Coverage Ratio 1 definition
Coverage Ratio 1 means, with respect to the Parent and its consolidated Subsidiaries for any period, the ratio of (i) EBITDA for such period to (ii) Cash Interest Expense for such period.
Examples of Coverage Ratio 1 in a sentence
A Release may be effected if immediately after giving effect to the requested release, the better of the following tests are satisfied (i.e. the test which produces a lower Aggregate Loan to Value Ratio and a higher Aggregate Debt Service Coverage Ratio), (1) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio immediately prior to the release or (2) the Coverage and LTV Test.
The Parent shall maintain a Coverage Ratio 1 for each period of four consecutive fiscal quarters of the Parent (with the first date of determination to be the end of the four-fiscal quarter period ending with the fourth fiscal quarter of Fiscal Year 1996) of not less than 2.25:1.00.