Consolidated Fixed Charges Ratio means, as at any date, the ratio of (a) the total of (i) EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date plus (ii) Related Retail Sale-Leaseback Proceeds but only to the extent that such proceeds are received by a Credit Party and the Construction Capital Expenditures for the property which is the subject of the Sale-Leaseback Transaction were made during such period minus (iii) the aggregate amount of all Non-Financed Capital Expenditures made during such period plus (iv) any increase in Deferred Revenues during such period minus (iv) any decrease in Deferred Revenues during such period, to (b) the sum for the Credit Parties (determined on a consolidated basis without duplication in accordance with GAAP) of the following: (i) Cash Interest Expense for such period, plus (ii) all regularly scheduled payments of principal on any Indebtedness (including the Term Loans and the principal component of any payments in respect of Capital Lease Obligations, but excluding any prepayments pursuant to Section 2.10) for such period plus (iii) the aggregate amount paid, or required to be paid (without duplication as between fiscal periods), in cash in respect of income, franchise and other like taxes (excluding real estate taxes) for such period (to the extent not deducted in determining EBITDA for such period) plus (iv) Permitted Tax Distributions to the extent paid in cash during such period plus (v) any payments in respect of deferred compensation or the Phantom Stock Agreements, in each case, to the extent paid in cash during such period.
Consolidated Fixed Charges Ratio means the ratio of (i) the Borrower's Consolidated EBITDA to (ii) the Current Maturities of the Borrower's Funded Debt plus all cash and non-cash interest (including, without limitation, capitalized interest) payable during the relevant Test Period on or in connection with any Indebtedness of the Borrower of any type, in each case determined for the relevant Test Period on a Consolidated basis in accordance with GAAP, consistently applied.
Consolidated Fixed Charges Ratio set forth therein and to replace it with the following -
Examples of Consolidated Fixed Charges Ratio in a sentence
Section 7.11(b) of the Credit Agreement is hereby amended in its entirety to read as follows:(b) Consolidated Fixed Charges Ratio.
Permit at any time its Consolidated Fixed Charges Ratio to exceed 1.50 to 1.00, tested no less frequently than quarterly for each Test Period and determined in each case in accordance with GAAP, consistently applied.
Borrower will not permit the Consolidated Fixed Charges Ratio to be less than 2.50 to 1.00 on of the last day of any of its fiscal quarters, beginning with the fiscal quarter ending February 28, 2005 (and tested on the Effective Date by reference to the Calculation Period ending on February 28, 2005 and after giving pro forma effect to the Transactions and the borrowings made hereunder as if such transactions had occurred on February 28, 2005).
The Borrower will not permit the Cash Flow to Consolidated Fixed Charges Ratio for any Test Period ending on the last day of a calendar quarter ending prior to the last Maturity Date under this Agreement to be less than 1.25:1.00.
The Credit Parties will not permit the Consolidated Fixed Charges Ratio as at the last day of any fiscal quarter to be less than 1.05 to 1.
More Definitions of Consolidated Fixed Charges Ratio
Consolidated Fixed Charges Ratio means the ratio of Consolidated EBITDA to Consolidated Fixed Charges for the four fiscal quarters immediately preceding such event for which financial information is available consistent with the Company's prior practice, taken as one period and calculated on the assumption that the Company's Indebtedness had been incurred on the first day of such four-quarter period and, in the case of Acquired Indebtedness, on the assumption that the related acquisition (whether by means of purchase, merger or otherwise) also had occurred on such date with the appropriate adjustments with respect to such acquisition being included in such pro forma calculation.
Consolidated Fixed Charges Ratio at any date of determination thereof, the ratio of (a) Consolidated EBITDA for the period of one year ending on such date of determination to (b) Consolidated Fixed Charges for the period of one year ending on such date of determination.
