Senior Net Leverage definition

Senior Net Leverage means, in respect of any Relevant Period, the ratio of Senior Total Net Debt on the last of that Relevant Period to EBITDA in respect of that Relevant Period.
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Senior Net Leverage. Senior Net Leverage in respect of any Relevant Period specified in column 1 below shall not exceed the ratio set out in column 2 below opposite that Relevant Period Column 1 Relevant Period Column 2 Ratio
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Examples of Senior Net Leverage in a sentence

  • Amounts denominated in a Permitted Foreign Currency will be converted to dollars for the purposes of calculating the Senior Net Leverage Ratio at the Exchange Rate as of the date of calculation.

  • Cause Loan Parties on a Consolidated Basis to maintain as of the end of the fiscal quarter ending September 30, 2021 and as of the end of each fiscal quarter ending thereafter, a Senior Net Leverage Ratio tested as of such date of not greater than 2.50 to 1.00.

  • The Company will not permit the Consolidated Senior Net Leverage Ratio as of the last day of any Reference Period to be greater than 3.00:1.00.

  • For any fiscal quarter ending after the Financial Covenant Trigger Date, permit the Consolidated Senior Net Leverage Ratio, as calculated at the last day of such fiscal quarter for the period of twelve consecutive months then ending, to be more than 3.50:1.00.

  • Deleting the definitions of “Consolidated Senior Net Leverage Ratio” and “Consolidated Total Net Leverage Ratio”.

  • At all times following the date on which the aggregate outstanding amount of all Advances hereunder first exceeds $60,000,000 (including amounts outstanding under the Swing Line or Letter of Credit sublimits of the Revolving Credit) maintain a Consolidated Senior Net Leverage Ratio of not more than 3.00 to 1.00, tested as of the end of each fiscal quarter, for the twelve month period ending on such date.

  • Commencing September 30, 2025, and as of the last day of each calendar quarter thereafter, the Borrowers will not permit the Consolidated Senior Net Leverage Ratio to be greater than 3.00 to 1.00.

  • Borrowers shall maintain a Senior Net Leverage Ratio of 2.50:1:00, which shall be tested as of the last day of each fiscal quarter of Borrowers and be measured on a trailing-twelve-month basis.

  • The Credit Parties will not permit the Senior Net Leverage Ratio of the Credit Parties and their Subsidiaries to be greater than 4.25 to 1.00 as of the last day of any Testing Period.

  • Each Step-Up Period shall end on the earlier of (i) the last day of any Testing Period for which the Senior Net Leverage Ratio no longer exceeds 3.50 to 1.00 or (ii) the last day of the four consecutive fiscal quarter period described above.