Adjustment of Permitted Leverage Ratio Sample Clauses

Adjustment of Permitted Leverage Ratio. If at any time at which the Permitted Leverage Ratio is less than 55%, Borrower shall satisfy the Interest Coverage Test (which for purposes of this Section 9.2(c) shall be deemed satisfied only if, on the same day on which Borrower satisfies the Interest Coverage Test, Borrower is also in compliance with the Leverage Test), then the Permitted Leverage Ratio, effective as of the fiscal quarter immediately following the fiscal quarter with respect to which Borrower shall have so satisfied the Interest Coverage Test, shall be increased as follows: (i) upon satisfaction of the Interest Coverage Test on a date on which the Permitted Leverage Ratio is 50%, the Permitted Leverage Ratio for the next fiscal quarter shall be increased to 55%; and (ii) upon satisfaction of the Interest Coverage Test on a date on which the Permitted Leverage Ratio is less than 50%, the Permitted Leverage Ratio for the next fiscal quarter shall be increased by 2.5%. In no event shall the Permitted Leverage Ratio exceed 55%.
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Adjustment of Permitted Leverage Ratio. If at any time at which the Permitted Leverage Ratio is less than 57.5%, Borrower shall have satisfied the Interest Coverage Test (which for purposes of this Section 6.25(c) shall be deemed satisfied only if, on the same Testing Date on which Borrower satisfies the Interest Coverage Test, Borrower is also in compliance with the Leverage Covenant), then the Permitted Leverage Ratio, effective as of the fiscal quarter immediately following the fiscal quarter with respect to which Borrower shall have so satisfied the Interest Coverage Test, shall be increased by adding 2.5% to the Permitted Leverage Ratio that was in effect on the Testing Date. (By way of example, if the Permitted Leverage Ratio was 52.5% in the fiscal quarter in which the Interest Coverage Test was satisfied, the Permitted Leverage Ratio for the next fiscal quarter shall be 55.0%.) The increased Permitted Leverage Ratio shall remain in effect unless and until further increased pursuant to this Section 6.25(c) or decreased pursuant to Section 6.25(b). In no event shall the Permitted Leverage Ratio exceed 57.5%.
Sample 1
Adjustment of Permitted Leverage Ratio. If at any time at which the Permitted Leverage Ratio is less than 60%, the Borrower shall have satisfied the Interest Coverage Test (which for purposes of this Section 7.02(b)(ii) shall be deemed satisfied only if, on the same day on which the Borrower satisfies the Interest Coverage Test, the Borrower is also in compliance with the Leverage Covenant), then the Permitted Leverage Ratio, effective as of the fiscal quarter immediately following the fiscal quarter with respect to which the Borrower shall have so satisfied the Interest Coverage Test, shall be increased (as applicable) as follows: (A) if the Interest Coverage Test is satisfied as of a date on which the Permitted Leverage Ratio is 55% or greater, the Permitted Leverage Ratio for the next fiscal quarter shall be increased to 60%; (B) subject to clauses (A) above and (F) below, if the Interest Coverage Ratio as of the last day of any fiscal quarter is greater than or equal to 2.0 to 1.0 but less than 2.5 to 1.0, the Permitted Leverage Ratio for the next fiscal quarter shall be increased by 2.5%; (C) subject to clauses (A) above and (F) below, if the Interest Coverage Ratio as of the last day of any fiscal quarter is greater than or equal to 2.5 to 1.0 but less than 3.0 to 1.0, the Permitted Leverage Ratio for the next fiscal quarter shall be increased by 5%; (D) subject to clauses (A) above and (F) below, if the Interest Coverage Ratio as of the last day of any fiscal quarter is greater than or equal to 3.0 to 1.0 but less than 4.0 to 1.0, the Permitted Leverage Ratio for the next fiscal quarter shall be increased by 10%; (E) if the Interest Coverage Ratio as of the last day of any fiscal quarter is greater than or equal to 4.0 to 1.0 the Permitted Leverage Ratio for the next fiscal quarter shall be increased to 60%; and (F) in no event shall the Permitted Leverage Ratio exceed 60%.
Sample 1

Related to Adjustment of Permitted Leverage Ratio

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Maximum Leverage Ratio The Borrower will not permit the Leverage Ratio as of the end of any fiscal quarter to be greater than 0.55 to 1.00.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: Period Ratio ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

  • Leverage Ratios Notwithstanding anything to the contrary contained herein, for purposes of calculating any leverage ratio herein in connection with the incurrence of any Indebtedness, (a) there shall be no netting of the cash proceeds proposed to be received in connection with the incurrence of such Indebtedness and (b) to the extent the Indebtedness to be incurred is revolving Indebtedness, such incurred revolving Indebtedness (or if applicable, the portion (and only such portion) of the increased commitments thereunder) shall be treated as fully drawn.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

  • Maximum Total Leverage Ratio The Borrower shall maintain, on the last day of each fiscal quarter set forth below, a Total Leverage Ratio of not more than the maximum ratio set forth below opposite such fiscal quarter: October 31, 2007, January 31, 2008, April 30, 2008, July 31, 2008, October 31, 2008 and January 31, 2009 4.7 to 1 April 30, 2009, July 31, 2009, October 31, 2009 and January 31, 2010 4.2 to 1 April 30, 2010 and each fiscal quarter thereafter 4.0 to 1

  • Leverage Ratio The Borrower will not permit the Leverage Ratio to exceed 4.50 to 1.0 on the last day of any Fiscal Quarter.

  • Total Leverage Ratio The Borrowers will not permit the Total Leverage Ratio on the last day of any fiscal quarter to exceed 3.75 to 1.00.

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