Total Leverage definition

Total Leverage means, at any time, the ratio of (i) Total Debt of the Company to (ii) Pro Forma Annualized EBITDA.

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Total Leverage means the ratio of Total Net Interest Bearing Debt to EBITDA.

Total Leverage means, in respect of any period, the ratio of Total Debt on the last day of that period to Consolidated EBITDA in respect of that period.

Examples of Total Leverage in a sentence

• Permit the Consolidated Total Leverage Ratio to be greater than sixty percent (60%) as of the end of any fiscal quarter.

• The Borrower shall not permit the Total Leverage Ratio as of the last day of any four-quarter period to be greater than 4.00:1.00.

• The Borrowers will not permit the Total Leverage Ratio on the last day of any fiscal quarter to exceed 3.75 to 1.00.

• Notwithstanding the foregoing, the Credit Parties shall be permitted to increase the maximum Consolidated Total Leverage Ratio to sixty five percent (65%) for any fiscal quarter in which a Significant Acquisition occurs and for the two consecutive full fiscal quarters immediately thereafter.

• Each change in the Applicable Base Rate Margin or Applicable Eurocurrency Margin or the Applicable Commitment Fee Percentage as a result of a change in Crown Holdings’ Most Recent Total Leverage Ratio shall become effective on the date upon which such change in such ratio occurs.

More Definitions of Total Leverage

Total Leverage means, with respect to any Company and its Subsidiaries for any period, the ratio of (a) all Indebtedness as of the end of such period, less the amount of Eligible Cash as of the end of such period to (b) LTM EBITDA for such period, in each case, determined on a pro forma basis for incurrence or refinancing of any applicable Unsecured Debt.

Total Leverage at any date, the aggregate principal amount of all Funded Debt of the Borrower and its Restricted Subsidiaries at such date, minus cash, Cash Equivalents and Foreign Cash Equivalents held by the Borrower and its Restricted Subsidiaries on such date, in each case determined on a consolidated basis in accordance with GAAP.

Total Leverage total third party debt less cash and cash equivalents of Lion/Rally Lux 3 S.à ▇.▇. and its subsidiaries, adjusted to reflect a normalised level of net working capital minus any principal amounts and accrued but unpaid interest outstanding under the Notes, divided by Operating Group EBITDA for the most recently completed period of 12 months, pro forma as if the Proposed Acquisition (as defined in Clause 11.1) had occurred on the first day of the 12 month period;

Total Leverage total third party debt less cash and cash equivalents of the Company and its subsidiaries, adjusted to reflect a normalised level of net working capital minus any principal amounts and accrued but unpaid interest outstanding under the Notes, divided by Operating Group EBITDA for the most recently completed period of 12 months, pro forma as if the Acquisition had occurred on the first day of the 12 month period;

Total Leverage means, at any date, the sum of the (a) the aggregate amount of the Borrower’s Funded Debt outstanding on such date plus (b) the notional value of all total return swaps and other leveraged derivatives to which the Borrower is a party on such date, in each case calculated in accordance with generally accepted accounting principles.

Total Leverage is, for any period as at any date of determination, the ratio of (a) Borrower’s total consolidated Indebtedness as of such date, to (b) Borrower’s Adjusted EBITDA for such period.

Total Leverage has the meaning given to that term in paragraph 2.1 (Financial definitions) of Schedule 9 (Covenants).