Maximum Senior Net Leverage Ratio Sample Clauses
The Maximum Senior Net Leverage Ratio clause sets a limit on the amount of senior debt a borrower can have relative to its earnings, typically measured as a ratio of senior debt to EBITDA. In practice, this clause requires the borrower to maintain its senior net leverage below a specified threshold, which is tested periodically, such as quarterly or annually. This ensures that the borrower does not take on excessive senior debt, thereby protecting lenders by reducing the risk of default and maintaining the financial stability of the borrower.
Maximum Senior Net Leverage Ratio. After giving pro forma effect to the Loans made hereunder on the Closing Date and the Advances made by Revolving Loan Lenders on the Closing Date, the Senior Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, for the four (4) consecutive fiscal quarters ending on or about September 30, 2016 shall be less than or equal to 1.70 to 1.00;
Maximum Senior Net Leverage Ratio. Loan Parties shall maintain a Senior Net Leverage Ratio of not greater than the applicable ratio set forth in the table immediately below, and corresponding to the applicable time period, which shall be tested as of the last day of each fiscal quarter (the “Testing Date”) of Loan Parties: Period ending on Testing Date April 30, 2022 3.50:1.00 Period ending on Testing Date July 30, 2022 3.90:1.00 Period ending on Testing Date October 29, 2022 4.10:1.00 Period ending on Testing Date January 28, 2023 3.25:1.00 Period ending on Testing Date April 29, 2023 2.80:1.00 Period ending on Testing Date July 30, 2023 2.65:1.00 Period ending on Testing Date October 29, 2023 and thereafter 2.50:1.00
Maximum Senior Net Leverage Ratio. Loan Parties shall maintain a Senior Net Leverage Ratio of not greater than the applicable ratio set forth in the table immediately below, and corresponding to the applicable time period, which shall be tested as of the last day of each fiscal quarter (the “Testing Date”) of Loan Parties:
Maximum Senior Net Leverage Ratio. Holdings shall not permit, as of the last day of any Fiscal Quarter, the Senior Net Leverage Ratio to exceed the applicable maximum Senior Net Leverage Ratio set forth below for such Test Period:
Maximum Senior Net Leverage Ratio. Loan Parties shall maintain a Senior Net Leverage Ratio of not greater than the applicable ratio set forth in the table immediately below, and corresponding to the applicable time period, which shall be tested as of the last day of each fiscal quarter of Loan Parties and be measured on a trailing-twelve-month basis: Fiscal quarter ending October 31, 2021 3.50:1.00 Fiscal quarter ending January 31, 2022 3.50:1.00 Fiscal quarter ending April 30, 2022 3.25:1.00 Fiscal quarter ending July 31, 2022 3.00:1.00 Fiscal quarter ending October 31, 2022 2.75:1.00 Fiscal quarter ending January 31, 2023 2.75:1.00 Fiscal quarter ending April 30, 2023 and thereafter 2.50:1.00
Maximum Senior Net Leverage Ratio. 4 Not to exceed the applicable maximum ratio set forth in Section 9.2 for such Test Period (Defined as Total Senior Debt as of test date divided by EBITDA for the most recently completed Test Period). Yes No __________________ ÷ __________________ = _____________: 1.00 Total Senior Debt as of test date EBITDA for the most recently completed Test Period Senior Net Leverage Ratio _____________________________ 3 *Only to be tested for quarterly delivery of a Compliance Certificate. 4 **Only to be tested for quarterly delivery of a Compliance Certificate.
Maximum Senior Net Leverage Ratio. Borrowers shall maintain a Senior Net Leverage Ratio of 2.50:1:00, which shall be tested as of the last day of each fiscal quarter of Borrowers and be measured on a trailing-twelve-month basis.
Maximum Senior Net Leverage Ratio. Borrower and its Subsidiaries on a consolidated basis shall have, as of the last day of each Fiscal Quarter, commencing with Fiscal Quarter ending on March 31, 2025, a Senior Net Leverage Ratio as of the last day of such Fiscal Quarter for the twelve (12) month period then ended, of not more than the following: