Incremental Ratio Amount definition

Incremental Ratio Amount means an aggregate principal amount of Indebtedness that, after the incurrence thereof on Pro Forma Basis and excluding the cash proceeds to the Borrower or any Subsidiary therefrom that are actually applied or intended to be applied to a particular use or transaction as of the date of incurrence thereof (but otherwise giving effect to the use of such proceeds so applied or intended to be applied), and subject to Section 1.5, would not result in:

Incremental Ratio Amount shall have the meaning assigned to such term in the definition of Incremental Facility Amount.

Incremental Ratio Amount means an unlimited amount such that after giving pro forma effect thereto (and after giving pro forma effect to any acquisition, Investment or repayment of Indebtedness consummated in connection therewith and assuming that the commitments in respect of the applicable Incremental Increase are fully drawn but excluding any Incremental Increase simultaneously incurred under the Incremental Fixed Amount), the Consolidated Senior Secured Net Leverage Ratio, calculated on a pro forma basis as of the last day of the Measurement Period most recently ended, does not exceed 3.25 to 1.00; provided that in the case of any Incremental Increase incurred in connection with a Permitted Acquisition or any other Investment not prohibited hereunder, the Consolidated Senior Secured Net Leverage Ratio, calculated on a pro forma basis as of the last day of the Measurement Period most recently ended, (x) does not exceed 3.25 to 1.00 or (y) is not greater than the Consolidated Senior Secured Net Leverage Ratio immediately prior to such Permitted Acquisition or such other Investment

Examples of Incremental Ratio Amount in a sentence

• Unless the Borrower elects otherwise, each Incremental Facility will be deemed incurred first under the Incremental Ratio Amount to the extent permitted, with the balance incurred under the Incremental Fixed Amount.

• The aggregate principal amount of Incremental Facilities on any date Indebtedness thereunder is first incurred (or in the case of Incremental Revolving Facilities, first committed), together with the aggregate principal amount of Incremental Equivalent Debt incurred as of such date, will not exceed an amount equal to the sum of the Incremental Fixed Amount and the Incremental Ratio Amount (the “Incremental Amount”).

• Each Incremental Amendment executed in connection with an Incremental Facility will identify whether all or any portion of such Incremental Facility is being incurred pursuant to the Incremental Fixed Amount or the Incremental Ratio Amount.

• For the avoidance of doubt, if the Borrower shall incur indebtedness under an Incremental Facility under the Incremental Fixed Amount substantially concurrently with the incurrence of indebtedness under the Incremental Ratio Amount, then the First Lien Net Leverage Ratio will be calculated with respect to such incurrence under the Incremental Ratio Amount without regard to any incurrence of indebtedness under the Incremental Fixed Amount.

• Calculation of the Incremental Ratio Amount, if used, will be made on a Pro Forma Basis.

More Definitions of Incremental Ratio Amount

Incremental Ratio Amount means an aggregate principal amount of Indebtedness that, after giving effect to the incurrence thereof on a Pro Forma Basis and excluding the cash proceeds to the Borrower or the Subsidiaries therefrom (but otherwise giving effect to the use of such proceeds), would not result in, with respect to any Incremental Facility or Incremental Equivalent Debt to be incurred as Pari Passu Lien Indebtedness, the First Lien Net Leverage Ratio being equal to or greater than 3.50:1.00 for the most recently ended Test Period; provided that such ratio level shall increase to 3.75:1.00 in connection with any Material Permitted Acquisition that results in the Financial Covenant level set forth in Section 6.7(a)(i) increasing and for any other Incremental Facility or Incremental Equivalent Debt incurred to finance a Material Permitted Acquisition during the duration of such increase.

Incremental Ratio Amount means an aggregate principal amount that, after giving Pro Forma effect to the incurrence thereof, in accordance with Section 1.08, would not result in:

Incremental Ratio Amount means an unlimited amount such that, after giving Pro Forma Effect to such Incurrence (including the use of proceeds thereof) and any related transactions (or, at the Borrower’s option, on the date of the initial borrowing of such Indebtedness or entry into the definitive agreement providing the commitment to fund such Indebtedness after giving Pro Forma Effect to the Incurrence of the entire committed amount of such Indebtedness and any related transactions (such committed amount, a “Ratio Tested Committed Amount”), in which case such Ratio Tested Committed Amount may thereafter be borrowed, in whole or in part, from time to time, without further compliance with this clause) (and assuming that the full amount of the commitments in respect of the applicable Incremental Increase is fully drawn but excluding any Incremental Increase simultaneously incurred under the Incremental Fixed Amount), the Consolidated Senior Secured Leverage Ratio, calculated on a pro forma basis as of the last day of the Measurement Period most recently ended, does not exceed 2.20 to 1.00.

Incremental Ratio Amount means an aggregate principal amount such that, immediately after giving effect to the incurrence of the relevant Incremental Facilities (and (x) treating any Incremental Commitments being so incurred as fully drawn for purposes of such calculation and (y) treating any unsecured Incremental Facilities being so incurred as Consolidated Senior Secured Funded Debt for purposes of testing the Incremental Ratio Amount), the use of proceeds thereof and any related pro forma adjustment thereto, the Borrower’s Consolidated Senior Secured Leverage Ratio does not exceed 3.50 to 1.00 calculated on a pro forma basis as of the last day of the most recently ended fiscal quarter for which financial statements have been delivered.

Incremental Ratio Amount means an aggregate principal amount which, after giving pro forma effect to such incurrence (assuming any increased Revolving Credit Facility is fully drawn on the date of such increase) would not cause

Incremental Ratio Amount means an unlimited amount such that, upon giving pro forma effect to such incurrence (including the use of proceeds thereof) and any related transactions (assuming that the full amount of the commitments in respect of the applicable Incremental Facility is fully drawn but excluding any Incremental Facility simultaneously incurred under the Incremental Fixed Amount), the Secured Net Leverage Ratio, calculated on a pro forma basis as of the last day of the Measurement Period most recently ended, does not exceed 1.25 to 1.00.

Incremental Ratio Amount as defined in the definition of “Maximum Incremental Facilities Amount”.