I would now like to comment on our bank covenants, our main two tests under the credit [ruining] of secured net leverage ratio, and the interest coverage ratio. The secured net leverage ratio is calculated as a ratio of total secured debt, less unrestricted cash and cash equivalent to a consolidated EBITDA, while the interest rate coverage is a ratio of consolidated EBITDA as defined -- compared with consolidated interest expense for the period.
Under the EBITDA calculations and above ratios, it's a trailing 12-month calculation against the net income of certain pro forma adjustments that account for the impact of material acquisitions for divestitures, adjustments for interest or taxes or depreciation and amortization, and net income attributable to noncontrolling interest, stock compensation, restructuring costs, and the financial impact of other non-cash or nonrecurring items during a 12-month period.
For the 12-month period ending September 30, 2016, the secured net leverage ratio of financial covenant other than the ratios of secured debt is defined to less than 4.25 to 1. And for the 12-month period ending September 30, the interest ratio financial covenant in the credit facility limited to ratio of consolidated EBITDA or consolidated interest to greater than or equal to 2.0.
The Company was in compliance with all such covenants as September 30, 2016, with a secured net leverage ratio of 3.95 and an interest rate coverage of 2.55. Our interest rate cushion on our secured leverage ratio is about 7% and our EBITDA cushion on interest coverage is about 27%.
