Leverage Limit definition

Leverage Limit. As defined in Section 4.1(b)(ii).

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Leverage Limit means, as of any date of calculation, (i) the product of (a) EBITDA multiplied by (b) the Applicable Advance Multiple as of such date, minus (ii) outstanding Senior Funded Debt (other than the sum of the outstanding Revolving Loans, Swing Loans and L/C Obligations). For purposes of calculating the Leverage Limit as of any date of calculation, EBITDA shall be calculated for the twelve (12) month period ending on the date most recently ended for which financial statements described in Section 6.1(a) of Holdings and its Subsidiaries on a consolidated basis were delivered to Agent.

Leverage Limit means 50% of Index Level; “Leverage Tolerance Limit” means 55% of Index Level; “Leverage Ratio” means:

Examples of Leverage Limit in a sentence

• The Leverage Limit may be exceeded on a temporary basis to satisfy short-term liquidity needs, refinance existing borrowings or for other obligations.

• For the avoidance of doubt, the Leverage Limit does not apply to indebtedness incurred at the Investment level, guarantees of indebtedness, “bad boy” guarantees, borrowings entered into by or in relation to a CVC Private Equity Fund in order to finance capital contributions or other related liabilities that are not recourse indebtedness for borrowed money of CVC-PEF itself.

• No remedial action will be required if the Leverage Limit is exceeded for any reason (including, without limitation, if the Leverage Limit is exceeded on a temporary basis to satisfy short-term liquidity needs, refinance existing borrowings or for other obligations) other than the incurrence of an increase in indebtedness (including the exercise of rights attached to an Investment).

More Definitions of Leverage Limit

Leverage Limit. As defined in Section 4.1(b)(ii). Leverage Ratio: On any date of incurrence of any indebtedness, the quotient obtained by dividing (i) Aggregate Net Leverage by (ii) the aggregate month-end values of the Partnership’s Investments, plus the value of any other assets (such as cash on hand), as determined in accordance with the Partnership’s valuation policy. Loss Carryforward Amount: The Loss Carryforward Amount shall initially equal zero and shall cumulatively increase by the absolute value of any negative annual Total Return and decrease by any positive annual Total Return, provided, that the Loss Carryforward Amount shall at no time be less than zero and provided further, that the calculation of the Loss Carryforward Amount will exclude the Total Return related to any Units redeemed during the applicable Reference Period, which Units will be subject to the Performance Participation Allocation upon redemption as described in Section 3.

Leverage Limit means, at any particular time, an amount equal to 15% of the Total Asset Value at such time.

Leverage Limit has the meaning given to it in Clause 4.4.3; “Liabilities” has the meaning given to it in Clause 14.1;