Covered Expense Ratio definition

Covered Expense Ratio means, with respect to any PPF, on any Valuation Date, the higher of (a) the expense ratio utilized by the Sub-Adviser in its proprietary asset allocation computer model and (b) the Lower Covered Expense Ratio with respect to such PPF; provided, however, that if the percentage of the Total Net Assets of such PPF on such date allocable to Index Equities and Index Futures according to the Asset Allocation Test would be less than 30% using the Lower Covered Expense Ratio in calculating the Present Value of Covered Expenses with respect to such PPF on such Valuation Date, the Covered Expense Ratio will equal the Higher Covered Expense Ratio with respect to such PPF; and provided, further that the Covered Expense Ratio with respect to any PPF having an Aggregate Guarantee Amount on the Inception Date with respect to such PPF of less than $25,000,000 will equal the Higher Covered Expense Ratio with respect to such PPF on any Valuation Date.
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Covered Expense Ratio means, with respect to any PPF, on any Valuation Date, the higher of (a) the expense ratio utilized by Aeltus in its asset allocation model and (b) the Lower Covered Expense Ratio, provided, however, that if the percentage of the Total Asset Value of such PPF on such date allocable to equities according to the Asset Allocation Test is less than 30% using the Lower Covered Expense Ratio, the Covered Expense Ratio will equal the Higher Covered Expense Ratio.
Sample 1Sample 2
Covered Expense Ratio means, with respect to any PPF, on any Valuation Date, the higher of (a) the expense ratio utilized by the Sub-Adviser in its proprietary asset allocation computer model and (b) the Lower Covered Expense Ratio with respect to such PPF; provided, however, that (i) if the percentage of the Total Net Assets of such PPF on such date allocable to Index Equities and Index Futures according to the Asset Allocation Test would be greater than 20% and less than 30% using the Lower Covered Expense Ratio in calculating the Present Value of Covered Expenses with respect to such PPF on such Valuation Date, the Covered Expense Ratio will equal the Interpolated Covered Expense Ratio with respect to such PPF on such Valuation Date or (ii) if the percentage of the Total Net Assets of such PPF on such date allocable to Index Equities and Index Futures according to the Asset Allocation Test would be 20% or less using the Lower Covered Expense Ratio in calculating the Present Value of Covered Expenses with respect to such PPF on such Valuation Date, the Covered Expense Ratio will equal the Higher Covered Expense Ratio with respect to such PPF; and provided, further that the Covered Expense Ratio with respect to any PPF having an Aggregate Guarantee Amount on the Inception Date with respect to such PPF of less than $25,000,000 will equal the Higher Covered Expense Ratio with respect to such PPF on any Valuation Date." and (b) adding the following new defined terms thereto in alphabetical order:
Sample 1

Examples of Covered Expense Ratio in a sentence

  • The Owner's forces work between the hours of 7:30 a.m. and 3:30 p.m. on all Working Days, except those where City Hall is closed.

Related to Covered Expense Ratio

  • Expense Ratio is defined as a Fund's annual investment management fees and expenses (excluding taxes, interest, all brokerage commissions, other normal charges incident to the purchase and sale of portfolio securities, and extraordinary expenses) as a percentage of such Fund's daily net asset value.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Covered Expense means expense incurred only for the following:

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Adjusted Quick Ratio is the ratio of (a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Adjusted Consolidated EBITDA means, with respect to the Borrower and the Subsidiaries on a consolidated basis for any period, the Consolidated Net Income of the Borrower and the Subsidiaries for such period plus

  • Quick Ratio means the ratio of:

  • TTM EBITDA means, as of any date of determination, EBITDA of Borrower determined on a consolidated basis in accordance with GAAP, for the 12 month period most recently ended.

  • Annualized Consolidated EBITDA means, for any quarter, the product of Consolidated EBITDA for such period of time multiplied by four (4).

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Expense Rate As to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the Trustee Fee Rate.

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.

  • Consolidated Adjusted EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period:

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Indebtedness on such date to (b) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • Consolidated Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Fixed Charges, in each case, for the most recently completed four (4) fiscal quarters.