Permitted Leverage Ratio definition

Permitted Leverage Ratio means, as of the date hereof, 60%, as such amount may hereafter be adjusted from time to time as provided in Section 6.19(b).

Permitted Leverage Ratio means as of the end of any fiscal quarter (a) the Leverage Ratio permitted under Section 10.10 for the applicable fiscal quarter while the Covenant Relief Period is in effect and (b) 3.00 to 1.00 at all other times.

Permitted Leverage Ratio means (i) in the case of any fiscal quarter ending prior to September 30, 2024, 4.75 to 1.00, (ii) in the case of any fiscal quarter ending on or after September 30, 2024, and prior to September 30, 2025, 4.50 to 1.00, and (iii) in the case of any fiscal quarter ending on or after September 30, 2025, 4.25 to 1.00; provided that, following the consummation of a Material Acquisition that, on a Pro Forma Basis would result in an increase in the Leverage Ratio, if the Company shall so elect by a notice delivered to the Administrative Agent within 45 days after the end of the fiscal period in which the consummation of such Material Acquisition occurs or in connection with the delivery of a Compliance Certificate, whichever is sooner, the maximum Permitted Leverage Ratio shall be increased by 0.25 to 1.00 at the end of and for the fiscal quarter during which such Material Acquisition shall have been consummated and at the end of and for each of the following three consecutive fiscal quarters; provided, further, that, notwithstanding the foregoing, the maximum Permitted Leverage Ratio, inclusive of any adjustment in connection with a Material Acquisition, shall at no time exceed 5.00 to 1.00.

Examples of Permitted Leverage Ratio in a sentence

• Applicants are responsible for submitting a complete application, as described below, by the due date.

• Any increase in the Permitted Leverage Ratio provided for in Section 6.19(b)(iii) shall be effective as of the fiscal quarter next succeeding the fiscal quarter in which Borrower satisfies the Interest Coverage Test as provided in Section 6.19(b)(iii), and the Permitted Leverage Ratio (as so increased) shall remain in effect thereafter unless and until adjusted as provided in Section 6.19(b)(ii) or (iii).

• Borrower shall not permit the Leverage Ratio, determined as of the last day of each fiscal quarter of the Borrower, to exceed the then applicable Permitted Leverage Ratio (the “Leverage Test”).

• The Company will not permit the Leverage Ratio on the last day of any fiscal quarter of the Company (commencing with the first fiscal quarter of the Company ended after the Closing Date) to exceed the Permitted Leverage Ratio then in effect.

• Borrower shall not permit the Leverage Ratio to exceed the then applicable Permitted Leverage Ratio (the “Leverage Test”).

More Definitions of Permitted Leverage Ratio

Permitted Leverage Ratio. The definition of “Permitted Leverage Ratio” in Article I of the Credit Agreement is hereby deleted in its entirety.

Permitted Leverage Ratio means, as of the date of determination, a Leverage Ratio equal to or less than 4.00:1.00.

Permitted Leverage Ratio means a Leverage Ratio of no greater than 3.50:1.00.

Permitted Leverage Ratio means a Leverage Ratio of 60%, as such amount may hereafter be adjusted from time to time as provided in Section 7.02(b)(i) and (ii).

Permitted Leverage Ratio means either 55% or 50%, as determined from time to time as provided in Section 9.2. The Permitted Leverage Ratio as of December 31, 2008 shall be 50% and shall be subject to adjustment from time to time thereafter as provided in Section 9.2.

Permitted Leverage Ratio means as of the end of any fiscal quarter the Leverage Ratio permitted under Section 5.17 for the applicable fiscal quarter.

Permitted Leverage Ratio means (a) for any Fiscal Quarter ending on or prior to May 31, 2011, a Leverage Ratio of no greater than 4.50:1.0, (b) for any Fiscal Quarter ending on or prior to May 31, 2012 (but after May 31, 2011), a Leverage Ratio of no greater than 4.25:1.0, (c) for any Fiscal Quarter ending on or prior to May 31, 2013 (but after May 31, 2012), a Leverage Ratio of no greater than 3.75:1.0 and (d) for any Fiscal Quarter ending after May 31, 2013, a Leverage Ratio of no greater than 3.50:1.0.