First Lien Leverage Ratio from Amendment to Credit Agreement
THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as of January 13, 2017, is by and among CARROLS RESTAURANT GROUP, INC., a Delaware corporation (the "Borrower"), certain Subsidiaries of the Borrower party hereto (collectively, the "Guarantors"), the Lenders party hereto (the "Lenders") and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent on behalf of the Lenders under the Credit Agreement (as hereinafter defined) (in such capacity, the "Administrative Agent"). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.
First Lien Leverage Ratio. shall mean, as of any date of determination, for the Credit Parties and their Subsidiaries on a Consolidated basis, the ratio of (a) Consolidated Funded Debt on such date that is