Debt Multiple definition

Debt Multiple means, as of a given date, the ratio of total debt other than non-recourse debt (determined in accordance with GAAP) to EBITDA for the most recent twelve (12) months (except that for calculations on or prior to ▇▇▇▇▇ ▇▇, ▇▇▇▇, ▇▇▇▇▇▇ shall be annualized based upon results from July 1, 2002 through such date).
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Examples of Debt Multiple in a sentence

  • Upon the request of Agent, Borrower must demonstrate to the reasonable satisfaction of the Required Lenders the required Senior Debt Multiple in order to obtain an adjustment to a lower Applicable Eurodollar Margin.

  • The Applicable Eurodollar Margin is subject to adjustment (upwards or downwards, as appropriate) based on the Senior Debt Multiple.

  • After each adjustment of the Applicable Eurodollar Margin in accordance herewith due to a change in the Senior Debt Multiple as demonstrated by the Compliance Certificate, the new Applicable Eurodollar Margin shall apply to all Eurodollar Advances made or outstanding thereafter until the next Adjustment Date as of which the Compliance Certificate demonstrates a change in the Senior Debt Multiple to a level for which another Applicable Eurodollar Margin shall apply.