Incremental Debt Cap as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) $52,500,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured, an additional amount if, after giving effect to the incurrence of such Incremental Debt, any acquisition consummated in connection therewith and Consolidated Secured Debt and Consolidated Total Debt, as applicable, on the date of determination, the Secured Leverage Ratio is equal to or less than 3.75 to 1.00 on a pro forma basis and (ii) if such Incremental Debt consists of Incremental Notes and is unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the Total Leverage Ratio is equal to or less than 4.00 to 1.00 on a pro forma basis.
Incremental Debt Cap means, as determined with respect to any Incremental Debt to be incurred, an amount equal to the greater of (a) $250,000,000 and (b) 25% of Consolidated EBITDA of the Borrower and its Restricted Subsidiaries, as of the last day of the most recently ended period of four consecutive fiscal quarters prior to such incurrence for which financial statements were most recently delivered by the Borrower pursuant to Section 6.01(a) or (b), as applicable.
Incremental Debt Cap means, as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) $300,000,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured by the Collateral on a pari passu basis, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the First Lien Leverage Ratio (calculated assuming all Commitments under the Incremental Revolving Facilities are fully drawn) is equal to or less than 1.75 to 1.00 on a Pro Forma Basis and (ii) if such Incremental Debt is secured by the Collateral on a junior-lien basis or unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the Total Leverage Ratio (calculated assuming all Commitments under the Incremental Revolving Facilities are fully drawn) is equal to or less than 2.50:1.00 on a Pro Forma Basis.
Examples of Incremental Debt Cap in a sentence
For the avoidance of doubt, any Refinancing Facility incurred pursuant to this Section 2.16 shall not count against the Incremental Debt Cap.
More Definitions of Incremental Debt Cap
Incremental Debt Cap means, as determined with respect to any Incremental Facility to be incurred, an amount equal to the sum of (a) $150,000,000 and (b) (i) if such Incremental Facility is (or is intended to be) secured by the Collateral on a pari passu basis, an additional amount if, after giving effect to the incurrence of such Incremental Facility and any acquisition consummated in connection therewith, the First Lien Leverage Ratio is equal to or less than 2.00 to 1.00 on a Pro Forma Basis and (ii) if such Incremental Facility is secured by the Collateral on a junior-lien basis or unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Facility and any acquisition consummated in connection therewith, the Total Leverage Ratio is equal to or less than 3.00:1.00 on a Pro Forma Basis.
Incremental Debt Cap means, as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) $150,000,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured by the Collateral on a pari passu basis, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any permitted and concurrent use of proceeds thereof and all other appropriate pro forma adjustments, the Secured Net Leverage Ratio is equal to or less than 1.75 to 1.00 on a pro forma basis and (ii) if such Incremental Debt is secured by the Collateral on a junior-lien basis or unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any permitted and concurrent use of proceeds thereof and all other appropriate pro forma adjustments, the Total Net Leverage Ratio is equal to or less than 3.00:1.00 on a pro forma basis.
Incremental Debt Cap as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) $30,000,000 and (b) (i) if such Incremental Debt is (or is intended to be) secured, an additional amount if, after giving effect to the incurrence of such Incremental Debt, any acquisition consummated in connection therewith and Consolidated Secured Debt and Consolidated Total Debt, as applicable, on the date of determination, the Secured Leverage Ratio (as defined by the Term Loan Credit Agreement) is equal to or less than 3.60 to 1.00 on a pro forma basis and (ii) if such Incremental Debt consists of Incremental Notes and is unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Debt and any acquisition consummated in connection therewith, the Total Leverage Ratio (as defined by the Term Loan Credit Agreement) is equal to or less than 4.00 to 1.00 on a pro forma basis.
Incremental Debt Cap has the meaning specified in the Term Loan Credit Agreement as in effect on the date hereof.
Incremental Debt Cap means, as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) the excess (if any) of (i) $25,000,000 over (ii) the aggregate outstanding principal amount of all Incremental Term Loans and Additional Revolving Facility Commitments, in each case, incurred or established after the Closing Date and outstanding at such time pursuant to Section 2.15 utilizing this clause (a), and (b) any additional amounts so long as (x) immediately after giving effect to the establishment of the commitments in respect thereof utilizing this clause (b) or (y) at the option of the Borrower, immediately after giving effect to the incurrence of such Incremental Debt (and, in each case, assuming such commitments are fully drawn and the use of proceeds of the loans thereunder), (i) if such Incremental Debt is (or is intended to be) secured by Liens on the Collateral that rank pari passu in right of security with the Liens on the Collateral securing the Secured Obligations, the First Lien Leverage Ratio is equal to or less than 2.75 to 1.00 on a Pro Forma Basis, (ii) if such Incremental Debt is (or is intended to be) secured by Liens on the Collateral that rank junior in right of security to the Liens on the Collateral securing the Secured Obligations, the Secured Leverage Ratio is equal to or less than 3.75:1.00 on a Pro Forma Basis and (iii) if such Indebtedness is unsecured, the Total Leverage Ratio is equal to or less than 4.25:1.00 on a Pro Forma Basis.
Incremental Debt Cap means, as determined with respect to any Incremental Facility to be incurred, an amount equal to (i) $50,000,000 less (ii) the aggregate principal amount of all Indebtedness incurred under Section 7.03(m) less (iii) the aggregate principal amount of all Indebtedness incurred under Section 7.03(i).
Incremental Debt Cap means, as determined with respect to any Incremental Facility to be incurred, an amount equal to the sum of (a) $150,000,000 and (b) (i) if such Incremental Facility is (or is intended to be) secured by the Collateral on a pari passu basis, an additional amount if, after giving effect to the incurrence of such Incremental Facility and any acquisition consummated in connection therewith, the First Lien Leverage Ratio is equal to or less than 2.00 to 1.00 on a Pro Forma Basis and (ii) if such Incremental Facility is (or is intended to be) secured by the Collateral on a junior-lien basis or unsecured, an additional amount if, after giving effect to the incurrence of such Incremental Facility and any acquisition consummated in connection therewith, the Total Leverage Ratio is equal to or less than 3.00:1.00 on a Pro Forma Basis.