Minimum Interest Coverage. Commencing on October 1, 2013, the Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less than 2.00 to 1.00. Such ratio shall at all times be calculated on a trailing four quarter basis.”
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Sources: Second Amendatory Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Minimum Interest Coverage. Commencing on October 1, 2013, the The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense (excluding any commitment fees on the undrawn parts of not less than the Total Commitments) equal to or greater than:
(a) from the date of this Agreement up to (and including) September 30, 2013, 2.00 to 1.00; and
(b) at all other times thereafter, 2.50 to 1.00. Such ratio shall at all times be calculated quarterly on a trailing four quarter basis.”
Appears in 2 contracts
Sources: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Minimum Interest Coverage. Commencing on October 1, 2013, the The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less greater than 2.00 2.50 to 1.00. Such ratio shall at all times be calculated on the last day of each Accounting Period on a trailing four quarter basis.”
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Minimum Interest Coverage. Commencing on October 1, 2013, the The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less than 1.00 to 1.00 for the quarter ending September 30, 2015 until and including the quarter ending December 31, 2016, 2.00 to 1.00 for the quarter ending March 31, 2017 until and including the quarter ending December 31, 2017, and thereafter 2.50 to 1.00. Such ratio shall at all times be calculated quarterly on a trailing four quarter basis.”
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Minimum Interest Coverage. Commencing on October 1, 2013, the The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less than greater than:
(a) from 30 September 2015 up to (and including) 31 December 2016, 1.00 to 1.00;
(b) from 1 January 2017 up to (and including) 31 December 2017, 2.00 to 1.00; and
(c) at all other times thereafter, 2.50 to 1.00. Such ratio shall at all times be calculated on the last day of each Accounting Period on a trailing four quarter basis.”
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Minimum Interest Coverage. Commencing on October 1, 2013, the The Borrower shall maintain a ratio of Consolidated EBITDA to Consolidated Net Interest Expense of not less greater than 1.00 to 1.00 for the quarter ending September 30, 2015 until and including the quarter ending December 31, 2016, greater than 2.00 to 1.00 for the quarter ending March 31, 2017 until and including the quarter ending December 31, 2017, and thereafter greater than 2.50 to 1.00. Such ratio shall at all times be calculated quarterly on a trailing four quarter basis.”
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