Total Senior Secured Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt outstanding as of the last day of such Test Period that is secured by a Lien on any property of any Loan Party or any Restricted Subsidiary to (b) Consolidated EBITDA of the Borrower for such Test Period.
Total Senior Secured Leverage Ratio means, on any date, the ratio of (a) Total Senior Secured Indebtedness on such date to (b) Consolidated EBITDA for the most recently ended four fiscal quarter period of the Borrower for which financial statements have been delivered pursuant to Section 5.01(a) or Section 5.01(b).
Total Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt that is secured by a Lien on any assets or property of Holdings or any Restricted Subsidiary (or any payment obligation in respect of which is supported by any letter of credit, letter or guaranty or similar instrument in respect of which Holdings or any Restricted Subsidiary is an account party and which is secured by a Lien on any assets or property of Holdings or any Restricted Subsidiary), as of the last day of the Test Period most recently ended on or prior to the date of determination to (b) Consolidated EBITDA for such Test Period.
Examples of Total Senior Secured Leverage Ratio in a sentence
Each item of Indebtedness that is incurred or issued, each Lien incurred and each other transaction undertaken will be deemed to have been incurred, issued or taken first, to the extent available, pursuant to the relevant Interest Coverage Ratio, Consolidated First Lien Secured Leverage Ratio, Consolidated Total Senior Secured Leverage Ratio or Consolidated Total Leverage Ratio test.
The Borrower will not permit the Total Senior Secured Leverage Ratio on the last day of any Fiscal Quarter of the Borrower to be greater than 5.85:1.00.
Total Net Leverage Ratio and Total Senior Secured Leverage Ratio 100120 SECTION 6.11.
Notwithstanding anything to the contrary herein, the aggregate amount of the Incremental Loans shall not exceed (A) $75,000,000 plus (B) if the Total Senior Secured Leverage Ratio for the Test Period immediately preceding the incurrence of such Indebtedness for which financial statements are available is less than or equal to 3.75 to 1.00 (calculated on a Pro Forma Basis), $200,000,000 (the “Incremental Availability”).
More Definitions of Total Senior Secured Leverage Ratio
Total Senior Secured Leverage Ratio means, on any date of determination, the ratio of (x) Consolidated Net Senior Secured Indebtedness on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with clause (c) of the definition of "Pro Forma Basis" contained herein, provided that Consolidated EBITDA for the purposes of calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement shall not include any amount of dividends and distributions paid to the Borrower or any Restricted Subsidiary by any Unrestricted Subsidiary to the extent that such dividend or distribution derives from, or is otherwise attributable to, the proceeds of secured Indebtedness incurred after the Effective Date (including secured Indebtedness incurred as a result of the capitalization of interest otherwise scheduled for payment in cash after the Effective Date and, for the avoidance of doubt, excluding regularly scheduled interest paid in kind) by such Unrestricted Subsidiary, (ii) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to the definition of "RP/Investment Basket Amount" and Sections 9.06(c) and 9.06(k) only, Consolidated Net Senior Secured Indebtedness shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of "Pro Forma Basis" contained herein and (iii) if any Indebtedness or Lien is incurred in reliance on any provision measured by reference to the Total Senior Secured Leverage Ratio, then any cash received from the incurrence of such proposed Indebtedness or Lien shall not be netted in the calculation of the Total Senior Secured Leverage Ratio (but giving effect to any substantially concurrent prepayment of Indebtedness).
Total Senior Secured Leverage Ratio means, on any date of determination, the ratio of (x) Consolidated Net Senior Secured Indebtedness on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with clause (iii) of the definition of “Pro Forma Basis” contained herein and (ii) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to Sections 8.14, 9.03(vii), 9.03(viii), 9.03(xi), 9.04(xiv), 9.04(xvi), 9.05(xii), 9.05(xvii), 9.05(xviii), 9.05(xxii), 9.05(xxiii), 9.09(iv) and 9.11(c) only, Consolidated Senior Secured Indebtedness shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of “Pro Forma Basis” contained herein.
