Closing Date Leverage. The Group Member’s (x) Consolidated Total Net Leverage shall not exceed 4.50:1.00 and (y) Consolidated Fixed Charge Coverage Ratio shall not exceed 1.25:1.00, in each case after giving effect to the funding of the initial Loans on the Closing Date and to the consummation of the transactions contemplated hereby, including payment in full of the obligations under the Existing Credit Agreement and, subject to clause (c) above, the 2022 Notes.
Closing Date Leverage. The Group Members’ Consolidated Total Net Leverage shall not exceed 1.50:1.00 after giving effect to the funding of the initial Loans on the Closing Date and to the consummation of the transactions contemplated hereby, including payment in full of the obligations under the Existing Credit Agreement.
Closing Date Leverage. After giving effect to the Closing Date Distribution and the incurrence of the Loans by Borrower and the costs and expenses in connection with the foregoing, the Consolidated Senior Leverage Ratio (for the trailing four quarters ending on the fiscal quarter immediately preceding the Closing Date) is equal to or lesser than 2.00:1.00. For purposes of determining compliance with the conditions specified in this Section 5.1, each Lender that has executed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter either sent (or made available) by the Administrative Agent to such Lender for consent, approval, acceptance or satisfaction, or required thereunder to be consented to or approved by or acceptable or satisfactory to such Lender.
