Maximum Senior Leverage Ratio definition

Maximum Senior Leverage Ratio. Permit the Senior Leverage Ratio, as of the last day of any fiscal quarter ending during any period set forth in the table below, to exceed the ratio set forth opposite such period in the table below: Period Senior Leverage Ratio March 27, 2016 through September 24, 2016
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Maximum Senior Leverage Ratio. As of any fiscal quarter end, permit the Senior Leverage Ratio to be greater than the corresponding ratio set forth below: Period Ratio ------------------------------------------------- ------------------------------ Closing Date through September 29, 2005 2.25 to 1.00 September 30, 2005 through September 29, 2006 2.00 to 1.00 Thereafter 1.75 to 1.00
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Maximum Senior Leverage Ratio or "Maximum Senior Secured Leverage Ratio", as the case may be:
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Examples of Maximum Senior Leverage Ratio in a sentence

  • Maximum Senior Leverage Ratio...............................................................

  • Maximum Senior Leverage Ratio ................................83 SECTION 6.13.

  • Incurrence covenants for permitted acquisitions under the Permanent Facilities (calculated on a pro forma basis giving effect to such acquisition) to include (but not limited to): (i) if the Alternate Financing Structure is not implemented: o Maximum Senior Leverage Ratio not to exceed 3.5 to 1.0, and o Minimum Interest Coverage Ratio to be determined.

  • Maximum Senior Leverage Ratio..................................................

  • Maximum Senior Leverage Ratio ...................................................

  • Maximum Senior Leverage Ratio.................................................................

  • Bank hereby waives Borrower's existing default under the Loan Agreement by virtue of Borrower's failure to comply with the Maximum Senior Leverage Ratio and Liquidity Coverage Ratio set forth in Section 6.6 of the Loan Agreement for the months ended September 30, 2005, October 31, 2005, and November 30, 2005.

  • Financial Covenants: Maximum Total Leverage Ratio, Maximum Senior Leverage Ratio, Minimum Consolidated Fixed Charge Coverage Ratio, Maximum Capital Expenditures and Minimum Consolidated Net Worth covenants with levels to be determined.

  • All covenants will be set at an initial level to be no more restrictive than the initial Maximum Senior Leverage Ratio.


More Definitions of Maximum Senior Leverage Ratio

Maximum Senior Leverage Ratio. As of the Closing Date and for all 2.20:1.00 Monthly Fiscal Periods ending in Annual Fiscal Period 2003 Monthly Fiscal Periods ending in 2.05:1.00 Annual Fiscal Period 2004 Monthly Fiscal Periods ending in 2.00:1.00 Annual Fiscal Period 2005 Monthly Fiscal Periods ending in 2.20:1.00 Annual Fiscal Period 2006 and thereafter
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Maximum Senior Leverage Ratio. Company shall not permit the Senior Leverage Ratio as of the last day of the most recently ended Fiscal Quarter (i), for each Fiscal Quarter ending on or prior to June 30, 2002, to exceed 2.50:1.00, and (ii), for each Fiscal Quarter ending on or subsequent to September 30, 2002, to exceed 2.75:1.00, in each case whether calculated on an Annualized Basis or an LTM Basis.”
Sample 1
Maximum Senior Leverage Ratio. The Senior Leverage Ratio shall not, as of any Test Date during any period set forth in the table below, exceed the ratio set forth opposite such period in the table below: Period Ratio Closing Date - 5/31/00 7.00 6/1/00 - 8/31/00 6.50 9/1/00 - 11/30/00 6.25 12/1/00 - 2/28/01 6.00 3/1/01 - 5/31/01 5.75 6/1/01 - 8/31/01 5.50 9/1/01 - 11/30/01 5.25 12/1/01 - 2/28/02 5.00 3/1/02 - 5/31/02 4.75 6/1/02 - 8/31/02 4.50 9/1/02 - 2/28/03 4.25 3/1/03 - 5/31/03 4.00 6/1/03 - 8/31/03 3.75 9/1/03 - 2/29/04 3.50 3/1/04 - 5/31/04 3.25 6/1/04 and thereafter 3.00
Sample 1
Maximum Senior Leverage Ratio. Permit the ratio (the "Senior Leverage Ratio") of the Consolidated Funded Indebtedness of the Company and its Subsidiaries (excluding any Additional Subordinated Debt included therein) at any Quarterly Date during any period set forth below to the Consolidated EBITDA of the Company for the Reference Period ending on such Quarterly Date to be greater than the ratio set forth in the table below for the period during which such date falls: -51- Closing Date through January 2, 2005 2.00:1.00 January 3, 2005 through April 3, 2005 2.25:1.00 April 4, 2005 through July 3, 2005 2.50:1.00 July 4, 2005 through July 2, 2006 2.75:1.00 July 3, 2006 through October 1, 2006 2.50:1.00 October 2, 2006 through December 31, 2006 2.25:1.00 January 1, 2007 through April 1, 2007 2.00:1.00 April 2, 2007 through July 1, 2007 1.75:1.00 July 2, 2007 through December 30, 2007 1.50:1.00 December 31, 2007 and thereafter 1.00:1.00
Sample 1
Maximum Senior Leverage Ratio set forth in the foregoing table shall be increased by an additional 0.25:1.00 in excess of the applicable level otherwise provided above.
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Related to Maximum Senior Leverage Ratio

