Debt to EBITDA definition

Debt to EBITDA means, with respect to any Asset the ratio of (i) the aggregate principal amount of all Investment Obligor indebtedness senior to and pari passu with the Asset (including the Asset) to (ii) EBITDA for the most recent four calendar quarters.

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Debt to EBITDA. Ratio shall mean, as of the last day of any fiscal quarter, the ratio of (a) the outstanding balance of Borrowed Money Indebtedness on such date to (b) EBITDA for the Rolling Four Quarters ending on such date. Default shall mean an Event of Default or an event which with notice or lapse of time or both would, unless cured or waived, become an Event of Default. Dollars and $ shall mean lawful money of the United States of America. EBITDA shall mean, without duplication, for any period the sum of (a) Net Income less non-cash income and (b) the sum of (i) Interest Expense for such period, (ii) Federal, state and local income taxes deducted in determining such Net Income, (iii) amortization of goodwill and other non-cash expenses and intangibles (including, without limitation, patents, deferred financing costs and debt discount) deducted in determining such Net Income, (iv) depreciation, depletion and obsolescence of Property, in each case, determined in accordance with GAAP and (v) prepaid income to the extent actually paid in cash. Electrical Agreement shall mean that certain Agreement for Electrical Service dated as of July 31, 1995 executed by and among ▇▇▇▇▇▇▇▇ Electric Membership Corporation, Oglethorpe Power Corporation (An Electric Generation & Transmission Corporation) and Sterling Pulp (US) (and assigned or to be assigned by Sterling Pulp (US) to the Plant Owner), as the same may be amended, restated or supplemented. Environmental Claim shall mean any third party (including Governmental Authorities) action, lawsuit, claim or proceeding (including claims or proceedings at common law) which seeks to impose liability for (i) noise; (ii) pollution or contamination of the air, surface water, ground water or land or the clean up of such pollution or contamination; (iii) solid, gaseous or liquid waste generation, handling, treatment, storage, disposal or transportation; (iv) exposure to Hazardous Substances; or (v) the manufacture, processing, distribution in commerce or use of Hazardous Substances. An "Environmental Claim" includes, but is not limited to, a common law action, as well as a proceeding to issue, modify or terminate an Environmental Permit. Environmental Liabilities includes all liabilities arising from any Environmental Claim, Environmental Permit or Requirement of Environmental Law under any theory of recovery, at law or in equity, and whether based on negligence, strict liability or otherwise, including but not limited to: remedial, removal...

Debt to EBITDA. RATIO shall mean, as of any day, the ratio of (a) the outstanding balance of Indebtedness on such date to (b) EBITDA for the Rolling Four Quarters as of such date. DEFAULT shall mean an Event of Default or an event which with notice or lapse of time or both would, unless cured or waived, become an Event of Default. DOLLARS and $ shall mean lawful money of the United States of America.

Examples of Debt to EBITDA in a sentence

The Total Debt to EBITDA Ratio will not exceed 4.0 to 1.0 at the end of any fiscal quarter.
The Company will not, and will not permit any Subsidiary to, incur, directly or indirectly, any Indebtedness unless the pro forma Net Debt to EBITDA Ratio at the date of such incurrence is less than 3.00 to 1.00.
Noncompliance with the maximum Senior Debt to EBITDA ratio set forth in Section 7.15(f)(i) of the Credit Agreement.
Noncompliance with the maximum Total Debt to EBITDA ratio set forth in Section 7.15(f)(ii) of the Credit Agreement.
Maintain a Debt to EBITDA Ratio, as at the end of each fiscal quarter of the Borrower, of not more than 4.0:1.0.
Not permit the Funded Debt to EBITDA Ratio as of the last day of any Computation Period to exceed 2.50:1.0.
The Funded Debt to EBITDA Ratio shall be calculated and tested quarterly as of the last day of each Fiscal Quarter for the Calculation Period ending on the last day of such Fiscal Quarter.
In that event, the Margin for that Utilisation shall be the rate per annum specified opposite the relevant range set out in the table above of the revised ratio of Net Debt to EBITDA calculated using the figures in that Compliance Certificate.
The Borrower shall, at all times, maintain a Total Net Debt to EBITDA Ratio of not more than 3.50:1.00, on a rolling four-quarter basis.
To maintain, with respect to GSE on a consolidated basis, a ratio of Funded Debt to EBITDA not exceeding 2.50:1.00.

More Definitions of Debt to EBITDA

Debt to EBITDA means, with respect to any Test Period, the quotient of (i) the Principal Indebtedness, divided by (ii) EBITDA for such Test Period.

Debt to EBITDA means, for any date of determination and each case as set forth in the Borrower’s financial statements and calculated in accordance with GAAP, the ratio of (i) the sum of Interesting Bearing Debt, to (ii) Adjusted EBITDA.