Funded Indebtedness to EBITDA Ratio. The Borrower will not permit the Funded Indebtedness to EBITDA Ratio on the last day of any fiscal quarter to be greater than two to one (2.00:1).
Funded Indebtedness to EBITDA Ratio. The Borrower will not permit its Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter, to exceed 3.5 to 1.0. The Funded Indebtedness to EBITDA Ratio shall be calculated on a trailing twelve (12) month basis and tested on the last day of each fiscal quarter commencing with the calendar quarter ending December 31, 2020.
Average Total Funded Debt to EBITDA. Borrower shall maintain an Average Total Funded Debt to EBITDA Ratio of no more than 4.0 to 1.0, measured on a twelve month trailing basis for each fiscal quarter beginning with the fiscal quarter ending September 30, 2022, and for each fiscal quarter period ending thereafter until the Indebtedness is indefeasibly paid in full, in each case calculated as of the end of such fiscal quarter.
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