First Priority Leverage Ratio definition
First Priority Leverage Ratio means, on any date, the ratio of (a) First Priority Debt on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date, taken as one accounting period.
First Priority Leverage Ratio of any person on any date of determination (the "Transaction Date") means the ratio, on a pro forma basis, of (a) the aggregate outstanding principal amount of the Notes and First Priority Pari Passu Indebtedness on such Transaction Date to (b) the aggregate amount of Consolidated EBITDA of such person attributable to continuing operations and businesses (exclusive of amounts attributable to operations and businesses permanently discontinued or disposed of) for the Reference Period immediately preceding the Transaction Date; provided that, for purposes of such calculation,
Examples of First Priority Leverage Ratio in a sentence
The Indenture is hereby amended by deleting the text of Section 4.07(a)(2) in its entirety and replacing it with the following: "the Total Leverage Ratio of the Company is greater than 4.0 to 1.0 or the First Priority Leverage Ratio of the Company is greater than 3.0 to 1.0; or".
For each determination of the First Priority Leverage Ratio made pursuant to this Section 4.01(b), the amount in clause (a) of the definition thereof shall be reduced by the amount in the Open Market Repurchase Account as of the date of such determination.