Examples of Leverage Ratio Covenant in a sentence
In addition, the lenders agreed to (a) suspend the application of the Leverage Ratio Covenant and the FCCR Covenant, in each case, for the fiscal quarters ending on or about October 4, 2020 and December 27, 2020 and (b) increase the maximum leverage permitted for purposes of the Leverage Ratio Covenant for each of the fiscal quarters ending in 2021; provided that the Company issues new equity generating net cash proceeds of at least $25,000,000.
The rate of interest for the Loan for each Interest Period is the percentage rate per annum which is the aggregate of: the Applicable Margin; LIBOR; and until from and including 1 July 2015 until the Reinstated Leverage Ratio Covenant date, the Step-up Margin (as applicable).
Per the Credit Agreement Cash Usage fees are not included as part of Interest Expense for purposes of Senior Leverage Ratio Covenant.
Schedule 1.1 to the Credit Agreement is hereby amended to delete the definitions of "Applicable Credit Amount Percentage", "Credit Amount", "Credit Amount Certificate", "FCCR Covenant Triggering Date" and "Leverage Ratio Covenant Triggering Date" in their respective entireties.
E.g.: the academic year 2019-2020 starts at 01-08-2019 and ends at 31-07-2020.