Senior Leverage Ratio Sample Clauses
The Senior Leverage Ratio clause defines the maximum allowable ratio of a company's senior debt to a financial metric such as EBITDA. In practice, this clause sets a financial covenant that borrowers must comply with, often requiring them to maintain their senior leverage below a specified threshold throughout the term of a loan. By imposing this limit, the clause helps lenders manage credit risk by ensuring the borrower does not take on excessive senior debt, thereby protecting the lender’s position in the event of financial distress.
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Senior Leverage Ratio. The Senior Leverage Ratio during any period set forth below shall not exceed the ratio set forth below opposite such period: SENIOR PERIOD LEVERAGE RATIO ------ -------------- March 31, 2002-December 30, 2002 5.25:1.00 December 31, 2002-December 30, 2003 3.25:1.00 December 31, 2003 and thereafter 2.50:1.00
Senior Leverage Ratio. The Borrower shall not permit its Senior Leverage Ratio at any time to exceed 2.75 to 1.00.
Senior Leverage Ratio. The Borrower will not permit the Senior Leverage Ratio as of any date during any period set forth below to be in excess of the ratio set forth below opposite such period: Period Ratio December 29, 2002 through April 14, 2003 2.75 to 1.00 April 15, 2003 through July 12, 2003 3.00 to 1.00 July 13, 2003 through January 3, 2004 2.75 to 1.00 January 4, 2004 through July 17, 2004 2.50 to 1.00 July 18, 2004 and thereafter 2.00 to 1.00
Senior Leverage Ratio. Commencing with the Fiscal Quarter ending September 30, 2020, the Borrowers shall not, as of the last day of each Fiscal Quarter, permit the Senior Leverage Ratio to be greater than 1.00 to 1.00.
Senior Leverage Ratio. (i) In the event that the Securitization Entities incur, repay, repurchase or redeem any Senior Notes subsequent to the commencement of the period for which the Senior Leverage Ratio is being calculated but prior to the event for which the calculation of the Senior Leverage Ratio is made, then the Senior Leverage Ratio shall be calculated giving pro forma effect to such incurrence, repayment, repurchase or redemption of Senior Notes, as if the same had occurred at the beginning of the applicable preceding four Quarterly Fiscal Periods (including in the case of any incurrence or issuance, a pro forma application of the net proceeds therefrom); provided that the Manager may elect pursuant to an Officer’s Certificate delivered to the Trustee (with respect to which the Trustee shall have no obligation of any nature whatsoever) to treat all or any portion of the commitment under any Senior Notes as being incurred at such time, in which case any subsequent incurrence of Senior Notes under such commitment shall not be deemed, for purposes of this calculation, to be an incurrence at such subsequent time.
(ii) For purposes of making the computation of the Senior Leverage Ratio (including, without limitation, the calculation of Net Cash Flow used therein), any pro forma event shall, at the discretion of the Manager, be calculated on a pro forma basis assuming that all such investments, acquisitions, dispositions, refranchising transactions, mergers, amalgamations, consolidations, discontinued operations, operational changes, business realignment projects or initiatives, restructurings and reorganizations (and the change in Net Cash Flow resulting therefrom) had occurred on the first day of such preceding four Quarterly Fiscal Periods. If since the beginning of such period any Person that subsequently became a Securitization Entity since the beginning of such preceding four Quarterly Fiscal Periods shall have made any investment, acquisition, disposition, refranchising transaction, merger, amalgamation, consolidation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this Section 14.17, then the Senior Leverage Ratio shall, at the discretion of the Manager, be calculated giving pro forma effect thereto for such period as if such investment, acquisition, disposition, refranchising transacti...
Senior Leverage Ratio. Holdings and the Borrower will not permit the Senior Leverage Ratio as of the last day of a fiscal quarter set forth below to exceed the ratio set forth opposite such date: Fiscal Quarter Ended Ratio -------------------- ----- December 31, 2003 5.65 to 1.00 March 31, 2004 5.65 to 1.00 June 30, 2004 5.65 to 1.00 September 30, 2004 5.50 to 1.00 December 31, 2004 5.25 to 1.00 March 31, 2005 5.25 to 1.00 June 30, 2005 5.25 to 1.00 September 30, 2005 5.00 to 1.00 December 31, 2005 5.00 to 1.00 March 31, 2006 5.00 to 1.00 June 30, 2006 4.75 to 1.00 September 30, 2006 4.75 to 1.00 December 31, 2006 4.50 to 1.00 March 31, 2007 4.50 to 1.00 June 30, 2007 4.25 to 1.00 September 30, 2007 4.25 to 1.00 December 31, 2007 4.00 to 1.00 March 31, 2008 4.00 to 1.00 June 30, 2008 4.00 to 1.00 September 30, 2008 4.00 to 1.00 December 31, 2008 3.75 to 1.00 March 31, 2009 3.75 to 1.00 June 30, 2009 3.75 to 1.00 September 30, 2009 3.75 to 1.00 December 31, 2009 3.50 to 1.00
Senior Leverage Ratio. The Senior Leverage Ratio, as of the end of each fiscal quarter, shall be less than or equal to:
(i) From the Effective Date to and including May 31, 1998, 3.25 to 1.0;
(ii) From June 1, 1998 to and including August 31, 1998, 3.0 to 1.0; and
(iii) From September 1, 1998 and thereafter, 2.50 to 1.0.
Senior Leverage Ratio. Permit the Senior Leverage Ratio as of the end of any fiscal quarter to be greater than 2.50 to 1.0.
Senior Leverage Ratio. As of the close of business on any day on and after the Closing Date, the Senior Leverage Ratio at such date will not be greater than the ratio set forth below opposite the period during which such date occurs: Closing Date through March 31, 2004 3.25 to 1.0 April 1, 2004 through June 30, 2004 3.25 to 1.0 July 1, 2004 through September 30, 2004 3.25 to 1.0 October 1, 2004 through December 31, 2004 3.00 to 1.0 January 1, 2005 through March 31, 2005 3.00 to 1.0 April 1, 2005 through June 30, 2005 2.75 to 1.0 July 1, 2005 through September 30, 2005 2.75 to 1.0 October 1, 2005 through December 31, 2005 2.50 to 1.0 January 1, 2006 through March 31, 2006 2.50 to 1.0 April 1, 2006 through June 30, 2006 2.25 to 1.0 July 1, 2006 through September 30, 2006 2.25 to 1.0 October 1, 2006 and thereafter 2.00 to 1.0
Senior Leverage Ratio. Holdings shall not permit the Senior Leverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending March 31, 2007, to exceed the correlative ratio indicated: March 31, 2007 3.75:1.00 June 30, 2007 3.75:1.00 September 30, 2007 3.50:1.00 December 31, 2007 3.50:1.00 March 31, 2008 3.25:1.00 June 30, 2008 3.00:1.00 September 30, 2008 2.75:1.00 December 31, 2008 2.75:1.00 March 31, 2009 2.50:1.00 June 30, 2009 2.50:1.00 September 30, 2009 2.25:1.00 December 31, 2009 2.25:1.00 March 31, 2010 2.00:1.00 June 30, 2010 2.00:1.00 September 30, 2010 2.00:1.00 December 31, 2010 2.00:1.00 Thereafter 2.00:1.00