Average Net Leverage Ratio definition
Average Net Leverage Ratio means, as of the last day of any Computation Period, the ratio of (a) the remainder of (i) Average Funded Debt as of such day minus (ii) Average Unrestricted Cash as of such day to (b) EBITDA for such Computation Period.
Examples of Average Net Leverage Ratio in a sentence
For purposes of this Section 8.08, the “Pro Forma Average Leverage Ratio” and the “Pro Forma Average Net Leverage Ratio” shall mean the Average Leverage Ratio and the Average Net Leverage Ratio, respectively, as of the last day of the most recently-ended Computation Period for which financial statements are available, in each case adjusted by adding back to Average Funded Debt in the calculation of the applicable ratio all Restricted Payments made since the last day of such Computation Period.