Common use of Leverage Ratios Clause in Contracts

Leverage Ratios. (a) Holdings will not permit the Secured Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 3.50 to 1.00; provided that the Secured Leverage Ratio may be increased up to (but not to exceed) 4.00:1.00 for any Fiscal Quarter ending after the Closing Date during which the Holdings or any of its Subsidiaries has consummated an acquisition or other Investment permitted hereunder in which the Purchase Price is $50,000,000 or more (a “Trigger Quarter”) and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Secured Leverage Ratio shall return to 3.50:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the occurrence of a Trigger Quarter (any such Trigger Quarter, an “Initial Trigger Quarter”), no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(a) unless and until the Secured Leverage Ratio is less than or equal to 3.50:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. For the purposes of calculating the financial covenant set forth in this clause (a), the Relief Fund shall be deemed not to be a ‘Subsidiary.’ (b) Holdings will not permit the Total Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 4.25 to 1.00; provided that the Total Leverage Ratio may be increased up to (but not to exceed) 4.75:1.00 for any Trigger Quarter and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Total Leverage Ratio shall return to 4.25:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the Initial Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(b) unless and until the Total Leverage Ratio is less than or equal to 4.25:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. For the purposes of calculating the financial covenant set forth in this clause (b), the Relief Fund shall be deemed not to be a ‘Subsidiary.’

Leverage Ratios. (a) Holdings will not permit the Secured Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 3.50 to 1.00; provided that the Secured Leverage Ratio may be increased up to (but not to exceed) 4.00:1.00 for any Fiscal Quarter ending after the Closing Date during which the Holdings or any of its Subsidiaries has consummated an acquisition or other Investment permitted hereunder in which the Purchase Price is $50,000,000 or more (a “Trigger Quarter”) and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Secured Leverage Ratio shall return to 3.50:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the occurrence of a Trigger Quarter (any such Trigger Quarter, an “Initial Trigger Quarter”), no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(a) unless and until the Secured Leverage Ratio is less than or equal to 3.50:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. For the purposes of calculating the financial covenant set forth in this clause (a), the Relief Fund shall be deemed not to be a ‘Subsidiary.’ (b) Holdings will not permit the Total Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 4.25 to 1.00; provided that the Total Leverage Ratio may be increased up to (but not to exceed) 4.75:1.00 for any Trigger Quarter and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Total Leverage Ratio shall return to 4.25:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the Initial Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(b) unless and until the Total Leverage Ratio is less than or equal to 4.25:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. .. For the purposes of calculating the financial covenant set forth in this clause (b), the Relief Fund shall be deemed not to be a ‘Subsidiary.’

Leverage Ratios. (a) Holdings will not permit the Secured Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 3.50 to 1.00; provided that the Secured Leverage Ratio may be increased up to (but not to exceed) 4.00:1.00 for any Fiscal Quarter ending after the Closing Date during which the Holdings or any of its Subsidiaries has consummated an acquisition or other Investment permitted hereunder in which the Purchase Price is $50,000,000 or more (a “Trigger Quarter”) and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Secured Leverage Ratio shall return to 3.50:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the occurrence of a Trigger Quarter (any such Trigger Quarter, an “Initial Trigger Quarter”), no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(a) unless and until the Secured Leverage Ratio is less than or equal to 3.50:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. For the purposes of calculating the financial covenant set forth in this clause (a), the Relief Fund shall be deemed not to be a ‘Subsidiary.’ (b) Holdings will not permit the Total Leverage Ratio at the end of any Test Period ending on March 31, June 30, September 30 and December 31 of any calendar year to be more than 4.25 to 1.00; provided that the Total Leverage Ratio may be increased up to (but not to exceed) 4.75:1.00 for any Trigger Quarter and for the next succeeding three (3) Fiscal Quarters; provided, further, that the Total Leverage Ratio shall return to 4.25:1.00 no later than the end of the fourth (4th) Fiscal Quarter after such Trigger Quarter; provided, further, that following the Initial Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 9.13(b) unless and until the Total Leverage Ratio is less than or equal to 4.25:1.00 as of the end of at least three (3) Fiscal Quarters following such Initial Trigger Quarter. .. For the purposes of calculating the financial covenant set forth in this clause (b), the Relief Fund shall be deemed not to be a ‘Subsidiary.’