Financial Covenant Level definition
Financial Covenant Level means with respect to (i) the Test Periods ending on December 31, 2015, March 31, 2016 and June 30, 2016, a ratio equal to 4.50:1.00, (ii) the Test Periods ending September 30, 2016 through September 30, 2017, a ratio equal to 4.00:1.00 and (iii) the Test Period ending December 31, 2017 and each Test Period thereafter, a ratio equal to 4.00:1.00 as of the last day of such Test Period or 4.50:1.00 as of the last day of a Trigger Quarter and the last day of the next three (3) succeeding Fiscal Quarters. ”;
Financial Covenant Level shall have the meaning assigned to such term in Section 6.10.
Financial Covenant Level means, at any date, a Total Secured Leverage Ratio of 5.50 to 1.00.
More Definitions of Financial Covenant Level
Financial Covenant Level means at any date and any applicable determination of the Consolidated Secured Debt Ratio, the ratio set forth below for the most recently ended fiscal quarter ending on or immediately prior to such date: September 30, 2011 8.50:1.00 December 31, 2011 8.50:1.00 March 30, 2012 8.50:1.00 June 30, 2012 8.50:1.00 September 30, 2012 8.00:1.00 December 31, 2012 7.75:1.00 March 30, 2013 7.75:1.00 June 30, 2013 7.75:1.00 September 30, 2013 7.25:1.00 December 31, 2013 6.75:1.00 March 30, 2014 6.25:1.00 June 30, 2014 6.25:1.00 September 30, 2014 6.25:1.00 December 31, 2014 6.25:1.00 March 30, 2015 5.75:1.00 June 30, 2015 5.75:1.00 September 30, 2015 5.75:1.00 December 31, 2015 5.75:1.00 March 30, 2016 5.25:1.00 June 30, 2016 5.25:1.00 September 30, 2016 5.25:1.00 December 31, 2016 5.25:1.00