Total Debt to EBITDAX. The Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (x) 5.25 to 1.0 for the fiscal quarter ending September 30, 2011, and (y) 4.75 to 1.0 for each fiscal quarter thereafter.
Appears in 1 contract
Sources: Second Lien Term Loan Credit Agreement (Magnum Hunter Resources Corp)
Total Debt to EBITDAX. The Commencing with the fiscal quarter ending June 30, 2011, the Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (x) 5.25 4.5 to 1.0 for commencing with the fiscal quarter ending June 30, 2011 through the quarter ending September 30, 2011, and (y) 4.75 4.0 to 1.0 for each fiscal commencing with the quarter ending December 31, 2011 and thereafter.
Appears in 1 contract
Total Debt to EBITDAX. The Commencing upon the first Redetermination Date, the Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (x) 5.25 4.5 to 1.0 for commencing with the fiscal first Redetermination Date through the quarter ending ended June 30, 2010, and 4.0 x 1.0 commencing with the quarter ended September 30, 2011, 2010 and (y) 4.75 to 1.0 for each fiscal quarter thereafter.
Appears in 1 contract
Total Debt to EBITDAX. The Commencing with the fiscal quarter ending March 31, 2010, the Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) total Debt of the Borrower and the Restricted Subsidiaries as of such date to (ii) EBITDAX of the Borrower and the Restricted Subsidiaries for the trailing four quarter period then ended to exceed (x) 5.25 4.5 to 1.0 for commencing with the fiscal quarter ending March 31, 2010 through the quarter ended September 30, 20112010, and (y) 4.75 to 4.0 x 1.0 for each fiscal commencing with the quarter ended December 31, 2010 and thereafter.
Appears in 1 contract