Annualization. For purposes of measuring the Consolidated Fixed Charge Coverage Ratio on any date on or prior to the last day of the fiscal quarter of the Parent ending closest to June 30, 2009, the term Consolidated Fixed Charges (including the embedded term Consolidated Interest Charges) shall be measured as follows: (a) for any measurement date prior to the last day of the fiscal quarter of the Parent ending closest to December 31, 2008, such terms shall be measured by multiplying the amount of such term for the one fiscal quarter of the Parent and its Subsidiaries ended closest to September 30, 2008 times four; (b) for any measurement date from and including the last day of the fiscal quarter of the Parent ending closest to December 31, 2008 through the day prior to the last day of the fiscal quarter of the Parent ending closest to March 31, 2009, such terms shall be measured by multiplying the amount of such term for the two fiscal quarters of the Parent and its Subsidiaries ended closest to December 31, 2008 times two; and (c) for any measurement date from and including the last day of the fiscal quarter of the Parent ending closest to March 31, 2009 through the day prior to the last day of the fiscal quarter of the Parent ending closest to June 30, 2009, such terms shall be measured by multiplying the amount of such term for the three fiscal quarters of the Parent and its Subsidiaries ended closest to March 31, 2009 times four-thirds.
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Sources: 364 Day Credit Agreement (Willis Group Holdings LTD), Credit Agreement (Willis Group Holdings LTD)