Common use of Minimum Interest Expense Coverage Ratio Clause in Contracts

Minimum Interest Expense Coverage Ratio. Guarantor shall not, as of any date of determination with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit the ratio of (i) all amounts set forth on an income statement of Guarantor and its consolidated Subsidiaries prepared in accordance with GAAP (excluding, for the period up to and including December 31, 2025, the impact of one-time reversals of accrued interest income deemed uncollectible pursuant to the Guarantor’s policies) for interest income for the period of four (4) consecutive fiscal quarters ended on or most recently prior to such date of determination to (ii) the Interest Expense of Guarantor and its consolidated Subsidiaries for such period, to be (u) at all times prior to and including June 30, 2024, less than 1.30 to 1.00, (v) at all times after June 30, 2024 through and including September 30, 2024, less than 1.20 to 1.00, (w) at all times after September 30, 2024 through and including December 31, 2024, less than 1.10 to 1.00, (x) at all times after December 31, 2024 through and including March 31, 2025, less than 1.15 to 1.00, (y) at all times after March 31, 2025 through and including December 31, 2025, less than 1.20 to 1.00 and (z) at all times thereafter, less than 1.30 to 1.00.

Minimum Interest Expense Coverage Ratio. Guarantor shall not, as of any date of determination with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit the ratio of (i) all amounts set forth on an income statement of Guarantor and its consolidated Subsidiaries prepared in accordance with GAAP (excluding, for the period up to and including December 31, 2025, the impact of one-time reversals of accrued interest income deemed uncollectible pursuant to the GuarantorCompany’s policies) for interest income for the period of four (4) consecutive fiscal quarters ended on or most recently prior to such date of determination to (ii) the Interest Expense of Guarantor and its consolidated Subsidiaries for such period, to be (uv) at all times prior to and including June 30, 2024, less than 1.30 to 1.00, (vw) at all times after June 30, 2024 through and including September 30, 2024, less than 1.20 to 1.00, (wx) at all times after September 30, 2024 through and including December 31, 2024, less than 1.10 to 1.00, (xy) at all times after December 31, 2024 through and including March 31, 2025, less than 1.15 to 1.00, (y) at all times after March 31, 2025 through and including December 31, 2025, less than 1.20 to 1.00 and (z) at all times thereafter, less than 1.30 to 1.00.

Minimum Interest Expense Coverage Ratio. Guarantor shall not, as of any date of determination with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit the ratio of (i) all amounts set forth on an income statement of Guarantor and its consolidated Subsidiaries prepared in accordance with GAAP for interest income (excluding, for the period up to and including December 31, 2025, excluding the impact of one-time reversals of accrued interest income deemed uncollectible pursuant to the Guarantor’s policies, limited to the amount of such income earned prior to the trailing four (4) for interest income fiscal quarter period) for the period of four (4) consecutive fiscal quarters ended on or most recently prior to such date of determination to (ii) the Interest Expense of Guarantor and its consolidated Subsidiaries for such period, to be less than: (ui) at all times prior 1.20 to and including 1.00, for fiscal quarter ending September 30, 2024; (ii) 1.10 to 1.00, for fiscal quarter ending December 31, 2024; (iii) 1.15 to 1.00, for fiscal quarter ending March 31, 2025; (iv) 1.20 to 1.00, for fiscal quarter ending June 30, 20242025; (v) 1.20 to 1.00, less than for fiscal quarter ending September 30, 2025; (vi) 1.20 to 1.00, for fiscal quarter ending December 31, 2025; and (vii) 1.30 to 1.00, (v) at for all times after June 30, 2024 through and including September 30, 2024, less than 1.20 to 1.00, (w) at all times after September 30, 2024 through and including December 31, 2024, less than 1.10 to 1.00, (x) at all times after December 31, 2024 through and including March 31, 2025, less than 1.15 to 1.00, (y) at all times after March 31, 2025 through and including December 31, 2025, less than 1.20 to 1.00 and (z) at all times fiscal quarters thereafter, less than 1.30 to 1.00.”