Ratio Requirement definition

Ratio Requirement means, with respect to the incurrence of any applicable Indebtedness, Disqualified Stock or preferred stock, the requirement that, on a Pro Forma Basis, after giving effect to such incurrence, (A) if the Liens securing such Indebtedness, Disqualified Stock or preferred stock are pari passu with the Liens on the Collateral securing the Notes, then (I) the Consolidated First Lien Debt Ratio does not exceed either (x) 4.05 to 1.00 or (y) at the election of the Issuer, if such Indebtedness, Disqualified Stock or preferred stock is incurred in connection with a Permitted Investment, the Consolidated First Lien Debt Ratio in effect immediately prior the consummation of such transaction or (II) if such Indebtedness, Disqualified Stock or preferred stock is incurred in connection with a Permitted Investment, the Fixed Charge Coverage Ratio would have been at least the Fixed Charge Coverage Ratio in effect immediately prior to the consummation of such transaction, (B) if the Liens securing such Indebtedness, Disqualified Stock or preferred stock are junior to the Liens on the Collateral securing the Notes, then the Consolidated Senior Secured Debt Ratio does not exceed either (x) 4.05 to 1.00 or (y) at the election of the Issuer of such Indebtedness, Disqualified Stock or preferred stock is incurred in connection with a Permitted Investment, the Consolidated Secured Debt Ratio in effect immediately prior the consummation of such transaction or (C) if such Indebtedness, Disqualified Stock or preferred stock is unsecured, the Fixed Charge Coverage Ratio is no less than 2.00 to 1.00.
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Ratio Requirement means, with respect to the incurrence of any applicable Indebtedness, Disqualified Stock or preferred stock, the requirement that, on a Pro Forma Basis, after giving effect to such incurrence, (A) if the Liens securing such Indebtedness, Disqualified Stock or preferred stock are pari passu with the Liens on the Collateral securing the Secured Notes, then the Consolidated First Lien Debt Ratio does not exceed 4.05 to 1.00, (B) if the Liens securing such Indebtedness, Disqualified Stock or preferred stock are junior to the Liens on the Collateral securing the Secured Notes, then the Consolidated Senior Secured Debt Ratio does not exceed 4.05 to 1.00 or (C) if such Indebtedness, Disqualified Stock or preferred stock is unsecured, the Fixed Charge Coverage Ratio is no less than 2.00 to 1.00.
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Ratio Requirement means, with respect to the incurrence of any applicable Indebtedness, Disqualified Stock or preferred stock, the requirement that, on a Pro Forma Basis, after giving effect to such incurrence, (i) (A) the Consolidated First Lien Debt Ratio does not exceed either (x) 3.10 to 1.00 or (y) at the election of the Issuer if such Indebtedness, Disqualified Stock or preferred stock is incurred in connection with a Permitted Investment, the Consolidated First Lien Debt Ratio in effect immediately prior to the consummation of such transaction or (B) if the Liens securing such Indebtedness, Disqualified Stock or preferred stock are junior to the Liens on the Collateral securing the Notes or if such Indebtedness, Disqualified Stock or preferred stock is unsecured, the Fixed Charge Coverage Ratio is no less than either (x) 2.00 to 1.00 or (y) at the election of the Issuer if such Indebtedness, Disqualified Stock or preferred stock is incurred in connection with a Permitted Investment, the Fixed Charge Coverage Ratio in effect immediately prior to the consummation of such transaction or (ii) the Fixed Charge Coverage Ratio is no less than the Fixed Charge Coverage Ratio in effect immediately prior to the consummation of such transaction.
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Examples of Ratio Requirement in a sentence

  • For State Fiscal Year 2016, the total annual capitation payment made to the Contractor for Non-ACA Expansion Members and their associated healthcare costs shall be evaluated against an eighty-five (85) percent Minimum Medical Loss Ratio Requirement to determine whether a Payment Adjustment is warranted.

  • Such payment shall be reduced in an amount which, after giving effect to such payment, would cause the Company to be in compliance with the Free Cash Flow Coverage Ratio Requirement on a pro forma basis.

  • The Acquired Companies transferred, or caused to be transferred to the Trust -- and, to Sellers' Knowledge, the Trustee has -- good record title to sufficient Vacation Interests and Beneficial Use Rights to comply with the terms and provisions of the Trust Agreement and to maintain the One-to-One Member to Vacation Interest Ratio Requirement.

  • The Serial Bond Ratio Requirement need not be met at the time of issuance of the Eligible Bonds if a required amount of the net proceeds of the Eligible Bonds is set aside with the trustee of the Eligible Bonds in an escrow pending the delayed issuance of Serial Bonds (“Escrow”).

  • In order for the Customer to inject or withdraw intended quantities of gas it must gross up its Storage Nominations to account for the Fuel Ratio Requirement and any applicable UFG Requirement.

  • Each of the parties hereto agrees that, effective as of the Waiver Effective Date (as defined below), and solely in connection with the Proposed Bond Issuance, the Lenders party hereto, which together constitute the Required Lenders, hereby consent to the Proposed Bond Issuance and the Capped Call Transactions and waive the obligation of the Borrower to comply with the Unsecured Indebtedness Covenant Ratio Requirement.

  • The aggregate net proceeds of the Eligible Bonds and all related Serial Bonds (whether issued simultaneously with the Term Bonds or on a delayed issuance basis as provided below), sized in accordance with the Serial Bond Ratio Requirement, may not exceed the reasonable expectations requirement applicable to tax-exempt mortgage revenue bonds.

  • If and when an HFA issues Serial Bonds on a delayed issuance basis (each, a “Reset Date”) and delivers to the bond indenture trustee and the GSEs a related certificate of Serial Bond issuance and calculation of the release amount pursuant to the Serial Bond Ratio Requirement, Escrowed Proceeds will be released simultaneously from the Escrow to such HFA in an amount equal to the net proceeds of the Serial Bonds then issued multiplied by 1.5.

  • No later than five (5) Business Days after the delivery of the financial statements referred to in Sections 6.1(a), the Borrower shall deliver a duly completed Compliance Certificate substantially in the form attached hereto as Exhibit F, demonstrating compliance with the Leverage Ratio Requirement as well as such calculations as are necessary to determine the Total Leverage Ratio.

  • Such Reconciliation Statement shall also include calculations and computations, in all respects satisfactory to the Company, demonstrating compliance with the Free Cash Flow Coverage Ratio Requirement as of and for the following four Fiscal Quarters on a pro forma basis after giving effect to the Adjusted Advisor Payment.


More Definitions of Ratio Requirement

Ratio Requirement means, with respect to the incurrence of any applicable Indebtedness, Disqualified Stock or preferred stock, the requirement that, on a Pro Forma Basis, after giving effect to such incurrence, the Consolidated Senior Secured Debt Ratio does not exceed 4.05 to 1.00.
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