Net Leverage Ratio definition

Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period.

Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

Net Leverage Ratio means, as of any date of determination, the ratio of:

Examples of Net Leverage Ratio in a sentence

• Net Leverage Ratio represents the First Lien Leverage Ratio (as defined in the Credit Facility), and means the ratio of amounts outstanding under the First Lien Term Loan and First Lien Revolver plus other outstanding debt obligations secured by a lien on the assets of Focus LLC (excluding letters of credit other than unpaid drawings thereunder) minus unrestricted cash and cash equivalents to Consolidated EBITDA (as defined in the Credit Facility).

• The Dividend Test is met if the Net Leverage Ratio is not greater than 3.50x and no Event of Default is continuing or would occur upon the making of the Restricted Payment.

• Thereafter, the Applicable Rate shall be determined using the grid below and by reference to the Consolidated First Lien Net Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a).

• The outstanding letters of credit are renewed annually and support required bonding on construction projects, large leases, workers compensation claims and the Company’s insurance liabilities.Summit LLC’s Consolidated First Lien Net Leverage Ratio, as such term is defined in the Credit Agreement, should be no greater than 4.75:1.0 as of each quarter-end.

• If the Net Leverage Ratio is below 4.50x pursuant to at least three Financial Reports relating to a calendar year, no clean-down shall be required for such calendar year.

More Definitions of Net Leverage Ratio

Net Leverage Ratio means, with respect to the Borrower on a consolidated basis with its Subsidiaries, at the end of any Fiscal Quarter, the ratio of (a) Net Debt at the end of such Fiscal Quarter to (b) Adjusted EBITDA for the four Fiscal Quarters then ending.

Net Leverage Ratio means, with respect to any Loan Asset for any Relevant Test Period, the meaning of “Net Leverage Ratio” or any comparable definition in the Loan Agreement for each such Loan Asset, and in any case that “Net Leverage Ratio” or such comparable definition is not defined in such Loan Agreement, the ratio of (a) Indebtedness minus Unrestricted Cash to (b) EBITDA.

Net Leverage Ratio means the ratio of Net Interest Bearing Debt to EBITDA.

Net Leverage Ratio has the meaning assigned to such term in Section 6.18(a).

Net Leverage Ratio means, for any particular period, the ratio of (i) Net Debt at the last day of such Fiscal Quarter to (ii) Rolling EBITDA for such period.

Net Leverage Ratio means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, the ratio of

Net Leverage Ratio means the ratio of net financial liabilities (sum of interest-bearing loans and borrowings, current and non-current, less cash and cash equivalents) to Adjusted EBITDA (LTM).