Maximum Consolidated Total Leverage Ratio. The Borrower will cause the Consolidated Total Leverage Ratio to be less than (a) 4.00 to 1.00 at all times during the period from the Effective Date to and including December 30, 2009, (b) 3.75 to 1.00 at all times during the period from December 31, 2009 to and including December 30, 2010 and (c) less than 3.50 to 1.00 at all times thereafter.
Maximum Consolidated Total Leverage Ratio. Borrower shall not permit the Consolidated Total Leverage Ratio as of the last day of any Fiscal Quarter set forth below to exceed the correlative ratio indicated below: Period Maximum Consolidated Total Leverage Ratio 2nd Fiscal Quarter, Fiscal Year 2001 4.50:1.00 3rd Fiscal Quarter, Fiscal Year 2001 4.50:1.00 4th Fiscal Quarter, Fiscal Year 2001 4.50:1.00 1st Fiscal Quarter, Fiscal Year 2002 4.50:1.00 2nd Fiscal Quarter, Fiscal Year 2002 4.25:1.00 3rd Fiscal Quarter, Fiscal Year 2002 4.25:1.00 4th Fiscal Quarter, Fiscal Year 2002 4.25:1.00 1st Fiscal Quarter, Fiscal Year 2003 4.25:1.00 2nd Fiscal Quarter, Fiscal Year 2003 4.00:1.00 3rd Fiscal Quarter, Fiscal Year 2003 4.00:1.00 4th Fiscal Quarter, Fiscal Year 2003 3.75:1.00 1st Fiscal Quarter, Fiscal Year 2004 3.75:1.00 2nd Fiscal Quarter, Fiscal Year 2004 3.75:1.00 3rd Fiscal Quarter, Fiscal Year 2004 3.75:1.00 4th Fiscal Quarter, Fiscal Year 2004 3.50:1.00 1st Fiscal Quarter, Fiscal Year 2005 3.25:1.00 and each Fiscal Quarter thereafter
Maximum Consolidated Total Leverage Ratio. Permit, as of the last day of any fiscal quarter (commencing with the fiscal quarter ending December 31, 2013), for the twelve (12) month period ending on such day, the Consolidated Total Leverage Ratio to exceed the Maximum Consolidated Total Leverage Ratio applicable as of such day in accordance with the definition thereof.
Maximum Consolidated Total Leverage Ratio. The Loan Parties shall not permit the Consolidated Total Leverage Ratio as of the last day of any Fiscal Quarter ending during any of the periods set forth below to exceed the correlative ratio indicated: Period Maximum Consolidated Total Leverage Ratio ------ ----------------------------------------- July 1, 2004 to June 30, 2005 6.0 to 1.0 July 1, 2005 to June 30, 2006 5.5 to 1.0 July 1, 2006 to June 30, 2007 5.0 to 1.0 July 1, 2007 to June 30, 2008 4.0 to 1.0 July 1, 2008 and thereafter 3.5 to 1.0
Maximum Consolidated Total Leverage Ratio. Maintain at all times a Consolidated Total Leverage Ratio not greater than 0.50 to 1.00.
