Maximum Total Leverage Ratio definition

Maximum Total Leverage Ratio means, for any Computation Period, the ratio of (a) the total Debt outstanding less the amount of Unrestricted Cash that is Excess Cash, in each case as of the last date of such Computation Period to (b) the total for such Computation Period of EBITDA.

Maximum Total Leverage Ratio means 3.75:1.00; provided that (a) for the two consecutive fiscal quarters ended immediately following the consummation of any Qualified Acquisition (including the fiscal quarter in which such Qualified Acquisition occurs), the Maximum Total Leverage Ratio shall be 4.75:1.00; (b) for the fiscal quarter ended immediately after such two fiscal quarters referred to in clause (a), the Maximum Total Leverage Ratio shall be 4.50:1.00; (c) for the fiscal quarter ended immediately after the fiscal quarter referred to in clause (b), the Maximum Total Leverage Ratio shall be 4.25:1.00 and (d) for the fiscal quarter ended immediately after the fiscal quarter referred to in clause (c), the Maximum Total Leverage Ratio shall be 4.00:1.00.

Maximum Total Leverage Ratio means sixty percent (60.0%); provided that the Borrower shall have the option, exercisable no more than three (3) times during the term of this Agreement, to elect that the Maximum Total Leverage Ratio may exceed sixty percent (60%) (but in no event, greater than sixty-five percent (65%)) for any fiscal quarter in which the Borrower or any of its Subsidiaries completes a Material Acquisition and the two immediately succeeding fiscal quarters so long as the Borrower has delivered a written notice to the Administrative Agent that the Borrower is exercising its option under this proviso.

Examples of Maximum Total Leverage Ratio in a sentence

• In the event that the applicable Retroactive Effect Deposit is deposited into the Sinking Fund Account and the inclusion of the Retroactive Effect Deposit in the calculation of, as applicable, EBITDA, the Maximum Total Leverage Ratio or Net Sales for the Reference Computation Period results in compliance with, respectively, Section 7.13.1, Section 7.13.2 or Section 7.13.3 for the Reference Computation Period, the applicable Curable Default shall be deemed waived.

• Section 6.11(a) of the Credit Agreement is amended in its entirety as follows:(a) Maximum Total Leverage Ratio.

• The Credit Facility provides for, among other things: (i) no scheduled payments of principal until maturity; (ii) a maximum Secured Leverage Ratio of 3.75x trailing twelve months ("TTM") Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") and a Maximum Total Leverage Ratio of 4.50x TTM Adjusted EBITDA, each with no step downs; and (iii) a Minimum Interest Expense Coverage Ratio of 3.25x TTM Adjusted EBITDA.

• The Borrower will not permit the ratio of Consolidated Total Indebtedness to Consolidated Total Adjusted Asset Value (expressed as a percentage) to be greater than the Maximum Total Leverage Ratio as of the last day of any fiscal quarter of the Borrower.

• Agent shall not have received a certificate executed by the chief financial officer of Holdings in form and substance acceptable to Agent (the "DRAW REQUEST CERTIFICATE") certifying that, after giving effect to any such requested Advance, and as of the date of the request for such Advance, the Credit Parties comply with (i) the Maximum Senior Secured Leverage Ratio covenant and (ii) the Maximum Total Leverage Ratio covenant as set forth in paragraphs (a) and (b), respectively, of Annex G as then in effect.

More Definitions of Maximum Total Leverage Ratio

Maximum Total Leverage Ratio has the meaning assigned to such term in Section 6.11(a).

Maximum Total Leverage Ratio has the meaning given that term in Section 10.1(a).

Maximum Total Leverage Ratio. Total Net Debt to Consolidated EBITDA Total Net Debt for the four quarter period ended [ ], 20[ ] ________________ Consolidated EBITDA ________________ Calculation of Consolidated EBITDA: Consolidated Net Income for such period,

Maximum Total Leverage Ratio. As of any fiscal quarter end, permit the ratio (the "Total Leverage Ratio") of (a) the sum of (i) Debt less (ii) the outstanding amount of all Performance Based Letters of Credit, in each case as of such date to (b) EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date to be greater than the corresponding ratio set forth in Table A below; provided, however, that if the Borrower consummates an equity issuance in a minimum amount of $40,000,000 (a "Qualifying Equity Issuance"), the ratios set forth in Table B shall apply. For purposes of calculating the Total Leverage Ratio, any prepayment of Debt with the proceeds of a Qualifying Equity Issuance occurring within five (5) Business Days following any fiscal quarter end shall be deemed to have been made as of the last day of such fiscal quarter. TABLE A Period Ratio ------ ----- Fiscal quarter ending 3.50 to 1.00 12/31/01 Fiscal quarters ending 3.25 to 1.00 3/31/02 and 6/30/02 Fiscal quarters ending 3.00 to 1.00 9/30/02 and 12/31/02 Fiscal quarters ending 2.75 to 1.00 3/31/03, 6/30/03, 9/30/03 and 12/31/03 Fiscal quarters ending 2.50 to 1.00 3/31/04 and thereafter TABLE B Period Ratio ------ ----- Fiscal quarter end 12/31/01 3.00 to 1.00 Fiscal quarters ending 2.75 to 1.00 3/31/02 and 6/30/02 Fiscal quarters ending 2.50 to 1.00 9/30/02 and thereafter

Maximum Total Leverage Ratio means (i) 3.50 to 1.00 for each fiscal quarter ending prior to the Special Dividend Election Period, (ii) 4.00 to 1.00 for each of the four fiscal quarters ending during the Special Dividend Election Period and (iii) 3.50 to 1.00 for each fiscal quarter ending after the Special Dividend Election Period (provided that, for any such fiscal quarter ending during the Collateral Period, the Maximum Total Leverage Ratio shall be 4.00 to 1.00).

Maximum Total Leverage Ratio. Maintain at all times a Leverage Ratio of not more than 60%.

Maximum Total Leverage Ratio means (i) 3.50 to 1.00 for each fiscal quarter ending prior to the Special Dividend Election Period, (ii) 4.00 to 1.00 for each of the four fiscal quarters ending during the Special Dividend Election Period and (iii) 3.50 to 1.00 for each fiscal quarter ending after the Special