Examples of Net Secured Leverage Ratio in a sentence
For the purposes of calculating the Consolidated Leverage Ratio, the Net Secured Leverage Ratio, the First Lien Net Secured Leverage Ratio and the ratios set forth in Sections 9.09 and 9.11, the Parent may at its option (such option to be consistently applied with respect to each Specified Transaction for purposes of all subsequent calculations), adjust EBITDA for any relevant period to give effect to any Specified Transaction on a pro forma basis.
Certain of these incurrence-based covenants restrict, subject to various exceptions, our ability to take certain actions (such as incurring additional secured and unsecured indebtedness, making certain investments and paying certain dividends) unless we meet certain minimum Fixed Charge Coverage Ratio or maximum Total First Lien Net Leverage Ratio and/or Total Net Secured Leverage Ratio standards.
Notwithstanding anything herein to the contrary, with respect to determining the permissibility of the incurrence of any Indebtedness, the proceeds of such Indebtedness shall not be counted as “unrestricted cash” for purposes of clause (a)(ii) of the definition of Consolidated Net Leverage Ratio or clause (a)(ii) of the definition of Consolidated Net Secured Leverage Ratio.
Consolidated Secured Net Leverage RatioCommitment Fee≥ 2.75:1.00.375%< 2.75:1.00.250%in each case in clauses (g) and ( i) above based upon the Consolidated Net Secured Leverage Ratio as set forth in the most recent Compliance Certificate received by the Revolving Facility Administrative Agent pursuant to Section 7.02(b).
For the avoidance of doubt, any Lien securing Indebtedness incurred to refinance, refund or replace Indebtedness secured by a Lien incurred pursuant to any provision in the definition of Permitted Liens that is limited by a percentage of Total Assets or by reference to the Consolidated Net Secured Leverage Ratio may be incurred pursuant to such provision, even if the Lien securing such refinancing, refunding or replacing Indebtedness could not be itself incurred pursuant to such provision at such time.