Funded Leverage Ratio definition

Funded Leverage Ratio means, as of the end of any fiscal quarter, the ratio (expressed as a percentage) of (a) all Funded Debt, minus the aggregate amount of any Funded Debt incurred as the direct result of Forward Sale Contracts relating to securities held in the Investment Portfolio, as long as such Funded Debt is fully secured by Marketable Securities, to (b) the sum of (i) all Funded Debt plus (ii) the consolidated Net Worth of the Parent, each as of the last day of such fiscal quarter.

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Funded Leverage Ratio means, as of any date of determination, the ratio of (a) Funded Debt on such date to (b) Consolidated EBITDA for the most recently ended period of four consecutive fiscal quarters of the Company.

Funded Leverage Ratio means, on any date, the ratio of (a) Funded Indebtedness on such date to (b) EBITDA for the period of four consecutive fiscal quarters ended on or most recently prior to such date; provided that solely for purposes of Section 6.12, to the extent the Borrower or any Subsidiary makes any acquisition permitted pursuant to Section 6.04 or disposition of assets outside the ordinary course of business that is permitted by Section 6.05 during the period of four fiscal quarters of the Borrower most recently ended, the Funded Leverage Ratio shall be calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are directly attributable to the acquisition or the disposition of assets, are factually supportable and are expected to have a continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation S-X of the Securities Act of 1933, as amended, as interpreted by the SEC, and as certified by a Financial Officer), as if such acquisition or such disposition (and any related incurrence, repayment or assumption of Indebtedness) had occurred in the first day of such four quarter period.

Examples of Funded Leverage Ratio in a sentence

• The Parent shall not permit the Funded Leverage Ratio, at the end of each fiscal quarter of the Parent, to be greater than 50%.

• Notwithstanding the prior sentence, any violation of the Funded Leverage Ratio shall constitute an Event of Default under Article VII, which may or may not be waived by Lender in its sole and absolute discretion.

• The Parent shall not permit the Funded Leverage Ratio, at the end of each fiscal quarter of the Parent commencing with the fiscal quarter ending March 31, 2009, to be greater than 50%.

• The Borrower will not permit the Funded Leverage Ratio determined on the last day of any fiscal quarter ending during any period to be greater than 2.5 to 1.0. In the event that the Funded Leverage Ratio is greater than 2.5 to 1.0 but less than 3.5 to 1.0 for any fiscal quarter (but not consecutive fiscal quarters), then Lender shall not implement the default rate of interest set forth in Section 2.11(c) so long as no other Event of Default then exists.

• A Consolidated Funded Leverage Ratio (i) as of March 31, 2001 for the three-month period then ended shall not be more than 4.25 to 1.00 and (ii) as of June 30, 2001 for the six-month period then ended, as of September 30, 2001 for the nine-month period then ended and thereafter as of the last day of each calendar quarter for the twelve-month period then ended shall not be more than 4.0 to 1.00.

• A Net Funded Leverage Ratio on the last day of each fiscal quarter for the applicable Measurement Period then ending shall not be more than the 4.20:1.00.

• The Borrower will not permit the Funded Leverage Ratio determined on the last day of any fiscal quarter ending during any period to be greater than 2.5 to In the event that the Funded Leverage Ratio is greater than 2.5 to 1.0 but less than 3.5 to 1.0 for any fiscal quarter (but not consecutive fiscal quarters), then Lender shall not implement the default rate of interest set forth in Section 2.11(c) so long as no other Event of Default then exists.

• The Borrower shall not permit the Funded Leverage Ratio, at the end of each fiscal quarter of the Borrower, to be greater than 35%.

• The Borrower will not permit the Consolidated Funded Leverage Ratio as of the last day of a Test Period (commencing with the Test Period ending June 30, 2014) to exceed 3.75 to 1.00.

• The Borrower will not permit, as of the last day of each fiscal quarter, beginning with the fiscal quarter ending December 31, 2021, the Net Funded Leverage Ratio to exceed 3.253.50 to 1.00.

More Definitions of Funded Leverage Ratio

Funded Leverage Ratio means, as with respect to any Person and for any period and at any date of determination thereof, the ratio of: (a) Funded Indebtedness outstanding as at such date of determination; to (b) EBITDA for the Measurement Period ending on, or most recently ended prior to, such date of determination.