Consolidated Net Interest Coverage Ratio Sample Clauses
The Consolidated Net Interest Coverage Ratio clause defines the minimum ratio of a company's earnings to its interest expenses that must be maintained on a consolidated basis. This ratio is typically calculated by dividing consolidated earnings before interest and taxes (EBIT) by consolidated net interest expense, and is often tested periodically, such as quarterly or annually, under the terms of a loan or credit agreement. Its core practical function is to ensure that the borrower maintains sufficient earnings to comfortably cover its interest obligations, thereby reducing the lender's risk of default due to inadequate cash flow.
Consolidated Net Interest Coverage Ratio. Commencing with the Test Period ending September 30, 2012, permit the Consolidated Net Interest Coverage Ratio as at the last day of any Test Period to be less than 3.00:1.00.
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio as of the end of any fiscal quarter of AWI to be less than 3.0:1.0.
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio as of the end of any fiscal quarter of Holdings to be less than 3.00:1.00.
Consolidated Net Interest Coverage Ratio. The Borrowers will not permit the Consolidated Net Interest Coverage Ratio for any period of four consecutive fiscal quarters, in each case taken as one accounting period, ended on the last day of a fiscal quarter set forth below to be less than the amount set forth opposite such period below: Fiscal Quarter Ended Closest to Ratio ------------------ ----------- December 31, 1996 3.00:1.00 March 31, 1997 3.00:1.00 June 30, 1997 3.00:1.00 September 30, 1997 3.25:1.00 December 31, 1997 3.25:1.00 March 31, 1998 3.25:1.00 June 30, 1998 3.25:1.00 September 30, 1998 3.50:1.00 and the last day of each fiscal quarter thereafter
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio as at the last day of any fiscal quarter of the Company for each fiscal quarter ended after the Closing Date to be less than 3.5 to 1.0; provided that at any time after the definitive agreement for any Qualified Acquisition shall have been executed (or, in the case of a Qualified Acquisition in the form of a tender offer or similar transaction, after the offer shall have been launched) and prior to the consummation of such Qualified Acquisition (or termination of the definitive documentation in respect thereof (or such later date as such Indebtedness ceases to constitute Acquisition Debt)), any Acquisition Debt (and the proceeds of such Acquisition Debt and including, for the avoidance of doubt, any Consolidated Interest Income and Consolidated Interest Expense arising from such Acquisition Debt) shall be excluded from the determination of the Consolidated Net Interest Coverage Ratio).
Consolidated Net Interest Coverage Ratio. The Borrower will not permit the Consolidated Net Interest Coverage Ratio for any Test Period ended after the Initial Borrowing Date to be less than 2.25:1.0.
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio of Holdings for any period of four consecutive fiscal quarters of Holdings ending with any fiscal quarter set forth below to be less than the ratio set forth below opposite such fiscal quarter: Consolidated Interest Fiscal Quarter Coverage Ratio -------------- -------------- March 31, 2004 3.25 to 1.00 June 30, 2004 3.25 to 1.00 September 30, 2004 3.25 to 1.00 December 31, 2004 3.25 to 1.00 March 31, 2005 3.50 to 1.00 June 30, 2005 3.50 to 1.00 September 30, 2005 3.50 to 1.00 December 31, 2005 3.50 to 1.00 March 31, 2006 3.75 to 1.00 June 30, 2006 3.75 to 1.00 September 30, 2006 3.75 to 1.00 December 31, 2006 3.75 to 1.00 March 31, 2007 4.00 to 1.00 June 30, 2007 4.00 to 1.00 September 30, 2007 4.00 to 1.00 December 31, 2007 4.00 to 1.00 March 31, 2008 4.50 to 1.00 June 30, 2008 4.50 to 1.00 September 30, 2008 4.50 to 1.00 December 31, 2008 4.50 to 1.00 March 31, 2009 5.00 to 1.00 June 30, 2009 5.00 to 1.00 September 30, 2009 5.00 to 1.00 December 31, 2009 5.00 to 1.00
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio of the Borrower for any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter set forth below to be less than the ratio set forth below opposite such fiscal quarter: Fiscal Year 2004 2.00:1.00 Fiscal Year 2005 2.00:1.00 Fiscal Year 2006 2.25:1.00 Fiscal Year 2007 2.50:1.00 Fiscal Year 2008 2.75:1.00 Fiscal Year 2009 3.00:1.00 Fiscal Year 2010 3.25:1.00 Fiscal Year 2011 3.50:1.00
Consolidated Net Interest Coverage Ratio. The Borrowers will not permit the Consolidated Net Interest Coverage Ratio for any period of four consecutive fiscal quarters (or, if shorter, the period beginning on January 1, 1996 and ended on the last day of a fiscal quarter ended after the Restatement Effective Date), in each case taken as one accounting period, ended on the last day of a fiscal quarter set forth below to be less than the amount set forth opposite such period below: Fiscal Quarter Ended Closest to Ratio ---------------- ----- March 31, 1996 1.75:1.0 June 30, 1996 1.90:1.0 September 30, 1996 2.10:1.0 December 31, 1996 2.25:1.0 March 31, 1997 2.35:1.0 June 30, 1997 2.35:1.0 September 30, 1997 2.35:1.0 December 31, 1997 2.65:1.0 March 31, 1998 2.70:1.0 June 30, 1998 2.80:1.0 September 30, 1998 2.90:1.0 December 31, 1998 3.00:1.0 March 31, 1999 3.05:1.0 June 30, 1999 3.10:1.0 September 30, 1999 3.15:1.0 December 31, 1999 3.25:1.0 March 31, 2000 3.30:1.0 June 30, 2000 3.35:1.0 September 30, 2000 3.40:1.0 December 31, 2000 3.50:1.0 March 31, 2001 3.55:1.0 June 30, 2001 3.60:1.0 September 30, 2001 3.65:1.0 December 31, 2001 3.75:1.0 March 31, 2002 3.80:1.0 June 30, 2002 3.85:1.0 September 30, 2002 3.90:1.0 December 31, 2002 and the last day of each fiscal quarter thereafter 4.00:1.0.
Consolidated Net Interest Coverage Ratio. Permit the Consolidated Net Interest Coverage Ratio of the US Borrower for any period of four consecutive fiscal quarters of the US Borrower ending during any period set forth below to be less than the ratio set forth below opposite such period: Consolidated Interest Period Coverage Ratio ------ -------------- Q2 2006 - Q4 2006 1.40 : 1.00 Q1 2007 - Q4 2007 1.50 : 1.00 Consolidated Interest Period Coverage Ratio ------ -------------- Q1 2008 - Q4 2008 1.70 : 1.00 Q1 2009 - Q4 2009 2.00 : 1.00 Q1 2010 and thereafter 2.25 : 1.00