Applicable Asset Sale Percentage means, (a) 75.0% if the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is equal to or less than 4.35 to 1.00 and (b) 100.0% if the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is greater than 4.35 to 1.00, in each case, calculated on a Pro Forma Basis.
Applicable Asset Sale Percentage means (a) 100.0% if the Consolidated First Lien Net Leverage Ratio as of the most recently ended Test Period is greater than 3.50 to 1.00, (b) 50.0% if the Consolidated First Lien Net Leverage Ratio as of the most recently ended Test Period is less than or equal to 3.50 to 1.00 and greater than 3.00 to 1.00 and (c) 0% if the Consolidated First Lien Net Leverage Ratio as of the most recently ended Test Period is less than or equal to 3.00 to 1.00, in each case, calculated on a Pro Forma Basis.
Applicable Asset Sale Percentage means, (a) 100.0% if the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is greater than 3.25 to 1.00, (b) 50.0% if the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is equal to or less than 3.25 to 1.00 and greater than 2.75 to 1.00 and (c) 0.0% if the Consolidated First Lien Net Leverage Ratio as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is equal to or less than 2.75 to 1.00, in each case, calculated on a Pro Forma Basis.
Examples of Applicable Asset Sale Percentage in a sentence
The Administrative Agent shall have received the certificate of a Responsible Officer (as described in the definition of Applicable Asset Sale Percentage) setting forth in reasonable detail the calculations and assumptions used in determining the Applicable Asset Sale Percentage after giving effect to the Stella Sale.
More Definitions of Applicable Asset Sale Percentage
Applicable Asset Sale Percentage means, (a) 100% if the Consolidated First Lien Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.09) as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available is greater than 4.50:1.00, (b) 50.0% if the Consolidated First Lien Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.09) as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available) is less than or equal to 4.50:1.00 and greater than 3.75:1.00 and (c) 0.0% if the Consolidated First Lien Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.09) as of the last day of the most recently ended period of four consecutive fiscal quarters for which financial statements are internally available) is less than or equal to 3.75:1.00.
Applicable Asset Sale Percentage means, for any Disposition, 100%.
Applicable Asset Sale Percentage means, (1) 100.0% if the Consolidated First Lien Debt Ratio of the Issuer and its Restricted Subsidiaries shall be greater than 1.75 to 1.00 for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale, (2) 50.0% if the Consolidated First Lien Debt Ratio of the Issuer and its Restricted Subsidiaries shall be less than or equal to 1.75 to 1.00 and greater than 1.25 to 1.00 for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale and (3) 0.0%, if the Consolidated First Lien Debt Ratio of the Issuer and its Restricted Subsidiaries shall be less than or equal to 1.25 to 1.00, in each case, for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale and calculated after giving pro forma effect to such Asset Sale.
Applicable Asset Sale Percentage means, (1) 100.0% if the Consolidated Total Net Debt Ratio of the Issuer and its Restricted Subsidiaries shall be greater than 3.75 to 1.00 for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale, (2) 25.0% if the Consolidated Total Net Debt Ratio of the Issuer and its Restricted Subsidiaries shall be less than or equal to 3.75 to 1.00 and greater than 3.25 to 1.00 for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale and (3) 0.0%, if the Consolidated Total Net Debt Ratio of the Issuer and its Restricted Subsidiaries shall be less than or equal to 3.25 to 1.00, in each case, for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of the applicable Asset Sale and calculated after giving pro forma effect to such Asset Sale.
Applicable Asset Sale Percentage means, with respect to any Asset Sale, a percentage, determined with reference to the Leverage Ratio of
Applicable Asset Sale Percentage means, for any Disposition, 100%. “Applicable Discount” has the meaning set forth in Section 2.05(a)(v)(C)(2). “Applicable ECF Percentage” means, for any fiscal year, (a) 50%, if the Consolidated Senior Secured Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.11) as of the last day of such fiscal year is greater than 4.00 to 1.00, (b) 25%, if the Consolidated Senior Secured Net Leverage Ratio (determined on a Pro Forma Basis in accordance with Section 1.11) as of the last day of such fiscal year is less than or equal to 4.00 to 1.00 and greater than 3.50 to 1.00, and (c) 0%, if the Consolidated Senior Secured Net Leverage Ratio (determined on a Pro Forma Basis in accordance with
Applicable Asset Sale Percentage means, for any Disposition, 100%. “Applicable Discount” has the meaning set forth in Section 2.05(a)(v)(C)(2).