Fixed Charge Coverage Ratio Test definition

Fixed Charge Coverage Ratio Test and together with the Senior Leverage Ratio Test, the “Tests”); and

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Fixed Charge Coverage Ratio Test means, at any date, that the Fixed Charge Coverage Ratio is at least 2.00 to 1.00.

Fixed Charge Coverage Ratio Test provided that the maximum aggregate principal amount of Debt, Disqualified Stock or Preferred Stock that Restricted Subsidiaries that are neither Issuers nor Guarantors may incur under this subsection (a) is $10.0 million outstanding at any time.

Examples of Fixed Charge Coverage Ratio Test in a sentence

Beginning on any date that the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding such date would have been at least 2 to 1 (the“Fixed Charge Coverage Ratio Test”), such Scheduled Rate shall be 1% per annum in excess of the rate then in effect until (and not including) such date as the Fixed Charge Coverage Ratio Test is satisfied.
Please be advised that the Administrative Agent and Banks hereby consent to the suspension of the July Minimum Fixed Charge Coverage Ratio Test; provided, however, that such consent is given subject to the satisfaction of the Conditions (as defined below) on or before the date hereof.
The Loan Parties have requested that the Administrative Agent and the Banks suspend the testing of this Minimum Fixed Charge Coverage Ratio for the fiscal quarter period ending July 30, 2022 (the "July Minimum Fixed Charge Coverage Ratio Test").
Holdings and its Subsidiaries shall maintain a Fixed Charge Coverage Ratio (as calculated on a consolidated basis) of at least 1.0 to 1.0 for each Fixed Charge Coverage Ratio Test Period ending during any Financial Covenant Trigger Period and on the date of the occurrence of the trigger for the applicable Financial Covenant Trigger Period.
Holdings and its Restricted Subsidiaries shall maintain a Fixed Charge Coverage Ratio (as calculated on a consolidated basis) of at least 1.0 to 1.0 for each Fixed Charge Coverage Ratio Test Period ending during any Financial Covenant Trigger Period and on the date of the occurrence of the trigger for the applicable Financial Covenant Trigger Period.

More Definitions of Fixed Charge Coverage Ratio Test

Fixed Charge Coverage Ratio Test means, with respect to the consummation of a proposed transaction, or occurrence of any other event giving rise to requirement to calculate or meet such Fixed Charge Coverage Ratio Test, a test of whether, if the Parent incurred $1.00 of additional Indebtedness, the Fixed Charge Coverage Ratio for the Parent’s most recently ended four full fiscal quarters for which internal financial statements were available immediately preceding the date of consummation of such transaction, or occurrence of such other event, would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if such transaction had been consummated, or such other event had occurred, as the case may be, at the beginning of such four-quarter period.

Fixed Charge Coverage Ratio Test provided, further, that the amount of Indebtedness (including Acquired Indebtedness or Attributable Debt), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, pursuant to the foregoing by Restricted Subsidiaries that are not Subsidiary Guarantors shall not exceed $125,000,000 at any one time outstanding.

Fixed Charge Coverage Ratio Test means that the Fixed Charge Coverage Ratio for the Company and its Subsidiaries, on a consolidated basis, for the most recently completed four full fiscal quarters for which internal financial statements are available immediately preceding the date on which any additional Indebtedness is incurred or any Disqualified Stock or any preferred stock or preferred interests are issued, as the case may be, would have been at least 3.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred stock or preferred interests had been issued, as the case may be, at the beginning of such four-quarter period.

Fixed Charge Coverage Ratio Test means that the Fixed Charge Coverage Ratio is not greater than 2.00 to 1.00 for the period of the four consecutive fiscal quarters ending on the last day of the most recent quarter for which financial statements have been delivered hereunder.

Fixed Charge Coverage Ratio Test means, with respect to the consummation of a proposed transaction, or occurrence of any other event giving rise to requirement to meet such Fixed Charge Coverage Ratio Test, a test of whether, if the Parent incurred $1.00 of additional Indebtedness, the Fixed Charge Coverage Ratio for the Parent’s most recently ended four full fiscal quarters for which internal financial statements were available immediately preceding the date of consummation of such transaction, or occurrence of such other event, would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if such transaction had been consummated, or such other event had occurred, as the case may be, at the beginning of such four-quarter period.

Fixed Charge Coverage Ratio Test or (2) the Consolidated Net Leverage Ratio for Parent and its Restricted Subsidiaries, calculated as of the date on which such additional Indebtedness is incurred or such Disqualified Stock or preferred stock is issued or the date of determination, as the case may be, would have been less than or equal to 6.75 to 1.00 (the “Consolidated Net Leverage Ratio Test”), in each case, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such four-quarter period or on such date, as applicable; provided further that Restricted Subsidiaries that are not Guarantors may not incur Indebtedness or issue shares of Disqualified Stock or preferred stock pursuant to this Section 4.09(a) if, after giving pro forma effect to such incurrence or issuance (including a pro forma application of the net proceeds therefrom), the aggregate amount of Indebtedness, Disqualified Stock, or preferred stock of Restricted Subsidiaries that are not Guarantors outstanding at the time of such incurrence or issuance, when taken together with amounts incurred by Restricted Subsidiaries that are not Guarantors or Issuers under clauses (1)(C)(iii) and (12)(x) of Section 4.09(b) hereof and clause (5) of Section 4.09(b) hereof to the extent such amounts represent the refinancing of amounts initially incurred pursuant to this proviso or clauses (1)(C)(iii) or (12)(x) of Section 4.09(b) hereof, would exceed the greater of (x) $350.0 million and (y) 62.5% of Consolidated EBITDA (the “Non-Guarantor Debt Cap”).

Fixed Charge Coverage Ratio Test set forth in the first paragraph of Section 4.09; and

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