Maximum Leverage Requirement means, with respect to any request made in reliance on this definition under Article II for an increase in any Revolving Tranche or any Term Loan Tranche, for a New Revolving Facility, for a New Term Facility or for the incurrence of Incremental Equivalent Debt, the requirement that, on a Pro Forma Basis, after giving effect to the incurrence of any such increase, such new Facility or such Incremental Equivalent Debt (and, in each case, after giving effect to any acquisition consummated concurrently therewith and all other appropriate pro forma adjustment events and calculated as if any increase in any Revolving Tranche or any New Revolving Facility were fully drawn on the effective date thereof but without giving effect to the cash proceeds of such Indebtedness then being incurred), (a) for any such Indebtedness that is secured by the Collateral on a pari passu basis with the applicable Term Loans, the Consolidated First Lien Net Leverage Ratio for such Test Period, in each case on a Pro Forma Basis, does not exceed 4.90:1.00; (b) for any such Indebtedness that is secured by the Collateral on a pari passu or junior basis to the Second Lien Loans, the Consolidated Senior Secured Net Leverage Ratio for such Test Period, in each case on a Pro Forma Basis, does not exceed 7.00:1.00; and (c) for any such Indebtedness that is unsecured or subordinated in right of payment to the Obligations, the Consolidated Total Net Leverage Ratio for such Test Period, in each case on a Pro Forma Basis, does not exceed 7.00:1.00.
Maximum Leverage Requirement means, with respect to any request made in reliance on this definition under Section 2.14 for an increase in any Revolving Tranche or any Term Loan Tranche, for a New Term Facility or for the issuance of Incremental Equivalent Debt, the requirement that, on a Pro Forma Basis, after giving effect to such increase, such new Facility (assuming all commitments thereunder are fully drawn) or such Incremental Equivalent Debt (including, in each case, any acquisition consummated concurrently therewith and all other appropriate pro forma adjustment events), with respect to any such increase, new Facility or Incremental Equivalent Debt (i) that is secured by a Lien on the Collateral that is not junior to the Obligations, the First Lien Net Leverage Ratio as of the date of the most recent financial statements required to be delivered pursuant to Section 6.01(a) or (b) does not exceed 5.00 to 1.00 or (ii) that is secured by a Lien on the Collateral that is junior to the Obligations or is unsecured, the Consolidated Total Net Leverage Ratio as of the date of the most recent financial statements required to be delivered pursuant to Section 6.01(a) or (b) does not exceed 6.00 to 1.00.
Maximum Leverage Requirement means, with respect to the Incurrence of any applicable Indebtedness, Disqualified Stock or Preferred Stock, the requirement that, on a Pro Forma Basis, after giving effect to such Incurrence: (a) for any such Indebtedness, Disqualified Stock or Preferred Stock that will be secured by a Lien, the Consolidated Senior Secured Net Leverage Ratio does not exceed (i) 3.75 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Consolidated Senior Secured Net Leverage Ratio immediately prior to such Incurrence; and (b) for any such Indebtedness, Disqualified Stock or Preferred Stock that is unsecured, either (x) the Consolidated Total Net Leverage Ratio does not exceed (i) 6.50 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Consolidated Total Net Leverage Ratio immediately prior to such Incurrence, or (y) the Fixed Charge Coverage Ratio is not less than (i) 2.00 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Fixed Charge Coverage Ratio immediately prior to such Incurrence.
