Specified Ratio definition
Specified Ratio means, at any particular time, that ratio which is determined by the following formula:
Specified Ratio means a fraction, the numerator of which is the number of days following the Effective Date through February 1, 2018, and the denominator of which is 365; provided that if the Effective Date occurs on or following November 1, 2017, then (A) the Initial Annual Grant shall occur on the first Annual Grant Date thereafter and (B) the Specified Ratio for such grant shall mean a fraction, the numerator of which is (1) 365 plus (2) the number of days following the Effective Date through February 1, 2018, and the denominator of which is 365. In the event the Effective Date occurs prior to November 1, 2017 and the first Annual Grant Date thereafter occurs following February 1, 2018, WestRock shall grant Executive long-term incentive compensation in an amount and subject to such terms and conditions as the Board (or a committee thereof or delegated executive) shall determine appropriate to compensate Executive for the Specified Ratio having been calculated based on an assumed Annual Grant Date of February 1, 2018.
Specified Ratio means, at any time, the ratio of Consolidated Debt to the sum of (i) Consolidated Debt and (ii) Consolidated Net Worth (in each case based on the financial information most recently furnished pursuant to Section 5.01). For purposes of this definition,
Examples of Specified Ratio in a sentence
Maintain at all times a ratio of Adjusted Consolidated Debt to Total Capitalization of not more than the lesser of (a) 0.50 to 1 or (b) the Specified Ratio.
For purposes of the foregoing, the Specified Ratio shall be the greater of 0.35 to 1 or the ratio determined by multiplying 1.25 times the numerator of the lowest ratio of Adjusted Consolidated Debt to Total Capitalization as of the last day of any fiscal quarter of the Parent after completion of the Acquisition.
For the purposes of the foregoing, the Specified Ratio shall be the greater of 0.35 to 1 or the ratio determined by multiplying 1.25 times the numerator of the lowest ratio of Adjusted Consolidated Debt to Total Capitalisation as of the last day of any fiscal quarter of the Account Party after completion of the Acquisition.
More Definitions of Specified Ratio
Specified Ratio. Tath▇▇ ▇▇▇version Event", "Tath▇▇ ▇▇▇version Notice", "Tath▇▇ ▇▇▇version Offer", and "Tath▇▇ ▇▇▇version Purchase Date" from Section 1.02 thereof, and by deleting all references thereto in the Indenture.
Specified Ratio means, as of any date of determination, a Consolidated Total Leverage Ratio of (A) on or prior to December 31, 2020, 4.50:1.00, (B) on and after January 1, 2021 through and including December 31, 2021, 4.25:1.00 and (C) thereafter, 4.00:1.00.
Specified Ratio. Eurodollar/Eurocurrency Facility Fee Loan Spread Rate Less than or equal to 0.30 0.25% .2500% Greater than 0.30 but less than or 0.25% .2750% equal to 0.40 Greater than 0.40 0.275% .3000%
Specified Ratio means the ratio derived from dividing the minimum interval by the maximum duration, and applies only to the High Operating Ranges.
Specified Ratio means (A) on or prior to December 31, 2020, 4.50:1.00, (B) on and after January 1, 2021 through and including December 31, 2021, 4.25:1.00 and (C) thereafter, 4.00:1.00; provided, that, if the total debt to EBITDA covenant level then in effect under the Amended Existing Prepetition Credit Agreement is lower than the applicable ratio set forth above, the Specified Ratio shall mean the total debt to EBITDA covenant level then in effect under the Amended Existing Prepetition Credit Agreement. Section 7.02(l) Deleted in its entirety along with related definitions and other related provisions in the Existing Prepetition Credit Agreement Section 7.03(g) Permitted Acquisitions to be subject to a $25,000,000 pro forma Liquidity test. Section 7.03(h) Permitted Portfolio Purchases to be subject to a $25,000,000 pro forma Liquidity test Section 7.06(f) Change “$25,000,000” to “$15,000,000”; such cap to be an aggregate cap shared under Section 7.06(f) and new Section 7.18 set forth below Also subject to a $50,000,000 pro forma Liquidity test Sections 7.11-7.12 To be deleted in their entirety along with related definitions and other related provisions in the Existing Prepetition Credit Agreement Section 7.18 Existing Section 7.18 to be replaced with a covenant restricting principal payments of indebtedness (other than (x) the Credit Facilities and (y) capital leases); provided, that, the following payments shall be permitted: (i) scheduled payments of principal under the Amended Existing Prepetition Credit Agreement 1 in an aggregate amount not to exceed $2,056,250 in any quarter and (ii) optional prepayments of such indebtedness (each such optional prepayment subject to (x) a pro forma minimum Liquidity test of
Specified Ratio means, as of any date of determination, a Consolidated Total Leverage Ratio of (A) on or prior to December 31, 2020, 4.50:1.00, (B) on and after January 1, 2021 through and including December 31, 2021, 4.25:1.00 and (C) thereafter, 4.00:1.00; provided that, if the maximum Consolidated Total Leverage Ratio (as defined in the Takeback Loan Agreement, the “Takeback Ratio Level”) under the Takeback Loan Agreement is, at the time of calculation of the Specified Ratio, lower than the applicable maximum Consolidated Total Leverage Ratio set forth above, the Specified Ratio shall mean Takeback Ratio Level then in effect under the Takeback Loan Agreement.
Specified Ratio means, at any time, the ratio of Consolidated Debt to the sum of (i) Consolidated Debt and (ii) Consolidated Net Worth (in each case based on the financial information most recently furnished pursuant to Section 5.01). For purposes of this definition, the terms "Consolidated Debt"