Christie/AIX amends, modifying leverage and fixed-charge ratios, adding senior leverage ratio

By Sara Rosenberg

New York, Oct. 16 - Christie/AIX, Inc. amended its credit facility, revising the leverage ratio (see table 1), adding a new consolidated senior leverage ratio (see table 2) and changing the consolidated fixed-charge coverage ratio (see table 3), according to an 8-K filed with the Securities and Exchange Commission Tuesday.

In addition, the amendment lowered the interest reserve to nine months from 12 months and modified the definition of total equity ratio.

The amendment was completed on Sept. 28.

General Electric Capital Corp. is the administrative agent on the deal.

Christie/AIX is a Hollywood, Calif.-based digital cinema system provider.

Table 1: Maximum Consolidated Leverage Ratio

Fiscal Quarter Ending Maximum Consolidated Leverage Ratio

June 30, 2007 14.0 to 1

Sept. 30, 2007 9.5 to 1

Dec. 31, 2007 7.75 to 1

March 31, 2008 6.5 to 1

June 30, 2008 5.25 to 1

Sept. 30, 2008 4.75 to 1

Dec. 31, 2008 4.25 to 1

March 31, 2009 4.0 to 1

June 30, 2009 4.0 to 1

Sept. 30, 2009 4.0 to 1

Dec. 31, 2009 3.75 to 1

March 31, 2010 3.5 to 1

June 30, 2010 3.5 to 1

Sept. 30, 2010 3.5 to 1

Dec. 31, 2010 3.25 to 1

March 31, 2011 2.75 to 1

June 30, 2011 2.75 to 1

Sept. 30, 2011 2.75 to 1

Dec. 31, 2011 2.5 to 1

March 31, 2012 2.0 to 1

June 30, 2012 2.0 to 1

Sept. 30, 2012 1.75 to 1

Dec. 31, 2012 1.5 to 1

March 31, 2013 1.0 to 1

June 30, 2013 0.75 to 1

Table 2: Maximum Consolidated Senior Leverage Ratio

Fiscal Quarter Ending Maximum Consolidated Senior Leverage Ratio

June 30, 2007 10.5 to 1

Sept. 30, 2007 9.0 to 1

Dec. 31, 2007 7.5 to 1

March 31, 2008 6.25 to 1

June 30, 2008 5.0 to 1

Sept. 30, 2008 4.5 to 1

Dec. 31, 2008 4.25 to 1

March 31, 2009 3.75 to 1

June 30, 2009 3.75 to 1

Sept. 30, 2009 3.75 to 1

Dec. 31, 2009 3.5 to 1

March 31, 2010 3.25 to 1

June 30, 2010 3.25 to 1

Sept. 30, 2010 3.0 to 1

Dec. 31, 2010 2.75 to 1

March 31, 2011 2.25 to 1

June 30, 2011 2.25 to 1

Sept. 30, 2011 2.0 to 1

Dec. 31, 2011 2.0 to 1

March 31, 2012 1.5 to 1

June 30, 2012 1.5 to 1

Sept. 30, 2012 1.25 to 1

Dec. 31, 2012 1.0 to 1

March 31, 2013 0.75 to 1

June 30, 2013 0.5 to 1

Table 3: Minimum Consolidated Fixed-Charge Coverage Ratio

Fiscal Quarter Ending Minimum Consolidated Fixed Charge Coverage Ratio

June 30, 2007 1.25 to 1

Sept. 30, 2007 1.25 to 1

Dec. 31, 2007 1.25 to 1

March 31, 2008 1.25 to 1

June 30, 2008 1.25 to 1

Sept. 30, 2008 1.25 to 1

Dec. 31, 2008 1.25 to 1

March 31, 2009 1.25 to 1

June 30, 2009 1.25 to 1

Sept. 30, 2009 1.25 to 1

Dec. 31, 2009 1.15 to 1

March 31, 2010 1.15 to 1

June 30, 2010 1.15 to 1

Sept. 30, 2010 1.1 to 1

Dec. 31, 2010 1.1 to 1

March 31, 2011 1.1 to 1

June 30, 2011 1.1 to 1

Sept. 30, 2011 1.1 to 1

Dec. 31, 2011 1.1 to 1

March 31, 2012 1.1 to 1

June 30, 2012 1.1 to 1

Sept. 30, 2012 1.1 to 1

Dec. 31, 2012 1.1 to 1

March 31, 2013 1.1 to 1

June 30, 2013 1.1 to 1

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