Total Secured Leverage Ratio Clause Samples
The Total Secured Leverage Ratio clause sets a maximum limit on the amount of secured debt a borrower can have relative to a financial metric, typically EBITDA. In practice, this clause requires the borrower to regularly calculate and report the ratio of their total secured debt to EBITDA, ensuring it does not exceed a specified threshold. This helps lenders manage their risk by preventing the borrower from taking on excessive secured debt, thereby protecting the lender’s position and maintaining the borrower’s financial stability.
Total Secured Leverage Ratio. The Company will not permit the Total Secured Leverage Ratio, as of the last day of each fiscal quarter (i) ending during the period from December 31, 2024 through December 31, 2025, to be greater than 2.00 to 1.00 and (ii) ending March 31, 2026 and thereafter, to be greater than 1.50 to 1.00.
Total Secured Leverage Ratio. The Borrower’s Consolidated Total Secured Indebtedness will not exceed forty percent (40%) of Consolidated Total Asset Value.
Total Secured Leverage Ratio. The Total Secured Leverage Ratio, as of the last day of each Fiscal Quarter for each Test Period (commencing with the Test Period ending on September 30, 2025) shall not exceed 9.00:1.00.
Total Secured Leverage Ratio. At any time when there is any outstanding Revolving Exposure (other than outstanding Letters of Credit that have been fully cash collateralized in accordance with Section 2.05(j)), FCX will not, without the approval of the Required Lenders, permit the Total Secured Leverage Ratio on the last day of any fiscal quarter to exceed 3.0 to 1.0.
Total Secured Leverage Ratio. At any time when there is any outstanding Revolving Exposure (other than outstanding Letters of Credit that have been fully cash collateralized in accordance with Section 2.05(j)), the Borrower will not, without the approval of the Required Revolving Lenders, permit the Total Secured Leverage Ratio on the last day of any fiscal quarter to exceed 3.0 to 1.0.
Total Secured Leverage Ratio. The Company and the Restricted Subsidiaries shall not permit the Total Secured Leverage Ratio at any time to exceed 3.50:1.00.
Total Secured Leverage Ratio. The Borrower shall not permit the Total Secured Leverage Ratio as of the last day of any fiscal quarter of the Borrower ending after the Closing Date to be greater than 4.00:1.00 on a Pro Forma Basis; provided, however, the foregoing Total Secured Leverage Ratio requirement shall be tested only in the event that on the last day of any such fiscal quarter the aggregate amounts outstanding under the Revolving Facility (other than the amount of any Letters of Credit which have been cash collateralized) are in excess of $100,000,000 (with measurement to commence, if applicable, with the first full fiscal quarter after the Closing Date).
Total Secured Leverage Ratio. (a) The Borrower will not at any time permit Consolidated Total Secured Indebtedness to exceed the percentage set forth below of Consolidated Total Asset Value for the period set forth below: December 31, 2013 55 % December 31, 2014 50 % June 30, 2015 45 % Thereafter 40 %
(b) Until such time as the REIT shall obtain an Investment Grade Rating, the amount of Secured Recourse Indebtedness (excluding the maximum amount of Indebtedness currently provided to Borrower under the Existing Credit Facilities as of the date of this Agreement) of the REIT and its Subsidiaries incurred after the Closing Date hereof shall not exceed $100,000,000.00; provided that the amount of Indebtedness permitted under the Existing Credit Facilities pursuant to this §9.5(b) shall reduce as each such Existing Credit Facility is prepaid, amortized, reduced or otherwise paid off or terminated after the date hereof.
Total Secured Leverage Ratio. The Borrower will not at any time permit Consolidated Total Secured Indebtedness to exceed the percentage set forth below of Consolidated Total Asset Value for the period set forth below: Period Ending Percentage December 31, 2013 55 % December 31, 2014 50 % June 30, 2015 45 % Thereafter 40 %
Total Secured Leverage Ratio a. Actual: Total Secured Leverage Ratio1 $
b. Required2: At least
c. Compliance: yes/no