Operating Leverage definition

Operating Leverage means, on and by reference to each date (“Relevant Date”) falling three (3) months before any Leverage Calculation Date (and without double-counting), the outstanding Net Financial Indebtedness of ▇▇▇▇▇▇▇ Energy as shown in its most recent financial statements available at that Leverage Calculation Date:
View Source
Operating Leverage ratio shall be defined as (1) total statutory liabilities less separate account liabilities less the Asset Valuation Reserve (AVR), divided by (2) the sum of statutory capital & surplus plus the AVR.
View Source
Operating Leverage means Funded Debt plus dividends declared and/or paid during the applicable measurement period divided by EBITDA.
View Source

Examples of Operating Leverage in a sentence

  • The number of Performance Shares Earned distributable to the Participant under this Agreement shall be determined from Operating Leverage and Earnings Per Share for the three-year cycle FY2016 through FY2018, at the following levels.

  • At all times during the term of the Loan, Borrower shall maintain a maximum Operating Leverage of not more than 3.50 to 1.00.

  • Radian shall cause RII at all times to have a maximum Operating Leverage Ratio of twenty.

  • Holding Company and its Subsidiaries shall have, on a consolidated basis, at the end of each Fiscal Quarter, an Operating Leverage Ratio as of the last day of such Fiscal Quarter for the 12-month period then ended, of not more than 2.50 to 1.00.

  • On a consolidated statutory basis, ASIC and its Subsidiaries shall not permit the Operating Leverage Ratio to exceed 3.0:1.0 as of the last day of each fiscal quarter during the term of this Agreement.

  • As of the end of the fiscal ------------------------ quarters of the Borrowing Group ending June 30 and September 30 of each year, Borrowers shall not cause or permit the Operating Leverage Ratio to be less than 3.50 to 1.00.

  • As of the end of any Fiscal Quarter, cause each Insurance Subsidiary to maintain an Operating Leverage Ratio of not more than 3.0 to 1.0.

  • The "Operating Leverage" ratio shall be defined as (1) total statutory liabilities less separate account liabilities less the Asset Valuation Reserve (AVR), divided by (2) the sum of statutory capital & surplus plus the AVR.

  • The Borrower will not permit the Operating Leverage Ratio at the end of any fiscal quarter for (i) HIC, on a combined statutory basis, and (ii) VIK, on a combined statutory basis, in each case to be greater than 3.00 to 1.

  • Holding Company and its Subsidiaries shall have, on a consolidated basis, at the end of each Fiscal Quarter, an Operating Leverage Ratio as of the last day of such Fiscal Quarter for the 12-month period then ended, of not more than 3.00 to 1.00.


More Definitions of Operating Leverage

Operating Leverage means total funded bank debt to EBITDA for the trailing 12-month period. This covenant shall be measured quarterly upon Lender’s receipt of the financial statements of Borrower required herein.
View Source
Operating Leverage as of the last day of any fiscal quarter of the ------------------ Borrower, the ratio of (a) the aggregate (without duplication) of all Net Premiums Written of the Insurance Subsidiaries of the Borrower for the four consecutive fiscal quarters ended on such day to (b) the aggregate (without duplication) of all Policyholder Surplus of such Insurance Subsidiaries as of such day.
View Source