Leverage Trigger Event definition
Leverage Trigger Event means, on any date during the Covenant Relief Period, the delivery by the Company of a Compliance Certificate pursuant to Section 6.02(b) demonstrating that the Consolidated Net Leverage Ratio, as of the last day of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date, was greater than 3.75 to 1.00 (it being understood and agreed that if, during the Covenant Relief Period, the Company fails to deliver a Compliance Certificate when due in accordance with Section 6.02(b), a “Leverage Trigger Event” shall be deemed to have occurred as of the date such Compliance Certificate was required to have been delivered, if the Administrative Agent determines that the Consolidated Net Leverage Ratio, as of the last day of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date, was greater than 3.75 to 1.00).
Leverage Trigger Event means the Partnership shall have achieved, as of the last day of any fiscal quarter after the Fourth Amendment Effective Date, a Consolidated Leverage Ratio (calculated in accordance with the Credit Agreement as in effect immediately prior to the Sixth Amendment Effective Date and without regard to the amendments effected pursuant to the Sixth Amendment) of less than 4.00:1.00 for the period of four (4) consecutive fiscal quarters ending on such date.
Leverage Trigger Event means the occurrence of a Quarterly Reporting Date with respect to any Fiscal Quarter, the Leverage Ratio for which is equal to or greater than 2.5 :1 as reported in the compliance certificate delivered pursuant to Section 11.1(a)(iii).
More Definitions of Leverage Trigger Event
Leverage Trigger Event means a Senior Debt Ratio exceeding, at the last day of any fiscal quarter, (i) 1.0 to 1.0 if such date is prior to the date of consummation of a Qualifying Dexter Asset Sale and (ii) 1.5 to 1.0 if such date is on or after the date of consummation of a Qualifying Dexter Asset Sale. A Leverage Trigger Event will cease to be continuing on the first to occur of (x) the date of delivery of financial statements pursuant to Section 5.01 showing no Trigger Event existed at the date thereof and (y) the date on which, after subtracting the amount of prepayments of Loans since the date of the most recent financial statements delivered pursuant to Section 5.01 from Senior Debt as reflected in such financial statements, no Trigger Event would have existed as at the date thereof.