Consolidated Senior Debt Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower, the ratio of (a) Consolidated Senior Debt on such day to (b) Consolidated EBITDA for such period; provided that for purposes of calculating Consolidated EBITDA for any period, the Consolidated EBITDA of any Person or assets acquired by the Borrower or any of its Subsidiaries during such period pursuant to an Acquisition or Subsidiary Acquisition permitted hereunder (including the portion of such period prior to the consummation of such Acquisition or Subsidiary Acquisition) shall be included on a pro forma basis for such period (assuming that (i) the consummation of such acquisition and the incurrence, assumption or repayment of any Indebtedness in connection therewith occurred on the first day of such period and (ii) any cost savings to be implemented in connection with such Acquisition or Subsidiary Acquisition as to which the Borrower shall have provided support for the calculation thereof which is reasonably acceptable to the Administrative Agent in conformity with Regulation S-X under the Securities Act as in effect on the date hereof had been effected on the first day of such period) if the Borrower shall deliver to the Administrative Agent a certificate of a Responsible Officer setting forth, consistent with Article 11 of Regulation S-X under the Securities Act as in effect on the date hereof, the calculations required to support such pro forma adjustments.
Consolidated Senior Debt Leverage Ratio means, with respect to any fiscal quarter, the ratio of (a) Consolidated Senior Debt as of the end of such fiscal quarter, to (b) Consolidated EBITDAX for the trailing four fiscal quarter period ending on the last day of such fiscal quarter.
Consolidated Senior Debt Leverage Ratio means, as of any date of determination thereof, the ratio of Consolidated Senior Debt divided by Consolidated EBITDA.
Examples of Consolidated Senior Debt Leverage Ratio in a sentence
The Borrower will not permit the Consolidated Senior Debt Leverage Ratio as of the last day of any fiscal quarter to be greater than 2.00 to 1.00.
Until such time as the Borrowers have incurred Additional Senior Debt or Additional Subordinated Debt permitted under Section 8.1(d), the Consolidated Senior Debt Leverage Ratio at each Calculation Date shall be no greater than 2.50 to 1.0 for the fiscal quarter ending December 31, 2010 and at each Calculation Date thereafter.
The Borrower will not permit (i) the Consolidated Senior Debt Leverage Ratio as of the last day of any fiscal quarter ending on and after March 31, 2015 through and including June 30, 2016 to be greater than 2.50 to 1.00, and (ii) the Consolidated Leverage Ratio as of the last day of any fiscal quarter ending on or after September 30, 2016 to be greater than 4.00 to 1.00.
The Borrower will not permit (i) the Consolidated Senior Debt Leverage Ratio as of the last day of any fiscal quarter ending on and after March 31, 2015 through and including December 31, 2017 to be greater than 2.50 to 1.00, and (ii) the Consolidated Leverage Ratio as of the last day of any fiscal quarter ending on or after March 31, 2018 to be greater than 4.00 to 1.00.
Commencing on September 30, 1999 and continuing at all times thereafter, the Consolidated Senior Debt Leverage Ratio shall be tested for the period of four (4) consecutive Fiscal Quarters immediately preceding said date of determination taken together as one (1) accounting period.
More Definitions of Consolidated Senior Debt Leverage Ratio
Consolidated Senior Debt Leverage Ratio of the Company means the ratio of (i) Consolidated Indebtedness of the Company and its Restricted Subsidiaries (other than Subordinated Indebtedness) as of the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio to (ii) Consolidated EBITDA for the four full fiscal quarters immediately preceding the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio, taken as one period.
Consolidated Senior Debt Leverage Ratio of the Issuer means the ratio of (1) consolidated Indebtedness of the Issuer and its Restricted Subsidiaries determined in accordance with GAAP (other than Indebtedness that is subordinated in right of payment to the Notes) as of the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio to (2) Consolidated Cash Flow (calculated in accordance with the definition of "Consolidated Cash Flow Coverage Ratio") for the four full fiscal quarters immediately preceding the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio.
Consolidated Senior Debt Leverage Ratio. Fixed Charge Coverage Ratio", "Consolidated Total Debt Leverage Ratio" and "Consolidated EBITDA" shall have the meanings ascribed to such terms in the Credit Agreement."
Consolidated Senior Debt Leverage Ratio means, as at any date --------------------------------------- of determination, the ratio of (a) the sum of (i) the average daily aggregate principal amount of all Indebtedness of the Company and its Subsidiaries outstanding under this Agreement, (ii) the average daily amount of the Capital Investment and (iii) the average daily aggregate principal amount of all other senior Indebtedness of the Company and its Subsidiaries, in each case for the twelve consecutive fiscal months ending on such date (such sum, "Twelve Month Average Outstandings") to (b) the --------------------------------- Consolidated EBITDA for such twelve-month period minus Capital Expenditures ----- for such twelve-month period.
Consolidated Senior Debt Leverage Ratio as at the last day of any period of four consecutive fiscal quarters, the ratio of (a) (x) Consolidated Senior Debt plus (y) to the extent not otherwise included therein, the aggregate outstanding attributed principal amount under any Receivables Transfer Program incurred in accordance with Section 7.2(l) (without regard to whether or not such amount is incurred by or attributed to a Loan Party or whether or not it is reflected in the consolidated balance sheet of the Parent Borrower and its Subsidiaries), on such Back to Table of Contents day to (b) Consolidated EBITDA for such period; provided that, for purposes of calculating Consolidated EBITDA of the Parent Borrower and its Subsidiaries for any period, (i) if during such period the Parent Borrower or any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto (assuming the consummation of each such Material Acquisition and the incurrence or assumption of any Indebtedness in connection therewith occurred on the first day of such period), and if any such Material Acquisition was of a Person, if the consolidated balance sheet of such acquired Person and its consolidated Subsidiaries as at the end of the period preceding the acquisition of such Person and the related consolidated statements of income and stockholders’ equity and of cash flows for the period in respect of which Consolidated EBITDA is to be calculated (1) have been previously provided to the Administrative Agent and the Lenders and (2) either (A) have been reported on without a qualification arising out of the scope of the audit by independent certified public accountants of nationally recognized standing or (B) have been found acceptable by the Administrative Agent, and (ii) if during such period the Parent Borrower or any Subsidiary shall have made a Material Disposition, Consolidated EBITDA for such period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the Property that is the subject of such Material Disposition for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period (and, if any amount of cash from the proceeds of such Material Disposition remains after deducting from such proceeds the aggregate amount of all outstanding Revolving Credit Loans and the amount of such proceeds reinvested by the Parent Borrower and its Subsidiaries, such...
Consolidated Senior Debt Leverage Ratio means the ratio of (1) consolidated Indebtedness of the Company and its Restricted Subsidiaries (other than Subordinated Indebtedness) as of the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio to (2) Consolidated Cash Flow for the four full fiscal quarters immediately preceding the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio taken as one period.
Consolidated Senior Debt Leverage Ratio means, with respect to any Person as of any date of determination, the ratio of (i) consolidated Senior Debt of such Person and its Restricted Subsidiaries as of the date of the transaction giving rise to the need to calculate such Consolidated Senior Debt Leverage Ratio to (ii) Consolidated EBITDA for that Person and its Restricted Subsidiaries for the period of the most recent four consecutive fiscal quarters ending prior to the date of determination and as to which financial statements are available and have been filed with the Commission and/or provided to the Trustee. The calculation of the Consolidated Senior Debt Leverage Ratio shall be made according to the same procedure and be subject to the same adjustments as the Consolidated Coverage Ratio.