Maximum Consolidated Total Leverage Ratio. For so long as any Lender shall have any Revolving Credit Commitments or Revolving Credit Loans outstanding, permit the Consolidated Total Leverage Ratio as of the last date of any four-fiscal quarter period of the Borrower ending on the date set forth below to be more than the ratio set forth opposite the last date of such four-fiscal quarter period below: Four-Fiscal Quarter Period Ending Ratio September 30, 2007 5.50:1.00 December 31, 2007 5.25:1.00 March 31, 2008 5.00:1.00 June 30, 2008 4.75:1.00 September 30, 2008 4.50:1.00 December 31, 2008 4.25:1.00 March 31, 2009 4.00:1.00 June 30, 2009 4.00:1.00 September 30, 2009 4.00:1.00 December 31, 2009 4.00:1.00 March 31, 2010 and thereafter 3.50:1.00
Maximum Consolidated Total Leverage Ratio. The Servicer will cause the Consolidated Total Leverage Ratio at all times during the fiscal quarters of the Servicer set forth below to be less than the ratio set forth opposite such fiscal quarter below: Fiscal Quarter Ending Ratio June 30, 2009 5.25:1.00 September 30, 2009 6.625:1.00 December 31, 2009 7.125:1.00 March 31, 2010 7.80:1.00 June 30, 2010 7.80:1.00 September 30, 2010 7.25:1.00 December 31, 2010 6.625:1.00 March 31, 2011 6.50:1.00 June 30, 2011 6.375:1.00 September 30, 2011 6.25:1.00 December 31, 2011 5.75:1.00 March 31, 2012 5.75:1.00 June 30, 2012 5.25:1.00 September 30, 2012 4.75:1.00 December 31, 2012 4.50:1.00 March 31, 2013 4.50:1.00 June 30, 2013 4.25:1.00 September 30, 2013 3.75:1.00 December 31, 2013, 3.50:1.00 and thereafter
Maximum Consolidated Total Leverage Ratio. The Borrower will not permit the Consolidated Total Leverage Ratio for any fiscal quarter of the Borrower set forth below to be greater than or equal to the ratio set forth opposite such fiscal quarter below: Fiscal Quarter Ending Ratio December 31, 2017 5.25:1.00 March 31, 2018 5.25:1.00 June 30, 2018 5.25:1.00 September 30, 2018 5.00:1.00 December 31, 2018 4.75:1.00 March 31, 2019 4.50:1.00 June 30, 2019 4.25:1.00 September 30, 2019 and each fiscal quarter thereafter 4.00:1.00
Maximum Consolidated Total Leverage Ratio. Permit the Consolidated Total Leverage Ratio of the Borrower and its Consolidated Subsidiaries as of the last day of any consecutive four fiscal quarter period identified below to be greater than the ratio set forth below opposite such date: Four Fiscal Quarters Ending Maximum Consolidated Leverage Ratio June 30, 2014, September 30, 2014, December 31, 2014, March 31, 2015 and June 30, 2015 4.50 to 1.00 September 30, 2015, and December 31, 2015 4.25 to 1.00 March 31, 2016, and June 30, 2016 4.00 to 1.00 September 30, 2016 and the last day of each fiscal quarter thereafter 3.75 to 1.00 Notwithstanding the foregoing, at the election of the Borrower, up to two times during the term of this Agreement, the maximum Consolidated Total Leverage Ratio set forth in the grid above may be increased to accommodate a Permitted Acquisition, as determined by the Borrower and as designated in the Compliance Certificate; provided, however, that (i) such increase shall only apply for a period of twelve months after such Permitted Acquisition and immediately upon the expiration of such twelve month period, the required maximum Consolidated Total Leverage Ratio shall revert to the level set forth above for the measurement period in which such step down occurs; (ii) in no event shall the maximum Consolidated Total Leverage Ratio after giving effect to any such step-up exceed 5.00 to 1.00; and (iii) the maximum amount that any Consolidated Total Leverage Ratio covenant level may step-up during any Consolidated Total Leverage Ratio measurement period is 0.50.
Maximum Consolidated Total Leverage Ratio. Borrower shall not permit the Consolidated Total Leverage Ratio, determined as at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2019, to be greater than the levels set forth below. Fiscal Quarter End Date Ratio June 30, 2019 4.50:1.00 September 30, 2019 4.50:1.00 December 31, 2019 4.50:1.00 March 31, 2020 4.00:1.00 June 30, 2020 4.00:1.00 September 30, 2020 4.00:1.00 December 31, 2020 4.00:1.00 March 31, 2021 3.50:1.00 June 30, 2021 3.50:1.00 September 30, 2021 3.50:1.00 December 31, 2021 3.50:1.00 March 31, 2022 3.00:1.00 June 30, 2022 3.00:1.00 September 30, 2022 3.00:1.00 December 31, 2022 3.00:1.00 March 31, 2023 2.50:1.00
