Target Leverage Ratio definition

Target Leverage Ratio means a Leverage Ratio that does not exceed 3:1, unless otherwise approved.

Target Leverage Ratio means a Leverage Ratio of: (i) 4.5:1 during the financial years ended 31 March 2018 and 31 March 2019 and (ii) 4:1 at any time thereafter;

Target Leverage Ratio has the meaning set out in clause 13.2 (Target Leverage Ratio);

Examples of Target Leverage Ratio in a sentence

• Target Leverage Ratio New debt New debt 9 Pension expense headwind since 2008 Current pension headwinds sharply contrast with pre-recession era Sustained non cash pension expense1 substantially lowers reported Company financial performance 1 Related to the “amortization of actuarial loss” component of pension expense.

• If the Leverage Ratio as of the Initial Funding Date is in excess of the Target Leverage Ratio, the Partnership will use reasonable efforts to reduce the Leverage Ratio to the Target Leverage Ratio by refinancing one or more of the Properties or by acquiring additional Properties in accordance with the terms set forth on EXHIBIT G attached hereto or such other terms as Approved by the Partners.

• If the Leverage Ratio as of the Initial Funding Date is less than the Target Leverage Ratio, the Partnership will use reasonable efforts to increase the Leverage Ratio to the Target Leverage Ratio by financing or refinancing one or more of the Properties or by assuming additional indebtedness through acquiring additional Properties in accordance with the terms set forth on EXHIBIT G attached hereto or such other terms as Approved by the Partners.

More Definitions of Target Leverage Ratio

Target Leverage Ratio a Consolidated Leverage Ratio of less than 4.0 and a Consolidated Senior Leverage Ratio of less than the ratio specified in Section 7.1(b) applicable at such time.

Target Leverage Ratio shall have the meaning given to it in Article 4.3;

Target Leverage Ratio shall have the meaning given to such term in Section 3.1(d)(vi).

Target Leverage Ratio the ratio of the Principal Balance as of the last day of any month to (I) in the case of months ending on or prior to December 31, 1999, the lesser of (A) the product of (1) Operating Cash Flow for the period from the Closing Date through such last day multiplied by (2) a fraction, the (x) numerator of which is 365 and (y) denominator of which is the number of days elapsed from the Closing Date through such last day and (B) Pro Forma Operating Cash Flow for the twelve month period ending on such last day and (ii) in the case of months ending after December 31, 1999, Pro Forma Operating Cash Flow for the twelve month period ending on such last day.

Target Leverage Ratio means a Leverage Ratio of forty percent (40%).

Target Leverage Ratio means, as of any Target Leverage Test Date, the ratio of (a) an amount equal to (i) Consolidated Total Funded Indebtedness as of such Target Leverage Test Date (calculated after giving effect to any mandatory prepayments made on such date pursuant to Section 3.04(b)), minus (ii) the dollar amount of funds on deposit in the GP Cash Collateral Account on such Target Leverage Test Date (after giving effect to any disbursements from the GP Cash Collateral Account made on such date), divided by (b) Consolidated EBITDA (or Annualized Consolidated EBITDA, in the case of Rolling Periods ending on or prior to December 31, 2013) for the most recently ended Rolling Period for which financial statements have been delivered to the Administrative Agent pursuant to Section 8.01(a) or (b) (which, for the avoidance of doubt, shall be calculated without adding any Equity Cure Amounts or any Equity Cure Rollover Amounts thereto).

Target Leverage Ratio means a Leverage Ratio of 2.0.