Ratio Incremental Amount definition

Ratio Incremental Amount has the meaning set forth in the definition of “Incremental Amount.”

Ratio Incremental Amount as defined in the definition of “Incremental Cap”.

Ratio Incremental Amount has the meaning set forth in Section 2.14(d)(v).

Examples of Ratio Incremental Amount in a sentence

• Unless the Borrower elects otherwise, each Incremental Facility will be deemed incurred first under the Ratio Incremental Amount to the extent permitted, with the balance incurred under the Fixed Incremental Amount.

• The Borrower may, in its sole discretion, at the time of incurrence of any Incremental Facility, or at any later time, divide, classify or reclassify, any Incremental Facility incurred as Fixed Incremental Amount as an Incremental Facility incurred as Ratio Incremental Amount.

• Incur (i)(x) any Incremental Term Loans or (y) any Incremental Equivalent Debt, in each case, in reliance on the Ratio Incremental Amount or (ii) or any Indebtedness pursuant to Section 7.02(n) or (s), unless in each case after giving effect thereto on a Pro Forma Basis, the Total Net Leverage Ratio does not exceed 5.00:1.00.

• Compliance with a negative covenant in the First Lien Term Loan Documents may be permitted in part by one basket or exception (including the Fixed Incremental Amount and Ratio Incremental Amount) and in part by another, in the Borrower’s discretion, and the Borrower may designate and redesignate (on or after any applicable date) the baskets or exceptions available to it on such date (or any later date) upon which compliance is based.

• Unless the Borrower elects otherwise, each Incremental Facility will be deemed incurred first under the Ratio Incremental Amount to the extent permitted, with the balance incurred under the Fixed Incremental Amount to the extent permitted.

More Definitions of Ratio Incremental Amount

Ratio Incremental Amount means, at any time, the maximum amount of Debt that could be incurred at such time by Borrower so long as on a pro forma basis, after giving effect to the incurrence of any applicable Incremental Term Loan Commitment, (a) in the case of secured Debt, the Senior Secured Net Leverage Ratio does not exceed 2.50:1.00 (as calculated by Borrower in a Compliance Certificate executed and delivered by Borrower to Agent) and (b) in all other cases, the Ratio Debt Test is satisfied.

Ratio Incremental Amount means, at any date, an aggregate principal amount that would not result in (i) with respect to any Incremental Term Loans or Incremental Equivalent Debt secured on a pari passu basis with the Liens securing the Obligations, on a Pro Forma Basis the Total Secured Net Leverage Ratio for the applicable Calculation Period exceeding 2.00:1.00, (ii) with respect to any Incremental Term Loans or Incremental Equivalent Debt that is secured on a junior basis to the Liens securing the Obligations, on a Pro Forma Basis the Total Secured Net Leverage Ratio for the applicable Calculation Period exceeding 2.00:1.00 or (iii) with respect to any Incremental Term Loans or Incremental Equivalent Debt that is unsecured, on a Pro Forma Basis the Interest Coverage Ratio for the applicable Calculation Period being less than 2.00:1.00.

Ratio Incremental Amount an aggregate principal amount of Indebtedness that, immediately after the incurrence thereof on Pro Forma Basis, would not result in the Borrower’s Consolidated Net Leverage Ratio being greater than 2.752.25:1.00 (assuming, in each case, that (a) the full amount of any Revolving Facility Increase incurred at such time is fully drawn and (b) the proceeds of any such Incremental Facility incurred at such time shall not be netted from Consolidated Funded Indebtedness for purposes of calculating the Ratio Incremental Amount).

Ratio Incremental Amount means, the maximum amount, if any, such that immediately after giving effect to the incurrence of the applicable Incremental Term Facility or Permitted Incremental Equivalent Debt on a Pro Forma Basis (for purposes of the calculations set forth below, (x) assuming that the full amount of the commitments under such Incremental Term Facility or Permitted Incremental Equivalent Debt are fully drawn on the date of incurrence thereof and (y) excluding the proceeds of such Incremental Term Facility or Permitted Incremental Equivalent Debt from the cash netting in the numerator of the Consolidated First Lien Net Leverage Ratio, Consolidated Senior Secured Net Leverage Ratio and Consolidated Total Net Leverage Ratio, as applicable):

Ratio Incremental Amount as defined in clause (c) of the definition of “Incremental Amount.”

Ratio Incremental Amount means an unlimited amount of Indebtedness, Disqualified Stock and preferred stock so long as the Ratio Requirement is satisfied.

Ratio Incremental Amount shall have the meaning assigned to such term in Section 2.24(a).