDAX for the period commencing on October 1, 2012 through June 30, 2013 multiplied by 4/3; and (ii) for each Fiscal Quarter thereafter, Adjusted Consolidated EBITDAX for the four consecutive Fiscal Quarters then ended.
As of the end of each Fiscal Quarter, beginning September 30, 2013, the ratio of (i) Consolidated Funded Debt as of the end of such Fiscal Quarter to (ii) Adjusted Consolidated EBITDAX for such Fiscal Quarter, shall not exceed 4.5 to 1.0. The ratios in this Section 7.14(b) with respect to the Fiscal Quarter commencing with the Fiscal Quarter ending September 30, 2013 shall be calculated using “Annualized EBITDAX”.
The Borrower (a) shall not permit, as of the last day of each fiscal quarter, the ratio of (i) the Consolidated EBITDAX of the Borrower and its Subsidiaries for the four fiscal quarters then ended, to (ii) the consolidated Interest Expense of the Borrower and its Subsidiaries for the four fiscal quarters then ended, to be less than 2.50 to 1.00.