Common use of Consolidated Total Net Leverage Ratio Clause in Contracts

Consolidated Total Net Leverage Ratio. The Credit Parties shall not permit the Consolidated Total Net Leverage Ratio as of the last day of any four Fiscal Quarter period ending on a date set forth below to be greater than the ratio set forth in the table below opposite such date: Date Maximum Consolidated Total Net Leverage Ratio September 30, 2017 3.50 to 1.00 December 31, 2017 3.50 to 1.00 March 31, 2018 3.50 to 1.00 June 30, 2018 3.50 to 1.00 September 30, 2018 3.25 to 1.00 December 31, 2018 3.00 to 1.00 March 31, 2019 N/A June 30, 2019 4.25 to 1.00 September 30, 2019 3.75 to 1.00 December 31, 2019 3.00 to 1.00 Date Maximum Consolidated Total Net Leverage Ratio March 31, 2020 2.75 to 1.00 June 30, 2020 2.50 to 1.00 September 30, 2020 2.25 to 1.00 December 31, 2020 and thereafter 2.00 to 1.00

Appears in 2 contracts

Samples: Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.), Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.)

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Consolidated Total Net Leverage Ratio. The Credit Parties shall not permit the Consolidated Total Net Leverage Ratio as of the last day of any four Fiscal Quarter period ending on a date set forth below to be greater than the ratio set forth in the table below opposite such date: Date Maximum Consolidated Total Net Leverage Ratio September 30, 2017 3.50 to 1.00 December 31, 2017 3.50 to 1.00 March 31, 2018 3.50 to 1.00 June 30, 2018 3.50 to 1.00 September 30, 2018 3.25 to 1.00 Date Maximum Consolidated Net Leverage Ratio December 31, 2018 3.00 to 1.00 March 31, 2019 N/A 3.00 to 1.00 June 30, 2019 4.25 2.75 to 1.00 September 30, 2019 3.75 2.50 to 1.00 December 31, 2019 3.00 to 1.00 Date Maximum Consolidated Total Net Leverage Ratio March 31, 2020 2.75 to 1.00 June 30, 2020 2.50 to 1.00 September 30March 31, 2020 2.25 to 1.00 December 31June 30, 2020 and thereafter 2.00 to 1.00

Appears in 2 contracts

Samples: Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.), Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.)

Consolidated Total Net Leverage Ratio. The Credit Parties shall not permit Permit the Consolidated Total Net Leverage Ratio as of the last day end of any four Fiscal Quarter period ending on a date Measurement Period of Borrowers set forth below to be greater than the ratio set forth in the table below opposite the last day of such dateMeasurement Period: Date Maximum Consolidated Total Net Leverage Ratio September 30, 2017 3.50 to 1.00 December 31, 2017 3.50 to 1.00 March 31, 2018 3.50 to 1.00 June 30, 2018 3.50 to 1.00 September 30, 2018 3.25 to 1.00 December 31, 2018 3.00 to 1.00 March 31, 2019 N/A June 30, 2019 4.25 to 1.00 September 30, 2019 3.75 to 1.00 December 31, 2019 3.00 to 1.00 Date Measurement Period Ending Maximum Consolidated Total Net Leverage Ratio March 31, 2017 4.25 to 1.00 June 30, 2017 4.25 to 1.00 September 30, 2017 4.25 to 1.00 December 31, 2017 4.00 to 1.00 March 31, 2018 4.00 to 1.00 June 30, 2018 4.00 to 1.00 September 30, 2018 3.75 to 1.00 December 31, 2018 3.75 to 1.00 March 31, 2019 3.75 to 1.00 June 30, 2019 3.75 to 1.00 September 30, 2019 3.25 to 1.00 December 31, 2019 3.25 to 1.00 March 31, 2020 2.75 3.25 to 1.00 June 30, 2020 2.50 3.25 to 1.00 September 30, 2020 2.25 to 1.00 December 31, 2020 and each Fiscal Quarter ending thereafter 2.00 2.75 to 1.00

Appears in 1 contract

Samples: Credit Agreement (e.l.f. Beauty, Inc.)

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Consolidated Total Net Leverage Ratio. The Solely with respect to the Revolving Facility and solely if, on the last day of a calendar quarter, the aggregate principal amount of Revolving Loans and Letters of Credit Parties shall not (excluding Letters of Credit that have been Cash Collateralized) outstanding (the “Revolver Usage”) exceeds 30% of the aggregate amount of the Revolving Credit Commitments, permit the Consolidated Total Net Leverage Ratio as of to exceed the last day of any four Fiscal Quarter period ending on a date applicable ratio set forth below to be greater than opposite the ratio applicable period set forth in the table below opposite such datebelow: Date Maximum Period Consolidated Total Net Leverage Ratio September 30, 2017 3.50 to 1.00 December 31, 2017 3.50 to 1.00 Closing Date through March 31, 2018 3.50 4.75 to 1.00 June 30April 1, 2018 3.50 to 1.00 September 30, 2018 3.25 to 1.00 December 31, 2018 3.00 to 1.00 March 31, 2019 N/A through June 30, 2019 4.25 to 1.00 September 30, 2019 3.75 to 1.00 December 31July 1, 2019 3.00 to 1.00 Date Maximum Consolidated Total Net Leverage Ratio March 31, 2020 2.75 to 1.00 through June 30, 2020 2.50 3.50 to 1.00 July 1, 2020 through September 30, 2020 2.25 2021 3.25 to 1.00 December 31October 1, 2020 and thereafter 2.00 2021 through Latest Maturity Date 3.00 to 1.00

Appears in 1 contract

Samples: Credit Agreement (Blucora, Inc.)

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