Leverage Trigger definition

Leverage Trigger shall occur when the Leverage Ratio is greater than 6.50:1.00 for 2 consecutive Fiscal Quarters. For purposes only of determining whether a Leverage Trigger has occurred, the Leverage Ratio shall be calculated on a pro forma basis with respect to any Asset Dispositions and concurrent repayments of Indebtedness occurring between the end of the relevant Fiscal Quarter and the delivery of financial statements by the Borrower to the Administrative Agent with respect to such quarter.
View Source
Leverage Trigger shall occur if the Leverage Debt-to-Income Ratio with respect to Enova shall exceed *** to ***.
View Source

Examples of Leverage Trigger in a sentence

  • In the event a Leverage Trigger occurs at any time after a Leverage Release Date, then the requirements of Section 5.10(a) and Section 5.10(b) with respect to new guaranties, environmental indemnities and pledges shall once again be in effect.

  • Notwithstanding the foregoing, during any Leverage Trigger Period, no Borrowing shall be permitted that would cause (a) the aggregate principal amount of Revolving Facility Advances plus the Letter of Credit Exposure to exceed (b)(i) the Total Revolving Facility Commitments (after taking into account any Mandatory Commitment Reductions) less (ii) the amount of any Mandatory Prepayments made during such Leverage Trigger Period in excess of the Mandatory Commitment Reductions as provided in Section 2.07(c).