Adjusted Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Adjusted Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.
Adjusted Consolidated Leverage Ratio has the meaning specified in Section 7.11(a).
Adjusted Consolidated Leverage Ratio means, as of the end of any fiscal quarter of the Borrower for the four fiscal quarter period ending on such date with respect to the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) (i) Funded Debt of the Borrower and its Subsidiaries on a consolidated basis on the last day of such period minus (ii) the amount of cash and Cash Equivalents held by the Borrower and its Subsidiaries on the last day of such period to (b) Consolidated EBITDA for such period.
Examples of Adjusted Consolidated Leverage Ratio in a sentence
Permit the Adjusted Consolidated Leverage Ratio as of the end of any fiscal quarter of the Company to be greater than 3.00:1.00.
Permit the Adjusted Consolidated Leverage Ratio as of the end of any fiscal quarter of the Company to be greater than 3.25:1.00.
In the event the Borrower shall complete, directly or through a Subsidiary, an acquisition or divestiture of any Person or business unit during any period, the Adjusted Consolidated Leverage Ratio as of the end of and for such period shall thereafter be determined on a pro forma basis as if such acquisition or divestiture had been completed on the first day of such period.
Permit the Lease Adjusted Consolidated Leverage Ratio as of the end of any fiscal quarter of Holdings to be greater than 5.00 to 1.00.
Permit the Lease Adjusted Consolidated Leverage Ratio as of the end of any fiscal quarter of Holdings to be greater than (i) for any fiscal quarter ending on or prior to December 31, 2015, 5.25 to 1.00, (ii) for any fiscal quarter ending after December 31, 2015, 5.00 to 1.00.
More Definitions of Adjusted Consolidated Leverage Ratio
Adjusted Consolidated Leverage Ratio means, at any time, the ratio of Adjusted Consolidated Debt at such time to Consolidated EBITDA for the Test Period ended on the date of determination or, if the date of determination is not the last day of a Test Period, for the then most recently ended Test Period.
Adjusted Consolidated Leverage Ratio means, with respect to any period, the Consolidated Leverage Ratio; provided that (i) pro forma effect is given to any Asset Sales (including the application of the proceeds of any Asset Sales) that occur during the period, as if they had occurred and the proceeds had been applied on the first day of the period, and (ii) pro forma effect is given to any Asset Sales (including the application of the proceeds of any Asset Sales) that have been made by any Person that has become a Restricted Subsidiary or has merged with or into the Company or any of its Restricted Subsidiaries during the period and would have constituted Asset Sales had the transactions occurred when that Person was a Restricted Subsidiary as if they were Asset Sales that occurred on the first day of the period.
Adjusted Consolidated Leverage Ratio as defined in subsection 7.1(b)(i).
Adjusted Consolidated Leverage Ratio as of any date of determination means the Consolidated Leverage Ratio, calculated on a pro forma basis after giving effect to the designation of the Specified Subsidiary Group as Unrestricted Subsidiaries (including for purposes of calculating Consolidated Indebtedness and EBITDA) and to any sales of Capital Stock, refinancings of Indebtedness or other transactions consummated concurrently with such designation.
Adjusted Consolidated Leverage Ratio as of any date of determination means the ratio of (i) the aggregate amount of all Unsecured Senior Indebtedness of the Company and its Restricted Subsidiaries to (ii) the sum of: (A) Consolidated Adjusted Net Income accrued during the period (treated as one accounting period) from September 1, 1997 to the end of the most recent fiscal quarter prior to such date of determination for which financial statements are available (or, in case such Consolidated Adjusted Net Income shall be a deficit, minus 100% of such deficit); and (B) the aggregate Net Cash Proceeds received by the Company from the issuance or sale after September 1, 1997 of (1) Capital Stock of the Company (other than Disqualified Stock) or (2) debt securities of the Company, but only if, when and to the extent such debt securities have been converted into any such Capital Stock (other than, in each case, an issuance or sale to a Subsidiary of the Company and other than an issuance or sale to an employee stock ownership plan or to a trust established by the Company or any of its Subsidiaries for the benefit of their employees).
Adjusted Consolidated Leverage Ratio means the ratio of (a) ------------------------------------ Consolidated Funded Indebtedness (excluding up to $25,000,000 of Indebtedness the proceeds of which were used to acquire, construct or improve (i) Hotel Properties owned for less than four full fiscal quarters and (ii) Hotel Properties with certificates of occupancy that (A) are open for business and (B) were Construction Properties at some time during the preceding four fiscal quarters) to (b)
Adjusted Consolidated Leverage Ratio means, with respect to any Person at any date of determination, the Consolidated Leverage Ratio of such Person, provided that clause (x) of the definition of Consolidated Leverage Ratio shall be reduced by the aggregate amount of cash, Cash Equivalents, U.S. Government Obligations and Triple A Rated Securities held by such Person and its Restricted Subsidiaries as of such date prior to giving effect to any Indebtedness incurred or to be incurred or any Preferred Stock issued or to be issued, as the case may be, on such date.