Secured Leverage Ratio Clause Samples
The Secured Leverage Ratio clause defines the maximum allowable ratio of a borrower's secured debt to a financial metric such as EBITDA or total capitalization. In practice, this clause requires the borrower to maintain its secured borrowings below a specified threshold relative to its earnings or assets, often measured and tested at regular intervals. By imposing this limit, the clause helps lenders manage credit risk and ensures the borrower does not become over-leveraged with secured debt, thereby protecting the lender’s position and maintaining the financial stability of the borrower.
Secured Leverage Ratio. Permit the Secured Leverage Ratio, as of the last day of any fiscal quarter of the Consolidated Group, to be greater than thirty-five percent (35%), or, for a period of four consecutive fiscal quarters following a Material Acquisition, forty percent (40%).
Secured Leverage Ratio. Borrower shall not permit the Secured Leverage Ratio as of the last day of (i) the Fiscal Quarter ending December 31, 2011, to exceed 1.75 to 1.0 and (ii) any subsequent Fiscal Quarter, beginning with Fiscal Quarter ending March 31, 2012, to exceed 2.50 to 1.0.
Secured Leverage Ratio. The ratio of the aggregate amount of all Secured Indebtedness to Total Asset Value to exceed 45%.
Secured Leverage Ratio. As at the end of each fiscal quarter of the Borrower, the Secured Leverage Ratio to exceed 50%; provided that the Secured Leverage Ratio may exceed 50% as of the end of up to four (4) fiscal quarters of the Borrower during the term of this Agreement (whether or not consecutive) so long as such ratio does not exceed 55%.
Secured Leverage Ratio. The Borrower will not at any time permit the ratio of Consolidated Total Secured Debt to Gross Asset Value (expressed as a percentage) to exceed thirty percent (30.0%); provided that such maximum ratio may exceed 30% during, or as of the end of, any fiscal quarter in which a Material Acquisition is consummated and the consecutive three (3) fiscal quarters immediately thereafter, but in no event shall such ratio exceed 40% at any time; provided further that the Borrower may not rely on the first proviso hereto in order to be in compliance with this Section 6.2 on more than two separate occasions (each time for up to four (4) consecutive fiscal quarters);
Secured Leverage Ratio. The Secured Leverage Ratio to exceed fifty percent (50%).
Secured Leverage Ratio. Have a Secured Leverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending December 31, 2020, in excess of the correlative ratio indicated: December 31, 2020 5.75:1.00 March 31, 2021 5.75:1.00 June 30, 2021 5.75:1.00 September 30, 2021 5.50:1.00 December 31, 2021 5.50:1.00 March 31, 2022 5.25:1.00 June 30, 2022 5.25:1.00 September 30, 2022 5.25:1.00 December 31, 2022 5.00:1.00 March 31, 2023 5.00:1.00 June 30, 2023 and each Fiscal Quarter thereafter 4.75:1.00
Secured Leverage Ratio. The Parent will not permit the Secured Leverage Ratio as of the end of any fiscal quarter set forth below to exceed the ratio set forth below with respect to such fiscal quarter: Fiscal Quarter End Secured Leverage Date Ratio September 30, 2009 12.00:1.00 December 31, 2009 8.50:1.00 March 31, 2010 8.50:1.00 June 30, 2010 4.00:1.00 September 30, 2010 3.75:1.00 December 31, 2010 3.50:1.00 March 31, 2011 3.50:1.00 June 30, 2011 (and thereafter) 3.25:1.00
Secured Leverage Ratio. Commencing March 31, 2020, and for each fiscal quarter ending thereafter, but on or prior to December 31, 2021, the Borrower will not permit, as of the last day of any such fiscal quarter, the ratio (the “Secured Leverage Ratio”) of (i) the consolidated Total Secured Debt of the Borrower and the other Credit Parties as of such time to (ii) the Adjusted EBITDAX of the Borrower and the other Credit Parties, to be greater than 3.00 to 1.00.
Secured Leverage Ratio. Secured Consolidated Total Indebtedness not to exceed 55% of Consolidated Total Adjusted Asset Value. Total Secured Leverage Ratio (H / I) Test 55%