Leverage Increase Period definition
Leverage Increase Period has the meaning specified in Section 8.11(a).
Leverage Increase Period has the meaning specified in Section 5.04(a)(i).
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 as defined in Section 6.3.
Leverage Increase Period has the meaning specified in Section 7.11(a). “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), 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). 31
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 8.08(b). “LIBOR” has the meaning set forthspecified in the definition of “Eurodollar Base Rate.” above. “LIBOR Rate” has the meaning set forthspecified in the definition of “Eurodollar Base Rate.” above. “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page that the Administrative Agent (in its reasonable discretion) designates to determine LIBOR (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time in its reasonable discretion). “LIBOR Successor Rate” has the meaning specified in Section 3.073.03(c). “LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definitions of Base Rate, Interest Period, Eurodollar Rate, Eurodollar Base Rate, timing and frequency of determining rates and making payments of interest, and other technical, administrative and/or operational matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible, or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines, in consultation with the Borrower, is reasonably necessary in connection with the administration of this Agreement). “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). “Liquidity” means, as of any date of determination: (a) the aggregate amount of unrestricted and unencumbered (other than by Liens in favor of the Collateral Agent) cash or cash equivalents (measured at fair market value) of the Parent Guarantor and its Subsidiaries; plus (b) the aggregate amount actu...
Leverage Increase Period means the four fiscal quarters ended immediately following the consummation of an acquisition with an aggregate purchase price of at least $200,000,000.