Leverage Ratio Step-Up Period means the fiscal quarter in which a Material Acquisition Event occurs and the next following three consecutive fiscal quarter periods of Borrower.
Leverage Ratio Step-Up Period means the fiscal quarter in which a Material Acquisition Event occurs and the next following three consecutive fiscal quarter periods of Nordson.
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of the Company that meets the following criteria: (a) a Material Acquisition Event shall have occurred during the first fiscal quarter of such period, and (b) by no later than thirty (30) days after the last day of the first fiscal quarter of such period, the Company shall have notified each Significant Holder that such period is to be designated a “Leverage Ratio Step-Up Period” in writing; provided that (i) the designation of a Leverage Ratio Step-Up Period shall be available to the Company only after each holder of Notes shall have received, with respect to each Acquisition that is a part of such Material Acquisition Event, (A) the historical financial statements of the target entity of such Acquisition, and (B) pro forma financial statements of the Company and its Subsidiaries accompanied by a certificate of an Authorized Officer showing pro forma compliance with paragraphs 6A(1) and 6A(2) hereof, both before and after (assuming implementation of the Leverage Ratio Step-Up Period) giving effect to such Acquisition and (ii) the Company shall not be entitled to designate more than two such Leverage Ratio Step-Up Periods during the term of this Agreement.
Examples of Leverage Ratio Step-Up Period in a sentence
The Borrower shall not suffer or permit at any time the Leverage Ratio, as of the end of each fiscal quarter of the Borrower, to exceed 3.50 to 1.00 (or, if applicable, 4.00 to 1.00 during any Leverage Ratio Step-Up Period).
Borrower covenants that it shall not suffer or permit the Leverage Ratio to exceed (i) during any Leverage Ratio Step-Up Period, (x) 4.00 to 1.00 for the first two fiscal quarters of such Leverage Ratio Step-Up Period and (y) 3.75 to 1.00 for the last two fiscal quarters of such Leverage Ratio Step-Up Period and (ii) at all other times, 3.50 to 1.00.
The Borrowers shall not suffer or permit, as of the end of each fiscal quarter of the Universal Group beginning with the fiscal quarter ending September 30, 2022, the Leverage Ratio to exceed 3.50 to 1.00 (or 4.00 to 1.00 during a Leverage Ratio Step-Up Period).
Nordson Corporation covenants that it shall not suffer or permit the Leverage Ratio to exceed (i) during any Leverage Ratio Step-Up Period, 4.00 to 1.00 and (ii) at all other times, 3.75 to 1.00.
The Borrowers shall not suffer or permit at any time, as of the end of any fiscal quarter of the Borrowers, the Total Net Leverage Ratio to exceed 4.00 to 1.00 (or 4.50 to 1.00 during any Leverage Ratio Step-Up Period).
More Definitions of Leverage Ratio Step-Up Period
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of the Borrower that meets the following criteria: (a) an Acquisition permitted hereunder for which the aggregate Consideration paid is equal to or greater than Twenty-Five Million Dollars ($25,000,000) shall have occurred during the first fiscal quarter of such period, and (b) on or prior to the last day of the first fiscal quarter of such period, the Borrower shall have designated such period a “Leverage Ratio Step-Up Period” pursuant to a written notice to the Administrative Agent (and the Administrative Agent shall notify the Lenders of such notice promptly after receipt thereof from the Borrower); provided that (i) the designation of a Leverage Ratio Step-Up Period shall be available to the Borrower only after the Administrative Agent and the Lenders shall have received, with respect to such Acquisition, (A) the historical financial statements of the target entity of such Acquisition, and (B) pro forma financial statements of the Companies accompanied by a certificate of a Financial Officer showing pro forma compliance with Section 5.7 hereof, both before and after (assuming implementation of the Leverage Ratio Step-Up Period) giving effect to such Acquisition, and (ii) only three Leverage Ratio Step-Up Periods shall be permitted during the Commitment Period.
Leverage Ratio Step-Up Period is defined in Section 10.3(a).
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of Parent that meets the following criteria: (a) a Material Acquisition Event shall have occurred during the first fiscal quarter of such period, and (b) on or prior to the last day of the first fiscal quarter of such period, Borrower shall have designated such period a “Leverage Ratio Step-Up Period” pursuant to a written notice to Agent (and Agent shall notify the Lenders of such notice promptly after receipt thereof from Borrower); provided that the designation of a Leverage Ratio Step-Up Period shall be available to Borrower only after Agent and the Lenders shall have received, with respect to each Acquisition that is a part of such Material Acquisition Event, (i) the Historical Financial Statements of the target entity of such Acquisition, and (ii) pro forma financial statements of the Companies accompanied by a certificate of a Financial Officer showing pro forma compliance with Section 5.7 hereof, both before and after (assuming implementation of the Leverage Ratio Step-Up Period) giving effect to such Acquisition.
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of Parent that meets the following criteria: (a) a Material Acquisition Event shall have occurred during the first fiscal quarter of such period, and (b) on or prior to the last day of the first fiscal quarter of such period, Borrower shall have designated such period a “Leverage Ratio Step-Up Period” pursuant to a written notice to Agent (and Agent
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of the Company that meets the following criteria: (a) a Material Acquisition Event shall have occurred during the first fiscal quarter of such period, and (b) by no later than thirty (30) days after the last day of the first fiscal quarter of such period, the Company shall have notified each Significant Holder that such period is to be designated a “Leverage Ratio Step-Up Period” in writing; provided that (i) the designation of a Leverage Ratio Step-Up Period shall be available to the Company only after each holder of Notes shall have received, with respect to each Acquisition that is a part of such Material Acquisition Event, (A) the historical financial statements of the target entity of such Acquisition, and (B) pro forma financial statements of the Company and its Subsidiaries accompanied by a certificate of an Authorized Officer showing pro forma compliance with paragraphs 6A(1) and 6A(2) hereof, both before and after (assuming implementation of the Leverage Ratio Step-Up Period) giving effect to such Acquisition, (ii) the Company shall not be entitled to designate more than two such Leverage Ratio Step-Up Periods during the term of this Agreement and (iii) in the event the Company designates a Leverage Ratio Step-Up Period, it shall not be permitted to designate a second Leverage Ratio Step-Up Period until it has maintained a Leverage Ratio of 3.25 to 1.00 or less for four consecutive fiscal quarters following the end of the initial Leverage Ratio Step-Up Period.
Leverage Ratio Step-Up Period has the meaning given to such term in the Existing Credit Agreement, including the definitions that are incorporated into such definition.
Leverage Ratio Step-Up Period means a four consecutive fiscal quarter period of the Parent that meets the following criteria: (a) a Material Acquisition Event shall have occurred during the first fiscal quarter of such period, and (b) on or prior to the last day of the first fiscal quarter of such period, the Company shall have designated such period a “Leverage Ratio Step-Up Period” pursuant to a written notice to each holder of the Notes; provided that the designation of a Leverage Ratio Step-Up Period shall be available to the Company only after the holders shall have received, with respect to each Acquisition that is a part of such Material Acquisition Event, (1) the Historical Financial Statements of the target entity of such Acquisition, and (2) pro forma financial statements of the Parent accompanied by a certificate of a Senior Financial Officer of the Parent showing pro forma compliance with Section 10.1 and Section 10.2, both before and after (assuming implementation of the Leverage Ratio Step-Up Period) giving effect to such Acquisition. Notwithstanding the foregoing, the G&K Acquisition to be consummated on or about March 21, 2017 shall not constitute a Material Acquisition Event pursuant to which the Company may designate a Leverage Ratio Step-Up Period.