Operating Cash Flow Coverage Ratio means, as measured separately for each Equipment Growth Fund as at any date of determination, the ratio of (a) Consolidated EBIDA of such Equipment Growth Fund adjusted for gains or losses on the sale of Equipment in the ordinary course of business to the extent not already taken into account in the determination of Consolidated EBIDA to (b) the sum of (i) the aggregate amount of principal payments due on Consolidated Funded Debt of such Equipment Growth Fund (excluding the Loans) during the four consecutive fiscal quarters immediately succeeding such date plus (ii) Consolidated Interest Expense of such Equipment Growth Fund plus (iii) twenty-five percent (25%) of the aggregate principal amount of the Loans outstanding for such Equipment Growth Fund on such date (excluding principal amounts of Loans outstanding for ninety (90) days or less). Consolidated EBIDA and Consolidated Interest Expense to be measured for the four consecutive fiscal quarters then ended on such date.
Operating Cash Flow Coverage Ratio contained in Section 1.1 of the Loan Agreement is deleted in its entirety and the following is inserted in lieu thereof:
Operating Cash Flow Coverage Ratio shall have the meaning set forth in the Mortgage Loan Agreement.
Examples of Operating Cash Flow Coverage Ratio in a sentence
Section 7.1 of the Loan Agreement is deleted in its entirety and the following is inserted in lieu thereof: Each Equipment Growth Fund shall maintain an Operating Cash Flow Coverage Ratio of not less than 1.25:1.00.
Each Equipment Growth Fund shall maintain an Operating Cash Flow Coverage Ratio of not less than 1.25:1.00.
Each Equipment Growth Fund shall maintain an Operating Cash Flow Coverage Ratio of not less than 1.50:1.0.
The Loan Parties shall not permit the Operating Cash Flow Coverage Ratio as of the last day of each fiscal quarter commencing with the fiscal quarter ending on July 31, 2008, to be less than 1.50 to 1.0 unless Liquidity as of such date is equal to or greater than $100,000,000.
Borrower shall maintain an Operating Cash Flow Coverage Ratio of not less than 1.25:1.00.
More Definitions of Operating Cash Flow Coverage Ratio
Operating Cash Flow Coverage Ratio means, as measured separately for each Equipment Growth Fund as at any date of determination, the ratio of (a) Consolidated EBIDA of such Equipment Growth Fund adjusted for gains or losses on the sale of Equipment in the ordinary course of business to the extent not already taken into account in the determination of Consolidated EBIDA to (b) the sum of (i) the aggregate amount of principal payments on Consolidated Funded Debt of such Equipment Growth Fund (excluding the Loans) made during the four consecutive fiscal quarters ending on such date plus (ii) Consolidated Interest Expense of such Equipment Growth Fund plus (iii) twenty-five percent (25%) of the aggregate principal amount of the Loans outstanding for such Equipment Growth Fund on such date (Consolidated EBIDA and Consolidated Interest Expense to be measured for the four consecutive fiscal quarters then ended on such date).
Operating Cash Flow Coverage Ratio means for the Borrower on a consolidated basis with all Subsidiaries the ratio of (i) EBITDA less (ii) cash taxes paid less (iii) the lesser of (x) actual Capital Expenditures or (y) maintenance Capital Expenditures in the assumed amount of $10,000,000.00 to (i) current maturities of long term debt plus (ii) Interest Expense.
Operating Cash Flow Coverage Ratio set forth in Section 1.1 of the Loan Agreement is hereby amended by inserting the word "income" as the first word in clause (b)(ii) thereof.
Operating Cash Flow Coverage Ratio means with respect to the Trust, at any date of determination, the ratio of (i) Cash Flow - Indenture to (ii) Consolidated Interest Expense.
Operating Cash Flow Coverage Ratio means the ratio, as of any date of determination, of (i) Adjusted Cash Flow from Operations plus Fixed Charges, in each case for the prior four fiscal quarters just ended to (ii) four (4) multiplied by Fixed Charges for the most-recently ended fiscal quarter. Over Limit Allocation shall mean (a) $100,000,000 plus (b) the aggregate amount of inventory impairment losses and land option write-offs during the fiscal quarters ending January, 2008, and April, 2008, shown on the consolidated income statement of Hovnanian for such fiscal quarters provided pursuant to Section 7.3.1; provided, however, that in no event shall the Over Limit Allocation exceed $200,000,000 at any time. PAPA shall mean an arrangement, other than with an Affiliate of any Loan Party, by which Liens are granted in conjunction with purchase contracts for the purchase of real estate and which secure future payments due to the sellers of such real estate at the time of the sale of homes constructed on such real estate and which payments are contingent on the sale price of such homes, such arrangements may include (A) adjustments to the land purchase price, (B) profit participations, (C) community marketing fees and community enhancement fees, and (D) reimbursable costs paid by the land developer. Participation Advance shall mean, with respect to any Lender, such Lender’s payment in respect of its participation in a Letter of Credit Borrowing according to its Ratable Share pursuant to Section 2.9.4 [Repayment of Participation Advances].
Operating Cash Flow Coverage Ratio means, as at any date of determination, the ratio of (a) Consolidated EBIDA of Borrower adjusted for gains or losses on the sale of Equipment in the ordinary course of business to the extent not already taken into account in the determination of Consolidated EBIDA to (b) the sum of (i) the aggregate amount of principal payments due on Consolidated Funded Debt (excluding the Revolver Loans) during the four consecutive fiscal quarters immediately succeeding such date plus (ii) Consolidated Interest Expense of Borrower plus (iii) twenty-five percent (25%) of the aggregate principal amount of the Revolver Loans outstanding on such date (excluding principal amounts of Revolver Loans outstanding for ninety (90) days or less). Consolidated EBIDA and Consolidated Interest Expense to be measured for the four consecutive fiscal quarters then ended on such date.
Operating Cash Flow Coverage Ratio means with respect to the New Obligor, at any date of determination, the ratio of (i) Cash Flow Indenture to (ii) Consolidated Interest Expense.