First Lien Net Secured Leverage Ratio means, with respect to any TTM Period, the ratio of (i) (x) the sum of the aggregate outstanding principal amount of First Lien Secured Debt (on a consolidated basis) of the Parent and its Subsidiaries on the last day of such TTM Period less (y) the aggregate amount of cash and Liquid Investments of the Parent and Subsidiaries on the last day of such TTM Period to (ii) EBITDA for such TTM Period.
First Lien Net Secured Leverage Ratio means, as of any date of determination, the ratio of (1) GenOn’s Consolidated Total Indebtedness as of the applicable ratio calculation date that is secured by a first priority lien, minus Cash Equivalents included on the balance sheet of the Company as of the end of the most recent fiscal quarter ended prior to such date for which internal financial statements are available, to (2) GenOn’s EBITDA for the most recently ended Test Period.
Examples of First Lien Net Secured Leverage Ratio in a sentence
For the purposes of calculating the Consolidated Leverage Ratio, the Net Secured Leverage Ratio, the First Lien Net Secured Leverage Ratio and the ratios set forth in Sections 9.09 and 9.11, the Parent may at its option (such option to be consistently applied with respect to each Specified Transaction for purposes of all subsequent calculations), adjust EBITDA for any relevant period to give effect to any Specified Transaction on a pro forma basis.