Covenant Leverage Ratio definition

Covenant Leverage Ratio is defined in Section 7.4(A) hereof.
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Covenant Leverage Ratio the ratio of Total Debt as of the last day of any period to Adjusted Annualized Operating Cash Flow for the period ending on such day.
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Covenant Leverage Ratio means, at any date, the ratio of (a) Consolidated Credit Facility Indebtedness as of such date to (b) Consolidated EBITDA for the Test Period most recently ended.
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Examples of Covenant Leverage Ratio in a sentence

  • With respect to any period during which any Permitted Acquisition, LSE Equity Acquisition or any sale, transfer or other disposition of any material assets outside the ordinary course of business occurs, for purposes of determining compliance with the financial covenants contained in Sections 6.12 and 6.13, the calculation of the Covenant Leverage Ratio and Interest Coverage Ratio with respect to such period shall be made on a Pro Forma Basis.

  • Except with the written consent of the Required Revolving Credit Lenders, permit the Financial Covenant Leverage Ratio as of the last day of any Test Period (commencing with the Test Period ending September 30, 2021) to be greater than (a) through and including the Test Period ending March 31, 2024, 3.50:1.00, (b) commencing with the Test Period ending June 30, 2024 and through and including the Test Period ending December 31, 2026, 5.25:1.00, and (c) thereafter, 4.75:1.00 (the “Financial Covenant”).

  • Permit the Covenant Leverage Ratio as of the last day of any quarter to be greater than the Applicable Ratio for such day.

  • Covenant: Leverage Ratio of not less than 7% tested quarterly Calculation: Leverage Ratio of for period ending .

  • Except with the written consent of the Required Revolving Credit Lenders, permit the Financial Covenant Leverage Ratio as of the last day of any Test Period (commencing with the Test Period ending September 30, 2021) to be greater than (a) through and including the Test Period ending December 31, 2025, 3.50:1.00, (b) commencing with the Test Period ending March 31, 2026 and through and including the Test Period ending December 31, 2026, 3.25:1.00, and (c) thereafter, 3.00:1.00 (the “Financial Covenant”).

  • Agent shall have received evidence that the Adjusted Covenant Leverage Ratio shall not exceed 4.00:1 as calculated as of the Funding Date.

  • Except with the written consent of the Required Revolving Credit Lenders, permit the Financial Covenant Leverage Ratio as of the last day of any Test Period (commencing with the Test Period ending September 30, 2021) to be greater than 2.753.00:1.00 (the “Financial Covenant”).

  • The parties hereto recognize that as of December 31, 1998 the Covenant Leverage Ratio of Borrowers did not meet the requirements of the Loan Agreement.

  • The Financial Covenant Leverage Ratio and Consolidated Interest Coverage Ratio shall each be calculated as of the last day of each fiscal quarter based upon (i) for Indebtedness, as of the last day of each such fiscal quarter and (ii) for EBITDA and Consolidated Interest Expense, the actual amount for the four-quarter period ending on such day.

  • Covenant: Leverage Ratio of not less than [__]% tested quarterly Calculation: Leverage Ratio of for period ending .


More Definitions of Covenant Leverage Ratio

Covenant Leverage Ratio means as of any date, the Total Leverage Ratio, provided that during the period from the Effective Date through the date that is 18 months thereafter, outstanding loans under the Tranche C Credit Agreement (to the extent permitted by Section 6.01(a)(i)(y) hereof) shall be excluded from Total Indebtedness.
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Covenant Leverage Ratio means as of any date, the ratio of (a) Total Indebtedness as of such date minus the lesser of (i) cash and cash equivalents (determined in accordance with GAAP) of the Borrower and the Subsidiaries, other than cash and cash equivalents not readily available for use by the Borrower and the Subsidiaries in their discretion (including customer-segregated cash and cash equivalents and cash and cash equivalents required by applicable law or regulatory requirement to be maintained as such by the Borrower or any Subsidiary), and (ii) $75,000,000, to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such date (or, if such date is not the last day of a fiscal quarter, ended on the last day of the fiscal quarter of the Borrower most-recently ended prior to such date); provided that during the period from the Effective Date through the date that is 18 months thereafter, outstanding loans under the Tranche C Credit Agreement (to the extent permitted by Section 6.01(a) (i)(y) hereof) shall be excluded from Total Indebtedness.
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Covenant Leverage Ratio means, as of the end of a fiscal quarter, the ratio of (i) Debt (exclusive of any Contingent Obligations) as of the end of such quarter to (ii) Covenant EBITDA.
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Related to Covenant Leverage Ratio

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Net Total Leverage Ratio means on any date, the ratio of (A) (i) the sum of, without duplication, (x) the aggregate principal amount of any Consolidated Debt consisting of Loan Obligations outstanding as of the last day of the Test Period most recently ended as of such date (other than Excluded Transaction Debt) and (y) the aggregate principal amount of any other Consolidated Debt of the Borrower and its Subsidiaries as of the last day of such Test Period (other than Excluded Transaction Debt) less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.