Net Debt Leverage Ratio definition

Net Debt Leverage Ratio means, with respect to CEC, as of any date, the ratio of (i) the aggregate notional principal amount of all outstanding debt (assuming for this purpose that the aggregate principal amount of any revolving credit agreement or similar arrangement of CEC is fully drawn as of such date), excluding any debt from the Company or its Subsidiaries that is consolidated on CEC’s balance sheet, unless the Call Right is being exercised in respect of all of the Class A Units or, in the case of a partial exercise of the Call Right, the Call Right is being exercised for all of the remaining outstanding Class A Units, minus the Liquidity Amount of CEC; provided that solely for the purposes of calculating the Net Debt Leverage Ratio, the Liquidity Amount will include all cash from Blocked Subsidiaries, to (ii) the EBITDA for the last four consecutive fiscal quarters of CEC for which financial statements are available (excluding any EBITDA from the Company or its Subsidiaries that is consolidated on CEC’s financial statements (unless the Call Right is being exercised in respect of all of the Class A Units or, in the case of a partial exercise of the Call Right, the Call Right is being exercised for all of the remaining outstanding Class A Units)). For the avoidance of doubt, the Net Debt Leverage Ratio is measured immediately prior to an exercise of the Call Right.

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Net Debt Leverage Ratio means, as of a specific date, the ratio of (x) the aggregate indebtedness of the Company and its Subsidiaries (including all obligations for borrowed money, obligations evidenced by notes, bonds, debentures or similar instruments, capital leases (to the extent required to be reflected as indebtedness under GAAP) and drawn letters of credit (to the extent unreimbursed)) less the aggregate cash and cash equivalents held by the Company and its Subsidiaries as of such date to (y) the Company’s EBITDA for the four consecutive calendar quarters immediately preceding such date.

Net Debt Leverage Ratio means Net Debt / Comparable EBITDA.

Examples of Net Debt Leverage Ratio in a sentence

The actual Total Net Debt Leverage Ratio was to 1.00, as computed on Attachment I hereto, and, accordingly, the covenant [has][has not] been complied with.
The Borrower shall at all times maintain the Total Net Debt Leverage Ratio in an amount less than or equal to 3.5 to 1.
The final ratio will be set equal to the Company’s and Company’s Subsidiaries actual consolidated Net Debt Leverage Ratio as of the Closing Date (as defined in the Stock Purchase Agreement).
The Company will not permit the Net Debt Leverage Ratio to be greater than 3.25 to 1.00 at any time.
The Borrower shall procure that the Total Net Debt Leverage Ratio of the Consolidated Group in respect of any financial year or half year ending on the dates listed below (by reference to each of the financial statements referred to in Clauses 18.2 (Audited Accounts) and 18.3 (Semi-Annual Information) is at no time greater than the amount set out below in respect of such financial year or half year.
If the Canopy EIE Threshold is met and the Company’s Net Debt Leverage Ratio performance falls between designated levels of performance set forth in the above table, the percentage by which the Participant’s Target Number of Performance Share Units is multiplied will be calculated by linear interpolation.
The Company will not permit the Net Debt Leverage Ratio to be greater than the Applicable Maximum Net Debt Leverage Ratio at any time.
Permit the Total Net Debt Leverage Ratio for the four consecutive fiscal quarters (a) ending December 31, 2006, March 31, 2007, June 30, 2007 and September 30, 2007, to be greater than 2.50 to 1.00 and (b) ending December 31, 2007 and each fiscal quarter thereafter, to be greater than 2.00 to 1.00.
Permit the Total Net Debt Leverage Ratio for the four consecutive fiscal quarters (a) ending September 30, 2006, December 31, 2006, March 31, 2007, June 30, 2007 and September 30, 2007, to be greater than 2.50 to 1.00 and (b) ending December 31, 2007 and each fiscal quarter thereafter, to be greater than 2.00 to 1.00.
The Borrower shall procure that the Total Net Debt Leverage Ratio of the Consolidated Group in respect of any financial year or half year ending on the dates listed below (by reference to each of the financial statements referred to in Clauses 17.2 (Audited Accounts) and 17.3 (Semi-Annual Information) is at no time greater than the amount set out below in respect of such financial year or half year.

More Definitions of Net Debt Leverage Ratio

Net Debt Leverage Ratio means, at any time for the Test Period then most recently ended, the ratio of (x) Net Debt minus the principal portion of the Material Disposition Adjustment Amount, if any, to (y) Adjusted EBITDA.

Net Debt Leverage Ratio means, as of any date, the ratio of (a) Net Debt as of such date divided by (b) EBITDA for the four consecutive fiscal quarters immediately preceding such date.

Net Debt Leverage Ratio means, at any time for the Test Period then most recently ended, (x) prior to the Senior Note Covenant Release Date, the ratio of “Consolidated Total Net Debt” to “Consolidated EBITDA”, as each term is defined in the Senior Note Purchase Agreement, and (y) subsequent to the Senior Note Covenant Release Date, the ratio of (i) Net Debt minus the principal portion of the Material Disposition Adjustment Amount, if any, to (ii) Adjusted EBITDA.

Net Debt Leverage Ratio means the ratio calculated in accordance with Clause 20.1(a) (Financial undertakings).