Consolidated First Lien Debt to Consolidated EBITDA Ratio. Solely with respect to the Revolving Credit Facility and subject to the following proviso, beginning with the Test Period ending December 31, 2017, the Borrower will not permit the Consolidated First Lien Debt to Consolidated EBITDA Ratio as of the last day of any Test Period to be greater than 8.15:1.00; provided, however, that the Borrower shall be required to be in compliance with this Section 10.10 with respect to any Test Period only if the sum of (A) the aggregate principal amount of all Revolving Credit Loans and Swingline Loans plus (B) the aggregate Letter of Credit Obligations (other than (i) those Cash Collateralized in an amount equal to the Stated Amount thereof or otherwise backstopped on terms reasonably acceptable to the Administrative Agent and the applicable Letter of Credit Issuer and (ii) without duplication of amounts described in clause (i) above, Letter of Credit Obligations, the aggregate Stated Amount of which do not exceed the greater of (x) $5,000,000 and (y) the Stated Amount of Existing Letters of Credit outstanding on the Closing Date), in each case outstanding on the last day of such Test Period, exceeds 35.0% of the amount of the Total Revolving Credit Commitment in effect on such date and.
Consolidated First Lien Debt to Consolidated EBITDA Ratio. Solely with respect to the Revolving Credit Facility and subject to the following proviso, beginning with the Test Period ending March 31, 2019, the Borrower will not permit the Consolidated First Lien Debt to Consolidated EBITDA Ratio as of the last day of any Test Period to be greater than 7.00:1.00; provided, however, that the Borrower shall be required to be in compliance with this Section 10.10 with respect to any Test Period only if the sum of (A) the aggregate principal amount of all Revolving Credit Loans and Swingline Loans plus (B) the aggregate Letter of Credit Obligations (other than (i) those Cash Collateralized in an amount equal to the Stated Amount thereof or otherwise backstopped on terms reasonably acceptable to the Administrative Agent and the applicable Letter of Credit Issuer and (ii) without duplication of amounts described in clause (i) above, Letter of Credit Obligations, the aggregate Stated Amount of which do not exceed the greater of (x) $10,000,000 and (y) the Stated Amount of Existing Letters of Credit outstanding on the Closing Date), in each case outstanding on the last day of such Test Period, exceeds 35.0% of the amount of the Total Revolving Credit Commitment in effect on such date, and, provided, further, that if the lenders under any Additional/Replacement Revolving Credit Commitments have agreed not to have the benefit of this Section 10.10, the Additional/Replacement Revolving Credit Loans made, and letters of credit issued, under such Additional/Replacement Revolving Credit Facility shall be disregarded for purposes of the 35% calculations above.
Consolidated First Lien Debt to Consolidated EBITDA Ratio. The Borrower will not permit the Consolidated First Lien Debt to Consolidated EBITDA Ratio for any Test Period ending on each date set forth below to be greater than the ratio set forth below opposite such date: Test Period Ending Ratio March 31, 2014 1.50 to 1.00 June 30, 2014 1.50 to 1.00 September 30, 2014 1.50 to 1.00 December 31, 2014 1.502.75 to 1.00 March 31, 2015 1.502.75 to 1.00 June 30, 2015 1.502.75 to 1.00 September 30, 2015 1.502.75 to 1.00 December 31, 2015 1.50 to 1.00 715000788 12406500715000788 12406500 123
Consolidated First Lien Debt to Consolidated EBITDA Ratio. If on the last day of any Test Period the aggregate Revolving Credit Exposure (less the aggregate amount of any Letter of Credit Exposure with respect to Letters of Credit that have been irrevocably cash collateralized pursuant to arrangements reasonably satisfactory to the Letter of Credit Issuer and the Administrative Agent) is more than $30,000,000, the Company will not permit the First Lien Debt to Consolidated EBITDA Ratio as of the last day of such Test Period to be greater than the ratio set forth below opposite such period: Test Period Ending Ratio September 30, 2007 5.75 to 1.00 December 31, 2007 5.75 to 1.00 March 31, 2008 5.75 to 1.00 June 30, 2008 5.75 to 1.00 September 30, 2008 5.75 to 1.00 December 31, 2008 5.75 to 1.00 March 31, 2009 5.75 to 1.00 June 30, 2009 5.75 to 1.00 September 30, 2009 5.25 to 1.00 December 31, 2009 5.25 to 1.00 March 31, 2010 5.25 to 1.00 June 30, 2010 5.25 to 1.00 September 30, 2010 5.00 to 1.00 December 31, 2010 5.00 to 1.00 March 31, 2011 5.00 to 1.00 June 30, 2011 5.00 to 1.00 September 30, 2011 4.50 to 1.00 December 31, 2011 4.50 to 1.00 March 31, 2012 4.50 to 1.00 June 30, 2012 4.50 to 1.00 September 30, 2012 4.50 to 1.00 December 31, 2012 4.50 to 1.00 March 31, 2013 4.50 to 1.00 June 30, 2013 4.50 to 1.00 September 30, 2013 4.00 to 1.00 December 31, 2013 4.00 to 1.00 March 31, 2014 4.00 to 1.00
