Operating Leverage Ratio definition

Operating Leverage Ratio means, as of the last day of each ------------------------ fiscal quarter, the ratio of (i) Senior Debt of the Borrowers as of such day to (ii) combined EBITDA of the Borrowers for the two fiscal quarter period ending on such day, multiplied by two.

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Operating Leverage Ratio means for any period as of the date of determination the ratio of (a) Total Liabilities for such period to (b) EBITDA for such period, as calculated on a rolling four quarter basis as determined in accordance with GAAP.

Operating Leverage Ratio means as of any date of determination (i) Senior Funded Debt as of such date divided by (ii) EBITDA for the four consecutive fiscal quarters then ended.

Examples of Operating Leverage Ratio in a sentence

• Radian shall cause RII at all times to have a maximum Operating Leverage Ratio of twenty.

• Holding Company and its Subsidiaries shall have, on a consolidated basis, at the end of each Fiscal Quarter, an Operating Leverage Ratio as of the last day of such Fiscal Quarter for the 12-month period then ended, of not more than 2.50 to 1.00.

• On a consolidated statutory basis, ASIC and its Subsidiaries shall not permit the Operating Leverage Ratio to exceed 3.0:1.0 as of the last day of each fiscal quarter during the term of this Agreement.

• As of the end of the fiscal ------------------------ quarters of the Borrowing Group ending June 30 and September 30 of each year, Borrowers shall not cause or permit the Operating Leverage Ratio to be less than 3.50 to 1.00.

• As of the end of any Fiscal Quarter, cause each Insurance Subsidiary to maintain an Operating Leverage Ratio of not more than 3.0 to 1.0.

More Definitions of Operating Leverage Ratio

Operating Leverage Ratio. With respect to each period set forth below, the Borrowers shall not at any time during such period permit the Operating Leverage Ratio as measured on any date during such period to exceed the ratio set forth below for such period: Period Ratio ------ ----- December 31, 2002 through 6.00 to 1.00 and including March 30, 2003 March 31, 2003 through 3.00 to 1.00 and including June 29, 2003 June 30, 2003 through and 3.00 to 1.00 including September 29, 2003 September 30, 2003 2.50 to 1.00 through and including December 30, 2003 December 31, 2003 through 2.50 to 1.00 and including March 30, 2004 March 31, 2004 through 2.50 to 1.00 and including June 29, 2004 June 30, 2004 through and 2.50 to 1.00 including September 29, 2004 September 30, 2004 2.50 to 1.00 through and including December 30, 2004 December 31, 2004 2.00 to 1.00 and each quarter thereafter

Operating Leverage Ratio means as at the end of any fiscal quarter, the ratio of (x) Net Premiums Written for the Test Period then ended to (y) Statutory Surplus as at the end of such fiscal quarter; provided that (i) for the Test Period ending June 30, 1997, the Net Premiums Written for such Test Period shall be multiplied by 2 and (ii) for the Test Period ending September 30, 1997, the Net Premiums Written for such Test Period shall be multiplied by 4/3.

Operating Leverage Ratio means with respect to Borrowers and their Subsidiaries for each fiscal quarter, the ratio of (a) Funded Debt as of the end of such fiscal quarter to (b) EBITDA for the twelve-month period as of the end of such fiscal quarter.

Operating Leverage Ratio means the total net risk in force divided by the Tangible Net Worth.

Operating Leverage Ratio means, for any date of determination, the ratio ------------------------ of

Operating Leverage Ratio means Net Written Premiums over the most recent four quarters divided by Capital Surplus as of the most recent quarterly ending date.

Operating Leverage Ratio has the meaning set forth in Section 7.01(v) of this Agreement.