Minimum Interest Coverage. Borrower shall not permit, at any time, the ratio (the “Interest Coverage Ratio”) of (a) Home Building EBITDA to (b) Consolidated Home Building Interest Incurred, for any period consisting of the preceding four (4) consecutive fiscal quarters (each, a “Measurement Period”), to be less than 1.75 to 1.0. An example of the calculation of the Interest Coverage Ratio is as set forth in Schedule 8.20.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/), Term Loan Agreement (Standard Pacific Corp /De/)
Minimum Interest Coverage. Borrower shall not permit, at any time, the ratio (the “Interest Coverage Ratio”) of (a) Home Building EBITDA to (b) Consolidated Home Building Interest Incurred, for any period consisting of the preceding four (4) consecutive fiscal quarters (each, a “Measurement Period”), to be less than 1.75 to 1.0. An example of the calculation of the Interest Coverage Ratio is as set forth in Schedule 8.208.17.
Appears in 1 contract
Sources: Term Loan B Credit Agreement (Standard Pacific Corp /De/)