Net Leverage Ratio (Covenant) definition
Net Leverage Ratio (Covenant) means, at any time, the ratio of (a) Net Indebtedness (Covenant) at such time to (b) EBITDA for the most recently completed Rolling Period. By way of example and for the avoidance of doubt, the Net Leverage Ratio (Covenant) on the Closing Date shall be equal to the ratio of Net Indebtedness (Covenant) on the Closing Date to EBITDA for the Rolling Period ended on June 30, 2021.
Examples of Net Leverage Ratio (Covenant) in a sentence
Maintain a Net Leverage Ratio (Covenant) at all times of not more than 3:50 to 1.00.
Permit Domestic Liquidity as of the last day of any fiscal quarter to be less than (i) on and from the Closing Date until the fiscal quarter ending on or around June 30, 2025, $10,000,000 and (ii) at all times thereafter, $15,000,000 (in each case, the “Minimum Liquidity Covenant”, and together with the Consolidated Net Leverage Ratio Covenant, the “Financial Covenants” and each, a “Financial Covenant”).