Leverage Limit definition

Leverage Limit. As defined in Section 4.1(b)(ii).
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Leverage Limit means, at any particular time, an amount equal to 15% of the Total Asset Value at such time.
Sample 1
Leverage Limit means, as of any date of calculation, (i) the product of (a) EBITDA multiplied by (b) the Applicable Advance Multiple as of such date, minus (ii) outstanding Senior Funded Debt (other than the sum of the outstanding Revolving Loans, Swing Loans and L/C Obligations). For purposes of calculating the Leverage Limit as of any date of calculation, EBITDA shall be calculated for the twelve (12) month period ending on the date most recently ended for which financial statements described in Section 6.1(a) of Holdings and its Subsidiaries on a consolidated basis were delivered to Agent.
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Examples of Leverage Limit in a sentence

  • As soon as available and in any event within forty (40) days after the end of each Fiscal Quarter, Borrower will deliver a Leverage Limit Certificate (in substantially the same form as Exhibit 6.2(d), the “Leverage Limit Certificate”) as at the last day of such period.

  • As long as any shares of Convertible Preferred Stock are outstanding, the Corporation shall comply with all of the following financing requirements: The ratio of the Corporation's Indebtedness to the Corporation's book net worth (calculated in accordance with generally accepted accounting principles ("GAAP")) shall not exceed the lesser of (x) 4.5 to 1.0 and (y) the Weighted Average Leverage Limit, calculated on the last day of each calendar quarter.

  • At all times the Unsecured Debt of the Consolidated Parties shall not exceed the Unsecured Leverage Limit of the Consolidated Parties.

  • In addition, the Section 1270.5 Leverage Limit will terminate pursuant to the Regulations on the Effective Date.

  • Otherwise, the ratio of the Corporation's Indebtedness to the Corporation's book net worth (calculated in accordance with generally accepted accounting principles ("GAAP")) shall not exceed the lesser of (x) 4.5 to 1.0 and (y) the Weighted Average Leverage Limit, calculated on the last day of each calendar quarter.

  • Subject to the provisions of this Agreement, the Borrower may avail itself of the Credit by borrowing an amount not exceeding the Leverage Limit, provided that at no time shall the aggregate amount outstanding hereunder exceed the Liquidity Limit at such time.

  • For the purposes of this Section 2(b), an amount equal to any requested Loans identified in a Drawdown Notice shall be deemed to be Fund Property for the purpose of calculating the Leverage Limit and the Liquidity Limit.

  • If (x) the aggregate amount outstanding hereunder immediately following any borrowing under the Credit or as at the last day of any fiscal quarter of the Borrower exceeds the Leverage Limit at such time or (y) if the aggregate amount outstanding hereunder at any time exceeds the Liquidity Limit at such time, the Borrower shall pay the amount of such excess (the "Credit Excess") to the Bank forthwith upon demand.

  • The Bank is currently permitted to include a designated amount of its subordinated notes, as discussed in “Note 15 – Subordinated Notes” on page F-40 of the Bank’s Form 10-K, when calculating compliance with the applicable Section 1270.5 Leverage Limit.


More Definitions of Leverage Limit

Leverage Limit means 50% of Index Level; “Leverage Tolerance Limit” means 55% of Index Level; “Leverage Ratio” means:LC (t)IL(t) LC(t) = the Leverage Component on Trading Day t; and IL(t) = the Index Level on trading Day t;
Sample 1
Leverage Limit means 50% of Index Level; “Leverage Tolerance Limit” means 55% of Index Level; “Leverage Ratio” means:LC(t)NA LC(t) = the Leverage Component on Trading Day t; and NA = the Nominal Amount,
Sample 1

Related to Leverage Limit

  • Leverage means the aggregate amount of indebtedness of the Company for money borrowed (including purchase money mortgage loans) outstanding at any time, both secured and unsecured.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Lower explosive limit (LEL) means the concentration of a compound in air below which a flame will not propagate if the mixture is ignited.

  • Weighted Average Life Test means a test that is satisfied at any such time if the Weighted Average Life as calculated on the date of determination is less than or equal to 5.5 years.

  • Consolidated First Lien Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date that is secured on a first lien basis by assets or properties of Holdings or any Subsidiaries to (b) Consolidated EBITDA of Holdings and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Weighted Average Life means, as of any date, with respect to any debt security, the quotient obtained by dividing (i) the sum of the products of the number of years from such date to the dates of each successive scheduled principal payment (including any sinking fund payment requirements) of such debt security multiplied by the amount of such principal payment, by (ii) the sum of all such principal payments.

  • Dose limits means the permissible upper bounds of radiation doses established in accordance with these rules. For purposes of these rules, “limits” is an equivalent term.

  • Threshold Percentage means 15%.

  • Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.

  • Bag limit means the maximum number of game animals, game

  • Remaining Weighted Average Life of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note.

