Leverage Ratio

Leverage Ratio. As of the date of its determination, with respect to the Borrower, the ratio of (a) funded debt, excluding subordinate debt existing at the time of execution of this Note as of such date, over (b) EBITDA for the twelve (12) months ending as of such date, measured quarterly.

Leverage Ratio. With respect to Xerium on any date, the ratio of (a) the Debt of Xerium and its Subsidiaries as of such date to (b) the Adjusted EBITDA of Xerium and its Subsidiaries for the period of four consecutive Fiscal Quarters ending on such date (or if such date is not the last day of a Fiscal Quarter of Xerium, for the period of four consecutive Fiscal Quarters most recently ended); provided, that, for the purposes of calculating the Leverage Ratio required to be maintained under Section 6.8(b) only... and not for any purpose for which the Leverage Ratio is applicable elsewhere in this Agreement, an amount equal to the lesser of (x) the aggregate amount of unrestricted Cash and Cash Equivalents in excess of $25,000,000 held by Xerium and its Subsidiaries on such date and not subject to a perfected Lien in favor of any Person (other than the Collateral Agent) and (y) $25,000,000 shall be subtracted from Debt in the foregoing clause (a). View More

Leverage Ratio. (a) the sum (i) of the principal outstanding balance of the Loan and Servicing Agreement dated as of October 4,2021 among the SPV, as borrower, the Borrower as equityholder and collateral manager, the lenders from time to time parties thereto and Société Générale as agent, as such agreement may be amended, amended and restated, refinanced, replaced or otherwise modified, plus (ii) the principal outstanding balance of the Loans, plus (iii) the outstanding principal balance of any other... borrowed money due from the Borrower or its subsidiaries (excluding any intercompany obligations), (b) divided by the consolidated Total Net Assets of the Fund. View More

Leverage Ratio. The ratio for such Person and its subsidiaries (as calculated on the last day of each fiscal quarter of such Person) of (a) an amount equal to the sum of the aggregate outstanding principal amount of all Debt (other than Debt consisting of reimbursement and other obligations with respect to undrawn letters of credit), minus the aggregate principal amount of all cash and Cash Equivalents reflected on such Person's balance sheet that is not restricted to secure the payment of off-balance sheet... liabilities of such Person or any subsidiary, to (b) the amount included in clause (a), above, plus the Net Worth of such Person. Leverage Ratio shall be calculated without regard to (i) the indebtedness of Pilgrim's Pride relating to the Protein IRB Bond in the definition of "Debt" to the extent proceeds remain held in trust and not paid to Pilgrim's Pride pursuant to the terms of the Protein IRB Bond and (ii) the indebtedness, if any, of Pilgrim's Pride or its subsidiaries, as lessee, relating to the Intercompany Bonds in the definition of "Debt" so long as Pilgrim's Pride or a subsidiary of Pilgrim's Pride remains the holder of such Intercompany Bonds View More

Leverage Ratio. As of the last day of any Fiscal Quarter, the ratio of (a) Total Debt outstanding on the last day of such Fiscal Quarter to (b) EBITDA computed for the period consisting of such Fiscal Quarter and each of the three immediately preceding Fiscal Quarters; provided that, for purposes of calculating the Leverage Ratio for any Fiscal Quarter in which Indebtedness is outstanding under each of the 1998 Indenture and the 2008 Indenture, the aggregate amount of Indebtedness thereunder to be included in... the calculation of Total Debt for such Fiscal Quarter shall be the amount equal to the greater of (i) the amount of Indebtedness outstanding under the 1998 Indenture and (ii) the amount of Indebtedness outstanding under the 2008 Indenture, in each case calculated as of the last day of such Fiscal Quarter. View More

Leverage Ratio. Greater than the ratio set forth in the table below for such last day of a fiscal quarter:

Leverage Ratio. Means at any date, the ratio (expressed as a percentage) of (i) (A) Consolidated Indebtedness less (B) Unrestricted Cash of the Borrower and the Guarantors in excess of $50,000,000 but not to exceed $500,000,000 to (ii) (A) the sum of Consolidated Indebtedness and Adjusted Consolidated Tangible Net Worth less (B) Unrestricted Cash of the Borrower and the Guarantors in excess of $50,000,000 but not to exceed $500,000,000. For avoidance of doubt, the foregoing definition of "Leverage Ratio"... applies wherever the term is used in this Agreement, including without limitation Section 2.11 and Section 9.2. View More

Leverage Ratio. Of not more than 3.75:1.00; provided, however, that notwithstanding the foregoing, during the Covenant Relief Period, the U.S. Borrower shall maintain as of the last day of each Fiscal Quarter a Leverage Ratio of not more than the applicable level set forth below adjacent to such Fiscal Quarter.

Leverage Ratio. Permit Consolidated Indebtedness less Cash to be more than 75% of Total Capital. For purposes of this Section 5.02(b), the term "Cash" means cash and cash equivalents and interest bearing assets with maturities of one year or less; and the term "Total Capital" means the sum of Shareholders' Equity, Deferred Income Taxes and Consolidated Debt, less Cash, plus the Impairment Charge. The term "Impairment Charge" means the $5.3 billion non-cash impairment charge taken by the Company during the... second calendar quarter of 2008 to reduce the carrying amount of its North American franchise license intangible assets and goodwill to their estimated fair value. The terms Shareholders' Equity, Deferred Income Taxes and Consolidated Debt shall be as they appear on the Company's published Consolidated financial statements and calculated under the GAAP applied by the Company on the date hereof in the preparation of its Consolidated financial statements. View More

Leverage Ratio. Means, as of the date of any determination with respect to the Parent, the ratio of (a) the sum of (i) Consolidated Debt as of such date, plus (ii) the amount by which (A) the aggregate amount, as of the preceding December 31 (or as of such date if such date is December 31), of Consolidated Lease Rentals under non-cancelable Leases entered into by the Parent or any of its Subsidiaries, discounted to such December 31 to present value at 10% and net of aggregate minimum non-cancelable sublease... rentals, determined on a basis consistent with Note 14 to the Parent's consolidated financial statements at and for the period ended December 31, 2005, included in the Parent's 2005 annual report to shareholders, exceeds (B) $400,000,000, to (b) the sum of (i) the amount determined pursuant to clause (a) plus (ii) Consolidated Net Worth as of such date. View More