More Definitions of Maximum Leverage Requirement
Maximum Leverage Requirement means, with respect to any request made in reliance on this definition under Article II for an increase in any Term Loan Tranche, for a New Term Facility or for the establishment or incurrence of Incremental Equivalent Debt, the requirement that, on a Pro Forma Basis, after giving effect to the incurrence of any such increase, such new Facility or such Incremental Equivalent Debt and, in the case of any such facility, assuming the commitments being established under any increase to a Term Loan Tranche or any New Term Facility being concurrently established with any such facility are fully drawn (and, in each case, after giving effect to any acquisition in connection therewith and all other appropriate pro forma adjustment events on a Pro Forma Basis (but without giving effect to the cash proceeds of any such facility then being incurred except to the extent such cash proceeds are being utilized to repay or prepay Indebtedness but without duplication of such repayment or prepayment)), (a) for any such Indebtedness that is secured by the Collateral on a pari passu basis with the Term Loans, the First Lien Net Leverage Ratio, on a Pro Forma Basis, does not exceed 2.00:1.00; (b) for any such IF "1" = "1" "#4875-2924-7575v15" "" #4875-2924-7575v15 AMERICAS 120585256 Indebtedness that is secured by the Collateral on a junior basis to the Term Loans, the Senior Secured Net Leverage Ratio, on a Pro Forma Basis, does not exceed 2.50:1.00; and (c) for any such Indebtedness that is unsecured, either (1) the Total Net Leverage Ratio, on a Pro Forma Basis does not exceed 3.50:1.00 or (2) the Fixed Charge Coverage Ratio of Parent and its Restricted Subsidiaries (on a consolidated basis), on a Pro Forma Basis is not less than 2.00:1.00; provided that, for the avoidance of doubt, Indebtedness incurred in reliance on this definition of “Maximum Leverage Requirement” (i) that is secured by the Collateral on a pari passu basis with the Term Loans may be incurred only pursuant to Section 2.14 and (ii) that is secured by the Collateral on a junior basis to the Term Loans or that is unsecured may be incurred only pursuant to Section 2.15.
Maximum Leverage Requirement means, with respect to (1) any request pursuant to Article II for an increase in any Revolving Tranche or any Term Loan Tranche, for a New Term Facility or for the issuance of New Incremental Notes or (2) any Permitted Additional Debt incurred or issued in reliance on the Maximum Leverage Requirement under Section 7.03, the requirement that, on a Pro Forma Basis, after giving effect to such increase, such new Facility, such New Incremental Notes or such Permitted Additional Debt (and, in each case, after giving effect to any acquisition consummated concurrently therewith and calculated as if any increase in any Revolving Tranche or any New Revolving Facility were fully drawn on the effective date thereof but without giving effect to the cash proceeds of such Indebtedness then being incurred), in each case as of the last day of the most recently ended Test Period:
Maximum Leverage Requirement means, with respect to any Indebtedness, the requirement that, on a Pro Forma Basis, after giving effect to such increase and the use of proceeds thereof,
Maximum Leverage Requirement means, with respect to (1) any request made in reliance on this definition under Article II for an increase in any Revolving Tranche or any Term Loan Tranche, for a New Revolving Facility, for a New Term Facility or for the incurrence of Incremental Equivalent Debt or (2) any Ratio Debt incurred or issued in reliance on this definition under Section 7.01, the requirement that, on a Pro Forma Basis, after giving effect to the incurrence of any such increase, such new Facility or such Incremental Equivalent Debt or such Ratio Debt (and, in each case, after giving effect to any acquisition consummated concurrently therewith and all other appropriate pro forma adjustment events and calculated as if any increase in any Revolving Tranche or any New Revolving Facility were fully drawn on the effective date thereof but without giving effect to the cash proceeds of such Indebtedness then being incurred):
Maximum Leverage Requirement means, with respect to the Incurrence of any applicable Indebtedness, Disqualified Stock or Preferred Stock, the requirement that, on a Pro Forma Basis, after giving effect to such Incurrence: (a) for any such Indebtedness, Disqualified Stock or Preferred Stock that will be secured by a Lien on the Collateral on a pari passu basis with the Notes or with respect to any Priority Lien Indebtedness, the Consolidated First Lien Net Leverage Ratio does not exceed (i) 3.25 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Consolidated First Lien Net Leverage Ratio immediately prior to such Incurrence; (b) for any such Indebtedness, Disqualified Stock or Preferred Stock that will be secured by Liens on the Collateral on a junior basis to the Notes (other than Priority Lien Indebtedness), the Consolidated Senior Secured Net Leverage Ratio does not exceed (i) 3.75 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Consolidated Senior Secured Net Leverage Ratio immediately prior to such Incurrence; and (c) for any such Indebtedness, Disqualified Stock or Preferred Stock that is unsecured, either (x) the Consolidated Total Net Leverage Ratio does not exceed (i) 6.50 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Consolidated Total Net Leverage Ratio immediately prior to such Incurrence, or (y) the Fixed Charge Coverage Ratio is not less than (i) 2.00 to 1.00 or (ii) if any such Indebtedness, Disqualified Stock or Preferred Stock is to be Incurred in connection with an acquisition or similar Investment, the Fixed Charge Coverage Ratio immediately prior to such Incurrence.
