Ratio of Consolidated Debt to Total Capitalization. A. Consolidated Debt of the Borrower and its Consolidated Subsidiaries at Statement Date: $
Ratio of Consolidated Debt to Total Capitalization. Permit the ratio of Consolidated Debt to Total Capitalization at any time to be greater than 0.65 to 1.00.
Ratio of Consolidated Debt to Total Capitalization. Permit the ratio of Consolidated Debt to Total Capitalization at any time to be greater than 0.65 to 1.00; provided, however, that if in connection with a Specified Acquisition, (i) Consolidated Debt has increased as a result of such Specified Acquisition from the amount thereof immediately prior to such Specified Acquisition and (ii) the Administrative Agent has received a Specified Acquisition Notice within ten days after consummation of such Specified Acquisition, then, for a period of 180 consecutive days following the consummation of such Specified Acquisition, the additional Consolidated Debt incurred or assumed in connection with such Specified Acquisition shall be excluded from Consolidated Debt for purposes of calculating the ratio of Consolidated Debt to Total Capitalization so long as such ratio, if calculated without such exclusion, would not exceed 0.75 to 1.00; provided further however, that such additional Consolidated Debt shall not be excluded from such ratio if in connection with the related Specified Acquisition, the Borrower’s Debt Rating is suspended, withdrawn or reduced to below the Reference Level. For purposes of calculating the ratio of Consolidated Debt to Total Capitalization, Consolidated Debt shall exclude Hybrid Securities to the extent such excluded amount does not exceed 15% of Total Capitalization at such time. For purposes of this Section 7.06:
Ratio of Consolidated Debt to Total Capitalization. The Company covenants that it shall not permit Consolidated Debt to Total Capitalization to exceed, at any time, 40%. In calculating Consolidated Debt for purposes of this covenant only, the Company will be allowed to deduct from Consolidated Debt an amount equal to the Company's cash and marketable securities on the date of determination up to, and to the extent of, such Consolidated Debt as may be prepaid by the Company at such time without penalty or premium provided, -------- however, that if such Consolidated Debt were so prepaid, (a) such prepayment would not conflict with, or result in a breach of the terms, conditions or provisions of, or constitute a default under, or create any obligation under, any instrument evidencing Debt of the Company or its Subsidiaries or any other agreement of the Company or its Subsidiaries and (b) no Default or Event of Default would exist or result therefrom.
