“Fixed Charge Coverage Ratio” means, as of any date, the ratio of # Net Cash Flow to # Debt Service.
[Subsection 2] of the definition of "Fixed Charge Coverage Ratio" is amended and restated in its entirety as follows:
“Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of # Adjusted Consolidated EBITDA for the Measurement Period ending on such date, to # Fixed Charges for such Measurement Period.
Section #2Fixed Charge Coverage Ratio. Borrower shall not permit, as of the last day of any fiscal quarter of Borrower for the four fiscal quarter period then ending, the Fixed Charge Coverage Ratio for Borrower and its Subsidiaries on a consolidated basis to be less than 1.20 to 1.00.
Fixed Charge Coverage Ratio not at any time less than 1.75 to 1.00, to be tested at the end of each fiscal quarter.
Section # Amendments to [Section 8.2.15]. [Section 8.2.15][Minimum Fixed Charge Coverage Ratio] of the Credit Agreement is hereby amended and restated in entirety as follows:
With respect to Sections 5.10. and 5.11. of the Loan Agreement, testing of the Average Total Funded Debt to EBITDA set forth in Section 5.10. and of the Fixed Charge Coverage Ratio set forth in Section 5.11. shall commence with the 30th day of June 2023. Average Total Funded Debt to EBITDA shall be tested on June 30, 2023 and each quarter thereafter until the Indebtedness is indefeasibly paid in full, in each case tested as of the end of the quarter. The Fixed Charge Coverage Ratio shall be tested on June 30, 2023 and monthly thereafter until the Indebtedness is indefeasibly paid in full, in each case tested as of the end of the month.
"Applicable Margin Toggle Date" shall mean the date upon which the Fixed Charge Coverage Ratio, calculated for the four fiscal quarters most recently ended for which financial statements have been delivered pursuant to [Section 9.7 or 9.8]8], is greater than or equal to 1.00 to 1.00.
"Fixed Charge Coverage Test Date" shall mean the last day of the calendar month ending immediately prior to the date all requirements to trigger a Covenant Testing Period have been met and the last day of each calendar month thereafter, until the Covenant Testing Period has ended.
[Schedule I] attached hereto sets forth financial data and computations evidencing the Borrowers compliance with certain covenants of the Agreement, including, but not limited to, the Fixed Charge Coverage Ratio, whether or not applicable, all of which data and computations are true, complete and correct; and
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.