  • Average Life Date means, for each Equipment Note to be redeemed, the date which follows the redemption date by a period equal to the Remaining Weighted Average Life at the redemption date of such Equipment Note. “Remaining Weighted Average Life” of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • Debt to Capitalization Ratio means, with respect to the Borrower, as of any date of determination, the ratio of (a) Total Debt for the Borrower as of such date to (b) Total Capitalization for the Borrower as of such date.

  • Weighted Average Life to Maturity means, when applied to any Indebtedness at any date, the number of years obtained by dividing (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment, by (ii) the then outstanding principal amount of such Indebtedness.

  • Total Funded Debt means all Funded Debt of the Borrower and its Consolidated Subsidiaries, on a consolidated basis, as determined in accordance with GAAP.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Debt to Cash Flow Ratio means, with respect to any Person as of any date of determination, the ratio of (a) the Consolidated Indebtedness of such Person as of such date, less cash and Cash Equivalents, to (b) the Consolidated Cash Flow of such Person for the four most recent full fiscal quarters ending immediately prior to such date for which internal financial statements are available. For purposes of making the computation referred to above:

  • Covered Debt Amount means, with respect to a Borrower, on any date, (a) all of the Revolving Credit Exposures of all Lenders to such Borrower on such date plus (b) the aggregate amount of outstanding Other Secured Indebtedness of such Borrower and the other members of its Obligor Group on such date plus (c) the aggregate amount of any Indebtedness of such Borrower and the other members of its Obligor Group incurred pursuant to Section 6.01(g) plus (d) the aggregate principal amount of (i) solely with respect to CCT (or any successor), the CCT 2022 Notes, (ii) solely with respect to FSIC (or any successor), the FSIC Notes and (iii) with respect to each Borrower, all Special Longer-Term Unsecured Indebtedness of such Borrower and the other members of its Obligor Group, solely to the extent that such CCT 2022 Notes, FSIC Notes and Special Longer-Term Unsecured Indebtedness, as applicable, are within 9 months prior to the scheduled maturity or earlier redemption date of such Indebtedness plus (e) any portion of any Unsecured-Longer Term Indebtedness that is subject to a contractually scheduled amortization payment, other principal payment or redemption (other than any conversion into Permitted Equity Interests) earlier than the scheduled maturity date of such Indebtedness, but only to the extent of such portion and beginning upon the date that is the later of (i) 9 months prior to such scheduled amortization payment, other principal payment or redemption and (ii) the date such Borrower becomes aware that such Indebtedness is required to be paid or redeemed, plus (f) Hedging Agreement Obligations (as defined in the Guarantee and Security Agreement to which such Borrower is a party) (other than Hedging Agreement Obligations arising from Hedging Agreements entered into pursuant to Section 6.04(c)) minus (g) the LC Exposures with respect to such Borrower fully cash collateralized on such date pursuant to Section 2.04(k) and the last paragraph of Section 2.08(a) or otherwise backstopped in a manner satisfactory to the relevant Issuing Bank in its sole discretion.

  • Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The current expense limitation agreement expires on the date specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. Fund Limit on Other Expenses Expiration Date of Expense Limit Greater China Opportunities Fund 0.30% February 28, 2017 Value Equity Fund1 0.04% February 28, 2018 1 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the contractual limit on other expenses (0.04%) for Value Equity Fund with an expiration date of February 28, 2018, effective July 1, 2016. APPENDIX G Fund Level Contractual Investment Management Fee Waivers The Adviser agrees to limit Jxxx Hxxxxxx Money Market Fund’s management fee to a maximum annual rate of 0.40% of the Fund’s average daily net assets. The limitation will continue until at least July 31, 2017.* * At the March 8-10, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to July 31, 2017) of the management fee limitation, effective upon the current expiration date of July 31, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Value Equity Fund’s management fee to a maximum annual rate of 0.66% of the Fund’s average daily net assets. The limitation will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the lowering of the advisory fee cap (to 0.66%) and the extension of the expiration date (to February 28, 2018) of the management fee limitation, each effective July 1, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Government Income Fund’s management fee to a maximum annual rate of 0.53% of the Fund’s average daily net assets. The limitation will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the management fee limitation, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Xxxxxxx Xxxx Fund’s management fee by an annual rate of 0.05% of the Fund’s average daily net assets. The reduction will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the advisory fee waiver, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Hxxxxxx Enduring Assets Fund’s management fee by an annual rate of 0.20% of the Fund’s average daily net assets. The reduction will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the advisory fee waiver (0.20%) for Jxxx Hxxxxxx Enduring Assets Fund with an expiration date of February 28, 2018, effective July 1, 2016.

  • Total risk-based capital ratio means the Total Risk-Based Capital Ratio determined in accordance with the rules and regulations of the appropriate Regulatory Authority as from time to time in effect, and any successor or other regulation or official interpretation of said Regulatory Authority relating thereto.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Average monthly discharge limitation means the highest allowable average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during that month.