Minimum Fixed Charge Coverage Ratio definition
Minimum Fixed Charge Coverage Ratio means the sum of EBITDA and rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and the Operating Lease, for a given period, divided by the sum of (A) interest expense (which shall not include interest on the Subordinated Debt which is deferred and not paid), (B) rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and Operating Lease, (C) principal payments on the Subordinated Debt, the Bonds and any other permitted debt, and (D) Unfunded Capital Expenditures in the amounts disclosed by Borrower in its financial statements, for such period.
Minimum Fixed Charge Coverage Ratio means, for any Calculation Period, the ratio of (a) Adjusted Consolidated EBITDA, to (b) Consolidated Fixed Charges, in each case for such Calculation Period.
Minimum Fixed Charge Coverage Ratio means, as of the close of any Fiscal Quarter, commencing with the close of the Fiscal Quarter in which the Conversion Date occurs, the ratio computed for the period consisting of such Fiscal Quarter (or such shorter period of any Fiscal Quarter after the occurrence therein of the Conversion Date and each of the three immediately prior Fiscal Quarters (or such lesser number of Fiscal Quarters to have closed since the Conversion Date) of:
Examples of Minimum Fixed Charge Coverage Ratio in a sentence
The Borrower’s Minimum Fixed Charge Coverage Ratio shall be tested quarterly as of the end of each fiscal quarter and shall be determined on a rolling basis.
More Definitions of Minimum Fixed Charge Coverage Ratio
Minimum Fixed Charge Coverage Ratio is defined as Borrowers EBITDA plus rent and operating lease payments, less cash taxes paid, distributions, dividends and capital expenditures (other than Capital Expenditures financed with the proceeds of purchase money Indebtedness or Capital Leases to the extent permitted hereunder) and other extraordinary income for the twelve month period then ending, to: (b) the consolidated sum of: (i) Borrowers interest expense; and (ii) all principal payments with respect to Indebtedness, including capital leases and subordinated debt, that were paid or were due and payable by Borrowers during the period, plus rent and operating lease expense incurred in the same such period.
Minimum Fixed Charge Coverage Ratio is hereby deleted in its entirety and replaced as follows:
Minimum Fixed Charge Coverage Ratio means the ratio of Adjusted EBITDA to Fixed Charges.
Minimum Fixed Charge Coverage Ratio means the ratio of (a) the sum of EBITDA plus lease expense and rent expense, minus maintenance capital expenditures $50,000 per annum, minus income taxes, minus dividends, withdrawals and other distributions, to (b) the sum of interest expense, lease expense, rent expense, scheduled principal payments on term debt and the current portion of capitalized lease obligations. This ratio will be calculated at the end of each quarter-annual reporting period for which the Bank requires financial statements, using the results of the twelve-month period ending with that reporting period.
Minimum Fixed Charge Coverage Ratio means: EBITDAL + Rent/Lease Expenses ----------------------------- Interest Expense* + PPLTD + Rent/Lease Expense + Maintenance Capital Expenditures (*"Interest Expense" excludes any accrued but not paid Subordinated Debt interest.)
Minimum Fixed Charge Coverage Ratio means, for any period, the ratio of:
Minimum Fixed Charge Coverage Ratio means the sum of EBITDA and rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and the Operating Lease, for a given period, divided by the sum of (1) interest expense (which shall not include interest on the Subordinated Debt which is deferred and not paid), (2) rent (lease) expense, including without limitation rent payments in connection with the Sale/Leaseback and Operating Lease, (3) principal payments on the Subordinated Debt, the Bonds, and any other permitted debt, and (4) Unfunded Capital Expenditures in the amounts disclosed by Lessee in its financial statements, for such period.