Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio at any time to be greater than 3.50 to 1.00.
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio for any period of four consecutive fiscal quarters of the Borrowers ending with the last day of any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Consolidated Adjusted Debt Ratio FQ3 2002 5.50:1.00 FQ4 2002 5.50:1.00 FQ1 2003 5.50:1.00 FQ2 2003 5.50:1.00 FQ3 2003 5.50:1.00 FQ4 2003 5.50:1.00 FQ1 2004 5.50:1.00 FQ2 2004 5.50:1.00 FQ3 2004 5.50:1.00 FQ4 2004 5.50:1.00 FQ1 2005 5.25:1.00 FQ2 2005 5.25:1.00 FQ3 2005 5.25:1.00 FQ4 2005 5.25:1.00 FQ1 2006 5.25:1.00 FQ2 2006 5.25:1.00 FQ3 2006 5.25:1.00 FQ4 2006 5.25:1.00 FQ1 2007 5.25:1.00 FQ2 2007 5.25:1.00 FQ3 2007 5.25:1.00 FQ4 2007 and thereafter 5.25:1.00 For purposes of determining the ratio described above (i) for the fiscal quarters of the Borrowers ending FQ3 2002 and FQ4 2002, (A) Consolidated EBITDAR for the relevant period shall be deemed to be equal to Consolidated EBITDAR for the trailing 12-month period ending on the last date of each such fiscal quarter and (B) the calculation of each of Consolidated EBITDAR and rent expense shall include operating performance of only that Real Estate that was owned and operated by Holdings or any of its Restricted Subsidiaries as of January 30, 2002 or acquired thereafter and (ii) for any fiscal quarters of the Borrowers, Consolidated Adjusted Debt shall be reduced by the amount of unencumbered cash held by Holdings and its Restricted Subsidiaries as of the end of such fiscal quarters.
Consolidated Adjusted Leverage Ratio. (a) Guarantor covenants and agrees with VRLP that at each Quarterly Measurement Date the Consolidated Adjusted Leverage Ratio will not exceed 8.00:1.00.
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio as of the last day of any period of four consecutive fiscal quarters of the Borrowers ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Consolidated Adjusted Leverage Ratio FQ1 2014 4.75 to 1.00 FQ2 2014 5.75 to 1.00 FQ3 2014 5.75 to 1.00 FQ4 2014 5.75 to 1.00 FQ1 2015 5.50 to 1.00 FQ2 2015 5.50 to 1.00 FQ3 2015 5.50 to 1.00 FQ4 2015 5.50 to 1.00 FQ1 2016 5.25 to 1.00 FQ2 2016 5.25 to 1.00 FQ3 2016 5.25 to 1.00 FQ4 2016 5.25 to 1.00 FQ1 2017 5.00 to 1.00 FQ2 2017 5.00 to 1.00 FQ3 2017 5.00 to 1.00 FQ4 2017 5.00 to 1.00 FQ1 2018 4.75 to 1.00 FQ2 2018 4.75 to 1.00 FQ3 2018 4.75 to 1.00 FQ4 2018 and thereafter 4.50 to 1.00
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio as of the last day of any fiscal quarter of the Borrower to be greater than 3.50 to 1.00.
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio for any period of four consecutive fiscal quarters of the Borrower ending on the last day of any fiscal quarter of the Borrower set forth below to be greater than the ratio corresponding to such fiscal quarter: Calendar Year March 31 June 30 September 30 December 31 2009 8.25 to 1.00 8.25 to 1.00 8.25 to 1.00 8.00 to 1.00 2010 8.00 to 1.00 8.00 to 1.00
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower (or, if less, the number of full fiscal quarters subsequent to the Closing Date) to exceed 9.00 to 1.00; provided, that for the purposes of determining the ratio described above for the fiscal quarters of the Borrower ending March 31, 2006, June 30, 2006 and September 30, 2006, Consolidated EBITDAR for the relevant period shall be deemed to equal Consolidated EBITDAR for such fiscal quarter (and, in the case of the later two such determinations, each previous fiscal quarter commencing after the Closing Date) multiplied by 4, 2 and 4/3, respectively.
Consolidated Adjusted Leverage Ratio. At each Quarterly Measurement Date from and after March 31, 2003, the Consolidated Adjusted Leverage Ratio will not exceed the ratio set forth below opposite such Quarterly Measurement Date (or any Quarterly Measurement Date which falls during the period set forth below): Period Ratio January 1, 2003 through June 30, 2003 5.40:1 July 1, 2003 through December 31, 2003 5.20:1 January 1, 2004 through June 30, 2004 5.15:1 July 1, 2004 through December 31, 2004 5.05:1 January 1, 2005 through March 31, 2005 5:00:1 April 1, 2005 through September 30, 2005 4.95:1 October 1, 2005 and thereafter 4.90:1
Consolidated Adjusted Leverage Ratio. At each Quarterly Measurement Date on or after the date hereof, the Consolidated Adjusted Leverage Ratio will not exceed the ratio set forth below opposite such Quarterly Measurement Date (or any Quarterly Measurement Date which falls during the periods set forth below): -------------------------------------------------- Period Ratio -------------------------------------------------- Closing Date through December 31, 2003 5.0:1 -------------------------------------------------- January 1, 2004 through December 31, 2004 4.9:1 -------------------------------------------------- January 1, 2005 and thereafter 4.8:1 --------------------------------------------------
Consolidated Adjusted Leverage Ratio. Permit the Consolidated Adjusted Leverage Ratio, (i) at any time prior to the Second Amendment Date, to be greater than 3.00:1.00, (ii) at any time from and after the Second Amendment Date and prior to August 1, 2009, to be greater than 4.00:1.00, and (iii) thereafter, to be greater than 3.50:1.00.
