Consolidated Senior Net Leverage Ratio has the meaning specified in the Compliance Certificate.
Consolidated Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a)(i) Consolidated Senior Funded Indebtedness as of such date less (ii) unencumbered (other than by Liens permitted under clauses (a), (c) and (g) of Section 7.01) and unrestricted cash, cash equivalents, freely tradable and liquid short term-investments, and freely tradable and liquid long-term investments of Equinix and its Subsidiaries as of such date, to (b) Consolidated EBITDA for the Measurement Period ending on such date.
Consolidated Senior Net Leverage Ratio means, as of the last day of any fiscal quarter, the ratio of (a) Consolidated Senior Funded Debt as of such date minus 50% of the aggregate amount of the consolidated cash and consolidated Cash Equivalent Investments of the Company and the Subsidiaries as of such date in excess of $25,000,000 (up to a maximum reduction of $50,000,000 on account of such excess cash and Cash Equivalent Investments) to (b) Consolidated EBITDA for the Reference Period ended on such date.
Examples of Consolidated Senior Net Leverage Ratio in a sentence
The Company will not permit the Consolidated Senior Net Leverage Ratio as of the last day of any Reference Period to be greater than 3.00:1.00.
Deleting the definitions of “ Consolidated Senior Net Leverage Ratio ” and “ Consolidated Total Net Leverage Ratio ”.
Commencing September 30, 2025, and as of the last day of each calendar quarter thereafter, the Borrowers will not permit the Consolidated Senior Net Leverage Ratio to be greater than 3.00 to 1.00.
At all times following the date on which the aggregate outstanding amount of all Advances hereunder first exceeds $60,000,000 (including amounts outstanding under the Swing Line or Letter of Credit sublimits of the Revolving Credit) maintain a Consolidated Senior Net Leverage Ratio of not more than 3.00 to 1.00, tested as of the end of each fiscal quarter, for the twelve month period ending on such date.
More Definitions of Consolidated Senior Net Leverage Ratio
Consolidated Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Senior Funded Indebtedness as of such date, minus Unrestricted Cash of the Loan Parties as of such date in an amount not to exceed $20,000,000, to (b) Consolidated Adjusted EBITDA for the most recently completed Covenant Computation Period.
Consolidated Senior Net Leverage Ratio as at the last day of any period of twelve (12) consecutive months, the ratio of (a) the Consolidated Senior Indebtedness on such day minus up to $25,000,000 of Qualified Cash to (b) the Consolidated EBITDA for such period.
Consolidated Senior Net Leverage Ratio with respect to Holdings and its Consolidated Subsidiaries as at the last day of any period, the ratio of (a) Consolidated Funded Indebtedness on such day secured on a pari passu basis with the Obligations, minus all Unrestricted Cash on such day in an amount not to exceed $25,000,000, to (b) Consolidated Adjusted EBITDA for such period.
Consolidated Senior Net Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Senior Net Leverage at such date to (y) Consolidated EBITDA for the four most recent fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Parent are available, in each case, calculated with such pro forma and other adjustments as are set forth in the definition of “Consolidated Net Leverage Ratio”; provided that the pro forma calculation shall not give effect to (i) any other Senior Indebtedness Incurred or deemed Incurred on the determination date pursuant to Section 4.01(b) (other than clause (v) thereof) or (ii) the discharge on the determination date of any Senior Indebtedness, to the extent that such discharge results from the proceeds of Senior Indebtedness Incurred or deemed Incurred pursuant to Section 4.01(b) (other than clause (v) thereof).
Consolidated Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Senior Funded Indebtedness as of such date, minus Unrestricted Cash of the Loan Parties as of such date in an amount not to exceed $20,000,000, to (b) Consolidated Adjusted EBITDA for the most recently completed Covenant Computation Period. “Construction Budget” means, with respect to a Farm Project, a budget in form and substance reasonably satisfactory to the Lender (and, in the discretion of the Lender, after consultation with the Project Consultant), which may be revised from time to time by the Borrowers in accordance with the terms and conditions of this Agreement, and which sets forth all anticipated Project Costs, including, but not limited to, all construction and non-construction costs, all interest, fees and other carrying costs relating to such Farm Project, and all applicable contingency reserves. Each Construction Budget shall contain a statement of sources and uses of proceeds, broken down as to separate construction phases and components, including line item costs breakdowns for all costs by trade, job and subcontractor. “Construction Schedule” means, with respect to a Farm Project, a progress schedule in form and substance reasonably satisfactory to the Lender (and, in the discretion of the Lender, after consultation with the Project Consultant), showing the estimated commencement and completion dates for each material phase of such Farm Project, including the construction, equipping and completion of such Farm Project, and setting forth the estimated Final Completion Date with respect to such Farm Project, as such progress schedule may be revised from time to time by the Borrowers in accordance with the terms and conditions of this Agreement. “Continuing Directors” means, as of any date, (a) those members of the Governing Board of a Person who assumed office prior to such date, and (b) those members of the Governing Board of a Person who assumed office after such date and whose appointment or nomination for election by such Person’s
Consolidated Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) the result of (i) the Funded Debt of DDH (or DDH Holdings if applicable) and its Subsidiaries on a Consolidated Basis, but excluding any Subordinated Debt and any obligations under an operating lease, minus (ii) the Unrestricted Cash of DDH and the Credit Parties in excess of $1,000,000; provided that the amount of Unrestricted Cash included in the calculation pursuant to this clause (ii) shall not exceed $15,000,000 to (b) Consolidated EBITDA for the period of the four (4) Fiscal Quarters most recently ended.
Consolidated Senior Net Leverage Ratio and “Consolidated Total Net Leverage Ratio”.