Consolidated Fixed Charges Ratio means for any Calculation Period, the ratio of (a) (i) Sxxx EBITDA for such Calculation Period less (ii) Non-Financed Capital Expenditures plus (iii) the Net Cash Proceeds from the sale of any asset and which is allocated to any such asset as part of such sale, which would be classified as a fixed or capital asset on a consolidated balance sheet of the Consolidated Group prepared in accordance with Agreement Accounting Principles but excluding those expenditures incurred to replace assets lost due to casualty or condemnation, provided that the proceeds from insurance or condemnation are used to pay therefor; to (b) the sum of (i) Consolidated Interest Expense excluding any amortization of financing fees, amortization of discounts and other interest expenses not paid in cash, (ii) mandatory scheduled principal payments on any Indebtedness (other than principal due upon the Facility Termination Date and amounts to be paid in connection with the tender for the Borrower’s notes evidencing its term debt), (iii) taxes paid in cash and determined, directly or indirectly, by the income of the Borrower or any Person in the Consolidated Group, and (iv) any reimbursement payments made in respect of disbursements under the Excluded SPV Letters of Credit (but without double-counting of any such payments and amounts referred to in any of the preceding clauses (i), (ii) and (iii)).
Consolidated Fixed Charges Ratio means, as at any date, the ratio of (a) Consolidated Operating Cash Flow for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) the sum for the Borrower and its Consolidated Subsidiaries (determined on a consolidated basis without duplication in accordance with GAAP) of the following: (i) Debt Service for such period PLUS (ii) the aggregate amount of all Capital Expenditures made during such period after subtracting therefrom the aggregate amount of Related Retail Sale-Leaseback Proceeds received during such period PLUS (iii) the aggregate amount paid, or required to be paid (without duplication as between fiscal periods), in cash in respect of income, franchise and other like taxes (excluding real estate taxes) for such period (to the extent not deducted in determining Consolidated Operating Cash Flow for such period).
Consolidated Fixed Charges Ratio for any period the ratio of (i) Consolidated EBITDA for such period to (ii) Consolidated Fixed Charges for such period.
Consolidated Fixed Charges Ratio means, as at any date, the ratio of (a) Consolidated Operating Cash Flow for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) the sum for the Credit Parties (determined on a consolidated basis without duplication in accordance with GAAP) of the following: (i) Debt Service for such period PLUS (ii) the aggregate amount of all Non-Financed Capital Expenditures made during such period after subtracting therefrom the aggregate amount of Related Retail Sale-Leaseback Proceeds received during such period PLUS (iii) the aggregate amount paid, or required to be paid (without duplication as between fiscal periods), in cash in respect of income, franchise and other like taxes (excluding real estate taxes) for such period (to the extent not deducted in determining Consolidated Operating Cash Flow for such period). Notwithstanding anything to the contrary herein, amounts otherwise included in Non-Financed Capital Expenditures consisting of capital expenditures in connection with the Borrower's acquisition of Real Estate Holdings in the maximum amount not to exceed $11,750,000 shall not be included in the calculation of Non-Financed Capital Expenditures for the Borrower's fiscal year ending December 31, 1999.
Consolidated Fixed Charges Ratio means, for any Calculation Period, the ratio of (a) (i) Xxxx EBITDA for such Calculation Period less (ii) Non-Financed Capital Expenditures plus (iii) the Net Cash Proceeds from the sale of any asset and which is allocated to any such asset as part of such sale, which would be classified as a fixed or capital asset on a consolidated balance sheet of the Consolidated Group prepared in accordance with Agreement Accounting Principles but excluding those expenditures incurred to replace assets lost due to casualty or condemnation, provided that the proceeds from insurance or condemnation are used to pay therefor; to (b) the sum of (i) interest payments in cash on any Indebtedness, (ii) mandatory scheduled principal payments on any Indebtedness (other than principal due upon the Facility Termination Date and amounts to be paid in connection with the tender for the Borrower’s notes evidencing its term debt) plus (iii) taxes paid in cash and determined, directly or indirectly, by the income of the Borrower or any Person in the Consolidated Group. The calculation of Fixed Charges Ratio shall be calculated beginning in the second fiscal quarter of the fiscal year ending August 31, 2005 after giving pro forma effect to the consummation of the Transactions.