Maximum Secured Debt Leverage Ratio. Maintain at all times a Secured Debt Leverage Ratio of not greater than 40%.
Maximum Secured Debt Leverage Ratio. Maintain as of each Test Date occurring during any of the periods indicated below, a Secured Debt Leverage Ratio of not greater than the correlative ratio indicated: Period Secured Debt Leverage Ratio Closing Date through and including December 31, 2015 50% January 1, 2016 and thereafter 45%
Maximum Secured Debt Leverage Ratio. Maintain (A) at the end of each fiscal quarter of the Parent Guarantor and (B) on the date of each Advance and the issuance or renewal of any Letter of Credit (both before and after giving effect to such Advance), a Secured Debt Leverage Ratio not greater than 60.0%.
Maximum Secured Debt Leverage Ratio. Maintain at the end of each fiscal quarter of the Parent Guarantor, a Secured Debt Leverage Ratio not greater than 40.0%, provided that the Parent Guarantor shall have the right to maintain a Secured Debt Leverage Ratio of greater than 40.0% but less than or equal to 45.0% for up to four consecutive quarters of the Parent Guarantor during the term of the Facility following any acquisition of one or more Assets.
Maximum Secured Debt Leverage Ratio. Maintain as of each Test Date occurring during any of the periods indicated below, a Secured Debt Leverage Ratio of not greater than the correlative ratio indicated: Period Secured Debt Leverage Ratio Closing Date through and including September 30, 2013 55% October 1, 2013 through and including September 30, 2014 50% October 1, 2014 and thereafter 45%
Maximum Secured Debt Leverage Ratio. Unencumbered EBITDA -------------------------------------------------------- Ratio. (a) Holdings and the Borrower will not permit the Secured Debt Leverage ----- Ratio at any time during a period set forth below to be greater than the ratio set forth opposite such period below: Period Ratio ------ ----- Effective Date through but not including the last day of Holdings' fiscal quarter ending closest to June 30, 1999 0.57:1.00 The last day of Holdings' fiscal quarter ending closest to June 30, 1999 through but not including the last day of Holdings' fiscal quarter ending closest to September 30, 1999 0.525:1.00 The last day of Holdings' fiscal quarter ending closest to September 30, 1999 through but not including the last day of Holdings' fiscal quarter ending closest to December 31, 1999 0.50:1.00 The last day of Holdings' fiscal quarter ending closest to December 31, 1999 through but not including the last day of Holdings' fiscal quarter ending closest to December 31, 2000 0.45:1.00 The last day of Holdings' fiscal quarter ending closest to December 31, 2000 through but not including the last day of Holdings' fiscal quarter ending closest to December 31, 2001 0.425:1.00 Thereafter 0.40:1.00 provided, that notwithstanding anything to the contrary contained above in this -------- Section 9.12(a), in the event that $2,200,000,000 of Indebtedness, other than the Obligations hereunder, the Senior Notes and the Existing HMH Notes, are secured pursuant to the Pledge and Security Agreement, then the ratio set forth above opposite the period labeled "Thereafter" shall no longer be applicable, and Holdings and the Borrower in lieu thereof will not permit the Secured Debt Leverage Ratio at any time during a period set forth below to be greater than the ratio set forth opposite such period below: Period Ratio ------ ----- The last day of Holdings' fiscal quarter ending closest to September 30, 2001 through but not including the last day of Holdings' fiscal quarter ending closest to September 30, 2002 0.375:1.00 Thereafter 0.35:1.00
