Required Ratio definition

Required Ratio has the meaning set forth in Section 7.11(a).

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Required Ratio means, on any date of determination with respect to any incurrence of Indebtedness under Sections 9.2(f), 9.2(g) (except for the Specified Secured Senior Notes), 9.2(i) and 9.2(l), for the applicable Measurement Period, the ratio of (x) Consolidated Total Indebtedness (net of Unrestricted Cash, only in the event that the aggregate principal amount of Loans outstanding on such date does not exceed $10,000,000) as of the end of such period to (y) Consolidated EBITDA for the applicable Measurement Period shall: (1)(i) with respect to incurrence of Indebtedness under Sections 9.2(f), 9.2(g) (except for the Specified Secured Senior Notes) and 9.2(l), not exceed 2.0 to 1.0 and (ii) with respect to incurrence of Indebtedness under Section 9.2(i), not exceed 3.0 to 1.0 or (2) with respect to any such Indebtedness incurred in connection with a Permitted Acquisition or any other Investment permitted under this Agreement, not exceed (A) such ratio existing immediately prior to the incurrence of such Indebtedness and the consummation of such Permitted Acquisition or Investment permitted under this Agreement or (B) 3.0 to 1.0; provided that, in each case, (A) all pro forma calculations of such ratio within this definition shall include only those adjustments that are based on reasonably detailed written assumptions reasonably acceptable to the Administrative Agent and (B) for any Indebtedness incurred in connection with Sections 9.2(f) or 9.2(i) or a Permitted Acquisition or Investment, pro forma calculations of such ratio shall be accompanied by a certificate from a Responsible Officer on behalf of the Company delivered to the Administrative Agent no less than fifteen (15) days prior to the incurrence of any such Indebtedness, certifying that such calculation has been prepared in good faith based upon reasonable assumptions and giving effect to such incurrence on a pro forma basis, the Company is in compliance with the Required Ratio. Commencing with the fiscal quarter of the Company ended as of April 30, 2018 (which shall constitute the ‘first fiscal quarter’ of the Company for the purpose of this annualization), for the purpose of calculating the Required Ratio, Consolidated EBITDA shall be annualized in the following manner for the first three fiscal quarters of the Company: (i) for the first fiscal quarter of the Company ended as of April 30, 2018, Consolidated EBITDA for such fiscal quarter shall be multiplied by 4, (ii) for the second fiscal quarter of the Compa...

Required Ratio means 2 to 1.

Examples of Required Ratio in a sentence

Consolidated EBITDA = [ ] Consolidated Interest Expense= [ ] Actual Ratio= [ ] to 1.0 Required Ratio= [ ] to 1.0 Supporting detail showing the calculation of Consolidated Total Debt is attached hereto as Schedule 1.
Required Ratio of 1.30 KeyBank National Association, as Agent 2▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: M▇.
In the event that at any time during the Term Tenant reasonably believes that Landlord has failed to provide the Required Ratio as a result of the Other Users’ use of the Garage, Tenant shall send Landlord notice of such fact, and Landlord shall take actions reasonably necessary to control the Other Users’ use of the Garage and maintain the Required Ratio for the benefit of Tenant.
As used herein, "Required Ratio" means 5.25 to 1.0 for any period of two consecutive fiscal quarters immediately following an Acquisition with a purchase price in excess of $100,000,000 and 4.75 to 1.0 at all other times.
The provisions of Article VI of the Security Agreement with respect to the Required Ratio are suspended until the close of business on the earlier of (a) Friday, August 30, 2002 and (b) the NNG Sale Date.

More Definitions of Required Ratio

Required Ratio means the largest of the following

Required Ratio shall have the meaning set forth in Section 10.12.

Required Ratio the footnote which shall read as follows: "Subject to Sections 5.3a and 5.3b of the Agreement.".

Required Ratio means (x) the total of all interest bearing indebtedness for borrowed money less all Amounts Payable under this Note and under the other Seller Subordinated Note divided by (y) all Amounts Payable under this Note and under the Other Seller Subordinated Note plus net worth.

Required Ratio. Not less than 3.0:1.0

Required Ratio means (a) if the Mezzanine Loan has not been paid off in full pursuant to the terms of the Mezzanine Loan Documents, 1.10 to 1.00 and (b) if the Mezzanine Loan has been paid off in full pursuant to the terms of the Mezzanine Loan Documents 1.70 to 1.00.

Required Ratio means 1.54 to 1.00.