Leverage Test is defined in Section 6.19(b).
Leverage Test means that, as of the end of the applicable Fiscal Quarter of the Borrower, the ratio of (a) Funded Debt of the Borrower and its Consolidated Subsidiaries to (b) the sum of (i) the total assets of the Borrower and its Consolidated Subsidiaries minus (ii) the total liabilities of the Borrower and its Consolidated Subsidiaries, in each case in clauses (a) and (b), as set forth in the financial statements delivered pursuant to Section 5.01(a) or Section 5.01(b), as applicable, for such Fiscal Quarter, does not exceed 1.0 to 1.0.
Leverage Test means, in respect of any Measurement Period, the ratio of Consolidated Total Net Borrowings on the last day of that Measurement Period to Adjusted Consolidated EBITDA in respect of that Measurement Period.
Examples of Leverage Test in a sentence
The Company must ensure that the Leverage Test in respect of each Measurement Period shall not exceed 3.25:1.
As of the last day of each Leverage Test Period beginning on January 1, 2003 through and including March 31, 2003, the Total Leverage Ratio shall not exceed 4.25:1.00.
The Leverage Ratio shall not exceed the then applicable Permitted Leverage Ratio (the "Leverage Test").
As of the last day of each Leverage Test Period beginning on January 1, 2005 through and including December 31, 2005, the Total Leverage Ratio shall not exceed 3.50:1.00.
As of the last day of each Leverage Test Period beginning on January 1, 2004 through and including December 31, 2004, the Total Leverage Ratio shall not exceed 3.75:1.00.
More Definitions of Leverage Test
Leverage Test is defined in Section 9.2(a).
Leverage Test is defined in Section 5.04(a).
Leverage Test has the meaning set forth in Section 2.06(a).
Leverage Test means, for any date during each period set forth below, the ratio set forth opposite such period: Period Ratio ------ ----- Issue Date through September 30, 2004 5.25 to 1 October 1, 2004 through September 30, 2005 4.75 to 1 October 1, 2005 through September 30, 2006 4.25 to 1 October 1, 2006 and thereafter 4.00 to 1
Leverage Test is defined in Section 5.04.
Leverage Test means a test conducted four times per calendar year to determine the Total Net Leverage Ratio for purposes of determining whether or not the Initial Security Deposit (defined in Section 36(a)(i)) shall be increased.
Leverage Test and “Liquidity Test” in Section 1.1 of the Original Credit Agreement are hereby deleted in their entirety.