Common use of Consolidated Total Net Leverage Ratio Clause in Contracts

Consolidated Total Net Leverage Ratio. Commencing with the last day of the first full fiscal quarter of New Holdings following the Amendment No.1 Effective Date, permit the Consolidated Total Net Leverage Ratio on the last day of any fiscal quarter occurring during any period set forth below, to be greater than the ratio set forth below opposite such period: Initial Draw Date through and including March 31, 2015 6.00:1.00 June 30, 2015 through and including September 30, 2015 5.75:1.00 December 31, 2015 5.50:1.00 March 31, 2016 5.25:1.00 June 30, 2016 and thereafter 5.00:1.00

Appears in 2 contracts

Samples: Incremental Facility Amendment (Media General Inc), Credit Agreement (Media General Inc)

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Consolidated Total Net Leverage Ratio. Commencing with As of the last day of the first full any fiscal quarter of New Holdings following ending during the Amendment No.1 Effective Dateperiods specified below, permit the Consolidated Total Net Leverage Ratio on the last day of any fiscal quarter occurring during any period set forth below, to be greater than the corresponding ratio set forth below opposite such periodbelow: Initial Draw Closing Date through and including March 31, 2015 6.00:1.00 June 30, 2015 2017 3.50 to 1.00 July 1, 2017 through and including June 30, 2018 4.25 to 1.00 July 1, 2018 through September 30, 2015 5.75:1.00 2018 3.75 to 1.00 October 1, 2018 through December 31, 2015 5.50:1.00 March 312018 3.50 to 1.00 January 1, 2016 5.25:1.00 June 30, 2016 2019 and thereafter 5.00:1.003.25 to 1.00

Appears in 1 contract

Samples: Credit Agreement (Mitel Networks Corp)

Consolidated Total Net Leverage Ratio. Commencing with the last day of the first full fiscal quarter of New Holdings following ending after the Amendment No.1 Restatement Effective Date, permit the Consolidated Total Net Leverage Ratio on the last day of any the fiscal quarter occurring during any period set forth below, below to be greater than the ratio set forth below opposite such perioddate: Initial Draw Date through and including December 31, 2019 4.75:1.00 March 31, 2015 6.00:1.00 2020 4.75:1.00 June 30, 2015 through and including 2020 4.75:1.00 September 30, 2015 5.75:1.00 2020 4.75:1.00 December 31, 2015 5.50:1.00 2020 4.75:1.00 March 31, 2016 5.25:1.00 June 30, 2016 2021 and the last day of each fiscal quarter ending thereafter 5.00:1.004.50:1.00

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Compass Minerals International Inc)

Consolidated Total Net Leverage Ratio. Commencing with the last day of the first full fiscal quarter of New Holdings the Borrower following the Amendment No.1 Effective Signing Date, permit the Consolidated Total Net Leverage Ratio on the last day of any fiscal quarter occurring during any period set forth below, to be greater than the ratio set forth below opposite such period: Initial Draw Date through and including March 31, 2015 6.00:1.00 5.50:1.00 June 30, 2015 through and including September 30, 2015 5.75:1.00 5.25:1.00 December 31, 2015 5.50:1.00 March 31, 2016 5.25:1.00 June 30, 2016 and thereafter 5.00:1.00

Appears in 1 contract

Samples: Credit Agreement (Media General Inc)

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Consolidated Total Net Leverage Ratio. Commencing with As of the last day of the first full any fiscal quarter of New Holdings following ending during the Amendment No.1 Effective Dateperiods specified below, permit the Consolidated Total Net Leverage Ratio on the last day of any fiscal quarter occurring during any period set forth below, to be greater than the corresponding ratio set forth below opposite such periodbelow: Initial Draw Closing Date through and including March 31, 2015 6.00:1.00 June 30, 2015 through and including September 302018 3.50 to 1.00 July 1, 2015 5.75:1.00 December 31, 2015 5.50:1.00 March 31, 2016 5.25:1.00 June 30, 2016 2018 and thereafter 5.00:1.003.25 to 1.00 ; provided that, following the date on which a Material Acquisition is consummated, the Consolidated Total Net Leverage Ratio level at the end of each of the four (4) fiscal quarters following such date shall be increased to 3.75 to 1.00.

Appears in 1 contract

Samples: Credit Agreement (Mitel Networks Corp)

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