Fixed Charge Coverage Ratio Test and together with the Senior Leverage Ratio Test, the “Tests”); and
Fixed Charge Coverage Ratio Test means, at any date, that the Fixed Charge Coverage Ratio is at least 2.00 to 1.00.
Fixed Charge Coverage Ratio Test provided that the maximum aggregate principal amount of Debt, Disqualified Stock or Preferred Stock that Restricted Subsidiaries that are neither Issuers nor Guarantors may incur under this subsection (a) is $10.0 million outstanding at any time.
Examples of Fixed Charge Coverage Ratio Test in a sentence
The Loan Parties have requested that the Administrative Agent and the Banks suspend the testing of this Minimum Fixed Charge Coverage Ratio for the fiscal quarter period ending July 30, 2022 (the "July Minimum Fixed Charge Coverage Ratio Test").
The Permitted Debt ExemptionThe covenant will also permit numerous categories of “Permitted Debt” to be incurred by the Issuer and its Restricted Subsidiaries regardless of their financial performance or condition and without their having to meet the Fixed Charge Coverage Ratio Test.
More Definitions of Fixed Charge Coverage Ratio Test
Fixed Charge Coverage Ratio Test means that the Fixed Charge Coverage Ratio is not greater than 2.00 to 1.00 for the period of the four consecutive fiscal quarters ending on the last day of the most recent quarter for which financial statements have been delivered hereunder.
Fixed Charge Coverage Ratio Test provided, further, that the amount of Indebtedness (including Acquired Indebtedness or Attributable Debt), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, pursuant to the foregoing by Restricted Subsidiaries that are not Subsidiary Guarantors shall not exceed $125,000,000 at any one time outstanding.
Fixed Charge Coverage Ratio Test means, with respect to the consummation of a proposed transaction, or occurrence of any other event giving rise to requirement to meet such Fixed Charge Coverage Ratio Test, a test of whether, if the Parent incurred $1.00 of additional Indebtedness, the Fixed Charge Coverage Ratio for the Parent’s most recently ended four full fiscal quarters for which internal financial statements were available immediately preceding the date of consummation of such transaction, or occurrence of such other event, would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if such transaction had been consummated, or such other event had occurred, as the case may be, at the beginning of such four-quarter period.
Fixed Charge Coverage Ratio Test means that the Fixed Charge Coverage Ratio for the Company and its Subsidiaries, on a consolidated basis, for the most recently completed four full fiscal quarters for which internal financial statements are available immediately preceding the date on which any additional Indebtedness is incurred or any Disqualified Stock or any preferred stock or preferred interests are issued, as the case may be, would have been at least 3.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred stock or preferred interests had been issued, as the case may be, at the beginning of such four-quarter period.
Fixed Charge Coverage Ratio Test means, with respect to the consummation of a proposed transaction, or occurrence of any other event giving rise to requirement to calculate or meet such Fixed Charge Coverage Ratio Test, a test of whether, if the Parent incurred $1.00 of additional Indebtedness, the Fixed Charge Coverage Ratio for the Parent’s most recently ended four full fiscal quarters for which internal financial statements were available immediately preceding the date of consummation of such transaction, or occurrence of such other event, would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if such transaction had been consummated, or such other event had occurred, as the case may be, at the beginning of such four-quarter period.
Fixed Charge Coverage Ratio Test. 5.09 “Indenture” Preamble “Initial Notes” Recitals “Issuers” Preamble “Legal Defeasance” 9.02 “Notes” Recitals “Offer Amount” 4.09 “Offer Period” 4.09 “Offer to Purchase” 4.09 “Paying Agent” 3.06 “Permitted Debt” 5.09(b) “Purchase Date” 4.09 “Register” 3.06 “Registrar” 3.06 “Regular Record Date” 3.03 “Related Party Transaction” 5.12 “Restricted Investment” 5.08 “Restricted Payments” 5.08(a) “Surviving Company” 6.01
Fixed Charge Coverage Ratio Test provided that Indebtedness incurred under this paragraph (and any Permitted Refinancing Indebtedness in respect thereof) by Subsidiaries of Molycorp that are not Guarantors may not exceed more than $50,000,000 in the aggregate outstanding at any time.