Combined Total Net Leverage Ratio definition
Combined Total Net Leverage Ratio means, with respect to the Borrowers as of any date, the ratio of (a) the sum of (i) Consolidated Total Net Debt of Charah and its Restricted Subsidiaries as of such date plus (ii) Consolidated Total Net Debt of Allied and its Restricted Subsidiaries as of such date to (b) Combined EBITDA for the last period of four consecutive fiscal quarters ending on or before such date for which financial statements have been delivered.
Combined Total Net Leverage Ratio means, with respect to the Borrowers and their respective Restricted Subsidiaries (or Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as applicable) as of any date, the ratio of (a) the sum of (i) Consolidated Total Net Debt of Charah and its Restricted Subsidiaries as of such date plus (ii) Consolidated Total Net Debt of Allied and its Restricted Subsidiaries as of such date (or, as applicable, Consolidated Total Net Debt of Parent Entity and its Restricted Subsidiaries or Combined Entity and its Restricted Subsidiaries, as the case may be, as of such date) to (b) Combined EBITDA for the last period of four consecutive fiscal quarters ending on or before such date for which financial statements have been delivered.
Combined Total Net Leverage Ratio means, with respect to any Person and any Test Period, subject to the definition of “Designated Revolving Commitments,” the ratio of (a) Combined Indebtedness of such Person as of the last day of the most recently ended Test Period to (b) Consolidated EBITDA of such Person for such Test Period.
Examples of Combined Total Net Leverage Ratio in a sentence
The Borrowers shall not permit TEP or any of its Subsidiaries to directly or indirectly create, incur or assume any Indebtedness for borrowed money unless immediately after giving effect to the incurrence thereof, the Combined Total Net Leverage Ratio of TEP is no greater than 5.75 to 1.00 (the “TEP Debt Ratio”), determined on a Pro Forma Basis as of the last day of the most recently ended Test Period.