Applicable Total Leverage Ratio means, (a) as of the Closing Date, and thereafter through the last day of the Pricing Period in which the Closing Date occurs, the combined pro forma Total Leverage Ratio set forth in the Certificate of Borrower delivered pursuant to Section 8.1(a)(xvi), and (b), as of each subsequent date of determination, the Total Leverage Ratio in effect as of the last day of the Fiscal Quarter ending most recently prior to the first day of the related Pricing Period.

Applicable Total Leverage Ratio means, for any Test Period ending on the last day of a fiscal quarter of the Company set forth below, the applicable Total Leverage Ratio for such fiscal quarter set forth in the grid below: Fiscal Quarter Ended Applicable Total Leverage Ratio September 30, 2015 5.50 to 1.00 December 31, 2015 5.95 to 1.00 March 31, 2016 5.40 to 1.00 June 30, 2016 and thereafter 5.00 to 1.00

Applicable Total Leverage Ratio means, with respect to any Investment made pursuant to Section 7.03(k) or any Restricted Payment made pursuant to Section 7.06(d) , the Consolidated Total Leverage Ratio, determined at the time such Investment or Restricted Payment, as the case may be, is made based on the financial information received for the fiscal quarter most recently ended prior to such time for which financial statements have been delivered to the Administrative Agent pursuant to Section 4.01(h)(ii) , 7 of the Fifth Amendment, Section 6.01(a) or Section 6.01(b) , as applicable, and on a pro forma basis after giving effect 3to such Investment or Restricted Payment, as the case may be, and any Indebtedness incurred in connection therewith.

Examples of Applicable Total Leverage Ratio in a sentence

The Borrower is in compliance (circle yes or no) yes/no 3 Applicable Total Leverage Ratio to be inserted.

More Definitions of Applicable Total Leverage Ratio

Applicable Total Leverage Ratio means, with respect to any date of determination, the Total Leverage Ratio set forth in the Pricing Certificate (as defined below) in effect for the Pricing Period (as defined below) in which such date of determination occurs. For purposes of this definition, (i) "Pricing Certificate" means an Officer's Certificate of Company certifying as to the Total Leverage Ratio as of the last day of any Fiscal Quarter and setting forth the calculation of such Total Leverage Ratio in reasonable detail, which Officer's Certificate may be delivered to Administrative Agent at any time on or after the date of delivery by Company of the Compliance Certificate (the "Related Compliance Certificate") with respect to the period ending on the last day of such Fiscal Quarter pursuant to subsection 6.1(iv), and (ii) "Pricing Period" means each period commencing on the first Business Day after the delivery to Administrative Agent of a Pricing Certificate and ending on the first Business Day after the next Pricing Certificate is delivered to Administrative Agent; provided that, anything contained in this definition -------- to the contrary notwithstanding, (a) the Applicable Total Leverage Ratio for the period from the Effective Date to but excluding the date of commencement of the next Pricing Period shall be deemed to be greater than 5.50:1.00 for purposes of making the relevant calculation referred to above and (c) in the event that, after the commencement of such first Pricing Period, (X) Company fails to deliver a Pricing Certificate to Administrative Agent setting forth the Total Leverage Ratio as of the last day of any Fiscal Quarter on or before the last day on which Company is required to deliver the Related Compliance Certificate (such last day being the "Cutoff Date") and (Y) Administrative Agent determines (each such determination being an "Agent Determination") on or after the Cutoff Date (on the basis of the Related Compliance Certificate or a Pricing Certificate delivered after the Cutoff Date) that the Applicable Total Leverage Ratio that would have been in effect if Company had delivered a Pricing Certificate on the Cutoff Date is greater than the Total Leverage Ratio set forth in the most recent Pricing Certificate actually delivered by Company, then (1) the Applicable Total Leverage Ratio in effect for purposes of making the relevant calculation referred to above for the period from the Cutoff Date to the date of delivery by Company of the next Pricing Certificat...

Applicable Total Leverage Ratio means, with respect to any Investment made pursuant to Section 7.03(k) or any Restricted Payment made pursuant to Section 7.06(d), the Consolidated Total Leverage Ratio, determined at the time such Investment or Restricted Payment, as the case may be, is made based on the financial information received for the fiscal quarter most recently ended prior to such time for which financial statements have been delivered to the Administrative Agent pursuant to Section 4.01(h)(ii), 6.01(a) or 6.01(b), as applicable, and on a pro forma basis after giving effect to such Investment or Restricted Payment, as the case may be, and any Indebtedness incurred in connection therewith.

Applicable Total Leverage Ratio means, with respect to any Investment made pursuant to Section 7.03(k) or any Restricted Payment made pursuant to Section 7.06(d), the Consolidated Total Leverage Ratio, determined at the time such Investment or Restricted Payment, as the case may be, is made based on the financial information received for the fiscal quarter most recently ended prior to such time for which financial statements have been delivered to the Administrative Agent pursuant to Section 4.01(h)(ii),7 of the Fifth Amendment, Section 6.01(a) or Section 6.01(b), as applicable, and on a pro forma basis after giving effect to such Investment or Restricted Payment, as the case may be, and any Indebtedness incurred in connection therewith.

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