Total Indebtedness to Total Capitalization Ratio. From and after the Availability Effective Date, the Guarantor will not permit the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Total Capitalization to exceed 0.35 to 1.00, calculated as of the last day of each fiscal quarter. With respect to all testing periods prior to the end of the first fiscal quarter after the IPO Effective Date, Adjusted Consolidated Net Worth, Consolidated Total Indebtedness and Consolidated Total Capitalization shall be calculated as of the last day of the most recently ended fiscal quarter for which financial statements are available, giving pro forma effect to the Transactions.
Appears in 8 contracts
Samples: Reimbursement Agreement (AXA Equitable Holdings, Inc.), Reimbursement Agreement (AXA Equitable Holdings, Inc.), Reimbursement Agreement (AXA Equitable Holdings, Inc.)
Total Indebtedness to Total Capitalization Ratio. From and after the Availability Effective Date, the Guarantor Company will not permit the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Total Capitalization to exceed 0.35 to 1.00, calculated as of the last day of each fiscal quarter. With respect to all testing periods prior to the end of the first fiscal quarter after the IPO Effective Date, Adjusted Consolidated Net Worth, Consolidated Total Indebtedness and Consolidated Total Capitalization shall be calculated as of the last day of the most recently ended fiscal quarter for which financial statements are available, giving pro forma effect to the Transactions.
Appears in 2 contracts
Samples: Assignment and Assumption (AXA Equitable Holdings, Inc.), Assignment and Assumption (AXA Equitable Holdings, Inc.)
Total Indebtedness to Total Capitalization Ratio. From and after the Availability Effective Covenant Trigger Date, the Guarantor Company will not at any time permit the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Total Capitalization to exceed 0.35 to 1.00, calculated as of the last day of each fiscal quarter. With respect to all testing periods prior to the end of the first fiscal quarter after the IPO Spin-Off Effective Date, Adjusted Consolidated Net Worth, Consolidated Total Indebtedness and Consolidated Total Capitalization shall be calculated as of the last day of the most recently ended fiscal quarter for which financial statements are available, giving pro forma effect to the TransactionsRestructuring Transaction and the payment of the dividend and the incurrence of Debt contemplated in connection with the Spin-Off Transaction.
Appears in 1 contract
Samples: Assignment and Assumption (Brighthouse Financial, Inc.)
Total Indebtedness to Total Capitalization Ratio. From and after the Availability Effective Date, the Guarantor Company will not permit the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Total Capitalization to exceed 0.35 to 1.00, calculated as of the last day of each fiscal quarter. With respect to all testing periods prior to the end of the first fiscal quarter after the IPO Effective Date, Adjusted Consolidated Net Worth, Consolidated Total Indebtedness and Consolidated Total Capitalization shall be calculated as of the last day of the most recently ended fiscal quarter for which financial statements are available, giving pro forma effect to the Transactions.
Appears in 1 contract
Samples: Assignment and Assumption (AXA Equitable Holdings, Inc.)
