Leverage Test definition
Leverage Test is defined in Section 6.19(b).
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.
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.
Examples of Leverage Test in a sentence
The Company must ensure that the Leverage Test in respect of each Measurement Period shall not exceed 3.25:1.
The Borrower desires to amend Section 6.07 (Leverage Test) of the Existing Agreement in certain particulars.
As of the last day of each Leverage Test Period beginning on January 1, 2004 through and including December 31, 2004, the Senior Leverage Ratio shall not exceed 3.00:1.00.
As of the last day of each Leverage Test Period beginning on April 1, 2003 through and including December 31, 2003, the Senior Leverage Ratio shall not exceed 3.25:1.00.
As of the last day of each Leverage Test Period after January 1, 2005, the Senior Leverage Ratio shall not exceed 2.75:1.00.
More Definitions of Leverage Test
Leverage Test is defined in Section 9.2(a).
Leverage Test is defined in Section 5.04(a).
Leverage Test has the meaning set forth in Section 2.06(a).
Leverage Test is defined in Section 5.04.
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
Leverage Test means, with respect to the Parent, that the Leverage Ratio of the Parent is not greater than 2.00 to 1.00.
Leverage Test. Prior to the Suspension Test Date:
(i) If the Scheme Date occurs on or prior to 30 June 2005, the Leverage Test in respect of any Relevant Period specified in Column 1 below shall not exceed the ratio set out in Column 2 below opposite that Relevant Period.
Column 1 Relevant Period Column 2 Ratio
(ii) If the Scheme Date occurs after 30 June 2005, the Leverage Test in respect of any Relevant Period specified in Column 1 below shall not exceed the ratio set out in Column 2 below opposite that Relevant Period.
Column 1 Relevant Period Column 2 Ratio