Common use of Consolidated Debt to Consolidated EBITDA Ratio Clause in Contracts

Consolidated Debt to Consolidated EBITDA Ratio. The Borrower will not permit the Consolidated Debt to Consolidated EBITDA Ratio to exceed 3.50 to 1.0 measured as of the end of each Fiscal Quarter (and in the case of Consolidated EBITDA, for the four-quarter period ending on such date), commencing with the Fiscal Quarter ended September 30, 2019; provided that if in connection with any Acquisition permitted under Section 6.04 (an “Adjustment Acquisition”) (x) for which the cash consideration (including assumed or acquired Debt) for such Acquisition, together with the cash consideration (including assumed or acquired Debt) for all other Acquisitions permitted under Section 6.04 consummated during the then current Fiscal Quarter, equals or exceeds $75,000,000 and (y) the Consolidated Debt to Consolidated EBITDA Ratio equals or exceeds 3.00:1.0 on a Pro Forma Basis, then the maximum Consolidated Debt to Consolidated EBITDA Ratio permitted by this Section 6.03(b) for the Fiscal Quarter in which the Adjustment Acquisition occurs and each of the following four Fiscal Quarters (the “Adjustment Period”) shall be automatically increased to 4.00:1.0; provided, further that there shall be no more than two (2) Adjustment Periods during the term of this Agreement. Following the expiration of any Adjustment Period, the maximum Consolidated Debt to Consolidated EBITDA Ratio cannot be subsequently increased again as provided in the first proviso above (and a subsequent Adjustment Period cannot commence) until the Borrower has delivered a quarterly Compliance Certificate evidencing that the maximum Consolidated Debt to Consolidated EBITDA Ratio does not exceed 3.50 to 1.0 for at least four (4) consecutive Fiscal Quarters.

Consolidated Debt to Consolidated EBITDA Ratio. The Borrower will not permit the Consolidated Debt to Consolidated EBITDA Ratio to exceed 3.50 3.75 to 1.0 measured as of the end of each Fiscal Quarter (and in the case of Consolidated EBITDA, for the four-quarter period ending on such date), commencing with the Fiscal Quarter ended September June 30, 20192022; provided that if in connection with any Acquisition permitted under Section 6.04 (an “Adjustment Acquisition”) (x) for which the cash consideration (including assumed or acquired Debt) for such Acquisition, together with the cash consideration (including assumed or acquired Debt) for all other Acquisitions permitted under Section 6.04 consummated during the then current Fiscal Quarter, equals or exceeds $75,000,000 and (y) the Consolidated Debt to Consolidated EBITDA Ratio equals or exceeds 3.00:1.0 3.50 to 1.0 on a Pro Forma Basis, then the maximum Consolidated Debt to Consolidated EBITDA Ratio permitted by this Section 6.03(b) for the Fiscal Quarter in which the Adjustment Acquisition occurs and each of the following four Fiscal Quarters (the “Adjustment Period”) shall be automatically increased to 4.00:1.04.25 to 1.0; provided, further that there shall be no more than two (2) Adjustment Periods during the term of this Agreement. Following the expiration of any Adjustment Period, the maximum Consolidated Debt to Consolidated EBITDA Ratio cannot be subsequently increased again as provided in the first proviso above (and a subsequent Adjustment Period cannot commence) until the Borrower has delivered a quarterly Compliance Certificate evidencing that the maximum Consolidated Debt to Consolidated EBITDA Ratio does not exceed 3.50 3.75 to 1.0 for at least four (4) consecutive Fiscal Quarters.