Senior Secured Leverage Ratio means, as of the last day of any Testing Period, the ratio of Senior Secured Indebtedness as of such date to EBITDA for such Testing Period.

Senior Secured Leverage Ratio means, as of the date of determination, the ratio of (a) the Consolidated Total Indebtedness of the Company and its Subsidiaries as of the last day of the most recent Test Period ended on or prior to such date of determination, which Indebtedness is secured by Liens, less an amount equal to the amount of any cash and Permitted Investments of the Company and its Subsidiaries as of such date, to (b) EBITDA of the Company and its Subsidiaries for such Test Period.

Examples of Senior Secured Leverage Ratio in a sentence

During a Borrowing Base Trigger Period, the Borrower will not permit the First Lien Senior Secured Leverage Ratio as of the last day of each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending March 31, 2017 to be greater than 2.25 to 1:00.
Amend the Margin ratchet applicable to Facility B such that where the Consolidated Senior Secured Leverage Ratio is less than 2.75:1, the Margin applicable to Facility B will be per cent.
The Borrower will not permit the aggregate amount of Capital Expenditures made in any fiscal year period to exceed (i) for the 9-month period ended December 31, 2009, $95 million and (ii) thereafter, $70 million, unless after giving pro forma effect to such Capital Expenditures (x) the Senior Secured Leverage Ratio is less than or equal to 3.00 to 1.00 and (y) the Minimum Liquidity is greater than $50 million.
Unless compliance herewith is waived by the Majority Lenders under the Revolving Facility, the Borrower will not permit for any Test Period ending on the last date of any Fiscal Quarter, the Senior Secured Leverage Ratio to exceed 3.75 to 1.00.
Maximum Net Senior Secured Leverage Ratio (to be defined, but with netting to be capped at $10 million of unrestricted cash) of 3.50:1.00 (tested quarterly).

More Definitions of Senior Secured Leverage Ratio

Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (i) Consolidated Debt that is either (x) secured by any Lien or (y) is Indebtedness of the Borrower or any Subsidiary of the type referred to in clause (x) of the definition of such term (other than any such Indebtedness of Foreign Subsidiaries that are not secured by Liens) to (ii) Consolidated EBITDA for the most recently ended four Fiscal Quarters for which financial statements have been delivered pursuant to Section 7.1.

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

Senior Secured Leverage Ratio has the meaning assigned to such term in Section 6.12(c).

Senior Secured Leverage Ratio means at any date the ratio of (i) Total Indebtedness (plus, to the extent not otherwise reflected therein, any outstanding Deferred Amounts and minus, to the extent reflected therein, any outstanding unsecured Indebtedness and Acceptable Subordinated Loans) at such date to (ii) EBITDA for the period of four consecutive fiscal quarters most recently ended on or prior to such date, all determined for the Borrower and its Consolidated Subsidiaries on a consolidated basis.

Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Secured Debt as of the last day of the Test Period most recently ended on or prior to such date of determination to (b) Consolidated EBITDA for such Test Period.