Common use of Maximum Consolidated Net Leverage Ratio Clause in Contracts

Maximum Consolidated Net Leverage Ratio. As of the end of each of its fiscal quarters ending after the Closing Date, the Borrower will not permit the Consolidated Net Leverage Ratio for any Measurement Period ended on such date, to exceed 3.50:1.00; provided that, at the Borrower’s written election in accordance with the definition of “Qualified Acquisition”, during the first six consecutive fiscal quarters ended immediately following the consummation of any Qualified Acquisition (including the fiscal quarter in which such Qualified Acquisition occurs), the maximum Consolidated Net Leverage Ratio shall increase to 4.00:1.00 (an “Adjusted Leverage Ratio Period”); provided, further, that following any Adjusted Leverage Ratio Period, the maximum Consolidated Net Leverage Ratio shall be 3.50:1.00 for at least the two full consecutive fiscal quarters following such Adjusted Leverage Ratio Period before the maximum Consolidated Net Leverage Ratio may be increased as a result of a subsequent Qualified Acquisition.

Maximum Consolidated Net Leverage Ratio. As of the end of each of its fiscal quarters ending after the Closing Date, the Borrower Loan Parties will not permit the Consolidated Net Leverage Ratio for any Measurement Period ended on such date, to exceed 3.50:1.003.75:1.00; provided that, at the Borrower’s written election in accordance with the definition of “Qualified Acquisition”, during the first six four consecutive fiscal quarters ended immediately following the consummation of any Qualified Acquisition (including the fiscal quarter in which such Qualified Acquisition occurs), the maximum Consolidated Net Leverage Ratio shall increase to 4.00:1.00 4.50:1.00 (an “Adjusted Leverage Ratio Period”); provided, further, that following any Adjusted Leverage Ratio Period, the maximum Consolidated Net Leverage Ratio shall be 3.50:1.00 3.75:1.00 for at least the two full consecutive fiscal quarters following such Adjusted Leverage Ratio Period before the maximum Consolidated Net Leverage Ratio may be increased as a result of a subsequent Qualified Acquisition.