Debt Service Coverage Ratio. The Borrower will not permit the Debt Service Coverage Ratio, determined for any period of four consecutive fiscal quarters ending on the last day of any fiscal quarter, to be less than 2.50 to 1.00.

DEBT SERVICE COVERAGE RATIO. Maintain a ratio of DEBT SERVICE COVERAGE RATIO in excess of 1.250 to 1.000. This liquidity ration will be evaluated as of year-end.

Coverage Ratio. The Parent will not permit the ratio, determined as of the end of each fiscal quarter of the Parent, for the then most recently ended four fiscal quarters of # Consolidated EBITDA to # Consolidated Interest Expense (the “Interest Coverage Ratio”), to be less than 2.50 to 1.00. As of the date of this Agreement, pursuant to Section 9.9, the minimum Interest Coverage Ratio shall be 3.00 to 1.00 in accordance with [Section 7.12(a)] of the Bank Credit Agreement. For purposes of clarification, so long as any of the Notes are outstanding, for purposes of this Section 10.7(a), the minimum Interest Coverage Ratio shall not be lower than 2.50 to 1.00.

“Fixed Charge Coverage Ratio” means, as of any date, the ratio of # Net Cash Flow to # Debt Service.

"8.2.15 Minimum Debt Service Coverage Ratio. The Loan Parties (other than Hallador) shall not at any time permit the Debt Service Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than the applicable amounts set forth below:

Interest Coverage Ratio. The [[Organization A:Organization]] will maintain at all times an Interest Coverage Ratio of not less than 5 to 1.

Priority Debt Ratio. The Company shall not permit its Priority Debt Ratio, calculated on a consolidated basis for the Company and its Subsidiaries, to exceed 2.25 to 1.00 as of the last day of each fiscal quarter.

Secured Debt Ratio. The Secured Debt Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be less than or equal to 0.40 to 1.0.

A Minimum Debt Service Coverage Ratio (“DSCR”) of greater than or equal to 1.15:1 tested annually. Debt Service Coverage Ratio is defined as: # The sum of # the Borrower’s net income, plus # interest expense and credit fees, plus # all non-cash negative adjustments to net income, minus # all positive non-cash adjustments to net income; by # the sum of # prior year’s current maturities of long term debt, including capital lease payments, plus # interest expense and credit fees.

“Debt Service Coverage Ratio (First Extension)” shall mean, as of any date of calculation, the ratio of # the Underwritable Cash Flow (First Extension) to # Debt Service for the subsequent twelve (12) month period, such Debt Service to be calculated assuming # an Interest Rate equal to the sum of the Strike Rate plus the Spread and # that the Loan is in place for the entirety of said period.