Maximum Leverage Requirement means, with respect to any Indebtedness, the requirement that, on a Pro Forma Basis, after giving effect to such increase and the use of proceeds thereof, (i) with respect to any such Indebtedness secured by all or any portion of the Collateral on a pari passu or junior basis with the Liens securing the Obligations, (x) the Consolidated Secured Net Leverage Ratio does not exceed 5.50 to 1.00 or (y) if such Indebtedness is Incurred in connection with an Investment, the Consolidated Secured Net Leverage Ratio does not exceed the greater of (A) 5.50 to 1.00 and (B) the Consolidated Secured Net Leverage Ratio immediately prior to the consummation of such Investment and (iii) with respect to any such Indebtedness that is unsecured or secured solely by a Lien on assets that are not Collateral, either (x)(I) the Consolidated Interest Coverage Ratio is not less than 2.00 to 1.00 or (II) if such Indebtedness is Incurred in connection with an Investment, the Consolidated Interest Coverage Ratio is not less than the lower of (A) 2.00 to 1.00 and (B) the Consolidated Interest Coverage Ratio immediately prior to the consummation of such Investment or (y)(I) the Consolidated Total Net Leverage Ratio does not exceed 6.00 to 1.00 or (II) if such Indebtedness is Incurred in connection with an Investment, the Consolidated Total Net Leverage Ratio does not exceed the greater of (A) 6.00 to 1.00 and (B) the Consolidated Total Net Leverage Ratio immediately prior to the consummation of such Investment; provided, that solely for the purpose of calculating the Consolidated Secured Net Leverage Ratio and Consolidated Total Net Leverage Ratio pursuant to this definition, any cash proceeds from Indebtedness then being Incurred shall be excluded for purposes of cash netting.
Maximum Leverage Requirement means that, on a Pro Forma Basis, after giving effect to the applicable Incurrence of Indebtedness or issuance of Disqualified Stock or Preferred Stock, the Consolidated Senior Secured Net Debt Ratio for the most recently ended four full fiscal quarters for which financial statements have been delivered immediately preceding such Incurrence or issuance does not exceed (i) 4.25 to 1.00 or (ii) if any such Indebtedness is to be Incurred or Disqualified Stock or Preferred Stock is to be issued in connection with an acquisition or Investment, the Consolidated Senior Secured Net Debt Ratio immediately prior to the Incurrence or issuance (in each case, with any Indebtedness Incurred or Disqualified Stock or Preferred Stock issued on the date of determination under Section 3.3(b)(i)(1) (in the same transaction or series of transactions) in an amount up to the greater of (x) $783.0 million and (y) 100.0% of Consolidated EBITDA for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding such date, calculated on a Pro Forma Basis, not being included in the calculation of the Consolidated Senior Secured Net Debt Ratio for purposes of Section 3.3(b)(i)(2) on such date but not, for the avoidance of doubt, excluded from any such calculation made on any such subsequent date); provided that solely for the purpose of calculating the Consolidated Senior Secured Net Debt Ratio pursuant to this definition, any Indebtedness Incurred or Disqualified Stock or Preferred Stock issued under Section 3.3(b)(i)(2) that is unsecured shall nevertheless be deemed to be secured by a Lien.