Consolidated First Lien Net Leverage Ratio. The Borrower shall not permit the Consolidated First Lien Net Leverage Ratio as of the last day of any Test Period ending during any period set forth in the table below (commencing with the first fiscal quarter completed after the Closing Date) to be greater than the ratio set forth below opposite such period: Test Period Ending Consolidated First Lien Net Ratio April 1, 2012 - December 31, 2012 4.75 to 1.0 January 1, 2013 - June 30, 2014 4.75 to 1.0 July 1, 2014 - June 30, 2015 4.50 to 1.0 July 1, 2015 2014 - and thereafter 4.254.50 to 1.0
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Samples: Credit Agreement (Summit Materials, LLC), Credit Agreement (Summit Materials, Inc.), Credit Agreement (Summit Materials, Inc.)
Consolidated First Lien Net Leverage Ratio. The Borrower shall not permit the Consolidated First Lien Net Leverage Ratio as of the last day of any Test Period ending during any period set forth in the table below (commencing with the first fiscal quarter completed after the Closing Date) to be greater than the ratio set forth below opposite such period: Test Period Ending Consolidated First Lien Net Ratio April 1, 2012 - December 31, 2012 4.75 to 1.0 January 1, 2013 - June September 30, 2014 4.75 2013 4.25 to 1.0 July October 1, 2013 - December 31, 2014 - June 30, 2015 4.50 4.00 to 1.0 July January 1, 2015 2014 - and thereafter 4.254.50 3.85 to 1.0
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