Trailing Four Quarters definition
Examples of Trailing Four Quarters in a sentence
Such notice will, depending on which condition is relied upon in determining that a Trigger Event has occurred, set forth either (x) the Covered Life Insurance Subsidiaries’ Most Recent Weighted Average NAIC RBC Ratio or (y) the Trailing Four Quarters Consolidated Net Income Amount and the Adjusted Shareholders’ Equity Amount, as applicable, and the extent to which these amounts must increase in order for payments of interest from sources other than pursuant to Section 6.3 hereof to resume.
Such notice shall, depending on which condition is relied upon in determining that a Trigger Event has occurred, set forth either (x) the Covered Insurance Subsidiaries’ Risk-Based Capital Ratio or (y) the Trailing Four Quarters Consolidated Net Income Amount and the Adjusted Stockholders’ Equity Amount, as applicable, and the extent to which these amounts must increase in order for payments of interest from sources other than the Alternative Payment Mechanism to resume.
Such notice shall, depending on which condition is relied upon in determining that a Trigger Event has occurred, set forth either (x) the Covered Insurance Subsidiaries' Risk-Based Capital Ratio or (y) the Trailing Four Quarters Consolidated Net Income Amount and the Adjusted Stockholders' Equity Amount, as applicable, and the extent to which these amounts must increase in order for payments of interest from sources other than the Alternative Payment Mechanism to resume.
Such notice will, depending on which condition is relied upon in determining that a Trigger Event has occurred, set forth either (x) the Covered Life Insurance Subsidiaries' Most Recent Weighted Average NAIC RBC Ratio or (y) the Trailing Four Quarters Consolidated Net Income Amount and the Adjusted Shareholders' Equity Amount, as applicable, and the extent to which these amounts must increase in order for payments of interest from sources other than the Alternative Coupon Satisfaction Mechanism to resume.
If a Net Availability Shortfall occurs at any time during a fiscal quarter, compliance with the financial covenants set forth in Sections 7.3(a) and (b) shall be determined and tested for both the Trailing Four Quarters Testing Period and the Current Four Quarters Testing Period.
If Trailing Four Quarters EBITDA is Twenty Five Million Dollars ($25,000,000) or more, the letter of credit fee shall be calculated using the lower of the margins applicable based on Trailing Four Quarters EBITDA or Average Excess Availability.
If a Net Availability Shortfall occurs at any time, compliance with the financial covenants set forth in Sections 7.3(a), (b) and (c) shall be determined and tested for both the Trailing Four Quarters Testing Period and the Current Four Quarters Testing Period.
For and during each of Ventas' fiscal quarters after the Vencor Effective Date, permit the ratio of Consolidated EBITDA to Consolidated Interest Expense (in each case determined for the Trailing Four Quarters) to be less than 1.20: 1.00 for such period; provided, however, that for purposes of determining compliance with this Section 6.12, Consolidated Interest Expense shall not include interest expense with respect to any Indebtedness permitted by Section 6.1(s) hereof.
In that Compliance Certificate or a subsequent Special Compliance Certificate furnished to you, I reported that the Companies had failed to comply with the financial covenants set forth in Section 7.3 of the Financing Agreement for the Trailing Four Quarters Testing Period ending on the last day of such fiscal quarter.
The Companies and their Subsidiaries shall not be deemed to have violated any of the financial covenants for the Trailing Four Quarters Testing Period, unless the Companies and their Subsidiaries shall also fail to comply with one or more of the financial covenants for the Twelve Months Testing Period.