Consolidated Leverage. The Company will not permit the Consolidated Leverage Ratio as of the last day of any Reference Period to be greater than 3.00:1.00.
Consolidated Leverage. The Company will not permit the Consolidated Leverage Ratio as of the last day of any Reference Period (beginning with the Reference Period ended on or about June 30, 2018) to be greater than 3.50:1.00. Notwithstanding the foregoing, the Company shall be permitted, but(i) to allow the maximum Consolidated Leverage Ratio permitted under this Section 6.09(a) to be increased to 4.25:1.00 for a period of four consecutive fiscal quarters starting with the fiscal quarter ending March 31, 2021 (the “Cardiva Adjusted Period”), so long as the Company is in compliance on a pro forma basis with the maximum Consolidated Leverage Ratio of 4.25:1.00 on the First Amendment Effective Date immediately after giving effect (including pro forma effect) to the Cardiva Acquisition and (ii) in no event on more than two (2) occasions during the term of this Agreementafter the First Amendment Effective Date and prior to the Maturity Date, to allow the maximum Consolidated Leverage Ratio permitted under this Section 6.09(a) to be increased to 4.00:1.00 for a period of four consecutive fiscal quarters (such period, an “Adjusted Covenant Period”) in connection with a Qualifying Material Acquisition occurring during the first of such four fiscal quarters (and in respect of which the Company shall provide notice in writing to the Administrative Agent (for distribution to the Lenders) of such increase), so long as the Company is in compliance on a pro forma basis with the maximum Consolidated Leverage Ratio of 4.00:1.00 on the closing date of such Qualifying Material Acquisition immediately after giving effect (including pro forma effect) to such Qualifying Material Acquisition; provided that it is understood and agreed that (x) the Company may not elect a new Adjusted Covenant Period for at least two fiscal quarters following the end of the Cardiva Adjusted Period or an Adjusted Covenant Period and (y) the maximum Consolidated Leverage Ratio permitted under this Section 6.09(a) shall revert to 3.50:1.00 as offollowing the end of the Cardiva Adjusted Period or such Adjusted Covenant Period, as applicable, and thereafter until another Adjusted Covenant Period (if any) is elected pursuant to the terms and conditions described above.
Consolidated Leverage. Borrower shall not permit Total Indebtedness to be more than sixty percent (60%) of Total Asset Value at any date of determination prior to the date which is six months after the Effective Date or more than fifty-five percent (55%) of Total Asset Value at any date of determination on or after the date which is six months after the Effective Date.
Consolidated Leverage. The Trust will not permit the ratio of (a) Total Indebtedness at any time to (b) Total Asset Value at such time, to be greater than 0.55 to 1.0.
Consolidated Leverage. Borrower shall not permit Total Indebtedness to be more than sixty percent (60%) of Total Asset Value at any date of determination which percentage may increase to up to, but not greater than, sixty-five percent (65%) for up to two consecutive quarters following a Major Acquisition.
Consolidated Leverage. The Company will not permit the Consolidated Leverage Ratio as of the last day of any Reference Period (beginning with the Reference Period ended on or about June 30, 2018) to be greater than 3.50:1.00. Notwithstanding the foregoing, the Company shall be permitted, but in no event on more than two (2) occasions during the term of this Agreement, to allow the maximum Consolidated Leverage Ratio permitted under this Section 6.09(a) to be increased to 4.00:1.00 for a period of four consecutive fiscal quarters (such period, an “Adjusted Covenant Period”) in connection with a Qualifying Material Acquisition occurring during the first of such four fiscal quarters (and in respect of which the Company shall provide notice in writing to the Administrative Agent (for distribution to the Lenders) of such increase), so long as the Company is in compliance on a pro forma basis with the maximum Consolidated Leverage Ratio of 4.00:1.00 on the closing date of such Qualifying Material Acquisition immediately after giving effect (including pro forma effect) to such Qualifying Material Acquisition; provided that it is understood and agreed that (x) the Company may not elect a new Adjusted Covenant Period for at least two fiscal quarters following the end of an Adjusted Covenant Period and (y) the maximum Consolidated Leverage Ratio permitted under this Section 6.09(a) shall revert to 3.50:1.00 as of the end of such Adjusted Covenant Period and thereafter until another Adjusted Covenant Period (if any) is elected pursuant to the terms and conditions described above.
