Common use of The Average Clause in Contracts

The Average. Consolidated Senior Debt Ratio, determined as at the last day of each of the two most recent fiscal quarters prior to the date of such payment, based upon the most recent financial statements delivered pursuant to clause (a) or (b) of Section 6.01 and calculated on a pro forma basis as if such payment had been made on the first day of each such quarter, shall be less than 2.75:1.00;