Interest Coverage Test. The Borrower shall not permit the Interest Coverage Ratio (monitored and tested quarterly as of the last day of each fiscal quarter) to be less than 1.50 to 1.0 (the “Interest Coverage Test”); however, if the Interest Coverage Test was not satisfied on the last day of any fiscal quarter, Borrower shall not be in default hereunder so long as Borrower shall maintain at all times during the period the Interest Coverage Test remains unsatisfied Unrestricted Cash of Borrower in an amount equal to not less than the Liquidity Cure Amount.
Interest Coverage Test. The Interest Coverage Test is not satisfied on any ICR Determination Date and such failure continues for three Business Days without the Borrower curing such Interest Coverage Test breach in accordance with Section 2.03(b)(iii); or
Interest Coverage Test. Borrower shall not, on any date of determination, permit the Interest Coverage Ratio (monitored and tested quarterly as of the last day of each fiscal quarter) to be less than 1.75 to 1.0 (the “Interest Coverage Test”); however, if the Interest Coverage Test was not satisfied on the last day of any fiscal quarter, Borrower shall not be in Default hereunder so long as Borrower shall maintain at any date of determination during the period the Interest Coverage Test remains unsatisfied Unrestricted Cash of Borrower in an amount equal to not less than an amount equal to the trailing twelve month Consolidated Interest Incurred.
Interest Coverage Test. 62 SECTION 9.12.
Interest Coverage Test. Section 6.19(c) of the Credit Agreement is hereby amended and restated in its entirety as follows:
Interest Coverage Test. If at any time Borrower shall fail to maintain, for two (2) consecutive fiscal quarters, an Interest Coverage Ratio, determined as of the last day of each fiscal quarter (each, a “Testing Date”) for the four-quarter period ending on such Testing Date, of at least 2.0 to 1.0 (the “Interest Coverage Test”), then the Permitted Leverage Ratio for the fiscal quarter next succeeding the second such consecutive fiscal quarter with respect to which Borrower shall have so failed the Interest Coverage Test (such second consecutive fiscal quarter being herein referred to as the “Coverage Test Failure Quarter”) shall, subject to the provisions of Section 6.25(d), be decreased by subtracting 2.5% from the Permitted Leverage Ratio that was in effect on the Testing Date. (By way of example, if the Permitted Leverage Ratio for the Coverage Test Failure Quarter was 52.5%, the Permitted Leverage Ratio for the next succeeding fiscal quarter shall be 50.0%.) The decreased Permitted Leverage Ratio shall remain in effect unless and until further decreased pursuant to this Section 6.25(b) or increased pursuant to Section 6.25(c).
Interest Coverage Test. If at any time Borrower shall fail to maintain, for two (2) consecutive fiscal quarters, an Interest Coverage Ratio, determined as of the last day of each fiscal quarter for the four-quarter period ending on such day, of at least 2.0 to 1.0 (the “Interest Coverage Test”), then the Permitted Debt to Capitalization Ratio for the same fiscal quarter with respect to which Borrower shall have so failed the Interest Coverage Test (i.e., the second of such two (2) consecutive fiscal quarters, which quarter is herein referred to as the “Coverage Test Failure Quarter”) shall be decreased as follows: (i) if the Permitted Debt to Capitalization Ratio for the fiscal quarter preceding the Coverage Test Failure Quarter was 55%, the Permitted Debt to Capitalization Ratio shall be decreased by 5% to 50%; and (ii) if the Permitted Debt to Capitalization Ratio for the fiscal quarter preceding the Coverage Test Failure Quarter was less than 55%, the Permitted Debt to Capitalization Ratio shall be decreased by 2.5%.
Interest Coverage Test. The Borrower shall not permit the Interest Coverage Ratio (monitored and tested quarterly as of the last day of each fiscal quarter) to be less than 1.50 to 1.0 (the “Interest Coverage Test”); provided, however, that should the Interest Coverage Test ever not be satisfied, Borrower shall not be in default hereunder so long as Borrower shall at all times maintain Unrestricted Cash of Borrower in an amount equal to the greater of (i) $25,000,000, or (ii) the sum of (i) the trailing twelve month Consolidated Interest Expense plus (ii) the aggregate principal amount of Consolidated Indebtedness maturing in the next twelve months (the “Minimum Liquidity Amount”).
Interest Coverage Test. On the 30 month anniversary of the Issuance Date, if no Qualified IPO has been consummated, the Company shall have satisfied the Interest Coverage Test. On such anniversary, the Company shall deliver to the Holder a certificate, signed by the Chief Executive Officer and Chief Financial Officer of the Company, certifying as to LTM EBITDA, LTM Capital Expenditures and LTM Net Interest Expense as of such date showing in reasonable detail the calculation of each of these figures.
Interest Coverage Test. The ratio of Consolidated Operational EBITDA of the Borrower and its Consolidated Subsidiaries to Consolidated Interest Expense of the Borrower and its Consolidated Subsidiaries for any period of four consecutive fiscal quarters shall equal or exceed 3.5:1.0.
