High Leverage Period definition

High Leverage Period means any fiscal quarter for which the Leverage Ratio as of the end date of such quarter (1) exceeds 2.15 to 1.00 on such date and such date is on or before October 31, 2004, or (2) exceeds 2.10 to 1.0 and such date is after October 31, 2004. Historical Statements shall have the meaning assigned to that term in Section 5.1.8((i)) [Historical Statements].
High Leverage Period means any period of time during which the items included in the definition of (a) below are incurred and remain the cause of the leverage ratio described below exceeding a ratio of 8:1, it being the intention that a reduction of EBITDA alone shall not result in a period of time being a High Leverage Period even if such ratio is exceeded. The relevant ratio is (a) the sum of indebtedness for borrowed money (but expressly excluding any working capital revolving loans, seller financing, and payments with respect to non-compete agreements), capital lease obligations and Series A Preferred Limited Partner capital contributions (including accrued and unpaid Series A Preferred Return, but excluding any conversion ratio) to (b) EBITDA (calculated in accordance with the definition of EBITDA under the Partnership’s senior loan agreement on the date of this Agreement) of the Partnership and its subsidiaries for the 12 most recent calendar months for which information is available (which shall include pro forma EBITDA for any acquired business for the portion of such 12 month period such business was not owned by the Partnership or its subsidiaries).

Examples of High Leverage Period in a sentence

  • The Loan Parties shall not permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter to be less than the 1.75 to 1.0 for each of any two (2) consecutive fiscal quarters if the second such fiscal quarter constitutes a High Leverage Period.

  • The Loan Parties shall not permit the Fixed Charge Coverage Ratio to be less than the 1.75 to 1.0 for each of any two (2) consecutive fiscal quarters if the second such fiscal quarter constitutes a High Leverage Period.

Related to High Leverage Period

  • Coverage Period means the time period specified on the Declarations Page beginning on the effective date and ending on the expiration date. All dates are as of 12:01 AM in the time zone of the Policyholder.

  • 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.

  • Measurement Period shall have the meaning specified in Section 14.01(b)(i).

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

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

  • Senior Leverage Ratio means the ratio of (a) Consolidated Senior Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Consolidated Senior Leverage Ratio means the ratio of Consolidated Senior Debt, determined as of the last day of any fiscal quarter of the Company, to Consolidated EBITDA for the period of 12 months ending on such last day.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

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

  • Ramp-Up Period means the period from and including the Effective Date to, but excluding, September 23, 2016.

  • Opt-Out Period means the period that begins the day after the earliest date on which the Notice is first mailed, and that ends no later than 30 days before the Final Approval Hearing. The deadline for the Opt-Out Period will be specified in the Notice.

  • Run-out Period means a period after the close of a Plan Year or other period during which Participants in a flexible spending arrangement (FSA) may request reimbursement for expenses incurred during the Period of Coverage.

  • Agreement Period means the time period specified in Article IV, Paragraph A, herein.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Ramp Period The Ramp Period shall begin on the Effective Date and continue for a period of 3 months following the Effective Date. Commencing with the Effective Date and at all times during the Ramp Period thereafter, Customer will receive the rates, discounts, charges and credits set forth herein and will not be subject to the AVC. Annual Volume Commitment (“AVC”): $360,000 in Total Service Charges (“AVC”) during each contract year of the Term (following the expiration of the Ramp Period).

  • Consolidated First Lien Net Leverage Ratio means, with respect to any four-quarter period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such period to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period.

  • Leverage Factor means the leverage factor in respect of a Series of ETP Securities as specified in the relevant Final Terms.

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

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

  • Post-Change Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the second anniversary of the occurrence of such Change in Control.

  • Distribution Compliance Period with respect to any Note, means the period of 40 consecutive days beginning on and including the later of (a) the day on which such Note is first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S, notice of which day shall be promptly given by the Company to the Trustee, and (b) the date of issuance with respect to such Note or any predecessor of such Note.

  • Four Quarter Period means a period of four full consecutive fiscal quarters of the Borrower and its Subsidiaries, taken together as one accounting period.

  • Baseline Period means the period used to determine the baseline emission rate for each regulated pollutant under OAR 340 division 222.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date (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.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Black-Out Period means any “black-out” or similar period under the Corporation’s policies covering trading in the Corporation’s securities to which the applicable Redeeming Member is subject (or will be subject at such time as it owns Class A Common Stock), which period restricts the ability of such Redeeming Member to immediately resell shares of Class A Common Stock to be delivered to such Redeeming Member in connection with a Share Settlement.