Senior Secured Debt Ratio definition

Senior Secured Debt Ratio means, at any time, the ratio calculated by dividing (a) the sum of (i) the Obligations outstanding, plus (ii) in the event the Borrower is in default under any Other Secured Obligations and such Other Secured Obligations have been accelerated and are outstanding, such Other Secured Obligations that have been accelerated and are outstanding at such time, by (b) EBITDA for the Borrower's four most recently completed fiscal quarters.
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Senior Secured Debt Ratio means, as of the last day of each fiscal quarter of Holdings, the ratio of (a) Consolidated Senior Secured Debt on such date to (b) Consolidated EBITDA for the four fiscal quarters then ending.
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Senior Secured Debt Ratio as of any date of determination means the ratio of (1) (x) Total Indebtedness of the Company and its Restricted Subsidiaries that is secured by a Lien minus (y) the aggregate amount of cash and Cash Equivalents (which shall be free and clear of any Liens) of the Company and its Restricted Subsidiaries determined on a consolidated basis as reflected on the balance sheet in accordance with GAAP, in each case of clause (x) and (y) as of the most recent fiscal period for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur, to (2) EBITDA of the Company and its Restricted Subsidiaries for the most recently ended four full fiscal quarters for which internal financial statements are available 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 Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.”
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Examples of Senior Secured Debt Ratio in a sentence

  • For purposes of calculating the Consolidated Senior Secured Debt Ratio, at all times on or prior to the Spin-Off Effective Date, pro forma effect will be given to the consummation of the Spin-Off.

  • In connection with the refinancing, the Company also (1) repaid $100.0 million in principal amount of term loan debt using existing liquidity and(2) increased the maximum amount of loans that can be incurred under the incremental portion of the Credit Agreement by adjusting the Consolidated Senior Secured Debt Ratio that must be maintained after giving effect to such incremental loans from 2.25 to 1.00 to 2.75 to 1.00.

  • Liens securing Indebtedness permitted to be Incurred pursuant to the covenant described under Section 4.09 if, at the time of the Incurrence of such Indebtedness and on a Pro Forma Basis, the Consolidated Senior Secured Debt Ratio would not exceed 3.50 to 1.00.

  • In connection with the refinancing, the Company also (1) repaid $100.0 million in principal amount of term loan debt using existing liquidity and (2) increased the maximum amount of loans that can be incurred under the incremental portion of the Credit Agreement by adjusting the Consolidated Senior Secured Debt Ratio that must be maintained after giving effect to such incremental loans from 2.25 to 1.00 to 2.75 to 1.00.

  • The Company shall not permit its Senior Secured Debt Ratio, calculated on a consolidated basis for the Company and its Subsidiaries, to exceed (i) 2.50 to 1.00 on the last day of any fiscal quarter from the Closing Date through and including the fiscal quarter ending March 31, 2009 and (ii) 2.00 to 1.00 on the last day of any fiscal quarter thereafter.

  • Liens securing Indebtedness permitted to be Incurred pursuant to the covenant described under Section 4.09 if, at the time of the Incurrence of such Indebtedness and after giving pro forma effect thereto, the Consolidated Senior Secured Debt Ratio would not exceed 3.50 to 1.00.


More Definitions of Senior Secured Debt Ratio

Senior Secured Debt Ratio means, as of the last day of any fiscal quarter, the ratio of (i) the aggregate outstanding Dollar Amount of the Revolving Loans, Swing Line Loans and Reimbursement Obligations, in each case as of such date to (ii) EBITDA for the four consecutive fiscal quarters then ended on such date.
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Senior Secured Debt Ratio means, as of any date of determination, the ratio of (1) ABL Debt, plus (2) Priority Lien Debt of the Company and its Restricted Subsidiaries as of that date to the Company’s EBITDA for the most recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date of determination, with such adjustments to the amount of ABL Debt, Priority Lien Debt and EBITDA as are consistent with the adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.”
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Senior Secured Debt Ratio means, at any date of determination, the ratio of (x) the aggregate Senior Secured Indebtedness of the Borrower and the Subsidiaries on such date to (y) Consolidated EBITDA for the most recently completed four fiscal quarters.
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Senior Secured Debt Ratio has the meaning specified in the Parent Credit Agreement as in effect on September 15, 2008.
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Senior Secured Debt Ratio means, for any date of calculation (which shall be as of the last day of each Fiscal Quarter), the ratio of Senior Secured Debt as of the date of determination to EBITDA calculated for the four consecutive Fiscal Quarters ending on the date of calculation. For purpose of calculation of the Senior Secured Debt Ratio only, with respect to assets not owned at all times during the four Fiscal Quarters immediately preceding the date of calculation of EBITDA, there shall be (i) included in EBITDA the pro forma EBITDA (but calculated to exclude any increase in EBITDA which would be the result of any expenses that the Borrower projects to be eliminated by such proposed acquisition) of any assets acquired during any such four Fiscal Quarters and (ii) excluded from EBITDA the EBITDA of any assets disposed of during any of such four Fiscal Quarters.
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Senior Secured Debt Ratio with respect to any Test Period, the ratio of (i) Consolidated Senior Secured Indebtedness of the Borrower on the last day of such Test Period MINUS (x) up to $30,000,000 in aggregate principal amount of Working Capital Revolving Credit Loans which constitute seasonal borrowings outstanding on the last day of such Test Period, as reduced by the aggregate amount of Unrestricted Cash held by the Borrower on the last day of such Test Period MINUS (y) without duplication, the aggregate amount of Unrestricted Cash held by the Borrower on the last day of such Test Period to (ii) Consolidated EBITDA for such Test Period.
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Related to Senior Secured Debt Ratio

  • Total Secured Debt means, as of any date of determination, the aggregate amount of senior securities representing secured indebtedness of the Obligors as of such date of determination.

  • Secured Debt means Debt of the Company or its Subsidiaries secured by an Encumbrance on the property of the Company or its Subsidiaries.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.