Total Secured Leverage Ratio. The Borrower’s Consolidated Total Secured Indebtedness will not exceed forty percent (40%) of Consolidated Total Asset Value.
Total Secured Leverage Ratio. At any time when there is any outstanding Revolving Exposure (other than outstanding Letters of Credit that have been fully cash collateralized in accordance with Section 2.05(j)), FCX will not, without the approval of the Required Lenders, permit the Total Secured Leverage Ratio on the last day of any fiscal quarter to exceed 3.0 to 1.0.
Total Secured Leverage Ratio. The Borrower shall not permit the Total Secured Leverage Ratio as of the last day of any fiscal quarter of the Borrower ending after the Closing Date to be greater than 4.00:1.00 on a Pro Forma Basis; provided, however, the foregoing Total Secured Leverage Ratio requirement shall be tested only in the event that on the last day of any such fiscal quarter the aggregate amounts outstanding under the Revolving Facility (other than the amount of any Letters of Credit which have been cash collateralized) are in excess of $100,000,000 (with measurement to commence, if applicable, with the first full fiscal quarter after the Closing Date).
Total Secured Leverage Ratio. At any time when there is any outstanding Revolving Exposure (other than outstanding Letters of Credit that have been fully cash collateralized in accordance with Section 2.05(j)), the Borrower will not, without the approval of the Required Revolving Lenders, permit the Total Secured Leverage Ratio on the last day of any fiscal quarter to exceed 3.0 to 1.0.
Total Secured Leverage Ratio. The Company and the Restricted Subsidiaries shall not permit the Total Secured Leverage Ratio at any time to exceed 3.50:1.00.
Total Secured Leverage Ratio. The Total Secured Leverage Ratio, as of the last day of each Fiscal Quarter for each Test Period (commencing with the Test Period ending on September 30, 2022) to be greater than 6:00:1.00.exceed the ratio set forth below opposite such date: Fiscal Quarter End Date Maximum Total Secured Leverage Ratio September 30, 2022 6.00 to 1.00 December 31, 2022 6.00 to 1.00 March 31, 2023 6.50 to 1.00 June 30, 2023 6.50 to 1.00 September 30, 2023 6.50 to 1.00 December 31, 2023 6.50 to 1.00 March 31, 2024 and thereafter 6.00 to 1.00
Total Secured Leverage Ratio. (a) The Borrower will not at any time permit Consolidated Total Secured Indebtedness to exceed the percentage set forth below of Consolidated Total Asset Value for the period set forth below: Period Ending Percentage December 31, 2013 55% December 31, 2014 50% June 30, 2015 45% Thereafter 40%
Total Secured Leverage Ratio. Borrower shall not permit the Total Secured Leverage Ratio, as of the last day of any fiscal quarter ending on the date set forth in the table below, to exceed the ratio set forth opposite such period: Period Ending Total Secured Leverage Ratio June 30, 2017 3.10:1.00 September 30, 2017 2.70:1.00 December 31, 2017 2.45:1.00 March 31, 2018 2.35:1.00 June 30, 2018 2.20:1.00 September 30, 2018 2.00:1.00 December 31, 2018 2.00:1.00 March 31, 2019 2.00:1.00 June 30, 2019 1.90:1.00 September 30, 2019 and each quarter thereafter 1.80:1.00
Total Secured Leverage Ratio a. Actual: Total Secured Leverage Ratio1 $
Total Secured Leverage Ratio. Borrower shall not permit the Total Secured Leverage Ratio, as of the last day of any fiscal quarter ending on the date set forth in the table below, to exceed the ratio set forth opposite such period: Period Ending Total Secured Leverage Ratio June 30, 2017 3.10:1.00 September 30, 2017 2.70:1.00 December 31, 2017 2.45:1.00 March 31, 2018 2.35:1.00 June 30, 2018 2.20:1.00 September 30, 2018 2.00:1.00 December 31, 2018 2.00:1.00 March 31, 2019 2.00:1.00 June 30, 2019 1.90:1.00 September 30, 2019 and each 1.80:1.00 quarter thereafter (b) Cash Collateral Liquidity. Borrower shall maintain, at all times, Cash Collateral Liquidity in an amount of not less than (i) commencing on June 30, 2017 and continuing through September 30, 2017, $10,000,000, and (ii) commencing on October 1, 2017 and continuing through April 3, 2018, $15,000,000, and (iii) commencing April 4, 2018 and continuing thereafter, $18,000,000; provided, however, that in the event (A) the Secured Intercompany Note is repaid in full and no longer in full force and effect, (B) the Liens on the Excluded Property securing such Secured Intercompany Note are released in their entirety and (C) such Excluded Property becomes and is deemed a part of the Collateral, the Cash Collateral Liquidity required pursuant to this Section 6.17(b) shall be $15,000,000 at all times from and after April 4, 201815,000,000. (c)
