Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 4.50:1.00.
Consolidated Net Leverage Ratio. Maintain a Consolidated Net Leverage Ratio of the Borrower and its Restricted Subsidiaries, which shall be calculated at the end of each fiscal quarter of the Borrower, of not greater than 3.50:1.00; provided, however, that the Consolidated Net Leverage Ratio level set forth above may, at the election of the Borrower and upon written notice to the Administrative Agent prior to the consummation of a Qualified Permitted Acquisition, be increased by 0.50:1.00 (a “half-turn”) in connection with a Permitted Acquisition with aggregate cash and non-cash consideration (including assumed Indebtedness, the good faith estimate by the Borrower of the maximum amount of any deferred purchase price obligations (including the Borrower’s good faith estimate of any anticipated Earn Out Obligations) and Equity Interests) paid in connection therewith in excess of $150,000,000 (each such Permitted Acquisition, a “Qualified Permitted Acquisition”), with a 0.25:1.0 step-down for the first four fiscal quarter period ending after the date that is six (6) months after such Permitted Acquisition and another 0.25:1.0 step-down (returning the required Consolidated Net Leverage Ratio to the then otherwise required ratio) for the first four fiscal quarter period ending after the date that is twelve (12) months after such Permitted Acquisition; provided further that, (w) in any event, the maximum Consolidated Net Leverage Ratio for any period of four fiscal quarters shall not be increased to be greater than 4.00:1.00, (x) the Consolidated Net Leverage Ratio levels shall not be increased pursuant to the foregoing proviso on more than two occasions during the term of this Credit Agreement (commencing on the First Amendment Effective Date), (y) following any increase in the Consolidated Net Leverage Ratio level pursuant to the foregoing proviso, no subsequent increase in the Consolidated Net Leverage Ratio level pursuant to the foregoing proviso may be made until after the required Consolidated Net Leverage Ratio has been at the applicable level set forth above (without giving effect to any increase pursuant to the foregoing proviso) for at least one full fiscal quarter and (z) any such increase of the Consolidated Net Leverage Ratio levels pursuant to this Section 7.07(a) shall apply only with respect to the calculation of the Consolidated Net Leverage Ratio for purposes of determining compliance with this Section 7.07(a) and for purposes of any Qualified Permitted Acquisition Pro Forma Ca...
Consolidated Net Leverage Ratio. As of the last day of any fiscal quarter during the periods set forth below, permit the Consolidated Net Leverage Ratio to be greater than the corresponding ratio set forth below: Period Maximum Consolidated Net Leverage Ratio Closing Date through September 30, 2022 5.50 to 1.00 December 31, 2022 through June 30, 2023 6.00 to 1.00 September 30, 2023 5.50 to 1.00 December 31, 2023 4.50 to 1.00 March 31, 2024 5.75 to 1.00 June 30, 2024 6.00 to 1.00 September 30, 2024 5.75 to 1.00 December 31, 2024 5.00 to 1.00 March 31, 2025 and thereafter 4.00 to 1.00 Notwithstanding the foregoing:
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Company, commencing with the fiscal quarter ending December 31, 2021, to be greater than (i) 3.25 to 1.00 except during a Specified Acquisition Period and (ii) 3.75 to 1.00 during a Specified Acquisition Period.
Consolidated Net Leverage Ratio. Not permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Guarantor to be above the net maximum ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ending Maximum Consolidated Net Leverage Ratio June 30, 2011 5.25:1.00 September 30, 2011 5.00:1.00 December 31, 2011 4.50:1.00 March 31, 2012 4.00:1.00 June 30, 2012 3.50:1.00 September 30, 2012 and thereafter 3.00:1.00
Consolidated Net Leverage Ratio. (i) Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower (A) ending on or prior to September 30, 2023 to be greater than 4.00 to 1.0 and (B) ending on or after December 31, 2023, 3.75 to 1.0; provided that, in each case, in connection with any Material Acquisition, upon written notice from the Borrower to the Administrative Agent, the maximum permitted Consolidated Net Leverage Ratio for each of the four consecutive fiscal quarters, beginning with the fiscal quarter in which such Material Acquisition occurs (such period, the “Leverage Increase Period”), shall be increased by 0.50 to 1.0. Following the expiration of any Leverage Increase Period, the maximum Consolidated Net Leverage Ratio cannot be subsequently increased again as provided in the immediately preceding proviso (and a subsequent Leverage Increase Period cannot commence) until the Borrower has delivered quarterly Compliance Certificates evidencing that it was in compliance with the maximum Consolidated Net Leverage Ratio as set forth in this Section 8.11(a) (after the decrease in such maximum Consolidated Net Leverage Ratio following the termination of such Leverage Increase Period) for two (2) consecutive fiscal quarters; provided, that the maximum Consolidated Net Leverage Ratio may be increased no more than two (2) times during the term of this Agreement.
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as at the last day of any fiscal quarter of the Borrower Parent ending with any day set forth below to exceed the ratio set forth below opposite such day: Quarter Ending Consolidated Net Leverage Ratio Closing Date through June 30, 2015 3.50:1.00 September 30, 2015 through June 30, 2016 3.00:1.00 September 30, 2016 through June 30, 2017 2.50:1.00 September 30, 2017 and thereafter 2.00:1.00
Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Ending Consolidated Net Leverage Ratio September 30, 2013 3.25 to 1.0 December 31, 2013 3.25 to 1.0 March 31, 2014 3.25 to 1.0 June 30, 2014 3.25 to 1.0 September 30, 2014 3.25 to 1.0 December 31, 2014 3.00 to 1.0 March 31, 2015 3.00 to 1.0 June 30, 2015 3.00 to 1.0 September 30, 2015 3.00 to 1.0 December 31, 2015 2.75 to 1.0 March 31, 2016 2.75 to 1.0 June 30, 2016 and each fiscal quarter thereafter 2.50 to 1.0
Consolidated Net Leverage Ratio. The Borrower shall not permit the Consolidated Net Leverage Ratio as of the end of any Fiscal Quarter (commencing as of the end of the first full Fiscal Quarter after the Closing Date) of the Borrower to be greater than (i) as of the end of any Fiscal Quarter during a Collateral Suspension Period, 3.50 to 1.00 and (ii) as of the end of any Fiscal Quarter during any other period the applicable ratio set forth below: Fiscal Quarter Ending: Maximum Permitted Level After the Closing Date and on or prior to May 28, 2017 5.50 to 1.00 After May 28, 2017 and on or prior to February 25, 2018 5.25 to 1.00 After February 25, 2018 and on or prior to November 25, 2018 5.00 to 1.00 After November 25, 2018 and on or prior to August 25, 2019 4.75 to 1.00 After August 25, 2019 4.50 to 1.00
Consolidated Net Leverage Ratio. No Credit Party shall, nor shall it permit any of its Subsidiaries to, permit the Consolidated Net Leverage Ratio as of the last day of any Fiscal Quarter of the Borrower ending during the periods set forth below to be greater than the ratio set forth below opposite such period: Period Maximum Consolidated Net Leverage Ratio Sixth Amendment Effective Date through and including June 30, 2019 3.50 to 1.00 September 30, 2019 through and including December 31, 2019 3.70 to 1.00 March 31, 2020 5.00 to 1.00 June 30, 2020 5.35 to 1.00 September 30, 2020 through and including March 31, 2021 5.50 to 1.00 June 30, 2021 5.00 to 1.00 September 30, 2021 4.75 to 1.00 December 31, 2021 and thereafter 4.50 to 1.00
