Guarantee Ratios Sample Clauses

Guarantee Ratios. (a) At each fiscal quarter end, the ratio of (i) the Rig Value of the Rigs (other than Specified Acquired Rigs) directly wholly owned by the Loan Parties to (ii) the aggregate Rig Value of all Rigs (other than Specified Acquired Rigs) of the Parent, its Subsidiaries, and Local Content Entities shall not be less than 80%. (b) At each fiscal quarter end, the ratio of (i) the sum of (A) the Rig Values of the Marketed Rigs directly wholly owned by Specified Foreign Loan Parties, plus (B) the Rig Value of the Ocean Valiant Rig at any time when it is a Marketed Rig owned by any Guarantor to (ii) the sum of, without duplication, (A) the aggregate Commitments, (B) the Non-Extended Facility Aggregate Credit Exposure, and (C) any other Indebtedness of any Specified Foreign Loan Party (other than (x) unsecured intercompany debt between Loan Parties and (y) other unsecured intercompany debt that is contractually subordinated to the Indebtedness arising pursuant to the Loan Documents on terms reasonably satisfactory to the Administrative Agent), that is secured by a Lien or that is guaranteed by (or has as an obligor) a Subsidiary that directly owns a Rig (or the Parent, if the Parent directly owns any Rig) shall not be less than 3.0 to 1.0.
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Guarantee Ratios. (i) Permit, at each fiscal quarter end, the ratio of (A) the Rig Value of the Marketed Rigs directly wholly owned by the Loan Parties to (B) the sum of (1) the aggregate Commitments and (2) any other Debt of any Loan Party that directly owns a Marketed Rig that is not contractually subordinated to the Obligations, to be less than 3.00 to 1.00. (ii) Permit, at each fiscal quarter end, the ratio of (A) the Rig Value of the Closing Date Rigs directly wholly owned by the Loan Parties to (B) the aggregate Rig Value of all Closing Date Rigs of the Parent, its Subsidiaries, and the Local Content Entities, to be less than 85%.
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Related to Guarantee Ratios

  • 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.

  • Senior Secured Leverage Ratio The Borrowers shall not at any time permit the Senior Secured Leverage Ratio, calculated as of the end of each fiscal quarter, to exceed the maximum ratio set forth below for such fiscal quarter;

  • Consolidated Senior Secured Leverage Ratio Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.

  • Fixed Charge Coverage Ratio The Borrower will not permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter to be less than 2.00 to 1.0.

  • 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.