Maximum Net Leverage Ratio definition
Maximum Net Leverage Ratio means, as of the last day of each calendar quarter, a ratio of (a) the sum of (i) all Funded Debt, minus (ii) Qualified Cash, divided by (b) Borrower’s and its Subsidiaries’ Adjusted EBITDA, all as measured on a trailing twelve (12) month basis.
Maximum Net Leverage Ratio has the meaning assigned to such term in Section 6.11(a).
Maximum Net Leverage Ratio means, as of the last day of any fiscal quarter, the ratio of (a) Consolidated Total Debt as of such day adjusted by deducting the aggregate amount of unrestricted, unencumbered cash and cash equivalents as set forth on the Consolidated balance sheets of the Parent and its Subsidiaries as of such day, in an amount not to exceed $100,000,000, to (b) Consolidated EBITDA for the Computation Period ending on such day minus cash payments made in respect of operating lease liabilities in accordance with IFRS for such period.
Examples of Maximum Net Leverage Ratio in a sentence
The Maximum Net Leverage Ratio as of the last day of any Computation Period shall not exceed 3.50 to 1.00 for such period.