Reference Leverage Ratio definition

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Reference Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of the end of the most recent period of four consecutive fiscal quarters for which financial statements have been furnished to the Lenders in accordance with Sections 6.4.1 and 6.4.2 prior to such date to (b) Consolidated EBITDA for such period; provided, however, in the event that during such period the Company and its Subsidiaries (i) make an acquisition permitted by Section 6.8 (whether through stock purchase, asset purchase, merger or consolidation), for purposes of determining the Reference Leverage Ratio, Consolidated Net Income shall include the income (or loss) of such acquired Person (or acquired assets) accrued during such period prior to 38 40 the date of such acquisition or (ii) make a disposition of assets (including stock of a Subsidiary) permitted by Section 6.10 (whether through stock sale, asset sale, merger or consolidation), for purposes of determining the Reference Leverage Ratio, Consolidated Net Income shall exclude the income (or loss) of such transferred assets (or transferred Subsidiary) accrued during such period prior to the date of such disposition. In making the computations contemplated by the foregoing proviso, the Company may make appropriate pro forma adjustments to reflect cost savings and other transaction-related items so long as all such adjustments are reasonably acceptable to the Agent.

Examples of Reference Leverage Ratio in a sentence

Section 6.9.2 requirement 50% of the sum of Consolidated Net Income (which may be a negative number) for each fiscal quarter after September 30, 2007, plus net amount received from the exercise of options and other purchases of Company Capital Stock after September 30, 2007 by Company employees, plus $35,000 if Reference Leverage Ratio is less than 4.00 or $15,000 if Reference Leverage Ratio is greater than or equal to 4.00 or $0 if Reference Leverage Ratio is greater than or equal to 4.50 $ C.
Guarantees by the Company of loans by third parties to its employees in an amount not to exceed $4,000,000 in the aggregate at any one time outstanding; provided, however, that at any time when the Reference Leverage Ratio is greater than 3.50, the Company shall not enter into any additional Guarantees of loans by third parties to its employees.
Reference Leverage Ratio" means, on any date, the ratio of (a) Consolidated Total Debt as of the end of the most recent period of four consecutive fiscal quarters for which financial statements have been furnished to the Lenders in accordance with Sections 6.4.1 and 6.4.2 prior to such date to (b) Consolidated EBITDA for such period.
Affiliates engaged in businesses contemplated by Section 6.2.1 in an aggregate outstanding amount not to exceed, at the time any such Investment is made, (a) $25,000,000 at all times when the Reference Leverage Ratio exceeds 3.50 and (b) $45,000,000 at all other times.
At least five Banking Days prior to the TCI Closing, the Restricted Companies will deliver to the Administrative Agent the reports, statements, certificates and computations described in Section 7.4.2, giving pro-forma effect to the TCI Transactions and in sufficient detail to enable the Lenders to calculate the Reference Leverage Ratio as of the TCI Closing (the "TCI CLOSING REPORT").

More Definitions of Reference Leverage Ratio

Reference Leverage Ratio means, on the last day of each fiscal quarter of the Company, the ratio (expressed as a percentage) of the Consolidated Total Funded Debt of the Company and its Subsidiaries to the Consolidated EBITDA of the Company and its Subsidiaries for the period of four consecutive fiscal quarters then ended; provided, however, that Contango Borrowings of up to $100,000,000 shall be excluded from the calculation of Consolidated Total Funded Debt and all other Indebtedness in respect of the Loan (regardless of maturity) shall be included in the calculation of Consolidated Total Funded Debt; and, provided, further, however, that in the event during such period the Company or any of its Subsidiaries (a) (i) makes an acquisition permitted by Section 6.9.6 or (ii) makes or incurs a Discretionary Capital Expenditure to acquire an asset with a prior operating history or (b) makes a disposition of all or substantially all of an operating business or of an asset with a prior operating history permitted by Section 6.11.1, for purposes of this Reference Leverage Ratio, Consolidated EBITDA shall be calculated as if such acquisition, Discretionary Capital Expenditure or disposition had occurred on the first day of such period and using the historical audited financial statements (to the extent such audited financial statements are available) of any business so acquired or sold and other financial information reasonably acceptable to the Agent. In making the computations contemplated by the immediately preceding proviso, the Company may make appropriate adjustments to reflect immediate cost savings and other transaction-related items so long as all such adjustments are acceptable to the Agent.

Reference Leverage Ratio means, on any date, the ratio of Consolidated Total Net Debt to Consolidated EBITDA as of the end of the most recent period of four consecutive fiscal quarters for which financial reports have been (or are required to have been) furnished to the Lenders in accordance with Sections 6.4.1 or 6.4.2 prior to such date.