First Lien Leverage Ratio. On the last day of any Test Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.15 shall not apply until the last day of the first full Fiscal Quarter ending after the Closing Date), the Borrowers shall not permit the First Lien Leverage Ratio to be greater than 7.75:1.00.
First Lien Leverage Ratio. The Borrower will not permit its First Lien Leverage Ratio as of the last day of each Fiscal Quarter thereafter (commencing with the Fiscal Quarter ending March 31, 2015) to be greater than 2.50 to 1.00.
First Lien Leverage Ratio. Permit the First Lien Leverage Ratio during any period set forth below to be greater than the ratio set forth opposite such period below: Fiscal Quarter Ended: Ratio December 31, 2005 4.95:1.00 March 31, 2006 4.95:1.00 June 30, 2006 4.95:1.00 September 30, 2006 4.95:1.00 December 31, 2006 4.40:1.00 March 31, 2007 4.40:1.00 June 30, 2007 4.125:1.00 September 30, 2007 3.85:1.00 December 31, 2007 3.575:1.00 March 31, 2008 3.575:1.00 June 30, 2008 3.30:1.00 September 30, 2008 3.30:1.00 December 31, 2008 3.025:1.00 March 31, 2009 3.025:1.00 June 30, 2009 3.025:1.00 September 30, 2009 3.025:1.00 December 31, 2009 2.75:1.00 March 31, 2010 2.75:1.00 June 30, 2010 2.75:1.00 September 30, 2010 2.75:1.00 Schedule 4, Negative Covenants 12 Fiscal Quarter Ended: Ratio December 31, 2010 2.475:1.00 March 31, 2011 2.475:1.00 June 30, 2011 2.475:1.00 September 30, 2011 2.475:1.00 December 31, 2011 2.20:1.00 March 31, 2012 2.20:1.00 June 30, 2012 2.20:1.00 September 30, 2012 2.20:1.00 December 31, 2012 1.925:1.00
First Lien Leverage Ratio. Permit the First Lien Leverage Ratio for any period of 4 consecutive fiscal quarters of Holdings and its Subsidiaries for which the last fiscal month ends on a date set forth below to be greater than the ratio set forth opposite such date: Fiscal Quarter End First Lien Leverage Ratio March 31, 2023 6.38:1.00 April 30, 2023 6.60:1.00 May 31, 2023 6.20:1.00 June 30, 2023 6.00:1.00 July 31, 2023 5.28:1.00 August 31, 2023 4.51:1.00 September 30, 2023 4.12:1.00 October 31, 2023 3.50:1.00 November 30, 2023 3.14:1.00 December 31, 2023 4.63:1.00 January 31, 2024 and each fiscal month ending thereafter 3:50:1.00
First Lien Leverage Ratio. The Borrower will not permit the First Lien Leverage Ratio as of the last day of any fiscal quarter ending on any date during any period set forth below to exceed the ratio set forth below opposite such period: Period Ratio Effective Date to and including June 30, 2013 4.75 to 1.00 July 1, 2013 and thereafter 4.50 to 1.00
First Lien Leverage Ratio. Except during a Suspension Period, the Borrower shall not permit its First Lien Leverage Ratio as of the last day of any fiscal quarter to exceed (a) for the period from the Restatement Effective Date to the second anniversary of the Restatement Effective Date, 4.50 to 1.00 and (b) thereafter, 4.25 to 1.00.
First Lien Leverage Ratio. Permit or suffer the First Lien Leverage Ratio to exceed 2.50 to 1.00 as of the end of any Fiscal Quarter ending on or after March 31, 2020.
First Lien Leverage Ratio. On each Compliance Date, the Borrower shall not permit the First Lien Leverage Ratio as of such Compliance Date to be greater than 3.80:1.00.
First Lien Leverage Ratio. The Parent Borrower will not permit the First Lien Leverage Ratio as of the last day of a Testing Period (commencing with the Testing Period ending April 30, 2013) to be greater than the ratio set forth below opposite such Testing Period: Testing Period Ending Maximum Ratio April 30, 2013 through July 31, 2014 5.50 to 1.00 October 31, 2014 through July 31, 2015 5.00 to 1.00 October 31, 2015 through April 30, 2016 4.75 to 1.00 July 31, 2016 through October 31, 2016 4.50 to 1.00 January 31, 2017 and thereafter 4.25 to 1.00 Any provision of this Agreement that contains a requirement for the Parent Borrower to be in compliance with the covenant contained in this Section 7.06 prior to the time that this covenant is otherwise applicable shall be deemed to require that the First Lien Leverage Ratio for the applicable Testing Period be no greater than 5.50 to 1.00. For the purpose of determining compliance with the covenant set forth in this Section 7.06, (i) all calculations shall be on a Pro Forma Basis and (ii) any cash equity contribution (which equity shall be common equity, Qualified Equity or other equity (other than Disqualified Equity Interests) (such other equity to be on terms reasonably acceptable to the Administrative Agent) made to the Parent Borrower, directly or indirectly, by one or more of its stockholders after the beginning of the relevant fiscal quarter and on or prior to the day that is ten (10) Business Days after the day on which financial statements are required to be delivered for such fiscal quarter pursuant to Section 6.01(a) or (b), as applicable, will, at the written direction of Parent Borrower, be included in the calculation of Consolidated EBITDA solely for the purposes of determining compliance with the covenant set forth in this Section 7.06 at the end of such fiscal quarter, and applicable subsequent periods which includes such fiscal quarter (any such equity contribution so included in the calculation of Consolidated EBITDA, a “Specified Equity Contribution”); provided, that (A) in each trailing four fiscal quarter period, there shall be at least two fiscal quarters in respect of which no Specified Equity Contribution is made, (B) the amount of any Specified Equity Contribution shall be no greater than the amount required to cause the Parent Borrower to be in compliance with the covenant set forth in this Section 7.06, (C) all Specified Equity Contributions shall be disregarded for purposes of determining any financial ratio-ba...
First Lien Leverage Ratio. Borrower shall maintain at all times, as determined on the last day of each fiscal quarter for the twelve (12) month period then ending, a First Lien Leverage Ratio of no greater than (i) for the period ending December 31, 2014, 3.00 to 1.00; (ii) for the period ending March 31, 2015, 2.75 to 1.00; (iii) for the period ending June 30, 2015, 2.50 to 1.00; (iv) for the period ending September 30, 2015, 2.25 to 1.00; and (v) for the period ending December 31, 2015, and each fiscal quarter thereafter, 2.00 to 1.00.