  • Senior Leverage Ratio means, on any date, the ratio of Total Debt less the sum of (a) the aggregate outstanding principal amount of the Senior Subordinated Notes plus (b) Available Cash on such date to Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Senior Leverage Ratio means the ratio of Consolidated Senior Debt, determined as of the last day of any fiscal quarter of the Company, to Consolidated EBITDA for the period of 12 months ending on such last day.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • First Lien Leverage Ratio means the ratio, as of any date, of (a) Consolidated First Lien Debt as of the last day of the Test Period then most recently ended to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted Subsidiaries on a consolidated basis.

  • Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.

  • Cash Flow Leverage Ratio means as of the last day of any calendar quarter the ratio of the Total Funded Debt as of such day to Adjusted EBITDA for the four calendar quarters then ended.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Total Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Net Total Leverage Ratio means on any date, the ratio of (A) (i) the sum of, without duplication, (x) the aggregate principal amount of any Consolidated Debt consisting of Loan Obligations outstanding as of the last day of the Test Period most recently ended as of such date (other than Excluded Transaction Debt) and (y) the aggregate principal amount of any other Consolidated Debt of the Borrower and its Subsidiaries as of the last day of such Test Period (other than Excluded Transaction Debt) less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • Consolidated First Lien Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date that is secured on a first lien basis by assets or properties of Holdings or any Subsidiaries to (b) Consolidated EBITDA of Holdings and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person at any date, the ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries as of such date (determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. In the event that the Company or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Company may elect, pursuant to an Officer’s Certificate delivered to the Trustee, that all or any portion of the commitment under any Secured Indebtedness as being Incurred at the time such commitment is entered into and any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be the creation or Incurrence of a Lien at such subsequent time. For purposes of making the computation referred to above, Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of the Restricted Subsidiaries has either determined to make or made after the Issue Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to reflect (1) net operating expense reductions and other net operating improvements or synergies reasonably expected to result from the applicable pro forma event (including, to the extent applicable, from the Transactions), and (2) all adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 5 to the “Summary historical and pro forma combined financial data” under “Summary” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such Test Period.

  • Consolidated Senior Secured Net Leverage Ratio means, for any Measurement Period, the ratio of (a) Consolidated Senior Secured Net Debt for Borrowed Money to (b) Consolidated EBITDA, in each case for such period.

  • Consolidated Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date, minus unrestricted cash and Cash Equivalents of the Loan Parties on deposit with financial institutions located in the United States, not to exceed $75,000,000 to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed four fiscal quarters.