Total Leverage definition

Total Leverage means, at any time, the ratio of (i) Total Debt of the Company to (ii) Pro Forma Annualized EBITDA.

Total Leverage means, in respect of any period, the ratio of Total Debt on the last day of that period to Consolidated EBITDA in respect of that period.

Total Leverage means the ratio of Total Net Interest Bearing Debt to EBITDA.

Examples of Total Leverage in a sentence

• Permit the Consolidated Total Leverage Ratio to be greater than sixty percent (60%) as of the end of any fiscal quarter.

• In addition, such certificate shall include a reasonably detailed calculation of the Collateral Rig Leverage Ratio and the Total Leverage Ratio for such period and whether Holdings is in compliance with the covenants set forth in Sections 4.14 and 4.15.

• If the Total Leverage Ratio at any time exceeds 3.50 to 1.00, as evidenced by an Officer’s Certificate delivered pursuant to Section 7.2(a), the interest rate payable on the Notes shall be increased by 0.75% (the “Incremental Interest”).

• Notwithstanding the foregoing, calculations of the Total Leverage Ratio for purposes of the definition of “Applicable Rate” and Section 2.05(b)(i) and 2.05(b)(ii) shall not include any cost savings, operating expense reductions or synergies that have not been actually realized.

• The Borrower shall not permit the Total Leverage Ratio as of the last day of any four-quarter period to be greater than 4.00:1.00.

More Definitions of Total Leverage

Total Leverage at any date, the aggregate principal amount of all Funded Debt of the Borrower and its Restricted Subsidiaries at such date, minus cash, Cash Equivalents and Foreign Cash Equivalents held by the Borrower and its Restricted Subsidiaries on such date, in each case determined on a consolidated basis in accordance with GAAP.

Total Leverage means, with respect to any Company and its Subsidiaries for any period, the ratio of (a) all Indebtedness as of the end of such period, less the amount of Eligible Cash as of the end of such period to (b) LTM EBITDA for such period, in each case, determined on a pro forma basis for incurrence or refinancing of any applicable Unsecured Debt.

Total Leverage means, at any date, the sum of the (a) the aggregate amount of the Borrower’s Funded Debt outstanding on such date plus (b) the notional value of all total return swaps and other leveraged derivatives to which the Borrower is a party on such date, in each case calculated in accordance with generally accepted accounting principles.

Total Leverage total third party debt less cash and cash equivalents of Lion/Rally Lux 3 S.à x.x. and its subsidiaries, adjusted to reflect a normalised level of net working capital minus any principal amounts and accrued but unpaid interest outstanding under the Notes, divided by Operating Group EBITDA for the most recently completed period of 12 months, pro forma as if the Proposed Acquisition (as defined in Clause 11.1) had occurred on the first day of the 12 month period;

Total Leverage total third party debt less cash and cash equivalents of the Company and its subsidiaries, adjusted to reflect a normalised level of net working capital minus any principal amounts and accrued but unpaid interest outstanding under the Notes, divided by Operating Group EBITDA for the most recently completed period of 12 months, pro forma as if the Acquisition had occurred on the first day of the 12 month period;

Total Leverage shall have the meaning set out in Clause 21.1 (Financial definitions).

Total Leverage has the meaning given to that term in paragraph 2.1 (Financial definitions) of Schedule 9 (Covenants).