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
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 to the extent that the Borrower would, at such later time, satisfy the applicable leverage ratio for the incurrence of such Indebtedness under the Ratio Incremental Amount.
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 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 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 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 2.22.75:1.00 (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 shall have the meaning assigned to such term in Section 2.24(a).
Ratio Incremental Amount means, at any date, an aggregate principal amount that, after giving to the incurrence thereof on a Pro Forma Basis, in accordance with Section 1.08, would not result in on a Pro Forma Basis either (a) the Total Leverage Ratio for the applicable Test Period exceeding 7.50:1.00 or
Ratio Incremental Amount an aggregate principal amount of Indebtedness that, immediately after the incurrence thereof on Pro Forma Basis, would not result in, (a) with respect to Incremental Facilities secured by the Collateral on a pari passu basis with the Facilities (which may be subject to an Intercreditor Agreement), the Consolidated First Lien Net Leverage Ratio exceeding 2.90 to 1.00, (b) with respect to Incremental Facilities that are secured by the Collateral on a junior lien basis to the Facilities (which shall be subject to an Intercreditor Agreement), the Consolidated Secured Net Leverage Ratio exceeding 3.40 to 1.00 and (c) with respect to Incremental Facilities that are unsecured, the Consolidated Net Leverage Ratio exceeding 3.90 to 1.00 (assuming, in each case, that (x) the full amount of any Revolving Commitment Increase incurred at such time is fully drawn, (y) in the case of any Incremental Term Facility being incurred at such time in the form of commitments to make delayed draw term loans, assuming such delayed draw term loans were fully drawn, and (z) 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 has the meaning set forth in the definition of “Incremental Amount”. “Receivables Subsidiary” means the special purpose entity established as a “bankruptcy remote” Subsidiary of the Parent Borrower for the purpose of acquiring accounts receivable under any Permitted Receivables Facility, which shall engage in no operations or activities other than those related to such Permitted Receivables Facility. “Refinance” or “Refinancing” has the meaning set forth in the definition of “Permitted Refinancing Indebtedness”. “Refinancing Amendment” means an amendment to this Agreement, in form and substance reasonably satisfactory to the Borrowers, the Administrative Agent and the Lenders providing Specified Refinancing Debt, effecting the incurrence of such Specified Refinancing Debt in accordance with Section 2.22. “Refinancing Loan Agreements” means, collectively, the loan agreements, credit agreements or other similar agreements pursuant to which any Refinancing Loans are incurred, together with all instruments and other agreements in connection therewith, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, but only to the extent permitted under the terms of the Loan Documents. “Refinancing Loans” means loans under credit or loan agreements that are (a) senior or subordinated and unsecured or (b) secured by the Collateral of the Loan Parties on a pari passu or junior basis to the Credit Facilities, incurred in respect of a refinancing of outstanding Indebtedness of the Borrowers under the Credit Facilities; provided that, (i) if such Refinancing Loans shall be secured by a security interest in the Collateral, then such Refinancing Loans shall be incurred subject to an Acceptable Intercreditor Agreement; (ii) no Refinancing Loans shall mature prior to the final maturity date of the Indebtedness being refinanced, or have a weighted average life to maturity that is less than the weighted average life to maturity of the Indebtedness being refinanced thereby; (iii) the borrower of the Refinancing Loans shall be the applicable Borrower with respect to the Indebtedness being refinanced; (iv) such Refinancing Loans shall subject to clause (ii) above have pricing (including interest, fees and premiums), optional prepayment and redemption terms as may be agreed to by the Parent Borrower and the lenders party thereto; (v) the other terms and conditions (excluding those referenced in clauses (ii) and (iv) above) of such Refina...