Leverage Covenant Cushion Condition definition
Leverage Covenant Cushion Condition means, as of any date of determination with respect to any Distribution or acquisition permitted under this Agreement, the ratio of Borrower's Adjusted Debt to EBITDAR (calculated as of the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination as adjusted to give effect to such acquisition or Distribution as provided in Sections 9.8 andSection 9.9 respectively) shall be greater than or equal to 0.50x (provided that during the Covenant Relief period, such requirement shall be 0.25x) inside the applicable threshold required under Section 10(b) hereof with respect to the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination.
Leverage Covenant Cushion Condition has the meaning set forth in Section 9.9. “Lenders” means the financial institutions named on the attached Schedule 1 or on the most recently amended Schedule 1, if any, delivered by Administrative Agent to the Borrower under this Agreement, and, subject to this Agreement, their respective successors and assigns (but not any Participant who is not otherwise a party to this Agreement). Unless the context otherwise requires, for the avoidance of any doubt, the term “Lenders” includes the Administrative Agent as the Swing Line lender and issuer of LCs.
Leverage Covenant Cushion Condition means, as of any date of determination with respect to any Distribution permitted under this Agreement, the ratio of Borrower's Adjusted Debt to EBITDAR (calculated as of the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination as adjusted to give effect to such Distribution as provided in Section 9.9) shall be greater than or equal to 0.50x (provided that during the Covenant Relief period, such requirement shall be 0.25x) inside the applicable threshold required under Section 10(b) hereof with respect to the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination.
More Definitions of Leverage Covenant Cushion Condition
Leverage Covenant Cushion Condition has the meaning set forth in Section 9.9.
Leverage Covenant Cushion Condition means, as of any date of determination with respect to any Distribution or acquisition permitted under this Agreement, the ratio of Borrower’s Adjusted Debt to EBITDAR (calculated as of the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination as adjusted to give effect to such acquisition or Distribution as provided in Sections 9.8 and 9.9 respectively) shall be less than or equal to a ratio that is 0.50x inside the applicable threshold required under Section 10(b) hereof with respect to the last day of the fiscal quarter of the Borrower ending immediately prior to such date of determination.
Leverage Covenant Cushion Condition is deleted, and the definitions of “ABR Borrowing,” “Acquisition,” “Adjusted One-Month LIBOR Rate,” “Bail-In Action,” “Bail-In Legislation,” “Disposition,” “LIBOR Rate,” “LIBOR Rate Borrowing,” and “Write-Down and Conversion Powers” as set forth in Section 1.1 are hereby respectively restated as follows: