Pro Forma Calculations of Current Asset Coverage Ratio Sample Clauses

Pro Forma Calculations of Current Asset Coverage Ratio. Notwithstanding anything to the contrary in this Agreement, for purposes of determining pro forma compliance with the Current Asset Coverage Ratio Covenant (i) at any time during the Initial Collateral Perfection Period, the applicable minimum permitted covenant level for determining such pro forma compliance shall be 1.00 to 1.00, (ii) at any time during the period commencing on the 21st day after the Effective Date and ending on the last day of the Collateral Perfection Period, the applicable minimum permitted covenant level for determining such pro forma compliance shall be 1.20 to 1.00, (iii) at any time thereafter, the applicable minimum permitted covenant level for determining such pro forma compliance shall be 2.10 to 1.00, (iv) the determination of the Current Asset Coverage Ratio shall use the book value of the Priority Perfected Collateral as of the last date of the Fiscal Quarter most recently ended for which financial statements are available, (v) if any Secured Obligor shall have acquired any assets that have become Priority Perfected Collateral pursuant to a Material Acquisition since the last day of the Fiscal Quarter most recently ended for which financial statements have been delivered or shall have acquired any Priority Perfected Collateral pursuant to the transaction that is being tested for pro forma compliance (or assets that will constitute Priority Perfection Collateral substantially contemporaneously with such transaction, subject to the completion of necessary filings or other actions necessary for the perfection of the associated Liens so long as such filings are expected to be made or actions are expected to be taken within five (5) Business Days), the Current Asset Coverage Ratio shall be calculated giving pro forma effect to such acquisition, (vi) if any Secured Obligor shall have sold, transferred or otherwise disposed of assets that previously constituted Priority Perfected Collateral pursuant to a Material Disposition since the last day of the Fiscal Quarter most recently ended for which financial statements are available or shall have sold, transferred or otherwise disposed of assets that previously constituted Priority Perfected Collateral pursuant to the transaction that is being tested for pro forma compliance, the Current Asset Coverage Ratio shall be calculated giving pro forma effect to such sale, transfer or disposition and (vii) Total Measured Secured Indebtedness shall be determined as of the date of the applicable...
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Related to Pro Forma Calculations of Current Asset Coverage Ratio

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 2.00 to 1 at any time.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • 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.

  • 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.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Maximum Consolidated Leverage Ratio As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), the Borrower shall not permit the Consolidated Leverage Ratio to be greater than 0.60 to 1.00.

  • Consolidated Debt Service Coverage Ratio Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25:1.00.

  • Consolidated Net Leverage Ratio Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.

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