Incurrence Ratio Sample Clauses
The Incurrence Ratio clause defines a financial metric used to assess the relationship between claims incurred and premiums earned over a specific period. In practice, this clause typically applies to insurance contracts, where it helps measure the insurer's loss experience by comparing the total value of claims made to the total premiums collected. By establishing a clear method for calculating this ratio, the clause enables both parties to monitor financial performance and risk exposure, ensuring transparency and facilitating informed decision-making regarding pricing, reserves, or contract renewals.
Incurrence Ratio. Incur (i)(x) any Incremental Term Loans or (y) any Incremental Equivalent Debt, in each case, in reliance on the Ratio Incremental Amount or (ii) or any Indebtedness pursuant to Section 7.02(n) or (s), unless in each case after giving effect thereto on a Pro Forma Basis, the Total Net Leverage Ratio does not exceed 5.00:1.00. The provisions of this Section 7.17 are for the benefit of the Revolving Credit Lenders only, and, notwithstanding anything to the contrary set forth in Section 10.01, the Required Revolving Lenders may (a) amend, waive or otherwise modify this Section 7.17, or the defined terms used in this Section 7.17 solely for purposes of the way such terms are used in this Section 7.17, or (b) waive any Default or Event of Default resulting from a breach of this Section 7.17, in each case under the foregoing clauses (a) and (b), without the consent of any Lenders other than the Required Revolving Lenders in accordance with the provisions of Section 10.01.
Incurrence Ratio. During any fiscal quarter of the Borrowers, the minimum permitted Fixed Charge Coverage Ratio as at the end of the most recently ended fiscal quarter as set forth in §11.2, after increasing the numerator of such ratio by 0.15.
Incurrence Ratio. As at any date of determination, the maximum Leverage Ratio permitted under §11.1 as at the end of the most recently ended Reference Period for which the Borrowers have delivered a Compliance Certificate, less 0.15.
Incurrence Ratio. During any fiscal quarter of the Borrowers, the maximum permitted Leverage Ratio as at the end of the most recently ended fiscal quarter as set forth in Section 11.1, after reducing the numerator of such ratio by 0.15.