Common use of Consolidated Senior Secured Leverage Ratio Clause in Contracts

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00exceed 1.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower prior to (beginning with the Investment Grade Date fiscal quarter ended September 30, 2018) to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (iiA) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at all other times, 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date Measurement Period to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit As of any fiscal quarter end, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 1.25 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit As of the last day of any fiscal quarter, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 2.50 to 1.00 and (iisubject to clause (e) during a Specified Acquisition Period, 4.00 to 1.00below).

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) prior to the Leverage Date, 3.00 to 1.00, (ii) on and after the Leverage Date (except during a Specified Acquisition Period), 3.75 3.50 to 1.00 and (iiiii) during a Specified Acquisition Period, 4.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower prior to (beginning with the Investment Grade Date period ending December 31, 2014) to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (iiA) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at all other times, 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit From and after the incurrence by the Borrower and/or any of its Subsidiaries of Permitted Notes Indebtedness, the Borrower will not, as of the last day of each fiscal quarter then remaining during the term of this Agreement, permit its Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 exceed 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit The Borrower will not permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any fiscal quarter of the Borrower prior Test Period to the Investment Grade Date exceed 3.50 to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit The Borrower shall maintain, as determined as of the last day of each Fiscal Quarter, a Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater not more than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 2.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except 2.25:1.00 as of the end of each fiscal quarter of the Borrower ending during a Specified Acquisition Periodthe period from the Eighth Amendment Effective Date to and including March 31, 3.75 to 1.00 2024 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.00:1.00 as of the end of each fiscal quarter of the Borrower ending thereafter.

Consolidated Senior Secured Leverage Ratio. Permit As of the end of each fiscal quarter, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.00:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Borrowers following the Investment Grade Closing Date and ending on or after the date of a Qualified Note Offering to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.50:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as at any time during any period of the end of any four fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00, and (ii) at all other times, 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any period of four fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 2.50 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit From and after the incurrence by the Borrower and/or any of its Subsidiaries of Material Notes Indebtedness, the Borrower shall not, as of the last day of each fiscal quarter then remaining during the term of this Agreement, permit its Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 exceed 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit If a Qualified Offering has been consummated, permit the Consolidated Senior Secured Leverage Ratio as at any time during any period of the end of any four fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as at any time during any period of the end of any four fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 exceed 3.50 to 1.00 from and after the date on which the Borrower issues Qualified Senior Notes in an aggregate principal amount (iiwhen combined with all other Qualified Senior Notes previously or concurrently issued) during a Specified Acquisition Period, 4.00 to 1.00that equals or exceeds $200,000,000.

Consolidated Senior Secured Leverage Ratio. Permit Commencing with the fiscal quarter of the Borrower ending March 31, 2021, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date PRA ending after December 31, 2020 to be greater than (i) except during a Specified Acquisition Period, 3.75 2.25 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit the The Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 3.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 2.00 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001:00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 1.75 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any fiscal quarter period of four consecutive Fiscal Quarters of the Borrower prior to ending after the Investment Grade Restatement Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.004.5x.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of on the end last day of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.00:1.00.”

Consolidated Senior Secured Leverage Ratio. Permit At any time during which any Permitted Convertible Indebtedness is outstanding, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 3.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Company (commencing with the Investment Grade Date fiscal quarter ended March 31, 2015) to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.5:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end of any fiscal quarter of period set forth below to exceed the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 ratio set forth below opposite such period: Consolidated Senior Secured Period Leverage Ratio 1/1/07 - 3/31/07 2.20x 4/1/07 - 6/30/07 2.20x 7/1/07 - 9/30/07 2.20x 10/1/07 - 12/31/07 2.20x 1/1/08-3/31/08 2.20x 4/1/08 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.thereafter 2.20x

Consolidated Senior Secured Leverage Ratio. Permit Commencing with the fiscal quarter of the Borrower ending June 30, 2022, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00exceed 1.25:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.00:1.00.

Consolidated Senior Secured Leverage Ratio. Permit at any time the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 2.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of on the end last day of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of at any fiscal quarter of the Borrower prior to the Investment Grade Date time to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 2.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.004.0:1.0.

Consolidated Senior Secured Leverage Ratio. Permit The Loan Parties shall not permit the Consolidated Senior Secured Leverage Ratio Ratio, as of the end last day of any fiscal quarter Fiscal Quarter ending on or after the Closing Date, and calculated for the period of the Borrower prior to the Investment Grade Date four consecutive Fiscal Quarters ending on such date, to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end last day of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.004.0:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.0:1.0.

