Fixed Charge Coverage Ratio

Fixed Charge Coverage Ratio. With respect to each Borrower and its Subsidiaries for any period, the ratio of (i) EBITDA for such period, plus all management, consulting, monitoring, and advisory fees paid during such period to the extent deducted in the calculation of net income of such Borrower and its Subsidiaries minus (a) Non-Financed Capital Expenditures made (to the extent not already incurred in a prior period) or incurred during such period, (b) cash taxes paid during such period, to the extent greater than zero,... and (c) all Restricted Junior Payments consisting of Pass-Through Tax Liabilities, to (ii) Fixed Charges for such period View More

Fixed Charge Coverage Ratio. The Borrower will not permit the ratio of (a) Consolidated EBITDA minus Capital Expenditures minus Taxes paid in cash minus dividends to (b) Consolidated Interest Expense to be less than 3.50:1.0, to be tested as of the end of each Fiscal Quarter as follows: (i) for Fiscal Quarter ending March 31, 2013, for only such Fiscal Quarter, (ii) for Fiscal Quarter ending June 30, 2013, cumulative for Fiscal Quarters ending March 31, 2013 and June 30, 2013, (iii) for Fiscal Quarter ending September 30,... 2013, cumulative for Fiscal Quarters ending March 31, 2013, June 30, 2013 and September 30, 2013 and (iv) thereafter, on a rolling four (4) Fiscal Quarter basis. View More

Fixed Charge Coverage Ratio. The ratio of: (a) Borrower's EBITDA plus rent and operating lease payments, less distributions, dividends, increases in loans to Guarantor and capital expenditures (other than capital expenditures: (w) incurred with respect to the Magic Platform, (x) financed with equity contributions funded to Borrower by Guarantor, (y) financed with proceeds of the purchase money indebtedness or capital leases to the extent permitted under the Loan Documents, or (z) incurred with respect to the Illinois... Contract) and other extraordinary items during the applicable test period, divided by (b) the consolidated sum of (i) Borrower's interest expense, plus (ii) all scheduled principal payments (but excluding principal that is payable upon the Maturity Date) with respect to indebtedness paid or due and payable by the Constituent Entities during the applicable period plus rent and operating lease expenses incurred in the same such period. The test period shall be the prior seven (7) month period then ending for the Fixed Charge Coverage Ratio calculated as of December 31, 2016. The test period shall be the prior twelve (12) month period then ending for the Fixed Charge Coverage Ratio calculated as of December 31, 2017 and each December 31st thereafter for so long as the Loan Documents remain in effect. For purposes of the definition of Fixed Charge Coverage Ratio, (i) the term "Magic Platform" shall mean capital expenditures of up to Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) incurred by Borrower for the creation or implementation of its ‘Magic' software and operating platform during the period of June 1, 2016 to December 31, 2016 and (ii) the term "Illinois Contract" shall mean capital expenditures of up to One Million and No/100 Dollars ($1,000,000.00) incurred by Borrower for the purpose of securing equipment or funding software integration required under a contract with the State of Illinois during the period of January 1, 2017 to December 31, 2017. View More

Fixed Charge Coverage Ratio. The definition of "Fixed Charge Coverage Ratio" in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

Fixed Charge Coverage Ratio. Shall mean (A) the sum of (i) earnings before interest, taxes, depreciation and amortization of Borrower, less (ii) income taxes, less (iii) distributions and dividends of Borrower, less (iv) maintenance Capital Expenditures and other unfinanced Capital Expenditures, divided by (B) the sum of principal and interest payments due under indebtedness.

Fixed Charge Coverage Ratio. Fixed Charge Coverage Ratio, tested at the end of each fiscal quarter of Borrower (other than the fiscal quarter ending September 30, 2017), of not less than (i) 1.0 to 1.0 for the fiscal quarters ending March 31, 2017 and June 30, 2017, and (ii) 1.25 to 1.0 for the fiscal quarter ending December 31, 2017 and for each fiscal quarter thereafter.

Fixed Charge Coverage Ratio. Means, with respect to the Company and its Subsidiaries for any period, the ratio of (i) EBITDA for such period, minus (a) non-financed Capital Expenditures made (to the extent not already incurred in a prior period) or incurred during such period, and (b) cash taxes paid during such period, to the extent greater than zero, to (ii) Fixed Charges for such period.

Fixed Charge Coverage Ratio. Means EBITDA (as determined in accordance with GAAP) for the immediately preceding twelve (12) month period ending on the last date of the applicable Test Period, divided by the Fixed Charges for the immediately preceding twelve (12) month period ending on the last date of the applicable Test Period.

Fixed Charge Coverage Ratio. (a) EBITDA for such period minus Capital Expenditures (other than (i) Capital Expenditures financed with the proceeds of Indebtedness (other than proceeds of Advances), and (ii) Capital Expenditures purchased with the Net Cash Proceeds received relative to, and as a replacement, for, the disposition of Capital Expenditures) made (to the extent not already incurred in a prior period) or incurred during such period in accordance with Section 2.4(e)(ii) of the Agreement, to (b) Fixed Charges for... such period; provided, however, solely for the purpose of calculating this Fixed Charge Coverage Ratio, if Average Availability for the applicable quarter is greater than 12% of the Maximum Revolver Amount, Capital Expenditures for such quarter shall exclude Growth CapEx. View More

Fixed Charge Coverage Ratio. Means, with respect to the Company and its Subsidiaries for any period, the ratio of (i) the aggregate of (a) EBITDA for such period, plus (b) add backs of one time expenditures actually made up to $300,000 for fiscal year 2015 and up to $600,000 during fiscal year 2016 for the Company's expansion in China minus (c) Non-Financed Capital Expenditures made (to the extent not already incurred in a prior period) or incurred during such period, minus (d) cash taxes paid during such period, to the... extent greater than zero, divided by (ii) Fixed Charges for such period. View More