Consolidated Senior Debt Ratio as of the last day of any period of four consecutive fiscal quarters, the ratio of (a) Consolidated Senior Debt on such day to (b) Consolidated EBITDA for such period.
Consolidated Senior Debt Ratio means, with respect to any Person, the ratio of (x) consolidated Senior Debt of such Person at the date of determination giving rise to the need to calculate the Consolidated Senior Debt Ratio (the “Determination Date”) to (y) Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four Quarter Period”) ending on or prior to the Determination Date. In addition to and without limitation of the foregoing, for purposes of this definition,
Consolidated Senior Debt Ratio means, as of any date of determination, the ratio of (1) the aggregate amount of Senior Indebtedness of the Issuer and its Restricted Subsidiaries as of such date of determination, to (2) EBITDA for the period of the most recent four consecutive fiscal quarters for which internal financial statements are available, with such pro forma and other adjustments to each of Senior Indebtedness and EBITDA as are appropriate and consistent with the pro forma and other adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio.
Examples of Consolidated Senior Debt Ratio in a sentence
Permit the Consolidated Senior Debt Ratio for any period of four consecutive fiscal quarters of the Borrower to exceed 2.50:1.00.
Permit the Consolidated Senior Debt Ratio as of the end of any fiscal quarter ending during any "Test Period" set forth below (and tested quarterly) to exceed the ratio set forth opposite such period below: Test Period Ratio Closing Date - June 30, 1998 4.75 to 1.00 July 1, 1998 - June 30, 1999 4.50 to 1.00 July 1, 1999 - June 30, 2000 4.25 to 1.00 July 1, 2000 - June 30, 2001 4.00 to 1.00 thereafter 3.75 to 1.00.
In the event that the Consolidated Total Debt Ratio and the Consolidated Senior Debt Ratio fall within different pricing levels set forth above, the higher applicable pricing level shall apply.
Consolidated Senior Debt Ratio as of the last day of any four-fiscal-quarter period from _______, ____ through _______, _____.
Consolidated Senior Debt Ratio as of the last day of any four-fiscal-quarter period (or, if less, the number of full fiscal quarters subsequent to the Effective Date) from ________, ____ through _______, _____.
More Definitions of Consolidated Senior Debt Ratio
Consolidated Senior Debt Ratio as of the last day of any period of four consecutive fiscal quarters, the ratio of (a) Consolidated Senior Debt on such day to (b) Consolidated EBITDA of the Ultimate Parent and its Subsidiaries for such period.
Consolidated Senior Debt Ratio as of any date of determination means the ratio of (1) (x) Consolidated Total Indebtedness of the Borrower and its Restricted Subsidiaries as of such date, minus (y) the amount of unrestricted cash and Cash Equivalents that would be stated on the balance sheet of the Borrower and the Restricted Subsidiaries that are Domestic Subsidiaries and held by the Borrower and such Restricted Subsidiaries as of such date of determination, not exceeding $60 million, to (2) the EBITDA of the Borrower and its Restricted Subsidiaries (calculated as set forth in Section 7.11(d)) for the most recently ended four full fiscal quarters for which internal financial statements are available (or, if earlier, were required to be delivered pursuant to Section 6.01(a) or (b)) immediately preceding the date on which such event for which such calculation is being made shall occur and (B) “Unrestricted Cash” means unrestricted cash and Cash Equivalents that would be stated on the balance sheet of the Borrower and the Restricted Subsidiaries and held by the Borrower and the Restricted Subsidiaries as of any date of determination; provided that any cash and Cash Equivalents attributable to Foreign Subsidiaries shall be calculated net of any reasonably anticipated repatriation costs and expenses of domesticating such cash and Cash Equivalents from such Foreign Subsidiaries as determined by the Borrower in good faith. Notwithstanding anything to the contrary herein, the Consolidated Senior Debt Ratio shall be calculated on a Pro Forma Basis with respect to each Specified Transaction occurring during the applicable four quarter period to which such calculation relates, or subsequent to the end of such four-quarter period but not later than the date of such calculation.
Consolidated Senior Debt Ratio means, with respect to any Person, the ratio of (x) consolidated Senior Debt of such Person at the date of determination giving rise to the need to calculate the Consolidated Senior Debt Ratio (the "DETERMINATION DATE") to (y) Consolidated EBITDA of such Person during the four full fiscal quarters (the "FOUR QUARTER PERIOD") ending on or prior to the Determination Date. In addition to and without limitation of the foregoing, for purposes of this definition, "Consolidated EBITDA" and "consolidated Senior Debt" shall be calculated after giving effect on a PRO FORMA basis for the period of such calculation to
Consolidated Senior Debt Ratio means, as of any Calculation Date, the sum of (i) Funded Indebtedness of Speedway Motorsports and its Subsidiaries on a consolidated basis as of such Calculation Date minus Subordinated Debt of the Credit Parties as of such Calculation Date, to (ii) Consolidated EBITDA for the four quarter period ended as of such Calculation Date.
Consolidated Senior Debt Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Indebtedness of the Company and its Restricted Subsidiaries on the date of determination that constitutes Senior Indebtedness (with any Indebtedness Incurred pursuant to Section 4B.03(b)(i)(ii)(y) deemed to be Senior Indebtedness for this purpose in connection with any measurement of the Consolidated Senior Debt Ratio pursuant to such clause) less the Unrestricted Cash of the Company and its Restricted Subsidiaries on such date to (b) the aggregate amount of Adjusted EBITDA for the then most recent four fiscal quarters for which internal financial statements of the Company and its Restricted Subsidiaries are available, in each case with such pro forma adjustments to Consolidated Total Indebtedness and Adjusted EBITDA as are consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio.
Consolidated Senior Debt Ratio. Excess Leverage Fee" and "Revolving Commitment Suspension Termination Date" in Section 1.1 of the Credit Agreement shall be deleted in their entirety, and each reference in the Credit Agreement thereto shall be deleted.
Consolidated Senior Debt Ratio. [Omitted*]: Consolidated Senior Fiscal Quarter Debt Ratio ------------------ ------------------- December 31, 2003 2.75 to 1.00 [Omitted*] March 31, 2004 2.60 to 1.00 June 30, 2004 2.50 to 1.00 September 30, 2004 2.50 to 1.00 December 31, 2004 2.25 to 1.00 March 31, 2005 2.15 to 1.00 June 30, 2005 2.00 to 1.00 September 30, 2005 2.00 to 1.00 December 31, 2005 1.85 to 1.00 March 31, 2006 1.75 to 1.00 June 30, 2006 1.60 to 1.00 September 30, 2006 1.60 to 1.00 December 31, 2006 1.50 to 1.00 * The omitted text has been filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.