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 2.75:1.00 (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 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 Section 2.24(a).

Ratio Incremental Amount an aggregate principal amount of Indebtedness that, immediately after the incurrence thereof on Pro Forma Basis, would not result in, (a) prior to a Junior Debt Incurrence Event, the Borrower’s Consolidated Net Leverage Ratio being greater than 2.75:1.00 and (b) from and after a Junior Debt Incurrence Event, (A) the Borrower’s Consolidated Senior Net Leverage Ratio being greater than 2.75:1.00 and (B) the Borrower’s Consolidated Net Leverage Ratio being greater than 3.75:1.00 (assuming, in each case, that (x) the full amount of any Revolving Facility Increase incurred at such time is fully drawn and (y) 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 an aggregate principal amount of Indebtedness that, immediately after the incurrence thereof on Pro Forma Basis, would not result in, (a) prior to a Junior Debt Incurrence Eventthe March 31, 2024, Financial Statement Delivery Date, the Borrower’s Consolidated Net Leverage Ratio being greater than 2.75:1.00 and (b) from and after a Junior Debt Incurrence Eventthe March 31, 2024,