Leverage Increase Period definition
Leverage Increase Period has the meaning specified in Section 8.11(a).
Leverage Increase Period shall have the meaning assigned to such term in Section 6.1.
Leverage Increase Period has the meaning specified in Section 5.04(a)(i).
Examples of Leverage Increase Period in a sentence
The Borrower will not at any time permit the ratio (expressed as a percentage) of Consolidated Total Secured Indebtedness as of such date of determination to Consolidated Total Asset Value as of such date to exceed forty NAI-5000431466v13 percent (40%); provided that the foregoing limit shall increase to forty-five percent (45%) for any fiscal quarter for which a Leverage Increase Period is in effect.
Consolidated Leverage Ratio (Line II.A minus II.B ÷ Line I.C): _____ : 1.00 Maximum permitted: _____ : 1.002 2 3.50 : 1:00, or, if a Leverage Increase Period is in effect, 4.00 : 1.00.
For purposes of any provision of this Agreement that requires pro forma compliance with the Financial Covenant or compliance with the then-applicable Financial Covenant level prior to the first full fiscal quarter of the Parent Borrower following the Effective Date, the Financial Covenant level that would apply if the Financial Covenant was then in effect (i.e., a Total Net Leverage Ratio of 4.00:1.00 or, if a Leverage Increase Period would have applied, 4.50:1.00) shall be used.
More Definitions of Leverage Increase Period
Leverage Increase Period means the four fiscal quarters ended immediately following the consummation of a Qualified Acquisition.
Leverage Increase Period means the period commencing on the last day of the Covenant Relief Period and ending on the earlier of (i) the first Measurement Date following the date Hyatt has delivered a notice to the Administrative Agent electing to terminate the Leverage Increase Period (for the avoidance of doubt, the increased Leverage Ratio permitted under clause (ii) of Section 5.9(a) shall not apply for such Measurement Date) and (ii) the day following the second Measurement Date occurring after the Covenant Relief Period, which date shall not, in any event, be later than October 1, 2021.
Leverage Increase Period as defined in Section 6.3.
Leverage Increase Period has the meaning specified in Section 7.11. “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). “Lien Waiver” means an agreement, in form and substance satisfactory to Administrative Agent in its Permitted Discretion, by which any Person who controls or is in possesssion of the books and records of the Loan Parties, such Person grants Administrative Agent access to such books and records. “Line Cap” means as of any date of determination, the lesser of the Borrowing Base and the aggregate Revolving Commitments. “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan, Protective Advance or Swingline Loan, and shall include as the context requires, any Incremental Revolving Loan. “Loan Documents” means this Agreement, each Note, each Issuer Document, each Joinder Agreement, the Collateral Documents, each Incremental Facility Amendment and the Fee Letter (but specifically excluding Secured Hedge Agreements and any Secured Cash Management Agreements). “Loan Notice” means a notice of (a) a Borrowing of Revolving Loans, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Term SOFR Loans, in each case pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit 2.02 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) appropriately completed and signed by a Responsible Officer of the Borrower. “Loan Parties” means, collectively, the Borrower and each Guarantor. -24-
Leverage Increase Period has the meaning specified in Section 7.11(a). “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property and any financing lease having substantially the same economic effect as any of the foregoing). 31
Leverage Increase Period has the meaning specified in Section 7.07. “LIBOR” has the meaning specified in the definition of “Eurodollar Rate.” 15 CHAR1\1756574v5
Leverage Increase Period has the meaning specified in Section 7.11(a). “License” means, with respect to any Person, all of such Person’s right, title, and interest in and to any and all licensing agreements or similar arrangements relating to its owned Intellectual Property and any license or agreement under which such Person is authorized to use Intellectual Property in connection with (a) any manufacture, marketing, distribution or disposition of Collateral, (b) any use of Property, or (c) any other conduct of its business, and all income, Royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including damages and payments for past and future breaches thereof, and all rights to sue for past, present, and future breaches thereof. “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property and any financing lease having substantially the same economic effect as any of the foregoing). “Limited Condition Acquisition” means a Permitted Acquisition or other Investment permitted pursuant to Section 7.04 whose consummation is not conditioned on the availability of, or on obtaining, third party financing. “Limited Condition Acquisition Agreement” means, with respect to any Limited Condition Acquisition, the definitive documentation for such Limited Condition Acquisition. “Limited Condition Asset Disposition” means any Asset Disposition for which the Borrower or the applicable Subsidiary is contractually obligated to a third party (other than the Borrower or any Subsidiary, or any of their respective Affiliates) to consummate such Asset Disposition pursuant to definitive documentation entered into by the Borrower or such Subsidiary in advance of the consummation of such Asset Disposition. “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Term Loan, a Revolving Loan or a Swingline Loan. “Loan Document” means each of this Agreement, each Note, the Guaranty, each Collateral Document, the Fee Letter, each Issuer Document, the Specified Asset Disposition Side Letter, any Autoborrow Agreement, any fee letter entered into in connection wit...