Fixed Charge Coverage definition
Fixed Charge Coverage means, for any period, Operating Cash Flow divided by Fixed Charges.
Fixed Charge Coverage will be calculated as illustrated on Exhibit 4.8(C).
Fixed Charge Coverage means the ratio of (a) the sum of EBITDA, to (b) the sum of (without duplication) (i) Interest Expense for such period, (ii) the sum of the scheduled current maturities (determined on a Consolidated basis in accordance with GAAP) of Total Funded Debt during the period in question, and (iii) all amount payable with respect to Capital Lease Obligations for the period in question.
Examples of Fixed Charge Coverage in a sentence
The Trustee shall not be deemed to be required to calculate any Fixed Charges, Treasury Rates, Additional Amounts, any make-whole amount, any Fixed Charge Coverage Ratio or other coverage ratio, or otherwise.
Maintain a Fixed Charge Coverage Ratio as of the last day of each Fiscal Quarter, determined on the basis of the most recently completed four consecutive Fiscal Quarters ending on such day, of not less than 2.00:1.00.
Permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter of the Parent to be less than 1.50 to 1.00.
Each item of Indebtedness, Disqualified Stock or Preferred Stock that is incurred or issued, each Lien incurred and each other transaction undertaken will be deemed to have been incurred, issued or taken first, to the extent available, pursuant to the relevant Fixed Charge Coverage Ratio, Consolidated Secured Debt Ratio or Consolidated Total Debt Ratio test.
Permit the Consolidated Fixed Charge Coverage Ratio at any time to be less than 1.20 to 1.00.
More Definitions of Fixed Charge Coverage
Fixed Charge Coverage means for any period the ratio derived by dividing (a) the sum of net income for such period (before income taxes, patronage dividends, and extraordinary items) plus Fixed Charges by (b)
Fixed Charge Coverage shall be determined in accordance with the definition set forth in the "Fixed Charge Coverage" covenant of this Article V.
Fixed Charge Coverage. Ratio - as of any date of determination, the ratio of the Borrower's (a) EBITDAR for the immediately preceding four (4) fiscal quarters, to (b) total Fixed Charges for such period. Fixed Charges - for any period, sum of the Borrower's (i) total principal payments with respect to all Indebtedness for Money Borrowed (including the principal portion of payments under Capital Leases and Subordinated Debt during such period), plus (ii) Interest Expense during such period plus (iii) Rental Expense during such period plus (iv) income tax expense during such period. Funded Debt - as of any date of determination, (i) all Indebtedness for Money Borrowed, including the principal portion of all Capital Lease obligations and all Subordinated Debt plus (ii) all Rental Expense paid during the immediately preceding four (4) fiscal quarters multiplied by 6. GAAP - generally accepted accounting principles in the United States of America in effect from time to time. General Intangibles - all general intangibles of Borrower whether now owned or hereafter created or acquired by Borrower relating or pertaining to Inventory or pertaining to Accounts. Indebtedness - as applied to a Person means, without duplication (i) all items which in accordance with GAAP would be included in determining total liabilities as shown on the liability side of a balance sheet of such Person as at the date as of which Indebtedness is to be determined, including, without limitation, capitalized lease obligations, (ii) all obligations of other Persons which such Person has guaranteed and (iii) in the case of Borrower (without duplication), the Obligations. Intercreditor Agreement - the Second Amended and Restated Intercreditor and Security Agreement, dated of even date herewith, among NationsBank (in its capacity as "collateral agent" thereunder and in its capacity as a lender under the NationsBank Loan Agreement), ABN, Lender and Borrower, as amended, modified, supplemented or restated from time to time. Interest Expense - shall mean, for any period of calculation, the aggregate of all interest paid or accrued by the Borrower during such period, as determined in accordance with GAAP.
Fixed Charge Coverage. Ratio is defined as follows: Interest expense (whether cash or non-cash) deducted in the determination of Consolidated Net Income, including interest expense with respect to any Funded Debt and interest expense that has been capitalized $__________ LESS: Amortization of capitalized fees and expenses incurred with respect to the Related Transactions included in interest expense above ___________ Amortization f any original discount attributable to any Funded Debt or warrants included in interest expense above ___________ Interest paid in kind and included in interest expense above ___________ Imputed interest or other non-cash interest related to swap or other interest rate agreements ___________ Interest Expense* $__________ PLUS: Scheduled payments of principal with respect to all Indebtedness** ___________ Fixed Charges $__________ Fixed Charge Coverage Ratio (Operating Cash Flow from above, DIVIDED BY Fixed Charges) __________ * During the period from the Closing Date through the Fiscal Quarter ended September 30, 2007, cash Interest Expense shall be calculated for the period commencing on the Closing Date and ending on the date most recently ended for which a Compliance Certificate is delivered to Agent divided by the number of days in such period and multiplied by 360 days. Thereafter, cash Interest Expense shall be calculated for the twelve (12) month period ending on the date most recently ended for which a Compliance Certificate is delivered to Agent. **For calculations as of December 31, 2006, scheduled payments of principal with respect to all Indebtedness for the 12-month fiscal period ended December 31, 2006 will be deemed to be $662,500 multiplied by 4.0. For calculations as of March 31, 2007, scheduled payments of principal will be deemed to be (i) $662,500 plus (ii) the actual amount of such payments for the fiscal quarter ended March 31, 2007 multiplied by 3.0. For calculations as of 6/30/07, scheduled payments of principal will be deemed to be (i) $662,500 plus (ii) the actual amount of such payments during the fiscal quarter ended June 30, 2007 and March 31, 2007 multiplied by 1.5. For calculations as of September 30, 2007, scheduled payments of principal will be deemed to be (i) $662,500 plus (ii) the actual amounts of such payments for the fiscal quarter ended March 31, 2007, June 30, 2007 and September 30, 2007. MAXIMUM LEVERAGE RATIO (SECTION 6.1(e)) Leverage Ratio is defined as follows:
Fixed Charge Coverage means the quotient which is obtained by dividing (a) the difference of EBIDA for the 12-month period preceding the applicable date, less Maintenance Capital Expenditures for the 12-month period preceding the applicable date, less Dividends for the 12-month period preceding the applicable date, by (b) the sum of Current Maturities of Long-Term Indebtedness as of the applicable date, plus Interest Expense for the 12-month period preceding the applicable date.
Fixed Charge Coverage. Ratio is made (the "Calculation Date"), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness, or such issuance or redemption of Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, that have been made by the Company or any of its Restricted Subsidiaries during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, discontinued operations, mergers and consolidations (and the change of any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, discontinued operation, merger or consolidation, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger or consolidation had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an inte...
Fixed Charge Coverage means, as at the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Fixed Charges; all of the foregoing calculated by reference to the immediately preceding four (4) fiscal quarters of the Borrower ending on such date of determination.