Maximum Debt Covenant Sample Clauses

A Maximum Debt Covenant is a contractual provision that sets a limit on the total amount of debt a borrower can incur during the term of an agreement. This clause typically requires the borrower to maintain their outstanding debt below a specified threshold, which may be measured as a fixed dollar amount or as a ratio relative to financial metrics like EBITDA or equity. By imposing this restriction, the clause helps protect lenders or investors by reducing the risk that the borrower becomes over-leveraged and unable to meet its financial obligations.
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Maximum Debt Covenant. From the Closing Date through the date on which all principal and interest on all Loans are indefeasibly paid in full, maintain on the last day of each calendar month Debt that is greater than $220,000,000 (the “Maximum Debt Covenant”).
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Maximum Debt Covenant. Breach the Maximum Debt Covenant as defined in Borrower’s Confidential Private Offering Memoranda, dated February 1, 2013.
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Maximum Debt Covenant. Section 2.2 of the Promissory Note Covenant Exhibit shall be amended and restated as follows:
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Maximum Debt Covenant. Permit, as of the last day of any fiscal quarter, beginning with the quarter ending March 31, 2013, the ratio of (i) Total Debt (including all loans and other credit extensions outstanding under the Senior Credit Agreement, but excluding any debt to Shareholder Guarantors) to (ii) Trailing Twelve-Month Revenue for the four consecutive fiscal quarter period ending on such date (the “Maximum Debt Covenant”) to be greater than the following with respect to the fiscal quarter set forth opposite each such ratio below (including such periods which may exist if the Maturity Date is extended pursuant to the terms of the definition thereof): Quarter Ratio March 31, 2013 through and including December 31, 2013 1.75:1.00 March 31, 2014 through and including December 31, 2014 1.50:1.00 March 31, 2015 through and including June 30, 2016 1.25:1.00 September 30, 2016 and thereafter 1.00:1.00
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Related to Maximum Debt Covenant

  • Debt Coverage Ratio At the end of any Fiscal Quarter, the Debt Coverage Ratio will not be greater than the amount set forth below for the applicable time set forth below: (i) During an Acquisition Period: 5.25 to 1.0 (ii) Other than an Acquisition Period: 4.75 to 1.0

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Maximum Leverage Ratio The Borrower will not permit the Leverage Ratio as of the end of any fiscal quarter to be greater than 0.55 to 1.00.

  • Debt Cross-Default The Borrower or any of its Restricted Subsidiaries shall (i) default in the payment of any Debt (other than the Notes or any Reimbursement Obligation) the aggregate outstanding amount of which Debt is in excess of $5,000,000 beyond the period of grace if any, provided in the instrument or agreement under which such Debt was created, or (ii) default in the observance or performance of any other agreement or condition relating to any Debt (other than the Notes or any Reimbursement Obligation) the aggregate outstanding amount of which Debt is in excess of $5,000,000 or contained in any instrument or agreement evidencing, securing or relating thereto or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Debt (or a trustee or agent on behalf of such holder or holders) to cause, with the giving of notice if required, any such Debt to become due prior to its stated maturity (any applicable grace period having expired).

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);