Leverage Covenant definition
Leverage Covenant has the meaning specified in Section 7.13(a).
Leverage Covenant shall have the meaning assigned to such term in Section 6.11(a).
Leverage Covenant. The financial covenant set forth in Section 15(b) of the Guarantee Agreement.
Examples of Leverage Covenant in a sentence
Permit the Interest Coverage Ratio as of the last day of any Test Period to be less than 3.503.00 to 1.00 (commencing with the Test Period ending on the last day of the fiscal quarter ending September 30, 2021December 31, 2025) (such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent pursuant to Section 6.01(a) and Section 6.01(b) for such Test Period) (together with the Leverage Covenant, the “Financial Covenants”).
More Definitions of Leverage Covenant
Leverage Covenant has the meaning set forth in Section 5.03(a).
Leverage Covenant shall have the meaning set forth in Section 9.13(d).
Leverage Covenant means the financial covenant set forth in Section 6.10(a).
Leverage Covenant the covenant set forth in Section 7.1 of the Credit Agreement, without giving effect to the Leverage Covenant Waiver.
Leverage Covenant is defined in Section 6.19(a).
Leverage Covenant is calculated as follows: ((total assets less total liabilities) plus aggregate bank borrowings)/aggregate bank borrowings. If at any time a Borrower is in violation of the Leverage Covenant, that Borrower is required within three (3) business days to repay Loans in an amount sufficient to achieve compliance with the Leverage Covenant. Each Borrower hereby promises to pay the principal and interest of each Loan made to it and related fees on the day when due to the Bank at its address stated above. Each Borrower hereby authorizes the Bank, if and to the extent a payment is owed by that Borrower, to charge against the Borrower's deposit account with the Bank any amount so due on the 15th business day of the following month.
Leverage Covenant has the meaning set forth in Section 5.03(a). “Leverage Ratio” has the meaning set forth in Section 5.03(a). “Lien” means any lien, security interest or other charge or encumbrance of any kind, or any other type of preferential arrangement, including, without limitation, the lien or retained security title of a conditional vendor and any easement, right of way or other encumbrance on title to real property. “Loan Documents” means this Agreement, each L/C Related Document, if any, and the Notes, if any. “Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. “Material Adverse Change” means any material adverse change in the business, financial condition or operations of the Borrower and its Subsidiaries taken as a whole. “Material Adverse Effect” means a material adverse effect on (a) the business, financial condition or operations of the Borrower and its Subsidiaries taken as a whole, (b) the rights and remedies of the Agent or any Lender under this Agreement or any other Loan Document or (c) the ability of the Borrower to perform its obligations under this Agreement or any other Loan Document. “Material Subsidiary” means, at any time, any Subsidiary of the Borrower (i) whose total assets at such time, less net goodwill and other intangible assets, less total current liabilities, all determined in conformity with GAAP, are equal to or greater than 5% of Consolidated Net Tangible Assets or (ii) whose revenue is equal to or greater than 5% of Consolidated revenue of the Borrower and its Subsidiaries. “Measurement Date” has the meaning specified in Section 5.03. “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Fronting Exposure of all Issuing Banks with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Agent and the Issuing Banks in their sole discretion. “▇▇▇▇▇’▇” means ▇▇▇▇▇’▇ Investors Service, Inc.