Examples of Covenant Adjustment Period in a sentence
On a consolidated basis, maintain a Consolidated Fixed Charge Coverage Ratio (calculated on a one fiscal quarter basis) as of the first Measurement Date occurring during the Covenant Adjustment Period (the “Fixed Charge Coverage Ratio Measurement Date”) of no less than 1.25 to 1.00.
Without the written consent of the Majority Facility Lenders under the Revolving Facility, permit the Consolidated Total Net Leverage Ratio, calculated as of the last day of any period of four (4) consecutive fiscal quarters of the Borrower to exceed 4.00 to 1.00; provided that, during any Financial Covenant Adjustment Period, the Consolidated Total Net Leverage Ratio may be no greater than 5.00 to 1.00.
Without the written consent of the Majority Facility Lenders under the Revolving Facility, permit the Consolidated Total Net Leverage Ratio, calculated as of the last day of any period of four (4) consecutive fiscal quarters of the Borrower to exceed 4.00 to 1.00; provided that, during any Financial Covenant Adjustment Period, the Consolidated Total Net Leverage Ratio may be no greater than 4.50 to 1.00.
As used in the foregoing clause (e), “Applicable Restricted Payment Ratio Level” means a ratio equal to 3.00(x) during the Covenant Adjustment Period, 3.25 to 1.00 and (y) following the Covenant Adjustment Period, 3.50 to 1.00.
The Borrower will not permit Liquidity to be less than $75,000,000 at any time during the Covenant Adjustment Period.