Parity Ratio definition

Parity Ratio means a measure of price received for agricultural products divided by the parity index. The parity ratio is an indication of the per unit purchasing power of agricultural commodities generally in terms of the goods and services currently bought by agriculturalists, in relation to purchasing power of agricultural products in the 1910 - 1914 base period.
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Parity Ratio means, on any Quarterly Distribution Date, (a) the Adjusted Pool Balance (including all accrued interest on the Financed Eligible Loans) divided by (b) the Outstanding Amount of the Notes, after giving effect to distributions to be made on that Quarterly Distribution Date. The Parity Ratio shall be calculated by the Administrator and certified to the Trustee upon which the Trustee may conclusively rely with no duty to further examine or determine such information.
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Parity Ratio means a customer class's revenue-to-cost ratio divided by the system's revenue-to-cost ratio. This ratio shall only be presented to the commission as either a percentage or a decimal.
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Examples of Parity Ratio in a sentence

  • Thus, a Parity Ratio less than 100 indicates that the average per unit purchasing power of all farm products is lower than during the 1910-1914 period.

  • Punjab has 414,000 female students in colleges, maintaining Gender Parity Ratio at 1.86.

  • Amount of Debt and Liabilities Outstanding Quasi-Public AgencyDebt Outstanding as of 6/30/2018 Pension OPEB Rating Agency Guidance and Peer Comparison The Parity Ratio is the percentage of total assets, including loans and funds in the loan acquisition account and the reserve account, relative to the total outstanding bonds.

  • However, as the performance of PEAKS deteriorated, the Parity Ratio calculated pursuant to ITT’s internal model diverged significantly from the actual Parity Ratio that was reported to and tracked by Fitzpatrick and others of ITT’s Former Management.

  • Although the practice of making POBOB payments obviated the need to make guarantee payments to reduce the Parity Ratio, it also resulted in the debt to the PEAKS Senior Creditors continuing to accrue interest at Libor + 5.5%, thereby unnecessarily increasing ITT’s long-term guarantee liability under the Guarantee Agreement.

  • In response, upon information and belief, Fitzpatrick was told by ITT’s controller that the Parity Ratio had declined dramatically, from 119% to 112% in the course of only three months.

  • By November 1, 2012, ITT’s Former Management caused ITT to make approximately $2,762,000 in POBOB payments, which prevented the subject PEAKS loans from defaulting and deferred approximately $30 million in guarantee payments that ITT would have been required to make to maintain the Parity Ratio.

  • If the value of PEAKS’ assets dipped below 105% of the value of its liabilities, ITT was required to pay down the Senior Debt owed to the PEAKS Senior Creditors until the Parity Ratio was re-balanced.

  • However, unlike Parity Ratio guarantee payments, the POBOB payments were not contractually recoverable.

  • Upon further information and belief, certain of ITT’s Former Management implemented this scheme – which they later dubbed “Payments on Behalf of Borrowers,” or POBOB Payments – with the goal of preventing PEAKS loans from defaulting so as to avoid making Parity Ratio guarantee payments that would otherwise have been required based on actual student loan performance.


More Definitions of Parity Ratio

Parity Ratio means, on any quarterly distribution date, (a) the Adjusted Pool Balance (including all accrued interest on the financed student loans) divided by (b) the outstanding principal balance of the notes, after giving effect to distributions to be made on that quarterly distribution date.
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Parity Ratio means (a) on the Issue Date, (i) the sum of the Pool Balance as of such date (including all accrued interest on the Financed Student Loans), plus the initial amounts deposited to the Capitalized Interest Fund, the Debt Service Reserve Fund, the Collection Fund and any cash amounts deposited to the Acquisition Fund and not applied, or reserved, on the Issue Date to pay the costs of issuance of the transaction, divided by (ii) the Outstanding Amount of the Notes on the Issue Date, and (b) on any Distribution Date, (i) the Adjusted Pool Balance divided by (ii) the Outstanding Amount of the Notes, after giving effect to distributions to be made on the prior Distribution Date. The Parity Ratio shall be calculated by the Administrator and certified to the Trustee, upon which the Trustee may conclusively rely with no duty to further examine or determine such information.
Sample 1

Related to Parity Ratio

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

  • Senior Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (i) Senior Debt as of such day to (ii) EBITDA for the Computation Period ending on such day.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Equity Ratio means the ratio of Equity to Total Assets.

  • Liquidity Ratio means the ratio of Liquidity to all Indebtedness to Bank.

  • Cash Flow Ratio means, as at any date, the ratio of (a) the sum of the aggregate outstanding principal amount of all Indebtedness of the Company and the Restricted Subsidiaries determined on a consolidated basis, but excluding all Interest Swap Obligations entered into by the Company or any Restricted Subsidiary and one of the Banks outstanding on such date, plus (but without duplication of Indebtedness supported by letters of credit) the aggregate undrawn face amount of all letters of credit outstanding on such date to (b) Annualized Operating Cash Flow determined as at the last day of the most recent month for which financial information is available.

  • Debt to Equity Ratio means the ratio of the value of liabil- ities to equity, calculated according to s. 126.44 (8) (c) 2.

  • Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Senior Leverage Ratio means the ratio of (a) Consolidated Senior Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Total Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of (a) Total Debt as of such day to (b) EBITDA for the Computation Period ending on such day.

  • Secured Debt Ratio means the ratio of (a) Secured Debt to (b) Property Value plus, to the extent Secured Debt includes Funded Debt on Construction-in-Process, total construction costs incurred as of such date with respect to such Construction-in-Process.

  • Debt Ratio as at the last day of any fiscal quarter, the ratio of (a) Consolidated Total Debt minus Designated Cash Balances on such date to (b) Consolidated EBITDA.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Funded Debt to EBITDA Ratio means on any date the ratio of (a) Total Indebtedness to (b) EBITDA for the period of four consecutive Fiscal Quarters ended on such date (or, if such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter most recently ended prior to such date).

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

  • Net Debt to EBITDA Ratio means the ratio of Net Debt to EBITDA for the then most recently concluded fiscal year, subject to adjustments for Asset Dispositions and investments made during the period.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person at any date, the ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries as of such date (determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. In the event that the Company or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Company may elect, pursuant to an Officer’s Certificate delivered to the Trustee, that all or any portion of the commitment under any Secured Indebtedness as being Incurred at the time such commitment is entered into and any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be the creation or Incurrence of a Lien at such subsequent time. For purposes of making the computation referred to above, Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of the Restricted Subsidiaries has either determined to make or made after the Issue Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to reflect (1) net operating expense reductions and other net operating improvements or synergies reasonably expected to result from the applicable pro forma event (including, to the extent applicable, from the Transactions), and (2) all adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 5 to the “Summary historical and pro forma combined financial data” under “Summary” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period.

  • Consolidated Senior Secured Net Leverage Ratio means, for any Measurement Period, the ratio of (a) Consolidated Senior Secured Net Debt for Borrowed Money to (b) Consolidated EBITDA, in each case for such period.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.