Leverage Event definition

Leverage Event means if on any Valuation Date the Gap Risk Percentage (as defined in the table set
Sample 1Sample 2
Leverage Event means the consummation by any Loan Party of an Acquisition and the issuance by the Loan Parties of Convertible Debt Securities in connection therewith in a principal amount equal or greater to $200,000,000.
Sample 1
Leverage Event as defined in Section 8.15.
Sample 1

Examples of Leverage Event in a sentence

  • Collateral Agent and Lender agree to release (or direct the Servicer to release) the Rio Leverage Event Cash Collateral (i) on quarterly Payment Dates as necessary to consummate ECF Purchases (as and when such purchases are effected in accordance with the provisions of the Note Sales Agreement) and (ii) at any time upon the election of the Borrower to utilize funds to repay the Loan.

  • The Outstanding Number of Referenced Units may change from time to time following the occurrence of a Leverage Event, a Deleverage Event or as otherwise required in accordance with the terms and conditions of the Notes and if all Fund Strategy Units comprised in the Fund Strategy are subject to a mandatory redemption in accordance with the methodology of the Fund Strategy.

  • The number of Fund Strategy Units that are referenced by the Total Return Swap may change from time to time following the occurrence of a Leverage Event or a Deleverage Event, as more fully described in paragraph 3 below.

  • Subject to the detailed provisions below, a Leverage Event will occur if the Determination Agent determines that the Cushion is sufficiently large relative to the Maximum Unit Crash Exposure (as defined and determined in accordance with the methodology of the Fund Strategy as set in the Annex to this Pricing Supplement (as may be amended from time to time in accordance with its terms)).

  • Monthly Over Leverage Fee: $ (Tangible Net Worth Shortfall x 12% / 12) The Over Leverage Fee is payable monthly on the 15th day of the month following any month in which an Over Leverage Event occurs.

  • The aggregate of the Floating Rate Payer Calculation Amounts (as defined in the applicable Standard Terms) for all Long CDS (the "Long Exposure Amount") and for all Short CDS (the "Short Exposure Amount") comprised in the CDS Portfolio will be adjusted from time to time if a Leverage Event or a Deleverage Event occurs.

  • During the Ramp-Up Period, the Portfolio Manager shall take steps to ramp-up the CDS Portfolio by the addition of Notional Swap Transactions to the CDS Portfolio in accordance with the Leverage Event provisions relating to the Initial Leverage such that each Notional Swap Transaction Group in the table describing the Initial Reference Portfolio set out in Annex 3 to this Series Memorandum shall be comprised in the CDS Portfolio as of the Initial Leverage Date.

  • A decrease in the Bond Floor will increase the likelihood that a Leverage Event will occur such that the Portfolio Manager will be obliged to increase the aggregate notional exposure to the CDS Portfolio.

  • The amount of the exposure of the Issuer (and, consequently, the Noteholders) to the Notional Swap Transactions comprised in the Notional Portfolio may change from time to time upon the occurrence of a Leverage Event or a Deleverage Event.

  • The determination of a real or notional Fee will be made after any increase or decrease in the Long Exposure Amount has been effected in respect of the Leverage Event or Deleverage Event, if any, on such date.


More Definitions of Leverage Event

Leverage Event means that at any Transaction Date, the Leverage Ratio is greater than 5.5 to 1.0.
Sample 1
Leverage Event shall have occurred if, at any time on or after the Collateral Signing Date, the Leverage Ratio is greater than or equal to 3.70 to 1.00.
Sample 1
Leverage Event means if on any Valuation Date the Gap Risk Percentage (as defined in the table set out in clause 1.3 of Schedule 1) is less than 15 per cent or greater than 25 per cent;
Sample 1
Leverage Event has the meaning given to it in clause 18.5 (Leverage Event).
Sample 1

Related to Leverage Event

  • Breakage Event shall have the meaning assigned to such term in Section 2.16.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Average monthly discharge limitation means the highest allowable average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during that month.

  • Leverage Factor means the leverage factor in respect of a Series of ETP Securities as specified in the relevant Final Terms.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Consolidated Senior Secured Net Leverage Ratio means as of any date of determination the ratio, on a Pro Forma Basis, of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Senior Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Senior Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • €STR Index Cessation Event means the occurrence of one or more of the following events, as determined by the Issuer and notified by the Issuer to the Calculation Agent:

  • Expected week of childbirth means the week, starting on a Sunday, during which the mother's doctor or midwife expects her to give birth.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • SOFR Index Cessation Date means, in respect of a SOFR Index Cessation Event, the date on which the FRBNY (or any successor administrator of the SOFR), ceases to publish the SOFR, or the date as of which the SOFR may no longer be used.

  • Average weekly discharge limitation means the highest allowable average of “daily discharges” over a calendar week, calculated as the sum of all “daily discharges” measured during a calendar week divided by the number of “daily discharges” measured during that week.

  • Consolidated First Lien Leverage Ratio means, as of the date of determination, the ratio of (a) Consolidated Indebtedness as of such date that is secured by first-priority Liens on the Collateral to (b) EBITDA for the most recently ended Test Period, in each case of the Borrower and its Restricted Subsidiaries on a consolidated basis.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (x) the sum of (a) Consolidated Total Indebtedness as of such date and (b) without duplication, the Reserved Indebtedness Amount as of such date to (y) LTM EBITDA.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Senior Leverage Ratio means, as of any date of determination, on a Pro Forma Basis, the ratio of (i) Senior Indebtedness of the Borrower and its Subsidiaries as of such date to (ii) Annualized EBITDA for the Borrower and its Subsidiaries for the most recently ended Test Period.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.