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.
Consolidated Net Leverage Ratio. The Borrower shall not permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower set forth below to be greater than the ratio corresponding to such fiscal quarter (or the period containing such fiscal quarter): Period Maximum Consolidated Net Leverage Ratio Fiscal quarter in which the Initial Funding Date occurs and the following four fiscal quarters 4.25 to 1.0 The fifth full fiscal quarter after the fiscal quarter in which the Initial Funding Date occurs and the following three fiscal quarters 4.00 to 1.0 The ninth full fiscal quarter after the fiscal quarter in which the Initial Funding Date occurs and each fiscal quarter thereafter 3.75 to 1.0 provided, however, in connection with any Permitted Acquisition for which the purchase consideration equals or exceeds $50,000,000, if the Borrower’s Consolidated Net Leverage Ratio, calculated on a Pro Forma Basis after giving effect to such Permitted Acquisition, would be less than, but within 0.25 to 1.0 of, or would equal or exceed, the maximum Consolidated Net Leverage Ratio set forth in the matrix above (prior to giving effect to any increase thereof pursuant to this proviso), the otherwise applicable maximum Consolidated Net Leverage Ratio for each of the four consecutive fiscal quarters, beginning with the fiscal quarter in which such Permitted Acquisition occurs (the “Adjustment Period”), shall be increased by an amount of .50 to 1.0 (but, in any event, not to exceed 4.50 to 1.0). Following the expiration of any Adjustment Period, the maximum Consolidated Net Leverage Ratio cannot be subsequently increased again as provided in this proviso (and a subsequent Adjustment Period cannot commence) until the Borrower has delivered a quarterly Compliance Certificate evidencing that it was in compliance with the maximum Consolidated Net Leverage Ratio as set forth in this Section 8.11(a) (after the decrease in such maximum Consolidated Net Leverage Ratio following the expiration of such Adjustment Period).
Consolidated Net Leverage Ratio. As of the last day of any fiscal quarter during the periods set forth below, permit the Consolidated Net Leverage Ratio to be greater than the corresponding ratio set forth below: Period Maximum Consolidated Net Leverage Ratio Closing Date through September 30, 2022 5.50 to 1.00 December 31, 2022 through June 30, 2023 6.00 to 1.00 September 30, 2023 5.50 to 1.00 December 31, 2023 4.50 to 1.00 March 31, 2024 5.75 to 1.00 June 30, 2024 6.00 to 1.00 September 30, 2024 5.75 to 1.00 December 31, 2024 5.00 to 1.00 March 31, 2025 and thereafter 4.00 to 1.00 Notwithstanding the foregoing:
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Company, commencing with the fiscal quarter ending December 31, 2021, to be greater than (i) 3.25 to 1.00 except during a Specified Acquisition Period and (ii) 3.75 to 1.00 during a Specified Acquisition Period.
Consolidated Net Leverage Ratio. As of the last day of any fiscal quarter, permit the Consolidated Net Leverage Ratio to be greater than 5.00 to 1.00. Notwithstanding the foregoing, upon the consummation of any Permitted Acquisition or series of Permitted Acquisitions occurring during any nine (9) month period following the Seventh Amendment Effective Date having aggregate consideration (including cash, Cash Equivalents, Equity Interests, Earn-outs, Holdbacks and other deferred payment obligations) in excess of $150,000,000, the Borrower may, at its election (in connection with such Permitted Acquisition or series of Permitted Acquisitions and by not less than five (5) Business Days’ written notice to the Administrative Agent prior to delivery of financial statements pursuant to Section 8.1(a) or (b) for the fiscal quarter in which such Permitted Acquisition or the last of such series of Permitted Acquisitions is consummated), increase the required Consolidated Net Leverage Ratio pursuant to this Section to 5.50 to 1.00, which increase shall be applicable for the fiscal quarter in which such Permitted Acquisition or the last of such series of Permitted Acquisitions is consummated (applied retroactively, as of the end of such fiscal quarter, and which will prevent the occurrence of a Default or Event of Default under this Section as of the end of such fiscal quarter so long as the maximum Consolidated Net Leverage Ratio in effect following the exercise of such increase option is not exceeded) and the three (3) consecutive fiscal quarters thereafter; provided, that the Borrower shall be permitted to exercise such increase option under this sentence no more than one time during any consecutive twenty-four (24) month period.”
