Minimum Interest Coverage definition

Minimum Interest Coverage means for each fiscal quarter of the Borrower the ratio of (a) the sum of EBITDA as of the end of such fiscal quarter for the preceding twelve months to (b) the Consolidated Interest Expense as of the end of such fiscal quarter for the preceding twelve months.
Minimum Interest Coverage has the meaning set forth in Section 6.14(a).
Minimum Interest Coverage the Company’s Interest Coverage ratio in respect of any Relevant Period ending on or after 31 December 2017 shall not be less than a ratio of 3.00:1.

Examples of Minimum Interest Coverage in a sentence

  • The Company shall not permit the Minimum Interest Coverage Ratio for the four-Fiscal Quarter period ending on the last day of any Fiscal Quarter to be less than 3.00 to 1.00.

  • The Borrower shall not permit the Minimum Interest Coverage Ratio as of the last day of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending June 30, 2015 through and including the fiscal quarter ending March 31, 2016, to be less than 2.50 to 1.00.

  • Borrower shall not permit, commencing with the fiscal quarter ending March 31, 2015, the Minimum Interest Coverage Ratio as of each fiscal quarter end of the Borrower to be less than 2.50 to 1.00.

  • The Minimum Interest Coverage Ratio increases to 1.75 to 1.00 as of September 30, 2016 and December 31, 2016, 2.50 to 1.00 as of March 31, 2017 and 2.75 to 1.00 as of June 30, 2017 and thereafter.

  • Any of the Loan Parties shall default in the observance or performance of any covenant contained in Section 8.1.11 [Anti-Terrorism Laws], Section 8.2.6 [Liquidations, Mergers, Consolidations, Acquisitions], Section 8.2.7 [Dispositions of Assets of Subsidiaries], Section 8.2.9 [Continuation of or Change in Business], Section 8.2.13 [Change in Ownership], Section 8.2.14 [Maximum Leverage Ratio] or Section 8.2.15 [Minimum Interest Coverage Ratio].


More Definitions of Minimum Interest Coverage

Minimum Interest Coverage. It maintains a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of greater than or equal to: (i) 1.25 at all times prior to and through Xxxxx 00, 0000, (xx) 1.50 at all times from April 1, 2018 through March 31, 2019, and (iii) 2.50 from April 1, 2019 and at all times thereafter;
Minimum Interest Coverage shall have the meaning set forth in SECTION 5.1(bb).
Minimum Interest Coverage the Company's Interest Coverage ratio in respect of any Relevant Period ending on or after 31 December 2017 shall not be less than a ratio of 3.00:1. For purposes of calculations under this Clause 20.2, prior to the consummation of the Bengal Acquisition (or until the date that is 90 days after the termination of the Bengal Acquisition Agreement), Consolidated Indebtedness shall not include Specified Senior Notes Indebtedness; provided that (i) the release of the proceeds of the Specified Senior Note Indebtedness to the Company and its Subsidiaries is contingent upon the consummation of the Bengal Acquisition and, pending such release, such proceeds are held in escrow (and, if the Bengal Acquisition Agreement is terminated prior to the consummation of the Bengal Acquisition or if the Bengal Acquisition is otherwise not consummated by the date specified in the Specified Senior Notes Indenture, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of the Specified Senior Notes Indebtedness) or (ii) the Specified Senior Notes Indenture contains a "special mandatory redemption" provision (or other similar provision) or otherwise permits the Specified Senior Notes Indebtedness to be redeemed or prepaid if the Bengal Acquisition is not consummated by the date specified in the Specified Senior Notes Indenture (and if the Bengal Acquisition Agreement is terminated in accordance with its terms prior to the consummation of the Bengal Acquisition or the Bengal Acquisition is otherwise not consummated by the date specified in the Specified Senior Notes Indenture, the Specified Senior Notes Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).
Minimum Interest Coverage. Interest Coverage equal to or greater than one hundred fifty percent (150%), tested on a quarterly basis as of the end of each fiscal quarter of Borrower, commencing with the fiscal quarter ended March 31, 2020.”
Minimum Interest Coverage. Prior to the Investment Grade Date, the Borrower will not permit its Consolidated Interest Coverage Ratio to be less than (i) 3.00 to 1.00 as of the last day of the Test Periods ending September 30, 2015 through June 30, 2020, (ii) 2.75 to 1.00 as of the last day of the Test Periods ending September 30, 2020 through March 31, 2021 and (iii) 3.00 to 1.00 as of the last day of any Test Period ending thereafter; provided that the Consolidated Interest Coverage Ratio as of the last day of each Test Period during a Permitted Acquisition Period shall not be less than 2.75 to 1.00.”
Minimum Interest Coverage means "Earning Before Taxes and Interest" as defined herein, divided by "Interest Expense" as defined herein.
Minimum Interest Coverage. Ratio required under subsection 7.6A: _____:1.00