First Lien Leverage Ratio. If, on the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.
First Lien Leverage Ratio. The Borrower will not permit its First Lien Leverage Ratio as of the last day of each Fiscal Quarter thereafter (commencing with the Fiscal Quarter ending March 31, 2015) to be greater than 2.50 to 1.00.
First Lien Leverage Ratio. Permit the First Lien Leverage Ratio during any period set forth below to be greater than the ratio set forth opposite such period below: Fiscal Quarter Ended: Ratio December 31, 2005 4.95:1.00 March 31, 2006 4.95:1.00 June 30, 2006 4.95:1.00 September 30, 2006 4.95:1.00 December 31, 2006 4.40:1.00 March 31, 2007 4.40:1.00 June 30, 2007 4.125:1.00 September 30, 2007 3.85:1.00 December 31, 2007 3.575:1.00 March 31, 2008 3.575:1.00 June 30, 2008 3.30:1.00 September 30, 2008 3.30:1.00 December 31, 2008 3.025:1.00 March 31, 2009 3.025:1.00 June 30, 2009 3.025:1.00 September 30, 2009 3.025:1.00 December 31, 2009 2.75:1.00 March 31, 2010 2.75:1.00 June 30, 2010 2.75:1.00 September 30, 2010 2.75:1.00 Schedule 4, Negative Covenants 12 Fiscal Quarter Ended: Ratio December 31, 2010 2.475:1.00 March 31, 2011 2.475:1.00 June 30, 2011 2.475:1.00 September 30, 2011 2.475:1.00 December 31, 2011 2.20:1.00 March 31, 2012 2.20:1.00 June 30, 2012 2.20:1.00 September 30, 2012 2.20:1.00 December 31, 2012 1.925:1.00
First Lien Leverage Ratio. Permit the First Lien Leverage Ratio for any period of 4 consecutive fiscal quarters of Holdings and its Subsidiaries for which the last fiscal month ends on a date set forth below to be greater than the ratio set forth opposite such date: Fiscal Quarter End First Lien Leverage Ratio March 31, 2023 6.38:1.00 April 30, 2023 6.60:1.00 May 31, 2023 6.20:1.00 June 30, 2023 6.00:1.00 July 31, 2023 5.28:1.00 August 31, 2023 4.51:1.00 September 30, 2023 4.12:1.00 October 31, 2023 3.50:1.00 November 30, 2023 3.14:1.00 December 31, 2023 4.63:1.00 January 31, 2024 and each fiscal month ending thereafter 3:50:1.00
First Lien Leverage Ratio. Except during a Suspension Period, the Borrower shall not permit its First Lien Leverage Ratio as of the last day of any fiscal quarter to exceed (a) for the period from the Restatement Effective Date to the second anniversary of the Restatement Effective Date, 4.50 to 1.00 and (b) thereafter, 4.25 to 1.00.
First Lien Leverage Ratio. Permit or suffer the First Lien Leverage Ratio to exceed 2.50 to 1.00 as of the end of any Fiscal Quarter ending on or after March 31, 2020.
First Lien Leverage Ratio. On each Compliance Date, the Borrower shall not permit the First Lien Leverage Ratio as of such Compliance Date to be greater than 3.80:1.00.
First Lien Leverage Ratio. Following the exercise of the Call Right or the Put Right under the Call/Put Agreement, on the last day of any Test Period ending on or after the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (other than any Test Period ending during the Covenant Waiver Period, so long as the Borrower is in compliance with any then-applicable Covenant Waiver Conditions at all times during the applicable portions of such Covenant Waiver Period (giving effect to any cure periods stated therein)), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 6.25:1.00, stepping-down to a First Lien Leverage Ratio of 6.00:1.00 for the Fiscal Quarter ended on or about September 30, 2020 and thereafter (as applicable). For the avoidance of doubt, if the Borrower ceases to be in compliance with any then-applicable Covenant Waiver Conditions at any time during the applicable portions of such Covenant Waiver Period, then (A) the Financial Covenant will be deemed to have been applicable as of the last day of the most recently ended Test Period (but solely to the extent the Revolving Facility Test Condition was otherwise satisfied on such last day) and (B) accordingly, if the Borrower would not have been in compliance with the Financial Covenant as of the last day of such Test Period, then, solely to the extent the Revolving Facility Test Condition was otherwise satisfied on such last day, and subject to the rights and limitations set forth in Section 6.15(b), a breach of this Section 6.15(a) shall be deemed to have occurred from such non-compliance with the Covenant Waiver Conditions (unless so cured). 148 Notwithstanding the other provisions of this Agreement, from and after the termination of the Covenant Waiver Period, for purposes of calculating the First Lien Leverage Ratio for purposes of this Section 6.15 and determining compliance with the Financial Covenant (if then tested):
First Lien Leverage Ratio. The Borrower will not permit the First Lien Leverage Ratio as of the last day of any fiscal quarter ending on any date during any period set forth below to exceed the ratio set forth below opposite such period: Period Ratio Effective Date to and including June 30, 2013 4.75 to 1.00 July 1, 2013 and thereafter 4.50 to 1.00
First Lien Leverage Ratio. Borrower shall maintain at all times, as determined on the last day of each fiscal quarter for the twelve (12) month period then ending, a First Lien Leverage Ratio of no greater than (i) for the period ending December 31, 2014, 3.00 to 1.00; (ii) for the period ending March 31, 2015, 2.75 to 1.00; (iii) for the period ending June 30, 2015, 2.50 to 1.00; (iv) for the period ending September 30, 2015, 2.25 to 1.00; and (v) for the period ending December 31, 2015, and each fiscal quarter thereafter, 2.00 to 1.00.