Consolidated Senior Secured Leverage Ratio. Permit The Borrower will not permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior to the Investment Grade Date exceed 3.00 to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.1.0. 509265-1574-14872-Active.18681323.8

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as at any time during any period of the end of any four fiscal quarter quarters of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.00:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to ending after the Investment Grade Amendment No. 2 Effective Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.25:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of on the end last day of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.00:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of at any fiscal quarter of the Borrower prior to the Investment Grade Date time during any period set forth below to be greater than (i) except during a Specified Acquisition Periodthe ratio set forth below opposite such period: Four Fiscal Quarters Ending Maximum During any Period Below Senior Secured Leverage Ratio Closing Date through October 27, 3.75 to 1.00 2009 2.30:1.00 October 28, 2009 through October 27, 2010 2.00:1.00 October 28, 2010 through October 27, 2012 1.75:1.00 October 28, 2012 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.thereafter 1.50:1.00

Consolidated Senior Secured Leverage Ratio. Permit Permit, as of the last day of any Reference Quarter, the Consolidated Senior Secured Leverage Ratio as of the end last day of any the period of four consecutive fiscal quarter quarters of the Borrower prior ending on such Reference Quarter to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 exceed 2.75 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date PRA to be greater than (i) except during a Specified Acquisition Period, 3.75 2.25 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as at any time during any period of the end four fiscal quarters of any fiscal quarter of the Borrower prior to the Investment Grade Date Holdings to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.004.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Borrower, commencing with the Investment Grade Date fiscal quarter ending December 31, 2010, to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.0:1.0.

Consolidated Senior Secured Leverage Ratio. Permit Maintain, as of the end of each Measurement Period, a Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater not more than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.3.00:1.00; and

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date Company to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 2.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit The Borrower will not permit the Consolidated Senior Secured Leverage Ratio Ratio, as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior which period ends on or after the Trigger Date, to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 exceed 3.50 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date Borrower, commencing with fiscal quarter ending April 24, 2010, to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.50:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end last day of any fiscal quarter of the Borrower prior TWTC to the Investment Grade Date exceed 3.50 to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end last day of any fiscal quarter of the Borrower prior Test Period to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to exceed 3.75: 1.00.

Consolidated Senior Secured Leverage Ratio. Permit During any period that is not an Investment Grade Period only, commencing with the Measurement Period ending on the last day of the fiscal quarter in which a Financial Covenant Election is made, and as of the end of any Measurement Period thereafter, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the end of U.S. Borrower ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Consolidated Senior Secured Leverage Ratio Q2, Q3 and Q4 of the Borrower prior ‘04 2.25 to the Investment Grade Date 1 Q1 of ‘05 and thereafter 2.00 to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.1

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of Holdings (commencing with the Borrower prior to the Investment Grade Date fiscal quarter ending July 31, 2024) to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit The Borrower will not permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior to the Investment Grade Date exceed 2.75 to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.001.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Parent during the Investment Grade Date applicable period to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.25:1.00.

Consolidated Senior Secured Leverage Ratio. Permit at any time the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 1.25 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any period of four consecutive fiscal quarter quarters of the Borrower prior commencing with the fiscal quarter ending December 31, 2004 to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00exceed 2.25:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.0:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date specified below to be greater than (i) except during a Specified Acquisition Periodthe ratio set forth in the table below corresponding to such fiscal quarter. Fiscal Quarter End Maximum Consolidated Senior Secured Leverage Ratio December 31, 3.75 to 1.00 2019 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.each fiscal quarter ending thereafter 2.00:1.00

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to ending after the Investment Grade Closing Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.25:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Borrower, commencing with the Investment Grade Date fiscal quarter ending September 30, 2009, to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.002.00:1.0.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.003.50:1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to Borrower, beginning with the Investment Grade Date fiscal quarter ending December 31, 2010, to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 2.00 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit There shall be maintained, as of the end of each fiscal quarter, a Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be no greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 1.25 to 1.00.

Consolidated Senior Secured Leverage Ratio. Permit the Consolidated Senior Secured Leverage Ratio as of at the end last day of any fiscal quarter period of four consecutive Fiscal Quarters of the Borrower prior to ending after the Investment Grade Closing Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.004.5x.