Consolidated Net Total Leverage Ratio definition

Consolidated Net Total Leverage Ratio as of any date of determination, the ratio of (a) Consolidated Net Total Leverage on such date to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for the most recently ended Test Period.

Consolidated Net Total Leverage Ratio means the quotient of (a) the total consolidated amount of Indebtedness of the Company and its consolidated Subsidiaries under clauses (a), (c), (d) and (e) of such definition, minus the unrestricted cash and cash equivalents of the Company and its consolidated Subsidiaries, divided by (b) the Company’s consolidated Adjusted EBITDA for the last four (4) fiscal quarters for which internal financial statements are available.

Consolidated Net Total Leverage Ratio means, as of any date of determination, the ratio of (1) Consolidated Total Indebtedness as of such date, less the aggregate amount of cash and Cash Equivalents as of such date to (2) Consolidated EBITDA for the most recently ended four full fiscal quarters for which financial statements are available; provided that for purposes of determining the Consolidated Net Total Leverage Ratio, the aggregate amount of cash and Cash Equivalents as of such date of determination shall exclude any proceeds of Indebtedness Incurred on such date or the Incurrence of which is being tested on such date.

Examples of Consolidated Net Total Leverage Ratio in a sentence

• For any fiscal quarter ending on or after the IPO Closing Date, permit the Consolidated Net Total Leverage Ratio as of the end of any such fiscal quarter, (x) if a Qualified Offering has not been consummated, to be greater than 4.50 to 1.00 and (y) if a Qualified Offering has been consummated, to be greater than 5.00 to 1.00.

• Following the Credit Agreement Second Amendment, the Company has a waiver of non-compliance with the consolidated Net Total Leverage and Consolidated Net Senior Secured Leverage financial covenants through the quarter ending June 30, 2022 (“Extended Covenant Waiver Holiday”) and the Consolidated Net Total Leverage Ratio and Consolidated Net Senior Secured Leverage Ratio financial covenants to be set to 6.75 to 1.00 and 5.50 to 1.00, respectively, for the quarter ending on or about September 29, 2022.

• Permit the Consolidated Net Total Leverage Ratio as at the last day of any fiscal quarter of the Borrower to exceed 4.00:1.00.

• If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, at the option of (and upon the delivery of notice (telephonic or otherwise) by) the Administrative Agent or the Required Lenders, until such financial statements are delivered, the Consolidated Net Total Leverage Ratio as at the end of the fiscal period that would have been covered thereby shall for the purposes of this definition be deemed to be greater than 4.50:1.00.

• In addition to borrowings, it allows us to continue to issue letters of credit when necessary.Under the terms of the Credit Agreement, the Company is required to comply with certain covenants, the terms of which are customary and include a Consolidated Net Total Leverage Ratio and a Consolidated Net Interest Coverage Ratio.

More Definitions of Consolidated Net Total Leverage Ratio

Consolidated Net Total Leverage Ratio means, as of any date of determination (the “Transaction Date”), the ratio of (a) Total Net Debt as of the last day of the Four-Quarter Period most recently ended as of such date to (b) the aggregate amount of Consolidated Cash Flow for the Four-Quarter Period most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP. For purposes of this definition, Consolidated Cash Flow shall be calculated after giving effect on a pro forma basis for the period of such calculation to:

Consolidated Net Total Leverage Ratio as at any date, the ratio of (a) Consolidated Net Total Leverage on such day to (b) Consolidated EBITDA of Holdings, the Borrowers and their Restricted Subsidiaries for the period of four consecutive fiscal quarters Most Recently Ended on or prior to such date.

Consolidated Net Total Leverage Ratio means, as of the last day of each fiscal quarter, the ratio of Consolidated Net Total Funded Debt as of such day to Post EOne Consolidated EBITDA for the Measurement Period then ended.

Consolidated Net Total Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Debt (net of unrestricted cash and Cash Equivalents of the Borrower and its Subsidiaries maintained in the United States in excess of $75,000,000 (but with Consolidated Funded Debt not to be reduced by more than $50,000,000)) (including the Loans and other Obligations under this Agreement) as of such date to (b) Consolidated EBITDA for the period of four (4) consecutive Fiscal Quarters ending as of such date.

Consolidated Net Total Leverage Ratio as at any date of determination, the ratio of (a)(i) the aggregate principal amount of Consolidated Total Debt on such date less (ii) the aggregate amount of Unrestricted Cash (not to exceed $150,000,000) on such date to (b) Consolidated EBITDA of the ABL Administrative Borrower and its Restricted Subsidiaries for the Test Period most recently ended on or prior to such date.

Consolidated Net Total Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower, the ratio of (a) (i) Consolidated Total Debt on such day less (ii) the aggregate amount of Unrestricted Cash (not to exceed $150,000,000) to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period.

Consolidated Net Total Leverage Ratio as of any date of determination means the ratio of (1) (x) Consolidated Total Indebtedness of the Company and its Restricted Subsidiaries minus (y) the aggregate amount of unrestricted cash and Temporary Cash Investments of the Company and its Restricted Subsidiaries determined on a consolidated basis as reflected on the balance sheet in accordance with GAAP, in each case of clause (x) and (y) as of the most recent Four Quarter Period to (2) the Consolidated EBITDA of the Company and its Restricted Subsidiaries for the most recently ended Four Quarter Period. In making the foregoing calculation: