Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio. Solely with respect to the Revolving Credit Facility, Holdings will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period ending during any Compliance Period to be greater than 7.75 to 1.00.
Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio. Solely with respect to the Revolving Credit Facility, commencing with the fiscal quarter ending December 31, 2018, on the last day of any Test Period on which the Revolving Credit Facility Test Condition is then applicable, the Borrower will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio for the Test Period ending on such last day to be greater than 6.75:1.00.
Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio. The Borrower will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio (with Seasonal Revolving Indebtedness being excluded from Consolidated Total Debt for purposes of calculating such ratio in respect of each Test Period ending on the last day of the third fiscal quarter in each fiscal year of the Borrower) for any Test Period ending on the last day of any fiscal quarter of the Borrower set forth below to be greater than the ratio set forth below opposite such fiscal quarter: Fiscal Year Fiscal Quarters Ratio 2014 Fourth 5.75 to 1.00 2015 First, Second, Third and Fourth 5.75 to 1.00 2016 First, Second, Third and Fourth 5.75 to 1.00 2017 First, Second, Third and Fourth 5.50 to 1.00 Each Fiscal Quarter Thereafter 5.25 to 1.00
