Fixed Charge Coverage Ratio

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

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: