Leverage Test definition

Leverage Test is defined in Section 6.19(b).
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Leverage Test means that, as of the end of the applicable Fiscal Quarter of the Borrower, the ratio of (a) Funded Debt of the Borrower and its Consolidated Subsidiaries to (b) the sum of (i) the total assets of the Borrower and its Consolidated Subsidiaries minus (ii) the total liabilities of the Borrower and its Consolidated Subsidiaries, in each case in clauses (a) and (b), as set forth in the financial statements delivered pursuant to Section 5.01(a) or Section 5.01(b), as applicable, for such Fiscal Quarter, does not exceed 1.0 to 1.0.
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Leverage Test means, in respect of any Measurement Period, the ratio of Consolidated Total Net Borrowings on the last day of that Measurement Period to Adjusted Consolidated EBITDA in respect of that Measurement Period.
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Examples of Leverage Test in a sentence

  • The Leverage Test will be met if the ratio of Senior Consolidated Net Debt as at the relevant Semi-Annual Date to Consolidated EBITDA in respect of the Testing Period ending on that Semi-Annual Date is less than or equal to 8.5:1.

  • The Company must ensure that the Leverage Test in respect of each Measurement Period shall not exceed 3.25:1.

  • For this reason, claims Cicero, this could not have been held by Epicurus himself who believed that pleasure is the highest good.

  • Limitations on Restricted Payments The Issuer will not, and will not permit any Restricted Subsidiary to, directly or indirectly, make any Restricted Payment unless at the time of such Restricted Payment: (1) no Default shall have occurred and be continuing or shall occur as a consequence thereof; and (2) after giving effect to such incurrence and the application of proceeds therefrom the Consolidated Leverage Test would be satisfied.

  • The Issuer may designate any Subsidiary (including any newly formed or newly acquired Subsidiary) of the Issuer as an “Unrestricted Subsidiary” under this Indenture (a “Designation”) only if: (1) no Default shall have occurred and be continuing at the time of or immediately after giving effect to such Designation; and (2) at the time of and immediately after giving effect to such Designation, the Consolidated Leverage Test would be satisfied.


More Definitions of Leverage Test

Leverage Test is defined in Section 9.2(a).
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Leverage Test is defined in Section 5.04(a).
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Leverage Test has the meaning set forth in Section 2.06(a).
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Leverage Test means, for any date during each period set forth below, the ratio set forth opposite such period: Period Ratio ------ ----- Issue Date through September 30, 2004 5.25 to 1 October 1, 2004 through September 30, 2005 4.75 to 1 October 1, 2005 through September 30, 2006 4.25 to 1 October 1, 2006 and thereafter 4.00 to 1
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Leverage Test is defined in Section 5.04.
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Leverage Test has the meaning given to it in Clause 24.1 (Financial Definitions).
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Leverage Test. Prior to the Suspension Test Date:
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