Net Leverage Ratio. As of the last day of any fiscal quarter (commencing with fiscal quarter ending March 31, 2022), permit the Net Leverage Ratio on a pro forma basis for the applicable Test Period to be greater than the Net Leverage Ratio set forth in the table below: Quarter Ending or Ended Ratio March 31, 2022 5.00 to 1.00 June 30, 2022 5.00 to 1.00 September 30, 2022 5.00 to 1.00 December 31, 2022 5.00 to 1.00 March 31, 2023 5.25 to 1.00 June 30, 2023 5.50 to 1.00 September 30, 2023 5.50 to 1.00 December 31, 2023 5.25 to 1.00 March 31, 2024 5.00 to 1.00 June 30, 2024 4.25 to 1.00 September 30, 2024 4.25 to 1.00 December 31, 2024 4.25 to 1.00 March 31, 2025 4.25 to 1.00 June 30, 2025 and thereafter 3.75 to 1.00 provided, however, for any fiscal quarter ended after March 31, 2025, such Net Leverage Ratio shall be increased to 4.50 to 1.00 for each of the four fiscal quarters ending immediately following the consummation of any Material Acquisition.
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Net Leverage Ratio. As of the last day of any fiscal quarter (commencing with fiscal quarter ending March 31, 2022), permit the Net Leverage Ratio on a pro forma basis for the applicable Test Period to be greater than the Net Leverage Ratio set forth in the table below: Quarter Ending or Ended Ratio March 31, 2022 5.00 to 1.00 June 30, 2022 5.00 to 1.00 September 30, 2022 5.00 to 1.00 December 31, 2022 5.00 to 1.00 March 31, 2023 5.25 to 1.00 June 30, 2023 5.50 to 1.00 September 30, 2023 5.50 to 1.00 December 31, 2023 5.25 to 1.00 March 31, 2024 5.00 to 1.00 June 30, 2024 4.75 to 1.00 September 30, 2024 4.75 to 1.00 December 31, 2024 4.75 to 1.00 March 31, 2025 4.75 to 1.00 June 30, 2025 4.25 to 1.00 September 30, 2024 4.25 2025 4.00 to 1.00 December 31, 2024 4.25 to 1.00 March 31, 2025 4.25 to 1.00 June 30, 2025 and thereafter 3.75 to 1.00 provided, however, for any fiscal quarter ended after March 31September 30, 2025, such Net Leverage Ratio shall be increased to 4.50 to 1.00 for each of the four fiscal quarters ending immediately following the consummation of any Material Acquisition.
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Samples: Fourth Amendment (Baxter International Inc), Fourth Amendment (Baxter International Inc)
Net Leverage Ratio. As of the last day of any fiscal quarter (commencing with fiscal quarter ending March 31, 2022), permit the Net Leverage Ratio on a pro forma basis for the applicable Test Period to be greater than the Net Leverage Ratio set forth in the table below: Quarter Ending or Ended Ratio March 31, 2022 5.00 to 1.00 Quarter Ending or Ended Ratio June 30, 2022 5.00 to 1.00 September 30, 2022 5.00 to 1.00 December 31, 2022 5.00 to 1.00 March 31, 2023 5.25 5.00 to 1.00 June 30, 2023 5.50 5.00 to 1.00 September 30, 2023 5.50 5.00 to 1.00 December 31, 2023 5.25 5.00 to 1.00 March 31, 2024 5.00 to 1.00 June 30, 2024 4.25 to 1.00 September 30, 2024 4.25 to 1.00 December 31, 2024 4.25 to 1.00 March 31, 2025 4.25 to 1.00 June 30, 2025 and thereafter 3.75 to 1.00 provided, however, for any fiscal quarter ended after March 31, 2025, such Net Leverage Ratio shall be increased to 4.50 to 1.00 for each of the four fiscal quarters ending immediately following the consummation of any Material Acquisition.
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Net Leverage Ratio. As of the last day of any fiscal quarter (commencing with fiscal quarter ending March 31, 2022), permit the Net Leverage Ratio on a pro forma basis for the applicable Test Period to be greater than the Net Leverage Ratio set forth in the table below: Quarter Ending or Ended Ratio March 31, 2022 5.00 to 1.00 June 30, 2022 5.00 to 1.00 September 30, 2022 5.00 to 1.00 December 31, 2022 5.00 to 1.00 March 31, 2023 5.25 5.00 to 1.00 June 30, 2023 5.50 5.00 to 1.00 September 30, 2023 5.50 5.00 to 1.00 December 31, 2023 5.25 5.00 to 1.00 March 31, 2024 5.00 to 1.00 June 30, 2024 4.25 to 1.00 September 30, 2024 4.25 to 1.00 December 31, 2024 4.25 to 1.00 March 31, 2025 4.25 to 1.00 June 30, 2025 and thereafter 3.75 to 1.00 provided, however, for any fiscal quarter ended after March 31, 2025, such Net Leverage Ratio shall be increased to 4.50 to 1.00 for each of the four fiscal quarters ending immediately following the consummation of any Material Acquisition.
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