Total Senior Secured Leverage Ratio means, with respect to the Borrower Parties on a consolidated basis, as of the end of any fiscal quarter of the Borrower for the four (4) fiscal quarter period ending on such date, the ratio of (a) Consolidated Funded Senior Secured Indebtedness (net of unrestricted cash and Cash Equivalents on hand; provided that any cash and Cash Equivalents attributable to Foreign Subsidiaries shall be calculated net of any reasonably anticipated repatriation costs and expenses with domesticating such cash and Cash Equivalents from such Subsidiaries) of the Borrower Parties on the last day of such period to (b) Consolidated EBITDA of the Borrower Parties for such period.
Total Senior Secured Leverage Ratio means, with respect to the Borrower Parties on a consolidated basis, as of the end of any fiscal quarter of the Borrower for the four (4) fiscal quarter period ending on such date, the ratio of (a) Consolidated Funded Senior Secured Indebtedness (net of up to an aggregate maximum of $125,000,000 of (i) unrestricted cash and Cash Equivalents on hand and (ii) cash and Cash Equivalents restricted in favor of the Administrative Agent or any Lender; provided that any cash and Cash Equivalents attributable to Foreign Subsidiaries shall be calculated net of any reasonably anticipated repatriation costs and expenses with domesticating such cash and Cash Equivalents from such Subsidiaries) of the Borrower Parties on the last day of such period to (b) Consolidated EBITDA of the Borrower Parties for such period.
Total Senior Secured Leverage Ratio means, as of any date of determination, the ratio of
Total Senior Secured Leverage Ratio means, on any date of determination, the ratio of (x) Consolidated Net Senior Secured Indebtedness on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with clause (c) of the definition of "Pro Forma Basis" contained herein, provided that Consolidated EBITDA for the purposes of calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement shall not include any amount of dividends and distributions paid to the Borrower or any Restricted Subsidiary by any Unrestricted Subsidiary to the extent that such dividend or distribution derives from, or is otherwise attributable to, the proceeds of secured Indebtedness incurred after the Effective Date (including secured Indebtedness incurred as a result of the capitalization of interest otherwise scheduled for payment in cash after the Effective Date and, for the avoidance of doubt, excluding regularly scheduled interest paid in kind) by such Unrestricted Subsidiary, (ii) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to the definition of "RP/Investment Basket Amount" and Sections 9.06(c) and 9.06(k) only, Consolidated Net Senior Secured Indebtedness shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of "Pro Forma Basis" contained herein and (iii) if any Indebtedness or Lien is incurred in reliance on any provision measured by reference to the Total Senior Secured Leverage Ratio, then any cash received from the incurrence of such proposed Indebtedness or Lien shall not be netted in the calculation of the Total Senior Secured Leverage Ratio (but giving effect to any substantially concurrent prepayment of Indebtedness).
Total Senior Secured Leverage Ratio means, on any date of determination, the ratio of (x) Consolidated Net Senior Secured Indebtedness on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with clause (iii) of the definition of “Pro Forma Basis” contained herein, (ii) for purposes of any calculation of the Total Senior Secured Leverage Ratio pursuant to Sections 2.14, 8.14, 9.03(vii), 9.03(viii), 9.03(xi), 9.04(i), 9.05(xii), 9.05(xvii), 9.05(xviii), 9.05(xxii), 9.05(xxiii), 9.09(iv) and 9.11(c) only, Consolidated Net Senior Secured Indebtedness shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of “Pro Forma Basis” contained herein and (iii) if any Indebtedness or Lien is incurred in reliance on any provision measured by reference to the Total Senior Secured Leverage Ratio, then any cash received from the incurrence of such proposed Indebtedness or Lien shall not be netted in the calculation of the Total Senior Secured Leverage Ratio (but giving effect to any substantially concurrent prepayment of Indebtedness).