Common use of Capitalization Leverage Ratio Clause in Contracts

Capitalization Leverage Ratio. At no time shall the ratio of (i) Consolidated Debt at such time to (ii) Total Capital at such time, exceed 0.695; provided that upon any sale of the capital stock of PCS, such maximum ratio shall be reset at the level which produces the result that the amount of additional Debt that the Borrower may incur within the limits of this ratio immediately after giving effect to such sale and the repayment of any Debt required in connection therewith is equal to the amount of additional Debt that the Borrower could incur within the limits of this ratio immediately before giving effect to such sale and the repayment of any Debt required in connection therewith.

Capitalization Leverage Ratio. At no time shall the ratio of (i) Consolidated Debt at such time to (ii) Total Capital at such time, exceed 0.695; provided that upon any sale of the capital stock of PCS, such maximum ratio shall be reset at the level which produces the result that the amount of additional Debt that the Borrower Guarantor may incur within the limits of this ratio immediately after giving effect to such sale and the repayment of any Debt required in connection therewith is equal to the amount of additional Debt that the Borrower Guarantor could incur within the limits of this ratio immediately before giving effect to such sale and the repayment of any Debt required in connection therewith."