Reference Leverage Ratio definition

Reference Leverage Ratio means, at any date, the ratio of (a) Consolidated Total Debt as of the end of the most recent fiscal quarter for which financial statements have been furnished to the Lenders in accordance with Section 7.4.2 prior to such date to (b) Consolidated Annualized Operating Cash Flow for such period.
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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.
Sample 1
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.
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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 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 Pro Forma EBITDA for such period.
Sample 1

Related to Reference Leverage Ratio

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Consolidated Net Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness that is secured by a Lien as of such date minus all unrestricted cash and Cash Equivalents of the Consolidated Parties as of such date to (b) Consolidated EBITDA for the period of the most recently ended four full consecutive fiscal quarters then last ended (in each case taken as one accounting period) for which financial statements have been or are required to be delivered pursuant to Section 7.01(a) or (b).

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (x) the sum of (a) Consolidated Total Indebtedness as of such date and (b) without duplication, the Reserved Indebtedness Amount as of such date to (y) LTM EBITDA.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • First Lien Leverage Ratio means, on any date, the ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Senior Leverage Ratio means, as of any date of determination, on a Pro Forma Basis, the ratio of (i) Senior Indebtedness of the Borrower and its Subsidiaries as of such date to (ii) Annualized EBITDA for the Borrower and its Subsidiaries for the most recently ended Test Period.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Consolidated Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Consolidated Secured Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Total Indebtedness secured by a Lien as of such date to (y) LTM EBITDA.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.