Maintenance of Ratios Sample Clauses
Maintenance of Ratios. At the end of each quarter during the Term, on a rolling four-quarter basis, the Relevant Group shall maintain the following ratios:
Maintenance of Ratios. At the end of each quarter during the Term commencing February 28, 2001, on a rolling four-quarter basis, the VL Group shall maintain the following ratios, provided that (a) the first test as at February 28, 2001, shall be calculated by extrapolating from the relevant results for that quarter; (b) the second test effective May 31, 2001 shall be calculated by extrapolating from the relevant results for that quarter and the preceding quarter; (c) the third test effective August 31, 2001 shall be calculated by extrapolating from the relevant results for that quarter and the 2 preceding quarters and (d) the fourth and all subsequent tests shall be calculated in respect of the preceding four quarters:
Maintenance of Ratios. ACT shall maintain at the end of each fiscal quarter of ACT, on a consolidated basis, the following ratios:
12.1.1 a Fixed Charge Coverage Ratio of not less than 1.30 to 1.00; and
Maintenance of Ratios. (a) For each fiscal quarter and fiscal year while the Notes are outstanding, beginning with the fiscal quarter ended March 31, 2017 and fiscal year ended December 31, 2017, the Company shall not have a Debt to Total Capitalization Ratio (i) greater than 25% excluding the Indebtedness Incurred under the 2017 Convertible Notes and (ii) greater than 45% after giving effect to the Indebtedness Incurred under the 2017 Convertible Notes;
(g) Section 3.13 of the Indenture is hereby amended and replaced in its entirety with the following:
Maintenance of Ratios. Borrower shall maintain the following ratios, on a consolidated basis:
Maintenance of Ratios. The Guarantor shall maintain:
11.11.1 at all times during the Term, a ratio of Consolidated Funded Debt to Consolidated Total Capitalization not exceeding 50%;
11.11.2 a Consolidated ratio (determined as of the end of each fiscal quarter of the Guarantor) of Net Income Available for Fixed Charges to Fixed Charges for the immediately preceding period of four consecutive fiscal quarters including the fiscal quarter ending on the calculation date (taken as a single accounting period) at not less than 2.0 to 1.0; and
11.11.3 at all times during the Term, a minimum Consolidated Net Worth of Cdn. $200,000,000; For greater certainty and without limiting any provision of this Agreement, each of the Borrower and the Guarantor acknowledges that the failure to respect any of the foregoing financial ratios at any time during the Term constitutes a material breach of this Agreement.
Maintenance of Ratios. The Borrower shall maintain, at all times throughout the Term, on a consolidated basis with the other members of the Restricted Group, and tested on a quarterly basis:
12.11.1 subject to the following sentence, on a four quarter trailing basis, a Leverage Ratio not exceeding 3.25:1.00. Notwithstanding the foregoing, following a permitted Acquisition in an amount exceeding $20,000,000, the Leverage Ratio may increase to a level not exceeding 3.50:1.00 for a period of six (6) months following such Acquisition;
12.11.2 a minimum Net Worth equal to $1,134,477,000 plus, on an annual basis, 50% of the aggregate amount of positive net income (i.e. calculated in accordance with GAAP but without any deduction for net losses) calculated based on the Borrower's most recent Annual Report, and determined as at the end of each fiscal quarter of the Borrower, for each fiscal quarter after 2002;
12.11.3 on a four quarter trailing basis, a minimum Interest and Rent Coverage Ratio of 2.25:1.00; and
12.11.4 a positive Working Capital. For greater certainty and without limiting any provision of this Agreement, the Borrower acknowledges that the failure to respect any of the foregoing financial ratios at any time during the Term constitutes a material breach of this Agreement.
Maintenance of Ratios. 14.8.1 Subject to subsection 14.8.2, maintain at all times, on a consolidated basis:
14.8.1.1 an Interest-Bearing Debt/EBITDA Ratio no greater than 3.50:1.00, provided that, for any twelve (12) month period (each such period, a “Step Up Period”) following the date on which the Borrower notifies the Agent that Saputo or its Subsidiaries have completed, in the twelve (12) preceding consecutive months, an acquisition or a series of acquisitions for which the aggregate consideration exceeds US$1,000,000,000, the Interest-Bearing Debt/EBITDA Ratio shall be no greater than 4.00:1.00; provided further however that, immediately after the end of any Step Up Period, the Interest- Bearing Debt/EBITDA Ratio shall be no greater than 3.50:1.00 for at least two (2) consecutive fiscal quarters before the Borrower may benefit from another Step Up Period pursuant to the immediately preceding proviso; and
14.8.1.2 an Interest Coverage Ratio of not less than 2.50:1.00.
14.8.2 When any acquisition or Disposal of business permitted hereunder is made by any of Saputo or its Subsidiaries during any period in respect of which the financial ratios of subsection 14.8.1 or the EBITDA Threshold have to be calculated, such ratios or EBITDA Threshold may at the option of Saputo in the case of an acquisition but shall in the case of a Disposal of business be calculated as if such acquisition or such Disposal had occurred on the first day of the relevant period of calculation (therefore integrating in or excluding from the calculation, as applicable, the historical financial results of the business concerned).
Maintenance of Ratios. 43 11.12 PAYMENT OF LEGAL FEES AND OTHER EXPENSES ....................43 11.13
Maintenance of Ratios. The Cdn Borrower shall maintain at all times the following ratios tested on a quarterly basis, on a Consolidated Basis or Adjusted Consolidated Basis (as applicable pursuant to Section 14.2):
14.1.1 a Leverage Ratio not greater than 3.00 to 1.00. Notwithstanding the foregoing, following a Permitted Acquisition in an amount exceeding Cdn$150,000,000, the Leverage Ratio may increase to a level not exceeding 3.50 to 1.00 for a period of twelve (12) months following such Permitted Acquisition;
14.1.2 an Interest and Rent Coverage Ratio of not less than 1.50:1.00.