Consolidated First Lien Net Leverage Ratio definition
Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.
Consolidated First Lien Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Net Debt (other than any portion of Consolidated Net Debt that is unsecured or is secured solely by a Lien that is expressly subordinated to the Liens securing the Obligations) as of such date to (b) Consolidated EBITDA for the most recent Test Period.
Consolidated First Lien Net Leverage Ratio. “Consolidated Secured Net Leverage Ratio”, “Consolidated Total Net Leverage Ratio”, “Consolidated Interest Coverage Ratio” or, in each case, in the component definitions thereof shall not constitute a reduction or forgiveness in any rate of interest);
Examples of Consolidated First Lien Net Leverage Ratio in a sentence
Permit the Consolidated First Lien Net Leverage Ratio as of the last day of any Test Period, beginning with the Test Period ending September 30, 2025, to be greater than 9.00 to 1.00 (the “Financial Covenant”).
More Definitions of Consolidated First Lien Net Leverage Ratio
Consolidated First Lien Net Leverage Ratio under the Nexstar Credit Agreement or in the component definitions thereof shall not constitute a reduction in any rate of interest and (C) only the consent of the Majority Lenders shall be necessary to amend the definition of the “Default Rate” or to waive or postpone any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate;
Consolidated First Lien Net Leverage Ratio has the meaning set forth in the Nexstar Credit Agreement.
Consolidated First Lien Net Leverage Ratio. “Consolidated Total Net Leverage Ratio,” “Consolidated Senior Secured Net Leverage Ratio,” “Consolidated Funded Indebtedness,” “Consolidated Funded First Lien Indebtedness,” “Consolidated Funded Senior Secured Indebtedness,” “Consolidated EBITDA,” “Fixed Charges,” “Fixed Charge Coverage Ratio,” “Fourth Quarter Consolidated EBITDA” and “Indebtedness,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent from time to time; provided that the Borrower may elect to remove any term from constituting a Fixed GAAP Term.
Consolidated First Lien Net Leverage Ratio for the purposes of Section 7.11), in each case, without the written consent of the Required Facility Lenders under such applicable Revolving Credit Facility or Facilities (and in the case of multiple Facilities which are affected, with respect to any such Facility, such consent shall be effected by the Required Facility Lenders of such Facility); provided, however, that the waivers described in this clause (g) shall not require the consent of any Lenders other than the Required Facility Lenders under such Facility or Facilities;
Consolidated First Lien Net Leverage Ratio means, as of any date of determination, the ratio of (a) the sum, without duplication, of (i) Consolidated Secured Debt that is secured by a Lien on the Collateral that is pari passu with the Liens securing the Obligations and (ii) Consolidated Secured Debt of the type described in clause (ii) of the definition thereof, in each case as of such date of determination to (b) Consolidated EBITDA for the most recent four fiscal quarter period for which financial statements described in Section 9.1(a) or (b) are available.
Consolidated First Lien Net Leverage Ratio means, as of the last day of any fiscal quarter, the ratio of (a) Consolidated First Lien Net Debt to (b) Consolidated EBITDA for the four consecutive fiscal quarters of the Borrower ended on such date.
Consolidated First Lien Net Leverage Ratio or any other financial term or ratio used in the calculation of any such payment (including any component definition thereof) and/or (z) the MFN Provision with respect to any Class shall in any case constitute a forgiveness of principal amount or extension of the final scheduled date of maturity of any Loan, or the scheduled date of any amortization payment in respect of any Loan, a reduction of any rate of any interest or fee payable hereunder, or any such extension of payment or increase or extension of any Commitment); (ii) eliminate or reduce the voting rights of any Lender under this Section 10.1 without the written consent of such Lender; (iii)(A) reduce any percentage specified in the definition of (x) “Required Lenders” without the written consent of each Lender, (y) “Required Revolving Lenders” without the written consent of each Revolving Lender (it being understood that neither the consent of the Required Lenders nor the consent of any other Lender shall be required in connection with any change to the definition of “Required Revolving Lenders”) or (z) “Majority Facility Lenders” without the written consent of each Lender of the applicable Class or Facility (it being understood that neither the consent of the Required Lenders nor the consent of any other Lender shall be required in connection with any such change to the definition of “Majority Facility Lenders”) or (B) change any other provision of this Agreement or any other Loan Document specifying the number or percentage of Lenders (or Lenders of any Facility) required to waive, amend or otherwise modify any rights thereunder or make any determination or grant any consent thereunder without the written consent of each Lender (or each Lender of the applicable Class or Facility, as applicable (it being understood that, in such case, neither the consent of the Required Lenders nor the consent of any other Lender shall be required in connection with any such change)); (iv) consent to the assignment or transfer by any Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release all or substantially all of the Subsidiary Guarantors from their obligations under the Guarantee and Collateral Agreement, in each case without the written consent of all Lenders; (v) amend, modify or waive any provision of Section