Maximum Leverage. Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.
Maximum Leverage. No Borrower shall, as the last day of each calendar month, permit the ratio of such Borrower’s Debt to its Total Eligible Asset Value to exceed 0.10 to 1.0. For purposes of this Section 7.20, (i) any obligation of such Borrower pursuant to any repurchase investment issued by the Borrower in connection with any tender offer shall be excluded from the calculation of Debt; (ii) the principal amount of Debt in respect of any Hedging Liability shall equal the amount that would be payable (giving effect to netting) at such time if the given hedge arrangement were terminated; and (iii) any Hedging Liability of such Borrower in respect of any yen share class hedging arrangement shall be excluded from the calculation of Debt.
Maximum Leverage. The Borrower shall not permit the ratio of Consolidated Total Liabilities to Total Asset Value as of the end of any fiscal quarter of Borrower to exceed 0.55:1.
Maximum Leverage. Borrower shall demonstrate to the satisfaction of Agent that, assuming the Merger Portion had been disbursed and the Paging Partners Merger had been consummated on the last day of the second month prior to the month in which the Funding Date of the Merger Portion is to occur, (i) the Senior Leverage Ratio as of such last day would not exceed 4.0 and (ii) the Total Leverage Ratio as of such last day would not exceed 5.0.