Funded Leverage Ratio. The Parent shall not permit the Funded Leverage Ratio, at the end of each fiscal quarter of the Parent, to be greater than 50%.
Funded Leverage Ratio. A Funded Leverage Ratio as of the last day of each fiscal quarter of not more than the ratio set forth below for the Measurement Period then ended: Quarter Ending Ratio -------------- ----- September 30, 2002 3.25 to 1.0 December 31, 2002 3.00 to 1.0 March 31, 2003 3.00 to 1.0 June 30, 2003 2.75 to 1.0 September 30, 2003 2.75 to 1.0 December 31, 2003 2.50 to 1.0 March 31, 2004 2.50 to 1.0 June 30, 2004 and thereafter 2.25 to 1.0
Funded Leverage Ratio. For the fiscal quarter ending July 31, 2001 and for each fiscal quarter ending thereafter, a Funded Leverage Ratio for the immediately preceding four (4) quarter period then ended shall not be more than the ratio set forth below for such date: ---------------------------------------------------------------------- QUARTERS ENDING RATIO ---------------------------------------------------------------------- July 31, 2001 5.89 to 1.0 ---------------------------------------------------------------------- October 31, 2001 5.08 to 1.0 ---------------------------------------------------------------------- January 31, 2002 4.60 to 1.0 ---------------------------------------------------------------------- April 30, 2002 4.31 to 1.0 ---------------------------------------------------------------------- July 31, 2002 through April 30, 2003 4.03 to 1.0 ---------------------------------------------------------------------- July 31, 2003 through April 30, 2004 3.75 to 1.0 ---------------------------------------------------------------------- July 31, 2004 and thereafter 3.25 to 1.0 ----------------------------------------------------------------------
Funded Leverage Ratio. For the fiscal quarter ending October 31, 2002 and for each fiscal quarter ending thereafter, a Funded Leverage Ratio for the immediately preceding four (4) quarter period then ended shall not be more than the ratio set forth below for such date: -------------------------------------------------------------------------------- QUARTERS ENDING RATIO -------------------------------------------------------------------------------- October 31, 2002 through April 30, 2003 3.00 to 1.0 -------------------------------------------------------------------------------- July 31, 2003 and thereafter 2.40 to 1.0 --------------------------------------------------------------------------------
Funded Leverage Ratio. The Borrower shall not permit the Funded Leverage Ratio, at the end of each fiscal quarter of the Borrower, to be greater than 35%.
Funded Leverage Ratio. (a) Funded Debt of the Parent and its Subsidiaries as of the end of the immediately preceding fiscal quarter = $
(b) aggregate amount of any Funded Debt incurred as the direct result of Forward Sale Contracts relating to securities held in the Investment Portfolio fully secured by Marketable Securities = $
(c) (a) minus (b) = $
(d) the sum of (i) the Funded Debt specified in (a) and (ii) consolidated Net Worth of the Parent as of the last day of the immediately preceding fiscal quarter = $ Leverage Ratio = (c) divided by (d), expressed as a percentage = Maximum Funded Leverage Ratio 50%
