Core Leverage Ratio definition

Core Leverage Ratio means the ratio of (a) Total Funded Debt of the Core Ameresco Companies to (b) EBITDA of the Core Ameresco Companies for the period of four consecutive fiscal quarters most recently ended.

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Core Leverage Ratio means the ratio of (i) Total Funded Debt of the Core Ameresco Companies to (ii) EBITDA of the Core Ameresco Companies for the period of four consecutive fiscal quarters most recently ended. “Covered Entity” means any of the following: (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). “Credit Extension” means a Borrowing. “Credit Party” has the meaning specified in Section 11.18(a). “Daily Simple SOFR” with respect to any applicable determination date means the SOFR published on such date on the Federal Reserve Bank of New York’s website (or any successor source). “Debt Service” means, for the period of four consecutive quarters most recently ended, the sum, for the Core Ameresco Companies (determined on a consolidated basis in accordance with GAAP) of (i) all regularly scheduled principal payments, as such amounts may be adjusted from time to time by reason of any prepayments, of Indebtedness (including the principal component of any payments in respect of Financing Lease Obligations), but excluding (A) any prepayments pursuant to Section 2.05 made during such period, (B) any principal payments in respect of the Revolving Loans (as defined in the First Lien

Core Leverage Ratio means, as at any date, the ratio of:

Examples of Core Leverage Ratio in a sentence

• The Loan Parties shall not permit the Core Leverage Ratio as of the end of each fiscal quarter to exceed 4.00 to 1.00.

• The Loan Parties shall not permit the Core Leverage Ratio as of the end of each fiscal quarter to exceed 3.50 to 1.00.

• The Loan Parties shall not permit the Core Leverage Ratio as of the end of each fiscal quarter (i) ending on March 31, 2022, to exceed 4.50 to 1.00, (ii) ending on June 30, 2022, to exceed 4.25 to 1.00, (iii) ending on September 30, 2022 or December 31, 2022, to exceed 4.00 to 1.00, and (iv) for any quarter ending thereafter, to exceed 3.50 to 1.00.

• The Loan Parties shall not permit the Core Leverage Ratio as of the end of each fiscal quarter to exceed 2.00 to 1.00.

• Each Bank Subsidiary shall maintain a minimum Tier 1 Core Leverage Ratio of 7.00%, to be measured quarterly.

• The Loan Parties shall not permit the Core Leverage Ratio (i) as of the end of each fiscal quarter ending on or before June 30, 2016, to exceed 2.00 to 1.00, (ii) as of the end of each fiscal quarter ending September 30, 2016, December 31, 2016, March 31, 2017 and June 30, 2017, to exceed 2.75 to 1.00, and (iii) as of the end of each fiscal quarter ending September 30, 2017 and thereafter, to exceed 2.00 to 1.00.

• As of the end of each Fiscal Quarter, the Borrower shall maintain a Tier 1 Core Leverage Ratio greater than 4.00%.

• As of the end of each Fiscal Quarter, each Bank Subsidiary shall maintain a Tier 1 Core Leverage Ratio greater than such percentage as is necessary to be “well capitalized”.

• Borrower shall maintain a minimum Tier 1 Core Leverage Ratio of 7.00%, to be measured quarterly.

• The Loan Parties shall not permit the Core Leverage Ratio as of the end of each fiscal quarter ending June 30, 2019, and thereafter to exceed 3.25 to 1.00.

More Definitions of Core Leverage Ratio

Core Leverage Ratio means the ratio of (i) Total Funded Debt of the Core Ameresco Companies to (ii) EBITDA of the Core Ameresco Companies for the period of four consecutive fiscal quarters most recently ended. “Covered Entity” means any of the following: (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. “Credit Party” has the meaning specified in Section 11.19(a). “Daily Simple SOFR” with respect to any applicable determination date means the SOFR published on such date on the Federal Reserve Bank of New York’s website (or any successor source). “Debt Service” means, for the period of four consecutive quarters most recently ended, the sum, for the Core Ameresco Companies (determined on a consolidated basis in accordance with GAAP) of (i) all regularly scheduled principal payments, as such amounts may be adjusted from time to time by reason of any prepayments, of Indebtedness (including the principal component of any payments in respect of Financing Lease Obligations), but excluding (A) any prepayments pursuant to Section 2.05 made during such period, (B) any principal payments in respect of the Revolving Loans made during such period, and (C) for purposes of the calculation in Section 7.10(b) the payment due on the Maturity Date of the Delayed Draw Term A Loan, plus (ii) all Consolidated Interest Charges paid in cash (excluding amortization of deferred financing costs and interest by its terms “paid-in-kind”) for such period, plus (iii) any “Federal ESPC Liabilities” (as set forth on the Borrower’s most recent consolidated balance sheet) related to an Energy Savings Performance Contract for an Energy Conservation Project, where such Core Ameresco Company is in default beyond any applicable grace or notice periods. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default” means any event or condition that constitutes...

Core Leverage Ratio. The following definition of “Core Leverage Ratio” shall be added to Appendix A to the Credit Agreement (or, to the extent already therein, shall be amended in its entirety to read as follows):

Core Leverage Ratio. The following definition of “Core Leverage Ratio” shall be added to the Definitions Annex to the Group Parent Guaranty (or, to the extent already therein, shall be amended in its entirety to read as follows):