Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Secured Debt of the Parent and its Subsidiaries less the amount by which the aggregate Unrestricted Cash and Cash Equivalents of the Parent and its Subsidiaries at such time exceeds $10,000,000 (the “Secured Debt Leverage Ratio Adjustment”) to (b) Total Asset Value; provided that for purposes of clause (a), Unrestricted Cash and Cash Equivalents shall be adjusted to deduct therefrom any Unrestricted Cash and Cash Equivalents used to determine the Unsecured Leverage Ratio Adjustment.
Examples of Secured Debt Leverage Ratio in a sentence
Maintain at the end of each fiscal quarter of the Parent Guarantor, a Secured Debt Leverage Ratio not greater than 40.0%, provided that the Parent Guarantor shall have the right to maintain a Secured Debt Leverage Ratio of greater than 40.0% but less than or equal to 45.0% for up to four consecutive quarters of the Parent Guarantor during the term of the Facility following any acquisition of one or more Assets.
More Definitions of Secured Debt Leverage Ratio
Secured Debt Leverage Ratio means, as of any date of determination, the ratio of:
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lenders pursuant to Section 5.03(b) or (c) as the case may be; provided, however, that secured Debt shall exclude, to the extent provided in Section 8.01(b), (i) the Debt evidenced by any Qualified Term Note held by the Administrative Agent, and (ii) the Debt evidenced by any Qualified Term Note held by the administrative agent or, if there is no administrative agent, the lender under any Senior Unsecured Bank Facility, so long as the Administrative Agent shall be a Qualified Unsecured Lender (as defined in the loan documentation for such Senior Unsecured Bank Facility) and the property encumbered by the Qualified Mortgage which evidences such Debt is not subject to any liens other than such Qualified Mortgage.
Secured Debt Leverage Ratio means, as of any date of determination, the ratio of (1) Consolidated Total Debt of the Company and its Restricted Subsidiaries that is secured by Liens (provided that in making such calculation, the lesser of (i) the amount of commitments (drawn or undrawn) under the U.S. Credit Facility at such date of determination and (ii) the “borrowing base” under the U.S. Credit Facility at such date of determination, shall be deemed outstanding and secured by a Lien and Debt permitted to be secured pursuant to clause (20)(a)(i) of the definition of “Permitted Liens” shall be deemed outstanding and secured by a Lien) (but excluding Debt secured only by Liens on the Collateral ranking junior to the Liens securing the Notes, the Note Guarantees and Obligations in respect thereof) to (2) the Company’s EBITDA for the four full fiscal quarters immediately prior to the determination date for which financial statements have been provided (or if not timely provided, required to be provided) pursuant to this Indenture (whether through filing of a Form 10-Q or a Form 10-K for such period or an earnings release filed on Form 8-K) or, in the case of periods prior to the Issue Date, filed with the Commission immediately preceding the date on which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Debt and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio”.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lender Parties pursuant to Section 5.03(b) or (c) as the case may be; provided, however, that secured Debt shall exclude, to the extent provided in Section 8.01(b), the Debt evidenced by any New York Term Note.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Trustee pursuant to Section 3.01(b) or (c), as the case may be.
Secured Debt Leverage Ratio means, on any determination, the ratio of Secured Consolidated Debt on such date to Adjusted EBITDA for the most recently completed four consecutive Financial Quarters ending on or prior to such date.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lenders pursuant to Section 5.03(b) or (c) as the case may be; provided, however, that secured Debt shall exclude, to the extent provided in Section 8.01(b), (i) the Debt evidenced by any Qualified Term Note held by the Administrative Agent, and (ii) the Debt evidenced by any Qualified Term Note (as defined in the Existing Credit Agreement) held by the administrative agent under the Existing Credit Agreementor, if there is no administrative agent, the lender under any Senior Unsecured Bank Facility, so long as the Administrative Agent shall be a Qualified Unsecured Lender (as defined in the Existing Credit Agreementloan documentation for such Senior Unsecured Bank Facility) and the property encumbered by the Qualified Mortgage which evidences such Debt is not subject to any liens other than such Qualified Mortgage (as defined in the Existing Credit Agreement).