Consolidated Borrower Leverage Ratio definition
Consolidated Borrower Leverage Ratio as at the last day of any four fiscal quarter period, the ratio of (a) the Consolidated Total Indebtedness (other than (i) any such Consolidated Total Indebtedness attributable to Holdings and any Subsidiary thereof that is not a Group Member and (ii) any unsecured high yield debt or unsecured convertible debt of the Group Members) on such day to (b) the Consolidated EBITDA (other than any such Consolidated EBITDA attributable to Holdings and any Subsidiary thereof that is not a Group Member) for such period. “Consolidated Capital Expenditures”: for any period, with respect to Holdings and its consolidated Subsidiaries, the aggregate of all expenditures (whether paid in cash or other consideration or accrued as a liability and including that portion of Capital Lease Obligations which is capitalized on the consolidated balance sheet of Holdings and its consolidated Subsidiaries) by such Person during such period for the acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during such period) that, in conformity with GAAP, are included in “additions to property, plant or equipment” or comparable items reflected in the consolidated statement of cash flows of Holdings and its consolidated Subsidiaries; provided that “Consolidated Capital Expenditures” shall not include (a) expenditures in respect of normal replacements and maintenance which are properly charged to current operations, (b) expenditures made in connection with the replacement, substitution or restoration of assets to the extent financed (i) from insurance proceeds paid on account of the loss of or damage to the assets being replaced or restored or (ii) with awards of compensation arising from the taking by eminent domain or condemnation of the assets being replaced, (c) expenditures made as a tenant as leasehold improvements during such period to the extent reimbursed by the landlord during such period, or (d) Permitted Acquisitions and other similar Investments permitted by Section 7.8. “Consolidated EBITDA”: with respect to Holdings and its consolidated Subsidiaries for any period, (a) Consolidated Net Income, plus (b) the sum, without duplication, of the amounts for such period but solely to the extent deducted in calculating Consolidated Net Income (other than as provided for in clause (xiv)), for such period of:
Consolidated Borrower Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness of the Borrower and its Restricted Subsidiaries as of such date to (b) Consolidated Operating Cash Flow of the Borrower and its Restricted Subsidiaries.
Consolidated Borrower Leverage Ratio as at the last day of any period of two consecutive fiscal quarters, the ratio of (a) Consolidated Borrower Total Debt on such day to (b) two times Consolidated Borrower EBITDA for such period.
Examples of Consolidated Borrower Leverage Ratio in a sentence
Permit the Consolidated Borrower Leverage Ratio at any time to be greater than 6.00 to 1.0.
The Consolidated Borrower Leverage Ratio as of December 31, 2006, calculated on a Pro Forma Basis giving effect to the Transaction, shall not exceed 5.25:1.