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Maximum Leverage Ratio
Maximum Leverage Ratio contract clause examples

Maximum Leverage Ratio. Beginning with the fiscal quarter ending March 31, 2017, the Borrower will not permit the Leverage Ratio, determined as of the end of each of its fiscal quarters for the period of four (4) consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Borrower and its Restricted Subsidiaries on a consolidated basis to be greater than 2.75 to 1.00; provided that the Borrower may, only twice during the term of this Agreement in connection with a Permitted Acquisition for which the aggregate consideration paid or to be paid in respect thereof equals or exceeds $100,000,000, elect to increase the maximum Leverage Ratio permitted hereunder to 3.25 to 1.00 for a period of four consecutive fiscal quarters commencing with the fiscal quarter in which such Permitted Acquisition occurs (any such election in respect of the maximum Leverage Ratio pursuant to this Section 6.10(a) being referred to as an “Acquisition Holiday”); provided further that, notwithstanding the foregoing, at least two (2) consecutive full fiscal quarters must elapse between the end of the first Acquisition Holiday and the beginning of the second Acquisition Holiday.

“(b)Maximum Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter for which financial statements are required to have been provided pursuant to Section 8.01(a) or (b), permit the ratio of (i) the total Funded Debt as of such date to (ii) EBITDA of the Borrower and its Consolidated Restricted Subsidiaries for the four (4) quarter period ending on such date to be greater than the applicable ratio set forth below:

Maximum Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter for which financial statements are required to have been provided pursuant to Section 8.01(a) or (b), permit the ratio of (i) the total Funded Debt as of such date to (ii) EBITDA of the Borrower and its Consolidated Restricted Subsidiaries for the four (4) quarter period ending on such date to be greater than 4.00 to 1.00.

The Borrowers shall not permit the Leverage Ratio, measured as of the end of each fiscal quarter, to exceed 4.00 to 1.00; provided, that (a) during the period of four (4) consecutive fiscal quarters immediately following the consummation of a Material Acquisition (commencing with the fiscal quarter in which such Material Acquisition occurs), the Company may elect, with prior notice to the Administrative Agent to increase the preceding ratio to 4.50 to 1.00 (a "Material Acquisition Period") (with it being understood and agreed that as of the Closing Date a Material Acquisition Period is in existence as a result of the consummation of a Material Acquisition under the Prior Credit Agreement); and (b) immediately after the end of a Material Acquisition Period, the maximum Leverage Ratio shall automatically revert to 4.00 to 1.00; provided however that if the Company consummates an additional Material Acquisition

Maximum Leverage Ratio. The (i) Total Leverage Ratio calculated on a pro forma basis (after giving effect to the Term Loans to be made on the Closing Date, including the payment of all Transaction Costs required to be paid in Cash) as of March 31, 2016 shall not be greater than 6.75:1.00 and (ii) Senior Leverage Ratio calculated on a pro forma basis (after giving effect to the Term Loans to be made on the Closing Date, including the payment of all Transaction Costs required to be paid in Cash) as of March 31, 2016 shall not be greater than 6.00:1.00.

Maximum Leverage Ratio. Leverage Ratio to exceed 80%. The maximum Leverage Ratio of Guarantor shall be determined by excluding the effects of Guarantor’s consolidation of its non-recourse CMBS style fixed-rate and/or floating-rate securitizations (i.e., the gross up effect of the assets and liabilities of these securitizations due to consolidation will be removed).

Maximum Leverage Ratio (Section 8.3B(o)). After giving effect to such Permitted Acquisition (including in such computation Indebtedness or other liabilities assumed or incurred in connection with such Permitted Acquisition), the ratio of (a) the sum of (i) Consolidated Total Indebtedness, and (ii) four (4) times Consolidated Rental Expense, to (b) Adjusted Consolidated EBITDAR is _____ to 1.00 for the four (4) most recently completed fiscal quarters of the Parent and its Subsidiaries ending prior to the Report Date, which is not greater than the permitted ratio of _____ to 1.00 for the relevant period [insert applicable maximum from Table I below].

Maximum Leverage Ratio. Commencing with the four fiscal quarter period ending March 31, 2017, permit the Leverage Ratio for any period of four consecutive fiscal quarters of the Parent Borrower, in each case taken as one accounting period, as of the last day of any fiscal quarter, to be greater than:

Maximum Leverage Ratio. Permit the Consolidated Total Leverage Ratio as of the last day of each fiscal quarter ending during a period set forth below to be greater than the ratio set forth opposite such period below:

“(b)Maximum Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter for which financial statements are required to have been provided pursuant to Section 8.01(a) or (b), permit the ratio of (i) the total Funded Debt as of such date to (ii) EBITDA of the Borrower and its Consolidated Restricted Subsidiaries for the four (4) quarter period ending on such date to be greater than the applicable ratio set forth below:

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