Maximum Total Debt Leverage Ratio. Borrower shall not permit the Maximum Total Debt Leverage Ratio to be more than (a) as of the fiscal quarter ending September 30, 2012, 4.50 to 1.00, (b) as of each fiscal quarter ending during the period from and including December 31, 2012 through and including March 31, 2014, 4.00 to 1.00, and (c) for each fiscal quarter ending thereafter, 3.75 to 1.00.
Maximum Total Debt Leverage Ratio. As of the last day of the calendar quarter ending during any of the periods set forth below, CapStar and the Borrower shall not permit the ratio of Consolidated Total Indebtedness to Consolidated EBITDA to exceed the correlative ratio indicated for the periods set forth below (Consolidated Total Indebtedness to be determined as of such last day, Consolidated EBITDA to be determined with reference to the preceding 12-month period ending on such day): MAXIMUM LEVERAGE PERIOD RATIO Closing Date to but excluding 4.75 to 1.00 first Anniversary first Anniversary to but excluding 4.50 to 1.00 second Anniversary second Anniversary to but 4.25 to 1.00 excluding third Anniversary if applicable, third Anniversary 4.00 to 1.00 to but excluding fourth Anniversary if applicable, fourth Anniversary 3.75 to 1.00 to but excluding fifth Anniversary
Maximum Total Debt Leverage Ratio. Borrower shall not permit the Maximum Total Debt Leverage Ratio to be more than:
Maximum Total Debt Leverage Ratio. Lessee shall maintain on (A) a quarterly basis and (B) each funding under a Schedule, a Total Debt Leverage Ratio of not more than (i) 5.00 to 1.00 during fiscal year ending December 31, 2004 and (ii) 4.75 to 1.00 during fiscal years ending December 31, 2005 and December 31, 2006. With respect to clause (B) of this section, Lessee agrees to provide Lessor with evidence (including, without limitation, any certificate, report or other information reasonably requested by Lessor) of compliance with such covenant through the earlier of the most recent fiscal month (x) for which Lessee has completed its monthly financial statements, or (y) which ended at least 30 days prior to the funding date; provided, that, if the most recent fiscal month is the last month in a fiscal quarter, and the financial information described above is delivered or certified prior to Lessee’s completion of its financial statements for such fiscal quarter, then the information is subject to reasonable and customary quarter-end adjustments. Failure to comply with this covenant shall not constitute a default under this Agreement; but shall terminate Lessee’s ability to request fundings under new Schedules after the date of such non-compliance until such time as Lessor shall notify Lessee that Lessee again has the ability to request fundings under new Schedules, provided that if such notice shall not have been given within 90 days after the date of such non-compliance, then Lessee’s ability to request fundings under new Schedules shall terminate indefinitely.
Maximum Total Debt Leverage Ratio. The pro forma financial statements delivered pursuant to Section 3.1(j) shall demonstrate in form and substance reasonably satisfactory to Administrative Agent that on the Initial Closing Date and immediately after giving effect to the transactions contemplated by the Related Agreements and any Credit Extensions to be made on the Initial Closing Date and on the Second Closing Date, the ratio of (i) Consolidated Total Indebtedness as of the Initial Closing Date to (ii) pro forma Consolidated Adjusted EBITDA for the twelve-month period ending March 31, 2006 shall not be greater than 6.40 to 1.00.
Maximum Total Debt Leverage Ratio. Company shall not permit the Total Debt Leverage Ratio during any period set forth below to exceed the correlative ratio indicated: PERIOD TOTAL DEBT LEVERAGE RATIO ------ ------------------------- Effective Date through Feb. 27, 2002 4.50:1.00 Feb. 28, 2002 through Aug. 30, 2002 4.25:1.00 Aug. 31, 2002 through Dec. 30, 2002 4.15:1.00 Dec. 31, 2002 through June 29, 2003 4.00:1.00 June 30, 2003 through Dec. 30, 2003 3.75:1.00 Dec. 31, 2003 and thereafter 3.50:1.00
