Consolidated Senior Secured Leverage Ratio. Commencing with the Measurement Period ending on the last day of the fiscal quarter in which a Notes Offering occurs, and as of the end of any Measurement Period thereafter, permit the Consolidated Senior Secured Leverage Ratio to be greater than 3.50 to 1.00. For purposes of any calculation for determining compliance with this Section 7.11 on a Pro Forma Basis concurrently with or after a Notes Offering, the ratio in clause (b)(i) shall be used (as increased by clause (b)(ii), if applicable) and the ratio in clause (c) shall be tested.
Appears in 3 contracts
Samples: Revolving Credit Agreement (PBF Energy Inc.), Revolving Credit Agreement (PBF Logistics LP), Revolving Credit Agreement (PBF Logistics LP)
Consolidated Senior Secured Leverage Ratio. Commencing with the Measurement Period ending on the last day of the fiscal quarter in which a Notes Offering occurs, and as of the end of any Measurement Period thereafter, permit the Consolidated Senior Secured Leverage Ratio to be greater than 3.50 to 1.00. For purposes of any calculation for determining pro forma compliance with this Section 7.11 on a Pro Forma Basis concurrently with or after a Notes Offering, the higher ratio in clause (b)(ib) shall be used (as increased by clause (b)(ii), if applicable) and the ratio in clause (c) shall be tested.
Appears in 2 contracts
Samples: Credit Agreement (Western Refining Logistics, LP), Credit Agreement (Western Refining Logistics, LP)
