Lifetime Fitness 2008 Annual Report Download - page 45

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39
Debt Covenants
We are in compliance in all material respects with all restrictive and financial covenants under our various credit
facilities as of December 31, 2008.
Our primary financial covenants under our revolving credit facility are:
Requirement
Actual as of
December 31,
2008
Actual as of
December 31,
2007
Total Consolidated Debt to
EBITDAR ....................................... not more than 4.0 to 1.0 3.51 to 1.
0
3.22 to 1.0
Senior Debt to EBITDA .................. not more than 3.25 to 1.0 2.22 to 1.0 1.98 to 1.0
Fixed Charge Coverage Ratio ......... not less than 1.60 3.16 to 1.0 2.88 to 1.0
The formulas for these covenants are specifically defined in the revolving credit facility and include, among other things,
an add back of share-based compensation expense to EBITDAR and EBITDA.