Consolidated Total Debt to Consolidated EBITDAX Clause Samples

The 'Consolidated Total Debt to Consolidated EBITDAX' clause defines a financial covenant that measures a company's leverage by comparing its total outstanding debt to its earnings before interest, taxes, depreciation, amortization, and exploration expenses. This ratio is typically calculated on a consolidated basis, meaning it includes all subsidiaries and related entities, and is used to assess the company's ability to service its debt. By setting a maximum allowable ratio, the clause helps ensure that the company maintains a manageable level of debt relative to its cash-generating capacity, thereby protecting lenders from excessive credit risk.
Consolidated Total Debt to Consolidated EBITDAX. Commencing with the fiscal quarter ending March 31, 2008, the Borrower will not permit, as of the last day of any fiscal quarter, its ratio of Consolidated Total Debt (for the fiscal quarter ending on such date) to Annualized Consolidated EBITDAX to be greater than 3.5 to 1.0 for each fiscal quarter.
View SourceView Similar (5)
Consolidated Total Debt to Consolidated EBITDAX. Commencing with the fiscal quarter ending June 30, 2010, Parent will not permit, as of the last day of any fiscal quarter, to the extent any Borrowings are outstanding on such day, the ratio of Consolidated Total Debt (on such date) to Consolidated EBITDAX (for each Rolling Period ending on such date) or Annualized Consolidated EBITDAX for such Rolling Period in the case of Rolling Periods ending on or prior to December 31, 2010 to be greater than (i) 4.50 to 1.0 for the Rolling Periods ending on June 30, 2010, September 30, 2010, and December 31, 2010 (ii) 4.25 to 1.0 for the Rolling Periods ending on March 31, 2011, June 30, 2011 and September 30, 2011 and (iii) 4.00 to 1.0 for the Rolling Period ending on December 31, 2011 and for each Rolling Period thereafter.
View SourceView Similar (2)
Consolidated Total Debt to Consolidated EBITDAX. Borrower will not permit, as of the last day of any Rolling Period ending on or after December 31, 2012, its ratio of Consolidated Total Debt as of such day to Consolidated EBITDAX (or in the case of the Rolling Periods ending on December 31, 2012, March 31, 2013 and June 30, 2013, Annualized Consolidated EBITDAX) for the Rolling Period ending on such day to be greater than 4.0 to 1.0.
View Source

Related to Consolidated Total Debt to Consolidated EBITDAX

  • Consolidated Total Leverage Ratio As of the last day of any fiscal quarter, permit the Consolidated Total Leverage Ratio to be greater than 3.00 to 1.00.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

  • Consolidated Net Leverage Ratio Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Consolidated Senior Leverage Ratio Permit the Consolidated Senior Total Leverage Ratio as of the end of each of the Fiscal Quarters ending on the dates set forth for the period of four Fiscal Quarters ending on such date below to be greater than the ratio set forth below opposite such period: March 31, 2008 through December 31, 2008 3.50 to 1.00 March 31, 2009 through December 31, 2009 3.25 to 1.00 March 31, 2010 through December 31, 2010 3.00 to 1.00 March 31, 2011 through December 31, 2011 2.50 to 1.00 March 31, 2012 through December 31, 2013 2.25 to 1.00