Common use of Debt Service Ratio Clause in Contracts

Debt Service Ratio. A debt service ratio that is equal to or greater than 1.2 to 1, defined as earnings before interest, income taxes, depreciation and amortization divided by the current portion of long-term debt plus interest expense; provided, however, that for each of the ITT ESI fiscal quarters ending June 30, 2013 through March 31, 2015 (the “Debt Service Ratio Suspension Period”), compliance with this debt service ratio covenant is not required, and the failure to comply with this debt service ratio covenant during the Debt Service Ratio Suspension Period shall not require an increase in Collateralization Percentage pursuant to Section 6.3 of the Agreement;

Debt Service Ratio. A debt service ratio that is equal to or greater than 1.2 to 1, defined as earnings before interest, income taxes, depreciation and amortization divided by the current portion of long-term debt plus interest expense; provided, however, that for each of the ITT ESI fiscal quarters ending June 30, 2013 through March 31, 2015 2016 (the “Debt Service Ratio Suspension Period”), compliance with this debt service ratio covenant is not required, and the failure to comply with this debt service ratio covenant during the Debt Service Ratio Suspension Period shall not require an increase in Collateralization Percentage pursuant to Section 6.3 of the Agreement;

Debt Service Ratio. A debt service ratio that is equal to or greater than 1.2 to 1, defined as earnings before interest, income taxes, depreciation and amortization divided by the current portion of long-term debt plus interest expense; provided, however, that for each of the ITT ESI fiscal quarters ending ended June 30, 2013 2013, through March December 31, 2015 2014 (the “Debt Service Ratio Suspension Period”), compliance with this debt service ratio covenant is not required, and the failure to comply with this debt service ratio covenant during the Debt Service Ratio Suspension Period shall not require an increase in Collateralization Percentage pursuant to Section 6.3 of the Agreement;