Common use of Net Leverage Ratio Clause in Contracts

Net Leverage Ratio. The Borrower will not permit the Net Leverage Ratio to be greater than 3.5 to 1.0 as of the end of any fiscal quarter; provided that, if elected in writing by the Borrower to the Administrative Agent, for the twelve month period starting as of the date of any Material Acquisition, the Net Leverage Ratio shall not exceed 3.75:1.00 as of the last day of any fiscal quarter ending during such twelve month period; provided further that (i) in no event may the Borrower make such election more than twice during the term of this Agreement and (ii) the Borrower may not make the second such election until at least two full fiscal quarters after the end of the first such twelve month period elected by the Borrower.

Net Leverage Ratio. The Borrower will not permit the Net Leverage Ratio to be greater than 3.5 to 1.0 as of the end of any fiscal quarter; provided that, if elected in writing by the Borrower to the Administrative Agent, for the twelve month period starting as of the date of any Material Acquisition, the Net Leverage Ratio shall not exceed 3.75:1.00 4.00:1.00 as of the last day of any fiscal quarter ending during such twelve month period; provided further that (i) in no event may the Borrower make such election more than twice during the term of this Agreement and (ii) the Borrower may not make the second such election until at least two full fiscal quarters after the end of the first such twelve month period elected by the Borrower.