Senior Secured Net Leverage Ratio. Permit the Senior Secured Net Leverage Ratio as of the last day of the four consecutive fiscal quarter period of the Designated Company then last ended (in each case taken as one accounting period), beginning with the four fiscal quarter period ending September 30, 2016, to be greater than 3.50 to 1.00.
Senior Secured Net Leverage Ratio. Permit the Senior Secured Net Leverage Ratio as of the last day of any Test Period to be greater than 4.00 to 1.00 (commencing with the Test Period ending on the last day of the fiscal quarter ending December 31, 2016) (such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent pursuant to Section 6.01(a) and Section 6.01(b) for such Test Period) (the “Leverage Covenant”).
Senior Secured Net Leverage Ratio. The Borrower shall not, as of the last day of any fiscal quarter, permit the Senior Secured Net Leverage Ratio to exceed 2.25 to 1.0.
Senior Secured Net Leverage Ratio. Solely with respect to the Revolving Commitments and the Revolving Exposure, the Borrower will not permit the Senior Secured Net Leverage Ratio as at the last day of any period of four consecutive fiscal quarters ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: Period Ratio January 1, 2018, through June 30, 2018 2.50 to 1.00 July 1, 2018, through December 31, 2018 2.25 to 1.00 January 1, 2019, and thereafter 2.00 to 1.00
Senior Secured Net Leverage Ratio. Except with the consent of the Required Revolving Credit Lenders, the Borrower Parties will not permit the Senior Secured Net Leverage Ratio as of the last day of any Test Period ending during any period set forth in the table below to be greater than the ratio set forth below opposite the last day of such Test Period: Test Period Senior Secured Net Leverage Ratio June 30, 2011-December 31, 2011 5.00 to 1.0 Thereafter 5.00 to 1.0 Notwithstanding the foregoing, this Section 7.11 shall be in effect (and shall only be in effect) when the sum of the aggregate principal amount of any Revolving Credit Loans and/or Swing Line Loans then outstanding plus the aggregate amount of any L/C Obligations then outstanding (excluding Letters of Credit that have been Cash Collateralized to at least 100% of the undrawn amount thereof) at such time exceeds 20% of the total amount of the Revolving Credit Commitments (including any Additional Revolving Credit Commitments).
Senior Secured Net Leverage Ratio. Solely with respect to the Revolving Facility and as of the last day of any fiscal quarter (commencing with the fiscal quarter ending December 31, 2018), the Borrower will not permit the Senior Secured Net Leverage Ratio to exceed the ratio set forth below applicable to such fiscal quarter; provided, that the provisions of this Section 6.10 shall not apply if no Revolving Exposure is outstanding as of the last day of such fiscal quarter other than (x) LC Exposures equal to or less than $5,000,000 in the aggregate and (y) Letters of Credit that have been cash collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank: Period During Which the Fiscal Quarter Is Ending Senior Secured Net Leverage Ratio December 31, 2018 to March 31, 2019 6.25 to 1.00 June 30, 2019 to September 30, 2019 6.00 to 1.00 December 31, 2019 and thereafter 5.50 to 1.00
Senior Secured Net Leverage Ratio. The Parent will not permit the Senior Secured Net Leverage Ratio as of the last day of any fiscal quarter ending on any date during any period below to exceed the ratio set forth below opposite such period: Period Ratio Effective Date through December 31, 2014 2.50:1.00 January 1, 2015 and thereafter 2.00:1.00
Senior Secured Net Leverage Ratio. Permit the Senior Secured Net Leverage Ratio the last day of any fiscal quarter set forth below to be greater than the ratio set forth opposite such period below: Period Ratio The last day of the Borrower’s fiscal quarter ending June 30, 2008 through and including the day before the last day of Holdings’ fiscal quarter ending December 31, 2008 6.50:1.00 The last day of the Borrower’s fiscal quarter ending December 31, 2008 through and including the day before the last day of the Borrower’s fiscal quarter ending June 30, 2009 6.25:1.00 The last day of the Borrower’s fiscal quarter ending June 30, 2009 through and including the day before the last day of Borrower’s fiscal quarter ending June 30, 2010 6.00:1.00 The last day of the Borrower’s fiscal quarter ending June 30, 2010 through and including the day before the last day of Borrower’s fiscal quarter ending June 30, 2011 5.75:1.00 The last day of the Borrower’s fiscal quarter ending June 30, 2011 through and including the day before the last day of the Borrower’s fiscal quarter ending June 30, 2012 5.25:1.00 Thereafter 5.00:1.00
Senior Secured Net Leverage Ratio. After giving pro forma effect to the borrowings to be made on the Increase Effective Date and to the consummation of any Permitted Acquisition or other Investment or application of funds made with the proceeds of such borrowings, the Senior Secured Net Leverage Ratio at such date shall be not greater than 2.5 to 1.0 (provided that in calculating the Senior Secured Net Leverage Ratio, the proceeds of the Term B-2 Loans shall be excluded from Unrestricted Cash).
Senior Secured Net Leverage Ratio. Commencing with the Test Period ending on the last day of the first full fiscal quarter that begins after the Closing Date, the Borrower will not permit the Senior Secured Net Leverage Ratio on the last day of each Test Period to be greater than 3.75 to 1.00.
