Leverage Test definition

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 Leverage Test will be met if the ratio of Senior Consolidated Net Debt as at the relevant Semi-Annual Date to Consolidated EBITDA in respect of the Testing Period ending on that Semi-Annual Date is less than or equal to 8.5:1.

• Limitations on Restricted Payments The Issuer will not, and will not permit any Restricted Subsidiary to, directly or indirectly, make any Restricted Payment unless at the time of such Restricted Payment: (1) no Default shall have occurred and be continuing or shall occur as a consequence thereof; and (2) after giving effect to such incurrence and the application of proceeds therefrom the Consolidated Leverage Test would be satisfied.

• The rapidity of our response will be proportional enhanced by: • The advanced calculation of our needs • Knowing who in our facility falls into which priority statuses ⮚ This vaccine and antiviral plan includes our seasonal influenza campaign and our pneumococcal vaccine program.

• The Issuer may designate any Subsidiary (including any newly formed or newly acquired Subsidiary) of the Issuer as an “Unrestricted Subsidiary” under this Indenture (a “Designation”) only if: (1) no Default shall have occurred and be continuing at the time of or immediately after giving effect to such Designation; and (2) at the time of and immediately after giving effect to such Designation, the Consolidated Leverage Test would be satisfied.

• The maximum permitted ratios under our financial covenants and actual ratios were as follows: Financial Ratio Covenant Requirement Actual Ratio Leverage Test (Maximum) 5.00 3.08 Interest Coverage (Minimum) 3.00 6.60 Off-Balance Sheet Arrangements We enter into various off-balance-sheet arrangements in the ordinary course of business, primarily to meet the needs of our advisors’ clients.

More Definitions of Leverage Test

Leverage Test is defined in Section 5.04(a).

Leverage Test is defined in Section 9.2(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 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. Consolidated Cash* divided by Loans in the aggregate shall not be less than 1.50:1 at the end of each fiscal quarter.

Leverage Test has the meaning set forth in Section 2.06(a). ​ WBD (US) 42673629v7​ 740444017 21672061 ​