Cash Interest Coverage Ratio definition
Cash Interest Coverage Ratio. With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor as of such Relevant Test Period, as calculated by the Collateral Manager (on behalf of the Borrower) in good faith.
Cash Interest Coverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated EBITDA of Holdings and the Restricted Subsidiaries for such Test Period to (b) Consolidated Cash Interest Charges for such Test Period.
Cash Interest Coverage Ratio means, with respect to any Loan Asset (other than a Recurring Revenue Loan) for any period, the meaning of “Interest Coverage Ratio” or any comparable definition in the Underlying Instruments for such Loan Asset, and in the case that “Interest Coverage Ratio” or such comparable definition is not defined in such Underlying Instruments, the ratio of (a) EBITDA for the applicable test period, to (b) cash interest for the applicable test period, as calculated by the Servicer in accordance with the Servicing Standard using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor as per the requirements of the related Underlying Instruments.
Examples of Cash Interest Coverage Ratio in a sentence
Except with the consent of the Re- quired Pro Rata Facilities Lenders, permit the Consolidated Cash Interest Coverage Ratio as of the last day of any fiscal quarter of the Company ending after the Initial Funding Date (com- mencing with the first full fiscal quarter ending after the Initial Funding Date) to be less than 3.00:1.00 (this Section 7.11(a), the “Interest Coverage Covenant”).
More Definitions of Cash Interest Coverage Ratio
Cash Interest Coverage Ratio means, with respect to any Collateral Asset for any Relevant Test Period, the meaning of “Cash Interest Coverage Ratio” or comparable term set forth in the Related Documents for such Collateral Asset.
Cash Interest Coverage Ratio. “Permitted Liens” “Minimum Liquidity” or “Total Net Leverage Ratio” or, in each case, any respective comparable terms for such Collateral Asset, in each case of clauses (x) and (y) above, in a manner that, in the commercially reasonable discretion of the Administrative Agent, is materially adverse to the Secured Parties; or
Cash Interest Coverage Ratio or comparable definition set forth in the Underlying Instruments for such Portfolio Asset, or (b) in the case of any Portfolio Asset with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in accordance with and subject to the standard of care in performing its duties under this Agreement and the Credit and Collection Policy, and in good faith, provided that, in either case, for any Loan subject to a Recurring Revenue Reclassification Date, any references to the Cash Interest Coverage Ratio as of the date on which such Loan was acquired by the Borrower shall be deemed to mean such ratios determined by the Administrative Agent in its sole discretion as of the Recurring Revenue Reclassification Date. “Cash Interest Expense”: With respect to any Obligor for any period, the amount which, in conformity with GAAP, would be set forth opposite the caption “interest expense” or any like caption reflected on the most recent financial statements delivered by such Obligor to the Borrower for such period. “Certificated Security”: The meaning specified in Section 8-102(a)(4) of the UCC. “Change of Control”: Any of the following: (a) the creation, imposition or, to the knowledge of the Borrower or the Collateral Manager, threatened imposition of any Lien on any limited liability company membership interest in the Borrower; (b) the Borrower LLC Agreement shall fail to be in full force and effect; (c) the failure of the Equityholder to directly own in the aggregate 100% of the limited liability company membership interests in the Borrower; or (d) the dissolution, termination, liquidation, transfer or other disposition of all or substantially all of the assets of the Collateral Manager or the Equityholder. “Clean-Up Call Event” shall occur if, at any time during the Harvest Period, either: (a) with respect to the Portfolio Assets in the Portfolio, the number of unique Obligors (including their
Cash Interest Coverage Ratio or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor as of such Relevant Test Period, as calculated by the Collateral Manager (on behalf of the Borrower) in good faith.
Cash Interest Coverage Ratio as of the last day of any Reference Period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.
Cash Interest Coverage Ratio means, with respect to any Collateral Loan for any Relevant Test Period, the meaning of “Cash Interest Coverage Ratio,” “Pro Forma Cash Interest Coverage Ratio” or any comparable term in the Related Documents for such Collateral Loan, and in any case that “Cash Interest Coverage Ratio,” “Pro Forma Cash Interest Coverage Ratio” or such comparable term is not defined in such Related Documents, the ratio, for such Collateral Loan, of (a) EBITDA for the Relevant Test Period, to (b) interest for the Relevant Test Period, in each case, as calculated by the Servicer in accordance with the Servicing Standard.
Cash Interest Coverage Ratio. Total Leverage Ratio," "EBITDA," "Permitted Liens" or any respective comparable definitions in the Underlying Instruments for such Eligible Loan Asset (to the extent such financial covenants or definitions are included in the Underlying Instruments), (ii) any term or provision of such Underlying Instruments referenced in or utilized in the calculation of the "Senior Leverage Ratio," "Cash Interest Coverage Ratio," "Total Leverage Ratio," "EBITDA," "Permitted Liens" or any respective comparable definitions for such Eligible Loan Asset, or (iii) any term or provision referenced in or utilized in the calculation of any financial covenant or modifies any of the required maintenance levels of any financial covenant in the Underlying Instrument for such Eligible Loan Asset (excluding any capital expenditures covenant), in the case of either clause (i), (ii) or (iii) above, in a manner that, in the sole discretion of the Administrative Agent, is materially adverse to the Administrative Agent, any Lender or the value of such Eligible Loan Asset.