Leverage Ratios. Notwithstanding anything to the contrary contained herein, for purposes of calculating any leverage ratio herein in connection with the incurrence of any Indebtedness, (a) there shall be no netting of the cash proceeds proposed to be received in connection with the incurrence of such Indebtedness and (b) to the extent the Indebtedness to be incurred is revolving Indebtedness, such incurred revolving Indebtedness (or if applicable, the portion (and only such portion) of the increased commitments thereunder) shall be treated as fully drawn.
Leverage Ratios. (a) If no Unsecured Note Indebtedness is outstanding on the applicable date of determination, permit the Consolidated Leverage Ratio to be greater than 5.00 to 1.0 on the last day of any fiscal quarter.
Leverage Ratios. Consolidated Leverage Ratio
Leverage Ratios. (i) The Leverage Ratio shall at all times be less than 60%.
Leverage Ratios. The Borrower shall not permit (i) the ratio of (a) the aggregate principal amount of Funded Senior Debt outstanding at any time of the Borrower and its Subsidiaries to (b) EBITDA for the Test Period then most recently ended to exceed (A) 2.75:1.00 at any time on or prior to the last day of the fiscal year ending on or about December 31, 1999 and (B) 1.50:1.00 at any time thereafter; or (ii) the ratio of (a) the aggregate principal amount of Funded Debt outstanding at any time of the Borrower and its Subsidiaries to (b) EBITDA for the Test Period then most recently ended to exceed (A) 3.50:1.00 at any time on or prior to the last day of the fiscal year ending on or about December 31, 1999 and (B) 2.50:1.00 at any time thereafter.
Leverage Ratios. The Senior Leverage Ratio shall not be greater than 3.6:1.0 and the Total Leverage Ratio shall not be greater than 5.3:1.0, in each case (i) after giving pro forma effect to the incurrence of the Initial Term Loans and the Senior Subordinated Notes and (ii) based off pro forma Consolidated Adjusted EBITDA of Holdings and its Subsidiaries for the twelve month period ended at least 30 days prior to the Closing Date, giving effect to the Phase 1 Acquisitions. Each Lender, by delivering its signature page to this Agreement and funding a Loan on the Closing Date, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be approved by any Agent, Requisite Lenders or Lenders, as applicable on the Closing Date.
Leverage Ratios. Permit the ratio of (1) Funded Debt less Subordinated Debt to (2) Adjusted Consolidated Tangible Net Worth plus Subordinated Debt to exceed the following:
Leverage Ratios. (i) The Credit Parties will not permit at any time the Senior Leverage Ratio to be greater than 0.60 to 1:00.
Leverage Ratios. (a) Holdings will not permit the Secured Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 3.50 to 1.00; provided that the Secured Leverage Ratio may be increased up to (but not to exceed) 4.00:1.00 for any Fiscal Quarter ending after the Closing Date during which the Holdings or any of its Subsidiaries has consummated an acquisition or other Investment permitted hereunder in which the Purchase Price is $50,000,000 or more (a “Trigger Quarter”) and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Secured Leverage Ratio shall return to 3.50:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the occurrence of a Trigger Quarter (any such Trigger Quarter, an “Initial Trigger Quarter”), no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(a) unless and until the Secured Leverage Ratio is less than or equal to 3.50:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. For the purposes of calculating the financial covenant set forth in this clause (a), the Relief Fund shall be deemed not to be a ‘Subsidiary.’
Leverage Ratios. (I) Borrower shall not permit the Total Leverage Ratio, as determined as of each date set forth below, for the twelve-month period ending on such date, to be greater than the ratio set forth below opposite date: DATE MAXIMUM RATIO ---- ------------- August 31, 2000 4.00 to 1.00 November 30, 2000 4.00 to 1.00 February 28, 2001 4.00 to 1.00 May 31, 2001 3.40 to 1.00 August 31, 2001 3.40 to 1.00 November 30, 2001 3.40 to 1.00 February 28, 2002 3.20 to 1.00 May 31, 2002 3.20 to 1.00 August 31, 2002 3.00 to 1.00 November 30, 2002 2.80 to 1.00 February 28, 2003 2.80 to 1.00 May 31, 2003 2.60 to 1.00 August 31, 2003 2.60 to 1.00 November 30, 2003 2.60 to 1.00 February 29, 2004 and the last day of each fiscal quarter of Borrower ending thereafter 2.50 to 1.00
