Maximum Secured Net Leverage Ratio Clause Samples

Maximum Secured Net Leverage Ratio. Permit the Secured Net Leverage Ratio to be greater than the ratio set forth opposite such period below: Period Ratio Closing Date through June 30, 2017 4.50 to 1.00 July 1, 2017 through June 30, 2018 4.25 to 1.00 July 1, 2018 and thereafter 4.00 to 1.00
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Maximum Secured Net Leverage Ratio. The Company shall not permit the Secured Net Leverage Ratio as of the last day of any fiscal quarter of the Company to be greater than 4.00:1.00 (subject to the Collateral Release Adjustment and the Acquisition Step-Up).
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Maximum Secured Net Leverage Ratio. The Borrower will not permit the Secured Net Leverage Ratio, determined as of the last day of any fiscal quarter of the Borrower ended after the Effective Date to be greater than 3.50 to 1.00; provided that during a Covenant Holiday Period, the foregoing threshold shall be increased to 4.00 to 1.00.
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Maximum Secured Net Leverage Ratio. Permit the Secured Net Leverage Ratio as of the last day of any fiscal quarter ending during a period set forth below to be greater than the ratio set forth opposite such period below: Period Ratio December 31, 2013 through December 31, 2015 4.50 to 1.00 January 1, 2016 through December 31, 2016 4.25 to 1.00 Thereafter 4.00 to 1.00 The provisions of this Section 6.13 are solely for the benefit of the Revolving Credit Lenders, the 2019 Term A Lenders and any Lenders having Other Term A Loans and, notwithstanding the provisions of Section 9.08, the Required Covenant Lenders may (i) amend or otherwise modify Section 6.13 or, solely for purposes of Section 6.13, the defined terms used, directly or indirectly, therein, or (ii) waive any non-compliance with Section 6.13 or any Event of Default resulting from such non-compliance, in each case without the consent of any other Lenders.
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Maximum Secured Net Leverage Ratio. The Borrower will not permit the Secured Net Leverage Ratio, determined as of the last day of any fiscal quarter of the Borrower ended after the Effective Date to be greater than 3.50 to 1.00; provided that during a Covenant Holiday Period, the foregoing threshold shall be increased to 4.00 to 1.00.
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Related to Maximum Secured Net Leverage Ratio

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

  • Maximum Leverage Ratio The Borrower will not permit the Leverage Ratio as of the end of any fiscal quarter to be greater than 0.55 to 1.00.

  • Total Net Leverage Ratio Holdings and its Restricted Subsidiaries, on a consolidated basis, shall not permit the Total Net Leverage Ratio on the last day of any Test Period to exceed the ratio set forth below opposite the last day of such Test Period:

  • Maximum Total Leverage Ratio 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. Notwithstanding the foregoing: (a) for purposes of calculating the Total Leverage Ratio, until the earlier of (i) the consummation of a Specified Acquisition and (ii) termination of the acquisition agreement related to such Specified Acquisition, the Total Leverage Ratio shall not include any Indebtedness of the Borrower or the Guarantors to the extent that (x) such Indebtedness was incurred solely to finance such Specified Acquisition (and any related transactions) and the proceeds of such indebtedness are held as cash or cash equivalents in an escrow or equivalent arrangement (pending the consummation of such Specified Acquisition) and (y) such Indebtedness is redeemable or prepayable at no more than 101% of the principal amount thereof (plus accrued interest) in the event that the Specified Acquisition is not consummated; and (b) upon the Administrative Agent’s receipt of a written notice substantially in the form of Exhibit F hereto (a “Specified Acquisition Notice”), the Total Leverage Ratio as of the last day of any period for the four-quarter period beginning with the period in which such Specified Acquisition is consummated (such period in which the Specified Acquisition is consummated, the “Specified Acquisition Consummation Period”) and continuing through the fourth consecutive fiscal quarter ended immediately following the first day of the Specified Acquisition Consummation Period shall not exceed 4.50:1.00 (in lieu of the ratio set forth for such period above); provided that (i) the Borrower may deliver a Specified Acquisition Notice no more than three times during the life of this Agreement and (ii) after any Specified Acquisition Consummation Period, the Borrower must have a Total Leverage Ratio of no more than 4.00:1.00 for at least two consecutive fiscal quarters before the Borrower may elect to deliver a Specified Acquisition Notice for an additional time.

  • Consolidated Net Leverage Ratio Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.