Total Gross Leverage Ratio definition

Total Gross Leverage Ratio means, on any date, the ratio of Consolidated Gross Debt, as of such date, to EBITDA for the relevant Test Period, all determined on a consolidated basis.

Total Gross Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Gross Debt as of the last day of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period.

Total Gross Leverage Ratio. ’ means, with respect to any Person and its Subsidiaries for any period, the ratio of (a) all Indebtedness in respect of the Notes, the Remaining Term Loan and any other Indebtedness (excluding, for the avoidance of doubt, pension liabilities and any Indebtedness listed on Schedule 4.12(b) (other than any Permitted Refinancing Indebtedness in respect thereof)), in each case of such Person and its Subsidiaries on a consolidated basis outstanding as of the end of such period to (b) Consolidated EBITDA of such Person and its Subsidiaries for the period of four consecutive Fiscal Quarters then last ended for which financial statements have been (or were required to be) delivered pursuant to Section 4.11(a)(ii) or Section 4.11(a)(iii), as applicable. Unless otherwise specified, references to the ‘‘Total Gross Leverage Ratio’’ herein shall mean the Total Gross Leverage Ratio of the Company and its Subsidiaries.

Examples of Total Gross Leverage Ratio in a sentence

• Permit the Consolidated Total Gross Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Parent Borrower to exceed the 3.75 to 1.00.

• On the Funding Date, the Borrower and its Restricted Subsidiaries shall be in compliance, on a Pro Forma Basis, with a Total Gross Leverage Ratio of not greater than 8.00:1.00.

• For purposes of Section 7.06 and for any calculation of the Total Net Leverage Ratio, Total Gross Leverage Ratio, First Lienthe Secured Net Leverage Ratio, and the First Lien Net Leverage Ratio hereunder, amounts in currencies other than Dollars shall be translated into Dollars at the applicable exchange rates used in preparing the most recently delivered Section 6.01 Financials in accordance with GAAP.

• For purposes of Section 7.06 and for any calculation of the Total Net Leverage Ratio, Total Gross Leverage Ratio, First Lien Net Leverage Ratio, First Lien Leverage Ratio hereunder, amounts in currencies other than Dollars shall be translated into Dollars at the applicable exchange rates used in preparing the most recently delivered Section 6.01 Financials in accordance with GAAP.

• Upon the occurrence of the Financial Covenant Change Event, maintain, to be tested as of the last day of each calendar quarter, a Total Gross Leverage Ratio, on a trailing twelve (12) month basis, not to exceed 2:0 to 1:0.

More Definitions of Total Gross Leverage Ratio

Total Gross Leverage Ratio means, at any date of determination, the ratio of (x) Consolidated Debt for Borrowed Money of the Borrower and its Subsidiaries as at such date of determination to (y) Consolidated EBITDA of the Borrower and its Subsidiaries for the most recently ended fiscal quarter of the Borrower 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, and the immediately preceding three fiscal quarters.

Total Gross Leverage Ratio means, with respect to the Borrower on a consolidated basis, as of the end of any Test Period, the ratio of (a) Consolidated Funded Indebtedness of the Borrower as of the end of such Test Period to (b) Consolidated EBITDA of the Borrower for such Test Period.”

Total Gross Leverage Ratio means, on any date of determination, the ratio of (x) Consolidated Indebtedness on such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) for purposes of any calculation of the Total Gross Leverage Ratio pursuant to this Agreement, Consolidated EBITDA shall be determined on a Pro Forma Basis in accordance with clause (c) of the definition of "Pro Forma Basis" contained herein, (ii) for purposes of any calculation of the Total Gross Leverage Ratio pursuant to Sections 4.02(e), 6.09, 9.04(a), 9.04(p), 9.04(r), 9.05(l), 9.05(r) and 9.11(c), Consolidated Indebtedness shall be determined on a Pro Forma Basis in accordance with the requirements of the definition of "Pro Forma Basis" contained herein and (iii) if any Indebtedness or Lien is incurred in reliance on any provision measured by reference to the Total Gross Leverage Ratio, then any cash received from the incurrence of such proposed Indebtedness or Lien shall not be netted in the calculation of the Total Gross Leverage Ratio (but giving effect to any substantially concurrent prepayment of Indebtedness).

Total Gross Leverage Ratio herein shall mean the Total Gross Leverage Ratio of the Company and its Subsidiaries.

Total Gross Leverage Ratio means, as of any date of determination, the ratio of (a) Total Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently ended four-fiscal quarter period for which financial statements are available.“Total Net Leverage Ratio” means, as of any date of determination, the ratio of (a)(i) Total Funded Indebtedness as of such date, less (ii) all unrestricted cash and Cash Equivalents of the Borrowers and the Guarantors to (b) Consolidated EBITDA for the most recently ended four-fiscal quarter period for which financial statements are xxxxxxxxx.Xx the event that any additional OID or upfront fees are implemented pursuant to the “market flex” provisions of the Facilities Fee Letter, any Secured Net Leverage Ratio, Senior Secured Net Leverage Ratio, Total Gross Leverage Ratio or Total Net Leverage Ratio tests set forth in the Term Sheet shall be adjusted as mutually agreed to account for the additional interest expense or additional indebtedness and maintain the agreed cushion taking into account such additional interest expense or additional indebtedness.

Total Gross Leverage Ratio means, as of the Closing Date, the ratio of (a) Consolidated Indebtedness outstanding on the Closing Date to (b) Consolidated EBITDA for the Test Period ending December 31, 2015.

Total Gross Leverage Ratio means the ratio of (a) the aggregate Funded Debt of the Borrowers and their Subsidiaries net of the $10,000,000.00 that will be Cash Collateralized hereunder to (b) Consolidated EBITDA.