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Company ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ending Consolidated Net Leverage Ratio March 31, 2020 4.50 to 1.00 June 30, 2020 4.50 to 1.00 September 30, 2020 4.50 to 1.00 December 31, 2020 4.50 to 1.00 March 31, 2021 4.50 to 1.00 June 30, 2021 4.25 to 1.00 September 30, 2021 4.25 to 1.00 December 31, 2021 4.00 to 1.00 March 31, 2022 4.00 to 1.00 June 30, 2022 3.75 to 1.00 September 30, 2022 3.75 to 1.00 December 31, 2022 and each fiscal quarter ending thereafter 3.50 to 1.00
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as at the last day of any fiscal quarter of the Borrower Parent ending with any day set forth below to exceed the ratio set forth below opposite such day: Quarter Ending Consolidated Net Leverage Ratio Closing Date through June 30, 2015 3.50:1.00 September 30, 2015 through June 30, 2016 3.00:1.00 September 30, 2016 through June 30, 2017 2.50:1.00 September 30, 2017 and thereafter 2.00:1.00
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the last day of any fiscal quarter of the Company during any period set forth below to be greater than the ratio set forth below opposite such period: Period Consolidated Net Leverage Ratio September 30, 2021 through September 30, 2023 3.75 to 1.00 December 31, 2023 and thereafter 3.50 to 1.00 Notwithstanding the foregoing, if a Permitted Acquisition involving aggregate consideration of $15,000,000 or more is consummated during a fiscal quarter ending after the Closing Date, at the request of the Company (which shall be made on or prior to the date of consummation of such Permitted Acquisition), the maximum Consolidated Net Leverage Ratio permitted under this Section 7.11(b) at any time shall be increased by 0.50 to 1.00 (but in no event shall the maximum permitted Consolidated Net Leverage Ratio exceed 4.00 to 1.00) during such fiscal quarter and the subsequent three fiscal quarters (such four fiscal quarters, an “Elevated Ratio Period”); provided, however, (i) there shall be at least two consecutive full fiscal quarters between Elevated Ratio Periods during which the Consolidated Net Leverage Ratio is not in excess of the otherwise maximum Consolidated Net Leverage Ratio permitted under this Section 7.11(b) as of the last day thereof and (ii) the Company may in its discretion, by written notice to the Administrative Agent, elect to end an Elevated Ratio Period early.
Consolidated Net Leverage Ratio. The Borrower shall not permit the Consolidated Net Leverage Ratio as of the end of any Fiscal Quarter (commencing as of the end of the first full Fiscal Quarter after the Closing Date) of the Borrower to be greater than (i) as of the end of any Fiscal Quarter during a Collateral Suspension Period, 3.50 to 1.00 and (ii) as of the end of any Fiscal Quarter during any other period the applicable ratio set forth below: Fiscal Quarter Ending: Maximum Permitted Level After the Closing Date and on or prior to May 28, 2017 5.50 to 1.00 After May 28, 2017 and on or prior to February 25, 2018 5.25 to 1.00 After February 25, 2018 and on or prior to November 25, 2018 5.00 to 1.00 After November 25, 2018 and on or prior to August 25, 2019 4.75 to 1.00 After August 25, 2019 4.50 to 1.00
Consolidated Net Leverage Ratio. No Credit Party shall, nor shall it permit any of its Subsidiaries to, permit the Consolidated Net Leverage Ratio as of the last day of any Fiscal Quarter of the Borrower ending during the periods set forth below to be greater than the ratio set forth below opposite such period: Period Maximum Consolidated Net Leverage Ratio Sixth Amendment Effective Date through and including June 30, 2019 3.50 to 1.00 September 30, 2019 through and including December 31, 2019 3.70 to 1.00 March 31, 2020 5.00 to 1.00 June 30, 2020 5.35 to 1.00 September 30, 2020 through and including March 31, 2021 5.50 to 1.00 June 30, 2021 5.00 to 1.00 September 30, 2021 4.75 to 1.00 December 31, 2021 and thereafter 4.50 to 1.00
