Leverage Increase Period definition
Leverage Increase Period has the meaning specified in Section 8.11(a).
Leverage Increase Period has the meaning set forth in Section 6.07.
Leverage Increase Period shall have the meaning assigned to such term in Section 6.1.
Examples of Leverage Increase Period in a sentence
The Borrower will not at any time permit the ratio (expressed as a percentage) of Consolidated Total Secured Indebtedness as of such date of determination to Consolidated Total Asset Value as of such date to exceed forty NAI-5000431466v13 percent (40%); provided that the foregoing limit shall increase to forty-five percent (45%) for any fiscal quarter for which a Leverage Increase Period is in effect.
Consolidated Leverage Ratio (Line II.A minus II.B ÷ Line I.C): _____ : 1.00 Maximum permitted: _____ : 1.002 2 3.50 : 1:00, or, if a Leverage Increase Period is in effect, 4.00 : 1.00.
For purposes of any provision of this Agreement that requires pro forma compliance with the Financial Covenant or compliance with the then-applicable Financial Covenant level prior to the first full fiscal quarter of the Parent Borrower following the Effective Date, the Financial Covenant level that would apply if the Financial Covenant was then in effect (i.e., a Total Net Leverage Ratio of 4.00:1.00 or, if a Leverage Increase Period would have applied, 4.50:1.00) shall be used.
More Definitions of Leverage Increase Period
Leverage Increase Period means the four fiscal quarters ended immediately following the consummation of a Qualified Acquisition.
Leverage Increase Period means the period commencing on the last day of the Covenant Relief Period and ending on the earlier of (i) the first Measurement Date following the date Hyatt has delivered a notice to the Administrative Agent electing to terminate the Leverage Increase Period (for the avoidance of doubt, the increased Leverage Ratio permitted under clause (ii) of Section 5.9(a) shall not apply for such Measurement Date) and (ii) the day following the second Measurement Date occurring after the Covenant Relief Period, which date shall not, in any event, be later than October 1, 2021.
Leverage Increase Period. See Section 7.9(a).
Leverage Increase Period has the meaning specified in Section 7.11(a).means each of the four (4) fiscal quarters of the Borrower immediately following the consummation of any Qualified Acquisition (including, for the avoidance of doubt, the fiscal quarter in which such Qualified Acquisition was consummated); provided, that, (a) no more than one (1) Leverage Increase Period shall be in effect at any time, and (b) for at least two (2) fiscal quarters of the Borrower immediately following each Leverage Increase Period, (i) the Consolidated Senior Secured Leverage Ratio as of the end of such fiscal quarters shall not be greater than 3.00 to 1.0 prior to giving effect to another Leverage Increase Period, and (ii) each appliable required Consolidated Leverage Ratio incurrence test level shall not be greater than 4.00 to 1.0 prior to giving effect to another Leverage Increase Period.
Leverage Increase Period has the meaning specified in Section 7.11. “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). “Lien Waiver” means an agreement, in form and substance satisfactory to Administrative Agent in its Permitted Discretion, by which any Person who controls or is in possesssion of the books and records of the Loan Parties, such Person grants Administrative Agent access to such books and records. “Line Cap” means as of any date of determination, the lesser of the Borrowing Base and the aggregate Revolving Commitments. “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan, Protective Advance or Swingline Loan, and shall include as the context requires, any Incremental Revolving Loan. “Loan Documents” means this Agreement, each Note, each Issuer Document, each Joinder Agreement, the Collateral Documents, each Incremental Facility Amendment and the Fee Letter (but specifically excluding Secured Hedge Agreements and any Secured Cash Management Agreements). “Loan Notice” means a notice of (a) a Borrowing of Revolving Loans, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Term SOFR Loans, in each case pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit 2.02 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) appropriately completed and signed by a Responsible Officer of the Borrower. “Loan Parties” means, collectively, the Borrower and each Guarantor. -24-
Leverage Increase Period means each of the four (4) fiscal quarters of the Borrower immediately following the consummation of any Qualified Acquisition (including, for the avoidance of doubt, the fiscal quarter in which such Qualified Acquisition was consummated); provided, that, (a) no more than one (1) Leverage Increase Period shall be in effect at any time, and (b) for at least two (2) fiscal quarters of the Borrower immediately following each Leverage Increase Period, (i) the Consolidated Senior Secured Leverage Ratio as of the end of such fiscal quarters shall not be greater than 3.00 to 1.00 prior to giving effect to another Leverage Increase Period, and (ii) each appliable required Consolidated Leverage Ratio incurrence test level shall not be greater than 4.00 to 1.00 prior to giving effect to another Leverage Increase Period.
Leverage Increase Period has the meaning specified in Section 7.07. “LIBOR” has the meaning specified in the definition of “Eurodollar Rate.” 15 CHAR1\1756574v5