Leverage Increase Period definition

Leverage Increase Period has the meaning specified in Section 7.11(a).

Leverage Increase Period shall have the meaning assigned to such term in Section 6.1.

Leverage Increase Period means the four fiscal quarters ended immediately following the consummation of a Qualified Acquisition.

Examples of Leverage Increase Period in a sentence

• Borrower shall not permit the ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 0.60:1.0, to be increased at the election of the Borrower a maximum of two times during the term of the Loans, provided that no Leverage Increase Period shall be consecutive, to 0.65 to 1.0 commencing on the date on which a Significant Acquisition occurs and continuing for the succeeding three full fiscal quarters thereafter.

• Borrower shall not permit the ratio of Total Indebtedness to Total Asset Value to exceed 0.60:1.0, to be increased at the election of the Borrower a maximum of two times during the term of the Loans, provided that no Leverage Increase Period (hereinafter defined) shall be consecutive, to 0.65 to 1.0 commencing on the date on which a Significant Acquisition occurs and continuing for the succeeding three full fiscal quarters thereafter (each a “Leverage Increase Period”).

• Borrower shall not permit the ratio of Unsecured Indebtedness to Unencumbered Asset Value to exceed 0.60:1.0, to be increased at the election of Borrower a maximum of two times during the term of the Loans, provided that no Leverage Increase Period shall be consecutive, to 0.65 to 1.0 commencing on the date on which a Significant Acquisition occurs and continuing for the succeeding three full fiscal quarters thereafter.

• The Borrower may terminate any Leverage Increase Period by a notice delivered to the Administrative Agent whereupon, on the last day of the fiscal quarter during which such notice was given and on the last day of each fiscal quarter thereafter until another Leverage Increase Period has commenced as provided in this Section, the maximum Leverage Ratio shall be 4.00 to 1.00.

• Borrower shall not permit the ratio of Total Indebtedness to Total Asset Value to exceed 0.60:1.0, to be increased at the election of Borrower a maximum of two times during the term of the Loans, provided that no Leverage Increase Period (hereinafter defined) shall be consecutive, to 0.65 to 1.0 commencing on the date on which a Significant Acquisition occurs and continuing for the succeeding three full fiscal quarters thereafter (each a “Leverage Increase Period”).

More Definitions of Leverage Increase Period

Leverage Increase Period has the meaning specified in Section 5.03.

Leverage Increase Period means the period commencing on the last day of the Covenant Relief Period and ending on the earlier of (i) the first Measurement Date following the date Hyatt has delivered a notice to the Administrative Agent electing to terminate the Leverage Increase Period (for the avoidance of doubt, the increased Leverage Ratio permitted under clause (ii) of Section 5.9(a) shall not apply for such Measurement Date) and (ii) the day following the second Measurement Date occurring after the Covenant Relief Period, which date shall not, in any event, be later than October 1, 2021.

Leverage Increase Period shall have the meaning set forth in Section 9.04.

Leverage Increase Period has the meaning set forth in Section 8.11(a). (b) The pricing grid in the definition of “Applicable Rate” in Section 1.01 of the Existing Credit Agreement is hereby amended to read as follows: Pricing Tier Consolidated Leverage Ratio Commitment Fee Letter of Credit Fee Eurocurrency Rate Loans Base Rate Loans 2 < 3.50 to 1.00 but >3.25 to 1.00 0.45% 2.75% 2.75% 1.75% 3 < 3.25 to 1.00 but > 3.00 to 1.00 0.40% 2.50% 2.50% 1.50% 4 < 3.00 to 1.00 but > 2.50 to 1.00 0.35% 2.25% 2.25% 1.25% 5 < 2.50 to 1.00 but > 2.00 to 1.00 0.35% 2.00% 2.00% 1.00% 6 < 2.00 to 1.00 but > 1.50 to 1.00 0.30% 1.75% 1.75% 0.75% 7 < 1.50 to 1.00 but > 1.00 to 1.00 0.25% 1.50% 1.50% 0.50% 8 < 1.00 to 1.00 0.20% 1.25% 1.25% 0.25%

Leverage Increase Period has the meaning specified in Section 7.07. “LIBOR” has the meaning specified in the definition of “Eurodollar Rate.” 15 CHAR1\1756574v5

Leverage Increase Period has the meaning specified in Section 7.11. “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page the Administrative Agent designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time). “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other administrative matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines in consultation with the Borrower). “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance 19 CHAR1\1593539v8

Leverage Increase Period has the meaning specified in Section 8.08(b). “LIBOR” has the meaning set forthspecified in the definition of “Eurodollar Base Rate.” above. “LIBOR Rate” has the meaning set forthspecified in the definition of “Eurodollar Base Rate.” above. “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page that the Administrative Agent (in its reasonable discretion) designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time in its reasonable discretion). “LIBOR Successor Rate” has the meaning specified in Section 3.073.03(c). “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definitions of Base Rate, Interest Period, Eurodollar Rate, Eurodollar Base Rate, timing and frequency of determining rates and making payments of interest, and other technical, administrative and/or operational matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible, or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines, in consultation with the Borrower, is reasonably necessary in connection with the administration of this Agreement). “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). “Liquidity” means, as of any date of determination: (a) the aggregate amount of unrestricted and unencumbered (other than by Liens in favor of the Collateral Agent) cash or cash equivalents (measured at fair market value) of the Parent Guarantor and its Subsidiaries; plus (b) the aggregate amount actu...