Consolidated Total Debt to Consolidated EBITDAX Ratio

Consolidated Total Debt to Consolidated EBITDAX Ratio. Shall mean, as of any date of determination, the ratio of (a) Consolidated Total Debt less (i) at any time that Total Exposure of all of the Lenders is zero as of the last day of the most recent Test Period ended on or prior to such date of determination Unrestricted Cash and (ii) at any time that Total Exposure of all of the Lenders is greater than zero as of the last day of the most recent Test Period ended on or prior to such date of determination Unrestricted Cash in an amount not to exceed... $40,000,000 to (b) Consolidated EBITDAX for such Test Period. View More