We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Consolidated Total Net Leverage Ratio Clause in Contracts

Consolidated Total Net Leverage Ratio. Permit the Consolidated Total Net Leverage Ratio as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2020, to be greater than 3.50 to 1.00; provided, that, upon the occurrence of a Qualified Acquisition, for the four (4) Fiscal Quarters next ending, commencing with the Fiscal Quarter during which such Qualified Acquisition closes (each such period, a “Leverage Increase Period”), the required Consolidated Total Net Leverage Ratio set forth above may, upon receipt by the Administrative Agent of a Qualified Acquisition Notice, be increased to 4.00:1.00; provided, further, that (i) the maximum Consolidated Total Net Leverage Ratio permitted pursuant to this Section 6.1 shall revert to 3.50:1.00 following the end of each Leverage Increase Period, (ii) for at least one (1) full Fiscal Quarter ending immediately following the end of each Leverage Increase Period, the Consolidated Total Net Leverage Ratio as of the end of each such Fiscal Quarter shall not be permitted to be greater than 3:50:1.00 prior to giving effect to another Leverage Increase Period and (iii) the Leverage Increase Period shall apply only for purposes of determining compliance with this Section 6.1, for purposes of any Qualified Acquisition Pro Forma Determination and for purposes of determining compliance on a Pro Forma Basis in connection with the incurrence of Indebtedness under Section 7.1.

Appears in 2 contracts

Samples: Credit Agreement (Biotelemetry, Inc.), Credit Agreement (Biotelemetry, Inc.)

Consolidated Total Net Leverage Ratio. Permit the Consolidated Total Net Leverage Ratio as of the end of each Fiscal Quarterany fiscal quarter of the Borrower, commencing with the Fiscal Quarter fiscal quarter ending March 31September 30, 20202018, to be greater than 3.50 4.50:1.00; provided that if the consideration (including the principal amount of any Acquired Indebtedness but excluding any contingent deferred purchase price obligations) for any Permitted Acquisition consummated after the Closing Date exceeds $200,000,000 and the Borrower delivers written notice to 1.00; provided, that, upon the occurrence Administrative Agent prior to the end of a Qualified Acquisition, for the four (4) Fiscal Quarters next ending, commencing with the Fiscal Quarter during fiscal quarter in which such Qualified Permitted Acquisition closes (each such period, a “occurs electing to implement the Leverage Increase Period”), the required Consolidated Total Net Leverage Ratio set forth above may, upon receipt by the Administrative Agent of a Qualified Acquisition Notice, be increased to 4.00:1.00; provided, further, that (i) then the maximum Consolidated Total Net Leverage Ratio permitted pursuant to by this Section 6.1 shall revert to 3.50:1.00 8.11(a) for the fiscal quarter in which such Permitted Acquisition occurs and each of the following three fiscal quarters of the end of Borrower (each a “Leverage Increase Period, (ii) for at least one (1) full Fiscal Quarter ending immediately following shall be automatically increased to 4.75:1.0. Following the end expiration of each a Leverage Increase Period, the maximum Consolidated Total Net Leverage Ratio as of the end of each such Fiscal Quarter shall be automatically decreased to 4.50:1.0 and cannot be permitted to be greater subsequently increased again except as provided in the foregoing proviso; provided, further that the Borrower may elect no more than 3:50:1.00 prior to giving effect to another two (2) Leverage Increase Period and (iii) Periods during the Leverage Increase Period shall apply only for purposes term of determining compliance with this Section 6.1, for purposes of any Qualified Acquisition Pro Forma Determination and for purposes of determining compliance on a Pro Forma Basis in connection with the incurrence of Indebtedness under Section 7.1Agreement.

Appears in 1 contract

Samples: Credit Agreement (Caci International Inc /De/)

Consolidated Total Net Leverage Ratio. Permit the Consolidated Total Net Leverage Ratio as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending March 31, 2020, any fiscal quarter of HoldCo to be greater than 3.50 5.00 to 1.00; provided, that, upon the occurrence provided that for each of a Qualified Acquisition, for the four (4) Fiscal Quarters next endingfiscal quarters immediately following a Qualified Acquisition, commencing with the Fiscal Quarter during fiscal quarter in which such Qualified Acquisition closes was consummated (each such periodperiod of increase, a the “Leverage Increase Period”), the required Consolidated Total Net Leverage Ratio ratio set forth above may, upon receipt by the Administrative Agent of a Qualified Acquisition Notice, shall be increased to 4.00:1.00by 0.25; provided, further, that (i) there shall be no more than three (3) Leverage Increase Periods during the term of this Agreement, (ii) there shall be no more than one (1) Leverage Increase Period in effect at any time with respect to this Section 7.11(a), (iii) the maximum Consolidated Total Net Leverage Ratio permitted pursuant to this Section 6.1 shall revert to 3.50:1.00 following the end of each Leverage Increase Period, then-permitted ratio (iiwithout giving effect to such increase) for at least one (1) full Fiscal Quarter ending immediately following the end of each fiscal quarter before a new Leverage Increase PeriodPeriod may be invoked, and (iv) the Leverage Increase Period shall only apply (A) with respect to the calculation of the Consolidated Total Net Leverage Ratio as of the end of each such Fiscal Quarter shall not be permitted to be greater than 3:50:1.00 prior to giving effect to another Leverage Increase Period and (iii) the Leverage Increase Period shall apply only for purposes of determining compliance with this Section 6.1, for purposes 7.11(a) as of the end of any Qualified Acquisition Pro Forma Determination and fiscal quarter of HoldCo during such period, (B) for purposes of determining compliance with this Section 7.11(a) on Pro Forma Basis to determine if an Acquisition is a Permitted Acquisition and (C) for purpose of determining compliance with this Section 7.11(a) on a Pro Forma Basis in connection with the incurrence of Indebtedness under Section 7.1to determine if an Incremental Facility Loan is permitted to be incurred.

Appears in 1 contract

Samples: Credit Agreement (I3 Verticals, Inc.)