FCCR Test means, for any trailing twelve month period ending September 30, 2011 or the last day of any calendar month thereafter, a Fixed Charge Coverage Ratio that is equal to or greater than 1.0 to 1.0, as evidenced by the Borrower's financial statements delivered to the Administrative Agent for the fiscal quarter ending September 30, 2011 or for any calendar month thereafter.
Upon the occurrence and during the continuation of a FCCR Trigger Event (including, for the avoidance of doubt, on any FCCR Initial Test Date), the Lead Borrower shall not permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.00 to 1.00 as of the last day of the applicable FCCR Test Period.
Parent and its Restricted Subsidiaries shall maintain, for each Test Period while a FCCR Test Event is in effect, a Fixed Charge Coverage Ratio of at least 1.0 to 1.0 commencing with the most recent Fiscal Quarter for which financial statements were, or were required to be, delivered hereunder prior to the occurrence of the FCCR Test Event.
During any FCCR Test Period, the Borrowers will not permit the Fixed Charge Coverage Ratio as of the last day of any period of four fiscal quarters ending during such FCCR Test Period, to be less than 1.00 to 1.00.
The Parent and its Subsidiaries shall maintain, as of the last day of each fiscal quarter during the occurrence and continuance of a FCCR Test Event, a Consolidated Fixed Charge Coverage Ratio of at least 1.0 to 1.0 for the Test Period ending on the last day of such fiscal quarter.
Borrowers will not permit the Fixed Charge Coverage Ratio as of the last day of any calendar month during any FCCR Test Period to be less than 1.10 to 1.00.