HSBC loan covenantsSection 9.4 Financial Covenants. The Borrower hereby covenants and agrees with the Administrative Agent and the Lenders that so long as this Agreement is in force:
(a)
Fixed Charge Coverage Ratio. The Borrower shall maintain, at all times, the Fixed Charge Coverage Ratio as determined on a consolidated, rolling four quarter basis in accordance with GAAP, for the four Fiscal Quarters then ended, of not less than 1.20 to 1.00.
(b) Senior Leverage Ratio. The Borrower shall maintain, at all times, the Senior Leverage Ratio as determined on a consolidated, rolling four quarter basis in accordance with GAAP, for the four Fiscal Quarters then ended, of not more than:
(i) 3.50 to 1.00 as at the Closing Date and thereafter up to and including the Fiscal Quarter ending March 31, 2023; and
(ii) 3.00 to 1.00 as at the Fiscal Quarter commencing April 1, 2023, and at all times thereafter (up to and including the Maturity Date).
Provided however, the Senior Leverage Ratio may increase by ___ to ___ for the two Fiscal Quarters immediately following a Permitted Acquisition if the aggregate purchase price in respect of such Acquisition was equal to or great than _____U.S. Dollars (USD$____ ).