Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lender Parties pursuant to Section 5.03(b) or (c), as the case may be.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Secured Debt of the Parent and its Subsidiaries less the amount by which the aggregate Unrestricted Cash and Cash Equivalents of the Parent and its Subsidiaries at such time exceeds $10,000,000 (the “Secured Debt Leverage Ratio Adjustment”) to (b) Total Asset Value; provided that for purposes of clause (a), Unrestricted Cash and Cash Equivalents shall be adjusted to deduct therefrom any Unrestricted Cash and Cash Equivalents used to determine the Unsecured Leverage Ratio Adjustment.
Examples of Secured Debt Leverage Ratio in a sentence
Maintain at all times a Secured Debt Leverage Ratio of not greater than 40%.
Permit the Consolidated Secured Debt Leverage Ratio to be greater than forty percent (40%) as of the end of any fiscal quarter.
Permit the Consolidated Secured Debt Leverage Ratio as of the last day of any fiscal quarter of the Parent REIT to exceed 50%.
Maintain (A) at the end of each fiscal quarter of the Parent Guarantor and (B) on the date of each Advance and the issuance or renewal of any Letter of Credit (both before and after giving effect to such Advance), a Secured Debt Leverage Ratio not greater than 60.0%.
Permit the Consolidated Secured Debt Leverage Ratio to be greater than thirty percent (30%) as of the end of any fiscal quarter of the Parent.
More Definitions of Secured Debt Leverage Ratio
Secured Debt Leverage Ratio means, as of any date of determination, the ratio of:
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lenders pursuant to Section 5.03(b) or (c) as the case may be; provided, however, that secured Debt shall exclude, to the extent provided in Section 8.01(b), (i) the Debt evidenced by any Qualified Term Note held by the Administrative Agent, and (ii) the Debt evidenced by any Qualified Term Note held by the administrative agent or, if there is no administrative agent, the lender under any Senior Unsecured Bank Facility, so long as the Administrative Agent shall be a Qualified Unsecured Lender (as defined in the loan documentation for such Senior Unsecured Bank Facility) and the property encumbered by the Qualified Mortgage which evidences such Debt is not subject to any liens other than such Qualified Mortgage.
Secured Debt Leverage Ratio means, with respect to any Person, the ratio of the aggregate amount of all Secured Debt of such Person and its Restricted Subsidiaries at the end of the most recent fiscal period for which financial information in respect thereof is available immediately preceding the date of the transaction giving rise for the need to calculate Secured Debt Leverage Ratio to the aggregate amount of Consolidated Cash Flow for Fixed Charges of such Person for the Four Quarter Period preceding the transaction date.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Lender PartiesLenders pursuant to Section 5.03(b) or (c) as the case may be; provided, however, that secured Debt shall exclude, to the extent provided in Section 8.01(b), (i) the Debt evidenced by any Qualified Term Note held by the Administrative Agent, and (ii) the Debt evidenced by any Qualified Term Note (as defined in the Existing Term Loan Agreement) held by the administrative agent under the Existing Term Loan Agreementor, if there is no administrative agent, the lender under any Senior Unsecured Bank Facility, so long as the Administrative Agent shall be a Qualified Unsecured Lender (as defined in the Existing Term Loan Agreementloan documentation for such Senior Unsecured Bank Facility) and the property encumbered by the Qualified Mortgage which evidences such Debt is not subject to any liens other than such Qualified Mortgage (as defined in the Existing Term Loan Agreement).
Secured Debt Leverage Ratio means, on any determination, the ratio of Secured Consolidated Debt on such date to Adjusted EBITDA for the most recently completed four consecutive Financial Quarters ending on or prior to such date.
Secured Debt Leverage Ratio means, at any date of determination, the ratio, expressed as a percentage, of (a) Consolidated secured Debt of the Parent Guarantor and its Subsidiaries to (b) Total Asset Value, in each case as at the end of the most recently ended fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered to the Trustee pursuant to Section 3.01(b) or (c), as the case may be.
Secured Debt Leverage Ratio means, as of any date of determination, the ratio of (1) Consolidated Total Debt of the Company and its Restricted Subsidiaries that is secured by Liens (provided that in making such calculation, the lesser of (i) the amount of commitments (drawn or undrawn) under the U.S. Credit Facility at such date of determination and (ii) the “borrowing base” under the U.S. Credit Facility at such date of determination, shall be deemed outstanding and secured by a Lien and Debt permitted to be secured pursuant to clause (20)(a)(i) of the definition of “Permitted Liens” shall be deemed outstanding and secured by a Lien) (but excluding Debt secured only by Liens on the Collateral ranking junior to the Liens securing the Notes, the Note Guarantees and Obligations in respect thereof) to (2) the Company’s EBITDA for the four full fiscal quarters immediately prior to the determination date for which financial statements have been provided (or if not timely provided, required to be provided) pursuant to this Indenture (whether through filing of a Form 10-Q or a Form 10-K for such period or an earnings release filed on Form 8-K) or, in the case of periods prior to the Issue Date, filed with the Commission immediately preceding the date on which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Debt and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio”.