Fixed Charge Coverage Ratio

Fixed Charge Coverage Ratio. Means EBITDA (as determined in accordance with GAAP) for the related Test Period, divided by the Fixed Charges for such Test Period

Fixed Charge Coverage Ratio. Means the ratio of (a) net income plus interest (including payments in the nature of interest under capital leases and payment in kind interest), plus income taxes, plus depreciation, plus amortization, plus operating lease expense, minus extraordinary income, in each case as determined on a trailing 12 month basis from the Measurement Date, to (b) the sum of (i) the aggregate principal to be paid or accrued, the aggregate rental under capital leases to be paid or accrued and rental and other... obligations under leases to be paid or accrued, each as calculated on a forward twelve-month basis in accordance with obligations from the Measurement Date, and (ii) the aggregate interest paid or accrued, the aggregate operating lease expense paid or accrued, any dividends and other distributions paid or accrued to equity holders (whether permitted in the Loan Agreement or not) and income taxes paid in cash, in each case determined on a trailing 12 month basis from the Measurement Date. For the fiscal quarters ending as of June 30, 2006, September 30, 2006, December 31, 2006, and March 31, 2007, the Fixed Charge Coverage Ratio shall be annualized with respect to a trailing 12-month period by using the factor set forth below for the corresponding Measurement Date: Calculation Date Period Annualized Factor As of June 30, 2006 From May 1, 2006 through and including June 30, 2006 6 As of September 30, 2006 From May 1, 2006 through and including September 30, 2006 2.4 As of December 31, 2006 From May 1, 2006 through and including December 31, 2006 1.5 As of March 31, 2007 From May 1, 2006 through and including March 31, 2007 1.0909 Items (a) and (b) shall be prepared on a consolidated basis from Borrower's regular financial statements as of the Measurement Date and shall be prepared in accordance with GAAP except footnotes and regular year-end adjustments. View More

Fixed Charge Coverage Ratio. US Borrower shall not suffer or permit as of the last day of any fiscal quarter the Fixed Charge Coverage Ratio to be less than (i) 1.00 to 1.00 for the periods ending September 30, 2011, December 31, 2011, March 31, 2012, June 30, 2012, and September 30, 2012 and (ii) 1.25 to 1.00 for the periods ending December 31, 2012 and thereafter; provided, however, that at all times during the period commencing September 30, 2011 and ending on September 30, 2012, the Total Commitment Amount must exceed... the sum of the aggregate outstanding principal amount of all Revolving Loans plus the Letter of Credit Exposure plus the Swing Line Exposure by an amount no less than Ten Million Dollars ($10,000,000). View More

Fixed Charge Coverage Ratio. With respect to Borrower and its Subsidiaries on a consolidated basis for any consecutive period of four fiscal quarters, the ratio of (a) the sum for such period of (i) EBITDAR, minus (ii) dividends and distributions to shareholders declared or paid, to (b) the sum for such period of (i) Interest Expense, plus (ii) cash taxes, plus (iii) scheduled principal payments of Indebtedness, plus (iv) Rent Expense

Fixed Charge Coverage Ratio. With respect to any Person shall mean the ratio of (a) the sum of EBITDA and all amounts payable under all non-cancellable operating leases (determined on a consolidated basis in accordance with generally accepted accounting principles, consistently applied) for the period in question, to (b) the sum of (without duplication) (i) Interest Expense for such period, (ii) the sum of the scheduled current maturities (determined in accordance with generally accepted accounting principles consistently... applied) of Funded Debt during the period in question, (iii) all amounts payable under non-cancellable operating leases (determined as aforesaid) during such period, and (iv) without duplication, all amounts payable with respect to capitalized leases (determined on a consolidated basis in accordance with generally accepted accounting principles, consistently applied) for the period in question. Fixed Charge Coverage Ratio shall be calculated without regard to (i) the indebtedness of Pilgrim's Pride relating to the Protein IRB Bond in the definition of "Funded Debt" to the extent proceeds remain held in trust and not paid to Pilgrim's Pride pursuant to the terms of the Protein IRB Bond and (ii) the indebtedness, if any, of Pilgrim's Pride or its subsidiaries, as lessee, relating to the Intercompany Bonds in the definition of "Funded Debt" or otherwise so long as Pilgrim's Pride or a subsidiary of Pilgrim's Pride remains the holder of such Intercompany Bonds View More

Fixed Charge Coverage Ratio. Means, for any period, the ratio of (i) the sum of (A) Net Income, plus (B) depreciation and amortization, plus/minus (C) Net Distributions, to (ii) Current Maturities of Long Term Debt.

Fixed Charge Coverage Ratio. The ratio determined by dividing (A) EBITDA minus cash Capital Expenditures by (B) the sum of: (a) all scheduled interest obligations paid and (b) the amount of all scheduled principal repaid on Indebtedness and (c) the aggregate amount of all payments (other than the initial $2,500,000 payment) made to F&G pursuant to the Settlement Agreement.

Fixed Charge Coverage Ratio. As of the close of any Fiscal Quarter, the ratio computed for the period consisting of such Fiscal Quarter and each of the three immediately preceding Fiscal Quarters of (a) EBITDA (for all such Fiscal Quarters) minus Capital Expenditures made during such Fiscal Quarters; provided that for purposes of calculating the Fixed Charge Coverage for any Fiscal Quarter ending in the 2007, 2008 and 2009 Fiscal Years, up to $30,000,000 of Capital Expenditures made in any such Fiscal Year, but not... exceeding $45,000,000 of Capital Expenditures in all such Fiscal Years, in each case as related to restructuring initiatives, shall be excluded from such calculation, to (b) the sum (for all such Fiscal Quarters) of (i) Interest Expense actually paid in cash during such Fiscal Quarters (excluding (A) initial issuance costs paid in connection with Indebtedness incurred in respect of the Obligations, (B) any make-whole premium or Interest Expense payable in connection with the prepayment of Indebtedness under the 1998 Indenture, and (C) if applicable, any swap breakage costs incurred in connection with a prepayment of the Term Loan), (ii) scheduled principal repayments of Indebtedness (other than Indebtedness issued under the Indentures) actually made during such Fiscal Quarters (including repayments of the Term Loans pursuant to clause (c) of Section 3.1.1), (iii) finance expenses paid in connection with the Permitted Receivables Program during such Fiscal Quarters, and (iv) Restricted Payments made by the Company during such Fiscal Quarters. View More

Fixed Charge Coverage Ratio. Is hereby amended by inserting immediately following the words "in cash" in clause (a)(iii) therein the phrase "(but in no event less than zero in the aggregate)"

Fixed Charge Coverage Ratio. For the measurement period of twelve (12) consecutive months, the ratio of (a) EBITDA divided by (b) the sum of (i) scheduled principal payments for the Loans, (ii) scheduled principal payments for Subordinated Debt, (iii) interest on the Loans, (iv) interest on Subordinated Debt, (v) Distributions, (vi) Maintenance Capital Expenditures, and (vii) less Equity Contributions, all as computed on a consolidated basis with the Affiliated Borrower. Solely for purposes of the computation of the Fixed... Charge Coverage Ratio, Equity Contributions shall be reduced by the amount that Capital Expenditures, other than Maintenance Capital Expenditures, exceeds One Million and No/100 Dollars ($1,000,000.00), if any. View More