Consolidated First Lien Debt Ratio Sample Clauses

Consolidated First Lien Debt Ratio. Commencing with the fiscal quarter ending December 31, 2021, if, as of the last Business Day of any Test Period, the Revolving Facility Usage is equal to or greater than 50%, the Borrower shall not permit the Consolidated First Lien Debt Ratio as of the last day of such Test Period to be greater than (i) 5.00 to 1.00, for the fiscal quarters ending December 31, 2021 through September 30, 2023 and (ii) 4.00 to 1.00, for the fiscal quarter ending December 31, 2023 and each fiscal quarter thereafter.

Consolidated First Lien Debt Ratio. If, as of the last Business Day of any Test Period, the Borrower is required to test the Consolidated First Lien Debt Ratio under Section 6.10 of the Revolving Credit Agreement, the Borrower shall not permit the Consolidated First Lien Debt Ratio as of the last day of such Test Period to be greater than (i) 5.00 to 1.00, for the fiscal quarter ending September 30, 2023 and (ii) 4.00 to 1.00, for the fiscal quarter ending December 31, 2023 and each fiscal quarter thereafter.

Consolidated First Lien Debt Ratio. If, as of the last Business Day of any Test Period, the Revolving Facility Usage is equal to or greater than 50%, the Borrower shall not permit the Consolidated First Lien Debt Ratio as of the last day of such Test Period to be greater than (i) 8.75 to 1.00, for the fiscal quarter ending March 31, 2025, (ii) 7.25 to 1.00, for the fiscal quarter ending June 30, 2025, (iii) 6.75 to 1.00, for the fiscal quarter ending September 30, 2025, (iv) 6.50 to 1.00, for the fiscal quarter ending December 31, 2025, (v) 7.25 to 1.00, for each of the fiscal quarters ending March 31, 2026 through September 30, 2026 and (vi) 6.75 to 1.00, for the fiscal quarter ending December 31, 2026 and each fiscal quarter thereafter.

Consolidated First Lien Debt Ratio. Commencing with the first full fiscal quarter ending after the First Initial Term Loan Funding Date, if, as of the last Business Day of any Test Period the Revolving Facility usage (as defined in the Revolving Credit Agreement) is equal to or greater than 50%, the Borrower shall not permit the Consolidated First Lien Debt Ratio (as defined in, and as calculated pursuant to, the Revolving Credit Agreement as of the date hereof) for the Borrower and the Restricted Subsidiaries as of the last day of any Test Period to exceed 4.00 to 1.00.

Consolidated First Lien Debt Ratio. A. Consolidated Total Indebtedness secured by a Lien 4 Applicable to any Compliance Certificate delivered with respect to New Initial Revolving Commitments only.