Common use of Maximum Total Leverage Ratio Clause in Contracts

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit Permit the Total Leverage Ratio, Ratio as of the last day of any Fiscal Quarter fiscal quarter, commencing with the fiscal quarter ending during any period set forth belowSeptember 30, 2013, to exceed the ratio set forth opposite below with respect to such period in the table belowfiscal quarter: ​ Test Period Fiscal Quarters Ending Maximum Total Leverage Ratio September 30, 2013 and December 31, 2013 4.00 to 1.00 March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 2014 3.50 to 1.00 June 30, 2022 2014 and September 30, 2014 3.00 to 1.00 December 31, 2014, March 31, 2015 and June 30, 2015 4.50 to 1.00 September 30, 2022 6.50 2015 4.00 to 1.00 December 31, 2022 – 2015 3.50 to 1.00 March 31, 2016 3.25 to 1.00 June 30, 2023 4.25 2016 3.00 to 1.00 September 30, 2023 6.25 2016 and thereafter 2.75 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​1.00

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​.

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit Permit the Total Leverage Ratio, Ratio as of the last day of any Fiscal Quarter fiscal quarter, commencing with the fiscal quarter ending during any period set forth belowDecember 31, 2014, to exceed the ratio set forth opposite below with respect to such period in the table belowfiscal quarter: ​ Test Period Ending Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarters ending December 31, 2014, March 31, 2021 – 2015 and June 30, 2021 2015 4.50 to 1.00 Fiscal quarter ending September 30, 2015 4.00 to 1.00 September 30Fiscal quarter ending December 31, 2021 – 2015 3.50 to 1.00 Fiscal quarter ending March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 2016 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter quarter ending June 30, 2020 and 2016 10.00 to 1.00 Fiscal quarter ending September 30, 2020 shall be deemed 2016 4.50 to be $4,988,638 1.00 Fiscal quarter ending December 31, 2016 4.50 to 1.00 Fiscal quarters ending March 31, 2017 and $4,053,202, respectively. ​ ​ ​ ​thereafter 2.75 to 1.00

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – March 31, 2023 5.00 to 1.00 June 30, 2023 4.25 4.50 to 1.00 September 30, 2023 6.25 4.00 to 1.00 December 31, 2023 5.50 3.50 to 1.00 March 31, 2024 5.25 to 1.00 – June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes fiscal quarter of calculating the Borrower ending during the relevant period set forth below, the Borrower shall not permit the Total Leverage Ratio hereunder, to be greater than the Consolidated EBITDA for corresponding ratio set forth opposite such period: Relevant Period(s) Total Leverage Ratio shall not be greater than: Beginning with the Fiscal Quarter fiscal quarter ending June 30, 2018 and through and including the fiscal quarter ending December 31, 2018 4.00 to 1.00 Beginning with the fiscal quarter ending March 31, 2019 and through and including the fiscal quarter ending December 31, 2019 3.50 to 1.00 Beginning with the fiscal quarter ending March 31, 2020 and September 30through and including the fiscal quarter ending December 31, 2020 shall be deemed 3.00 to be $4,988,638 1.00 Beginning with the fiscal quarter ending March 31, 2021 and $4,053,202, respectively. ​ ​ ​ ​each fiscal quarter ending thereafter 2.50 to 1.00

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the The Total Leverage Ratio, as of the last day of any each Fiscal Quarter for each Test Period (commencing with the Test Period ending during any period set forth belowon March 31, 2024) to exceed the ratio amount set forth below opposite such period in the table belowdate: ​ Test Period Ending Fiscal Quarter End Date Maximum Total Leverage Ratio March 31, 2021 – 2024 5.00 to 1.00 June 30, 2021 4.00 2024 5.00 to 1.00 September 30, 2021 – 2024 5.00 to 1.00 December 31, 2024 5.00 to 1.00 March 31, 2022 3.75 2025 4.50 to 1.00 June 30, 2022 2025 4.50 to 1.00 September 30, 2022 6.50 2025 4.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 2025 4.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of 2026 and the last day of each Fiscal Quarter ending thereafter 3.00 4.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​126

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit Permit the Total Leverage Ratio, Ratio as of the last day of any Fiscal Quarter fiscal quarter, commencing with the fiscal quarter ending during any period set forth belowSeptember 30, 2017,March 31, 2018, to exceed the ratio set forth opposite below with respect to such period in the table belowfiscal quarter: ​ Test Period Ending 113 Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarter ending September 30, 2017 5.50 to 1.00 Fiscal quarter ending December 31, 2017 4.50 to 1.00 Fiscal quarter ending March 31, 2021 – June 30, 2021 4.00 2018 4.505.50 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter quarter ending June 30, 2020 and 2018 4.50 to 1.00 Fiscal quarter ending September 30, 2020 shall be deemed 2018 4.25 to be $4,988,638 1.00 Fiscal quarter ending December 31, 2018 4.25 to 1.00 Fiscal quarters ending June 30, 2018March 31, 2019 and $4,053,202, respectively. ​ ​ ​ ​thereafter 3.00 to 1.00

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit Permit the Total Leverage Ratio, Ratio as of the last day of any Fiscal Quarter fiscal quarter, commencing with the fiscal quarter ending during any period set forth belowSeptember 30, 2017,March 31, 2018, to exceed the ratio set forth opposite below with respect to such period in the table belowfiscal quarter: ​ Test Period Ending Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarter ending September 30, 2017 5.50 to 1.00 Fiscal quarter ending December 31, 2017 4.50 to 1.00 Fiscal quarter ending March 31, 2021 – June 30, 2021 4.00 2018 4.505.50 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter quarter ending June 30, 2020 and 2018 4.50 to 1.00 Fiscal quarter ending September 30, 2020 shall be deemed 2018 4.25 to be $4,988,638 1.00 Fiscal quarter ending December 31, 2018 4.25 to 1.00 Fiscal quarters ending June 30, 2018March 31, 2019 and $4,053,202, respectively. ​ ​ ​ ​thereafter 3.00 to 1.00

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31June 30, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – June 30, 2023 4.25 3.50 to 1.00 September 30, 2023 6.25 to 1.00 December 31, 2023 5.50 to 1.00 March 31, 2024 5.25 to 1.00 – June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​

Maximum Total Leverage Ratio. Beginning with the Fiscal Quarter ending March 31, 2021, the Credit Parties shall not permit the Total Leverage Ratio, as of the last day of any Fiscal Quarter ending during any period set forth below, to exceed the ratio set forth opposite such period in the table below: ​ Test Period Ending Leverage Ratio March 31, 2021 – June 30, 2021 4.00 to 1.00 September 30, 2021 – March 31, 2022 3.75 to 1.00 June 30, 2022 4.50 to 1.00 September 30, 2022 6.50 to 1.00 December 31, 2022 – March 31, 2023 5.00 to 1.00 June 30, 2023 4.25 4.50 to 1.00 September 30, 2023 6.25 4.00 to 1.00 December 31, 2023 5.50 3.50 to 1.00 March 31, 2024 5.25 to 1.00 – June 30, 2024 3.25 to 1.00 As of the last day of each Fiscal Quarter thereafter 3.00 to 1.00 ​ ; provided that for purposes of calculating the Total Leverage Ratio hereunder, the Consolidated EBITDA for the Fiscal Quarter ending June 30, 2020 and September 30, 2020 shall be deemed to be $4,988,638 and $4,053,202, respectively. ​ ​ ​ ​.