Common use of First Lien Leverage Ratio Clause in Contracts

First Lien Leverage Ratio. If, on the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.

Appears in 4 contracts

Samples: First Lien Credit Agreement (Waystar Holding Corp.), First Lien Credit Agreement (Waystar Holding Corp.), First Lien Credit Agreement (Waystar Holding Corp.)

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First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) 6.15 shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower Borrowers shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period7.75:1.00.

Appears in 4 contracts

Samples: Credit Agreement (Knowlton Development Corp Inc), Credit Agreement (Knowlton Development Parent, Inc.), Security Agreement (Knowlton Development Parent, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period ending on or after the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as 6.25:1.00, stepping-down to a First Lien Leverage Ratio of 6.00:1.00 for the last day of such Test PeriodFiscal Quarter ended on or about September 30, 2020 and thereafter.

Appears in 3 contracts

Samples: First Lien Credit Agreement (Isos Acquisition Corp.), First Lien Credit Agreement (Isos Acquisition Corp.), First Lien Credit Agreement (Isos Acquisition Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes ending on or after the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower Parent shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period4.00:1.00.

Appears in 2 contracts

Samples: Restatement Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Bausch Health Companies Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a6.15(a) shall not apply until the Test Period that includes earlier than the last day of the second first full Fiscal Quarter ending after the Closing DateDate (and on such date, only to the extent the Revolving Facility Test Condition is then satisfied)), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.90:1.00.

Appears in 2 contracts

Samples: Assignment and Assumption (Shift4 Payments, Inc.), First Lien Credit Agreement (Shift4 Payments, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes satisfied, commencing with the last day of the second first full Fiscal Quarter ending after the Closing DateDate (and on such date, only to the extent the Revolving Facility Test Condition is then satisfied), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.5.40:1.00. 132 XXXX:\98106221\28\78831.0005

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (System1, Inc.), Credit and Guaranty Agreement (System1, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a6.15(a) shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Top Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.75:1.00.

Appears in 2 contracts

Samples: Intercreditor Agreement (Cotiviti Holdings, Inc.), Intercreditor Agreement (Cotiviti Holdings, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes ending on or after the last day of the second full Fiscal Quarter ending after the Closing Date)Date on which the Revolving Facility Test Condition is then satisfied, the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period9.10:1.00.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Ranpak Holdings Corp.), First Lien Credit Agreement (Ranpak Holdings Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied Period (it being understood and agreed that this Section 6.12(a6.13(a) shall not apply until the Test Period that includes earlier than the last day of the second first full Fiscal Quarter ending after the Closing Date), the Administrative Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such (i) for each Test PeriodPeriod ending prior to March 31, 2020, 5.0:1.0 or (ii) for each Test Period ending on or after March 31, 2020, 4.5:1.0.

Appears in 2 contracts

Samples: Credit Agreement (Syneos Health, Inc.), Credit Agreement (Syneos Health, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) 6.15 shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period7.00:1.00.

Appears in 1 contract

Samples: Credit Agreement (Wanda Sports Group Co LTD)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period commencing with the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Borrower Parent shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period[ ]:1.00.

Appears in 1 contract

Samples: Credit Agreement (Reynolds Consumer Products Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period ending on or after the Amendment No. 8 Effective Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Parent Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.00:1.00.

Appears in 1 contract

Samples: Lease I Agreement (Bowlero Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) 6.15 shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the ratio set forth below opposite the last day of such Test Period.: Fiscal Quarter Ending Ratio September 30, 2014 through June 30, 2015 6.50:1.00 September 30, 2015 through June 30, 2016 5.75:1.00 September 30, 2016 and thereafter 5.25:1.00

Appears in 1 contract

Samples: Credit Agreement (Wanda Sports Group Co LTD)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a6.14(a) shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period8.30:1.00.

Appears in 1 contract

Samples: Credit Agreement (Dragoneer Growth Opportunities Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes ending on or after the last day of the second full Fiscal Quarter fiscal quarter ending after the Closing Date)on March 31, 2024, the Borrower shall not permit the Consolidated First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of ratio set forth below for such Test Period.: Test Period Ending Maximum Consolidated First Lien Leverage Ratio March 31, 2024 4.00:1.00 June 30, 2024 3.75:1.00 September 30, 2024 3.50:1.00 December 31, 2024 3.25:1.00 March 31, 2025 3.00:1.00

Appears in 1 contract

Samples: 97570842v91 Credit Agreement (Pagaya Technologies Ltd.)

First Lien Leverage Ratio. If, on the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.. 165

Appears in 1 contract

Samples: First Lien Credit Agreement (Waystar Holding Corp.)

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First Lien Leverage Ratio. If, on the last day of any Test Period, the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.. 169

Appears in 1 contract

Samples: First Lien Credit Agreement (Waystar Holding Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period commencing with the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Borrower Parent shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period5.75:1.00.

Appears in 1 contract

Samples: Credit Agreement (Reynolds Consumer Products Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower Borrowers shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period.7.50:1.00. 157

Appears in 1 contract

Samples: Intercreditor Agreement (Certara, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a6.15(a) shall not apply until the Test Period that includes earlier than the last day of the second first full Fiscal Quarter ending after the Closing DateDate (and on such date, only to the extent the Revolving Facility Test Condition is then satisfied), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.25:1.00.

Appears in 1 contract

Samples: Assignment and Assumption (ATI Physical Therapy, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second first full Fiscal Quarter ending after the Closing Date), the Borrower Borrowers shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period7.50:1.00.

Appears in 1 contract

Samples: Credit Agreement (Certara, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied Period (it being understood and agreed that this Section 6.12(a6.13(a) shall not apply until the Test Period that includes earlier than the last day of the second first full Fiscal Quarter ending after the Closing Date), the Administrative Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such (i) for each Test PeriodPeriod ending prior to March 31, 2019, 5.0:1.0 or (ii) for each Test Period ending on or after March 31, 2019, 4.5:1.0.

Appears in 1 contract

Samples: Credit Agreement (INC Research Holdings, Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a6.14(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date), the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.25:1.00.

Appears in 1 contract

Samples: Credit Agreement (CCC Intelligent Solutions Holdings Inc.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period ending on or after the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as 6.25:1.00, stepping-down to a First Lien Leverage Ratio of 6.00:1.00 for the last day of such Test Period.Fiscal Quarter ended on or about September 30, 2020 and thereafter. 177

Appears in 1 contract

Samples: Security Agreement (Isos Acquisition Corp.)

First Lien Leverage Ratio. If, on On the last day of any Test Period, Period commencing with the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the Test Period that includes the last day of the second full Fiscal Quarter ending after the Closing Date)satisfied, the Borrower Company shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such Test Period6.30:1.00.

Appears in 1 contract

Samples: Credit Agreement (Reynolds Group Holdings LTD)

First Lien Leverage Ratio. If, on On the last day of any Test Period, the Revolving Facility Test Condition is then satisfied Period (it being understood and agreed that this Section 6.12(a6.13(a) shall not apply until the Test Period that includes earlier than the last day of the second first full Fiscal Quarter ending after the Closing Date), the Administrative Borrower shall not permit the First Lien Leverage Ratio to be greater than 8.50:1.00 as of the last day of such (i) for each Test PeriodPeriod ending prior to March 31, 20192020, 5.0:1.0 or (ii) for each Test Period ending on or after March 31, 20192020, 4.5:1.0.

Appears in 1 contract

Samples: Credit Agreement (Syneos Health, Inc.)

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