Common use of Consolidated EBITDAR Clause in Contracts

Consolidated EBITDAR. The Company will not permit, as of the end of each fiscal quarter described below, the ratio of Consolidated EBITDAR to Fixed Charges for the respective period described below to be less than the respective amounts set forth opposite such fiscal quarter end in the following table: FISCAL QUARTER END MINIMUM RATIO ------------------ ------------- the four fiscal quarter period ending December 31, 2002 .98 to 1.00 the fiscal quarter ending March 31, 2003 .90 to 1.00 the two fiscal quarter period ending June 30, 2003 1.48 to 1.00 the three fiscal quarter period ending September 30, 2003 1.68 to 1.00 Cleveland-Cliffs, Inc. First Amendment Agreement the four fiscal quarter period ending December 31, 2003 1.80 to 1.00 the four fiscal quarter period ending March 31, 2004 1.82 to 1.00 the four fiscal quarter period ending June 30, 2004 1.88 to 1.00 the four fiscal quarter period ending September 30, 2004 1.95 to 1.00 the four fiscal quarter period ending December 31, 2004 and 2.06 to 1.00 for each fiscal quarter thereafter, for each fiscal period of four consecutive fiscal quarters

Consolidated EBITDAR. The Company will not permit, as of the end of each fiscal quarter described below, the ratio of Consolidated EBITDAR to Fixed Charges for the respective period described below to be less than the respective amounts set forth opposite such fiscal quarter end in the following table: FISCAL QUARTER END MINIMUM RATIO ------------------ ------------- the four fiscal quarter period ending .98 to 1.00 December 31, 2002 .98 to 1.00 the fiscal quarter ending March 31, 2003 .90 to 1.00 the two fiscal quarter period ending Not Tested June 30, 2003 1.48 to 1.00 the three fiscal quarter period ending .00 to 1.00 September 30, 2003 1.68 to 1.00 Cleveland-Cliffs, Inc. First Amendment Agreement the four fiscal quarter period ending .75 to 1.00 December 31, 2003 1.80 to 1.00 the four fiscal quarter period ending .85 to 1.00 March 31, 2004 1.82 to 1.00 the four fiscal quarter period ending 1.40 to 1.00 June 30, 2004 1.88 to 1.00 the four fiscal quarter period ending 1.80 to 1.00 September 30, 2004 1.95 to 1.00 the four fiscal quarter period ending December 31, 2004 and 2.06 to 1.00 for each fiscal quarter thereafter, for each fiscal period of four consecutive fiscal quarters2004