Ratio Incremental Amount definition
Ratio Incremental Amount has the meaning set forth in the definition of “Incremental Amount.”
Ratio Incremental Amount as defined in the definition of “Incremental Cap”.
Ratio Incremental Amount has the meaning set forth in Section 2.14(d)(v).
Examples of Ratio Incremental Amount in a sentence
The Borrower may, in its sole discretion, at the time of incurrence of any Incremental Facility, or at any later time, divide, classify or reclassify, any Incremental Facility incurred as Fixed Incremental Amount as an Incremental Facility incurred as Ratio Incremental Amount.
Unless the Borrower elects otherwise, each Incremental Facility will be deemed incurred first under the Ratio Incremental Amount to the extent permitted, with the balance incurred under the Fixed Incremental Amount.
Incur (i)(x) any Incremental Term Loans or (y) any Incremental Equivalent Debt, in each case, in reliance on the Ratio Incremental Amount or (ii) or any Indebtedness pursuant to Section 7.02(n) or (s), unless in each case after giving effect thereto on a Pro Forma Basis, the Total Net Leverage Ratio does not exceed 5.00:1.00.
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It is understood and agreed that the Parent Borrower may first incur any Incremental Term Loan, establish any increase to the Commitments and/or incur any Incremental Equivalent Indebtedness in reliance on the Ratio Incremental Amount prior to incurring Incremental Term Loans, establishing increases to the Commitments and/or incurring Incremental Equivalent Indebtedness in reliance on the Fixed Incremental Amount.
More Definitions of Ratio Incremental Amount
Ratio Incremental Amount means an unlimited amount of Indebtedness, Disqualified Stock and preferred stock so long as the Ratio Requirement is satisfied.
Ratio Incremental Amount means, at any date, an aggregate principal amount that would not result in (i) with respect to any Incremental Term Loans or Incremental Equivalent Debt secured on a pari passu basis with the Liens securing the Obligations, on a Pro Forma Basis the Total Secured Net Leverage Ratio for the applicable Calculation Period exceeding 2.00:1.00, (ii) with respect to any Incremental Term Loans or Incremental Equivalent Debt that is secured on a junior basis to the Liens securing the Obligations, on a Pro Forma Basis the Total Secured Net Leverage Ratio for the applicable Calculation Period exceeding 2.00:1.00 or (iii) with respect to any Incremental Term Loans or Incremental Equivalent Debt that is unsecured, on a Pro Forma Basis the Interest Coverage Ratio for the applicable Calculation Period being less than 2.00:1.00.
Ratio Incremental Amount means, at any time, the maximum amount of Debt that could be incurred at such time by Borrower so long as on a pro forma basis, after giving effect to the incurrence of any applicable Incremental Term Loan Commitment, (a) in the case of secured Debt, the Senior Secured Net Leverage Ratio does not exceed 2.50:1.00 (as calculated by Borrower in a Compliance Certificate executed and delivered by Borrower to Agent) and (b) in all other cases, the Ratio Debt Test is satisfied.
Ratio Incremental Amount means, the maximum amount, if any, such that immediately after giving effect to the incurrence of the applicable Incremental Term Facility or Permitted Incremental Equivalent Debt on a Pro Forma Basis (for purposes of the calculations set forth below, (x) assuming that the full amount of the commitments under such Incremental Term Facility or Permitted Incremental Equivalent Debt are fully drawn on the date of incurrence thereof and (y) excluding the proceeds of such Incremental Term Facility or Permitted Incremental Equivalent Debt from the cash netting in the numerator of the Consolidated First Lien Net Leverage Ratio, Consolidated Senior Secured Net Leverage Ratio and Consolidated Total Net Leverage Ratio, as applicable):
Ratio Incremental Amount shall have the meaning assigned to such term in Section 2.24(a).
Ratio Incremental Amount has the meaning assigned to such term in the definition of “Maximum Incremental Amount”. “Ratable Portion” means, with respect to any Lender under any Term Loan Facility, the percentage obtained by dividing the amount of Term Loans held by such Lender under such Term Loan Facility by the aggregate amount of Term Loans of all Lenders under such Term Loan Facility. “Receivables Facility” means one or more receivables financing facilities, in each case, as amended, supplemented, modified, extended, increased, renewed, restated, refunded, replaced or refinanced from time to time, the Indebtedness of which is non-recourse (except for Standard Receivables Facility Undertakings) to the Borrower and its Restricted Subsidiaries, other than any Receivables Subsidiary, pursuant to which the Borrower or any of its Restricted Subsidiaries sells its accounts, payment intangibles and related assets to either (a) a Person that is not a Restricted Subsidiary or (b) a Receivables Subsidiary that in turn either (1) sells its accounts, payment intangibles and related assets to a Person that is not a Restricted Subsidiary or (2) borrows against its accounts, payment intangibles and related assets from a Person that is not a Restricted Subsidiary. “Receivables Facility Repurchase Obligation” means any obligation of the Borrower or a Restricted Subsidiary that is a seller of assets in a Receivables Facility to repurchase the assets it sold thereunder as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. “Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. “Receivables Subsidiary” means any Subsidiary formed solely for the purpose of engaging, and that engages only, in one or more Receivables Facilities. “Refinancing Agreement” means an amendment to this Agreement that is reasonably satisfactory to the Agent and the Borrower executed by each of (a) the Borrower and the other Loan Parties, (b) the Agent and (c) one or more Lenders providing a Refinancing Term Loan. “Refinancing Commi...
Ratio Incremental Amount an aggregate principal amount of Indebtedness that, immediately after the incurrence thereof on Pro Forma Basis, would not result in the Borrower’s Consolidated Net Leverage Ratio being greater than 2.22.75:1.00 (assuming, in each case, that (a) the full amount of any Revolving Facility Increase incurred at such time is fully drawn and (b) the proceeds of any such Incremental Facility incurred at such time shall not be netted from Consolidated Funded Indebtedness for purposes of calculating the Ratio Incremental Amount).