Amended Definitions. The definitions of "Consolidated", "Consolidated Capital Expenditures", "Consolidated EBITDA", "Consolidated Fixed Charge Coverage Ratio", "Consolidated Fixed Charges", "Consolidated Interest Charges" and "Consolidated Net Income" set forth in [Section 1.01] of the Credit Agreement are hereby amended in their entirety and restated as follows:
$8,250,000 and continuing as of each Fiscal Quarter ending thereafter, the Borrower and its Consolidated Subsidiaries shall maintain a Consolidated Fixed Charge Coverage Ratio of not less than 1.20 to 1.
Notwithstanding anything to the contrary herein, financial ratios, tests and covenants, including the Leverage Ratio and the Fixed Charge Coverage Ratio shall be calculated in the manner prescribed by this Section 1.9.
#Section 1.1 of the Loan Agreement is amended to delete the definitions of Excess Cash Flow, Fixed Charge Coverage Ratio and Funded Debt in their entirety and replace them with the following:
“Applicable Margin: with respect to any Type of Loan, the margin set forth below, as determined by the Fixed Charge Coverage Ratio for the most recently ended trailing four (4) Fiscal Quarters:
"Fixed Charge Coverage Ratio" means, with respect to Parent and its Subsidiaries for any period, the ratio of # EBITDA for such period minus Capital Expenditures made (to the extent not already incurred in a prior period) or incurred during such period, to # Fixed Charges for such period.
“Consolidated Fixed Charge Coverage Ratio” shall mean, with respect to any Test Period, the ratio of # Consolidated EBITDA of Lead Borrower and its Restricted Subsidiaries for such Test Period to # Consolidated Fixed Charges for such Test Period, in each case, calculated on a Pro Forma Basis.
Late Charge. In addition to its other remedies, Landlord shall have the right without notice or demand to add to the amount of any payment required to be made by Tenant hereunder, and which is not paid and received by Landlord on or before the first day of each calendar month, an amount equal to an amount equal to five percent (5%) of the delinquent amount, or $150.00, whichever amount is greater, for each month or portion thereof that the delinquency remains outstanding to compensate Landlord for the loss of the use of the amount not paid and the administrative costs caused by the delinquency, the parties agreeing that Landlords damage by virtue of such delinquencies would be extremely difficult and impracticable to compute and the amount stated herein represents a reasonable estimate thereof. Any waiver by Landlord of any late charges or failure to claim the same shall not constitute a waiver of other late charges or any other remedies available to Landlord.
Late Charge. If any monthly installment payment shall not have been paid within ten (10) days after the same becomes due and payable, the Lender, in addition to its other remedies, may collect, and the Borrower shall pay on demand, a late charge equal to five percent (5%) of the amount overdue.
Notwithstanding the foregoing, for purposes of determining the Fixed Charge Coverage Ratio as of any testing date, Fixed Charges shall be reduced by an amount equal to the lesser of # the aggregate amount of Fixed Charges described in sub-clauses (i) and (ii) of [clause (b) above] that are attributable to, paid or scheduled to be paid in respect of Deferred Acquisition Obligations incurred in connection with Permitted Acquisitions, and # the Available Deferred Acquisition Obligation Netting Amount as of such testing date.
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