Gross Leverage Ratio definition

Gross Leverage Ratio. ’ means the total amount of outstanding Gross Financial Debt on a consolidated basis divided by “Adjusted EBITDA”. This measure offers to the reader a view about the capacity of the Group to generate enough resources to repay the Gross Financial Debt.

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Gross Leverage Ratio means the ratio, determined as of the end of each of the Company’s Fiscal Quarters, of (i) Consolidated Total Indebtedness to (ii) Consolidated EBITDAR for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter, all calculated for the Company and its Subsidiaries on a consolidated basis.

Gross Leverage Ratio means, in respect of any Relevant Period, the ratio of Total Debt on the last day of that Relevant Period to EBITDA in respect of that Relevant Period (for the purpose of Clause 23.15 (Dividends) only, in the case of the Ultimate Parent, the Total Debt and EBITDA shall be calculated on a consolidated basis of the Group).

Examples of Gross Leverage Ratio in a sentence

• In the event that any inaccuracy in the calculation of the First Lien Net Leverage Ratio or the First Lien Gross Leverage Ratio, as applicable, resulted in a shortfall in the amount of any required interest payment, no Default or Event of Default shall arise under this Agreement with respect thereto unless the relevant amount has not been paid in accordance with the preceding sentence within the period described in the preceding sentence.

• The Loan Parties shall not permit the Gross Leverage Ratio of the Company and its Subsidiaries, calculated at the end of each fiscal quarter, in each case for the four (4) consecutive fiscal quarters then ending, to exceed 3.50 to 1.00 (or 4.00 to 1.00 for testing periods occurring during an Acquisition Period).

• Until the Trigger Date, the Sponsor shall maintain the Gross Leverage Ratio to be less than 3.50:1 and shall calculate such ratio as at each Calculation Date and thereafter this Section 10.2(e) shall have no further application.

More Definitions of Gross Leverage Ratio

Gross Leverage Ratio has the meaning given to that term in Clause 22.1 (Financial definitions).

Gross Leverage Ratio means, as of any date of determination, a ratio of (i) Consolidated Funded Debt to (ii) Consolidated EBITDA for the four-quarter period then ended.

Gross Leverage Ratio means, as at any Calculation Date, the ratio of:

Gross Leverage Ratio means the ratio, determined as of the end of each of the Company’s Fiscal Quarters, of (i) Consolidated Total Indebtedness minus (a) any Pre-Funded Acquisition Debt until the date the relevant Material Acquisition is consummated, (b) Escrowed Debt, (c) Mandatory Redemption Debt, or (d) that portion of any Indebtedness that has been defeased or satisfied and discharged in accordance with the terms of such Indebtedness, to (ii) Consolidated EBITDAR for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter, all calculated for the Company and its Subsidiaries on a consolidated basis.

Gross Leverage Ratio. ’ means the total amount of outstanding Gross Financial Debt on a consolidated basis divided by “Adjusted EBITDA”. This measure offers to the reader a view about the

Gross Leverage Ratio. “New DB Lender” (d)The first sentence of Section 2.2 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

Gross Leverage Ratio means, at any date of determination, the ratio of Consolidated Total Debt (after giving effect to the application of the proceeds of an initial public offering by the Parent or the Borrower of its common Equity Interests) of the Parent and its Subsidiaries at such date to Adjusted EBITDA of the Parent and its Subsidiaries for the Measurement Period most recently completed on or prior to such date.