Financial CovenantCovenants. (a) (i) Total Leverage Ratio. Commencing with the Fiscal Quarter ending June 30March 31, 20162018, on the last day of any Test Period the Borrowers shall not permit the Total Leverage Ratio to be greater than the ratio set forth below opposite the last day of such Test Period: June 30, 2016 5.90:1.00 September 30, 2016 5.90:1.00 December 31, 2016 5.90:1.00 March 31, 2017 5.90:1.00 June 30, 2017 5.50:1.00 September 30, 2017 5.50:1.00 December 31, 2017 5.50:1.00 March 31, 2018 5.504.75:1.00 June 30, 2018 5.504.75:1.00 September 30, 2018 5.504.75:1.00 December 31, 2018 5.004.75:1.00 March 31, 2019 4.75:1.00 June 30, 2019 4.504.75:1.00 September 30, 2019 4.24.75:1.00 December 31, 2019 4.004.75:1.00 March 31, 2020 and thereafter 4.04.50:1.00
Financial CovenantCovenants. (a) From and after July 31, 2024 until and including February 28, 2025, as of the last day of each calendar month, the Borrower shall not permit Liquidity to be less than $5,000,000 (the “Minimum Liquidity”).
(b) As of the end of each fiscal quarter of the Borrower (commencing with the first full fiscal quarter ending after the Closing Date), test period ending March 31, 2025), shall not permit the First Lien Net Leverage Ratio as ofat the end of such fiscal quarter of the Borrower to be greater than 7.00 to 1.00 (theany Fiscal Quarter in the table set forth below to exceed the corresponding maximum ratio set forth in the column opposite such Fiscal Quarter in the table below (the “Leverage Covenant”, together with Minimum Liquidity, the “Financial Covenants” and each a “Financial Covenant”).:
Financial CovenantCovenants. The(a) (i) With respect to the fiscal quarters ending March 31, 2022, June 30, 2022 and September 30, 2022, the Issuer shall not permit the aggregate amount of unrestricted cash and Cash Equivalents of (xA) the Note Parties that is subject to a Deposit Account Control Agreement and (yB) Subsidiaries that are not Note Parties (commencing with the first fiscal quarter ending after the Combination Closing Date)provided that the amount of unrestricted cash and Cash Equivalents taken into account for purposes of clause (B) shall not exceed $5,000,000), to be less than, as of the last date of each such fiscal quarter, the greater of (a) $20,000,000 and (b) an amount equal to 15% of the total Funded Indebtedness of .
(ii) With respect to the fiscal quarter ending December 31, 2022, the Issuer shall not permit the aggregate amount of unrestricted cash and Cash Equivalents of (A) the Note Parties that is subject to a Deposit Account Control Agreement and (B) Subsidiaries that are not Note Parties (provided that the amount of unrestricted cash and Cash Equivalents taken into account for purposes of clause (B) shall not exceed $5,000,000), to be less than, as of the last date of each such fiscal quarter, $10,000,000.
Financial CovenantCovenants. (a) During the continuance of a Covenant Compliance Event, each of Holdings and the Borrowers will not permit the Fixed Charge Ratio as of the last day of any fiscal month of Holdings to be less than 1.0 to 1.0.1.0 and (b) each of Holdings and the Borrowers will not permit the Receivables Coverage Ratio as of the last day of any fiscal month to be less than 1.1 to 1.0.
Financial CovenantCovenants. Holdings and the Borrower will not permit the Total Net Leverage Ratio for any Test Period (commencing with the first fiscal quarter ending on December 29, 2018) set forth belowafter the last date of the Minimum Liquidity Period) to be greater than 8.75 to 1.00.
Financial CovenantCovenants. In the case of Parent, permit the
Financial CovenantCovenants. (a) Permit the Capitalization Ratio as of the end of any fiscal quarter of the Borrower, beginning with the fiscal quarter ending June 30March 31, 20192020, to be greater than 5057.5%.
Financial CovenantCovenants. (a) Commencing with the Test Period ending on the last day of the second full fiscal quarter ended after the First Amendment Effective Date, if on the last day of any Test Period the aggregate outstanding principal amount of Revolving Loans and Letters of Credit (but excluding (i) undrawn amounts under any Letters of Credit in an aggregate face amount of up to $20,000,000 and (ii) Letters of Credit that have been Cash Collateralized) exceeds (or exceeded) 35.00% of the then outstanding Revolving Commitments in effect on such date (the “Testing Threshold”), the Borrower shall not permit as of the last day of any Test Period the consolidated revenue (calculated in accordance with GAAP, the “GAAP Revenue”) of the Borrower and its Restricted Subsidiaries for the Test Period ended on such day to be less than 60.070.0% of the projected revenue set forth in Schedule 6.09(a)(i) for such period; provided that such projected revenues may be subject to pro forma adjustments satisfactory to the Administrative Agent (in its reasonable discretion) for permitted sales of Transition Markets. To the extent required to be tested with respect to any Test Period pursuant to the preceding sentence, compliance with this Section 6.09(a) shall be tested on the date that the Compliance Certificate for the applicable Test Period is required to be delivered pursuant to Section 5.01(d) and not prior to such date. (ai) (b) Commencing with the Test Period ending on the last day of the second full fiscal quarter ended after the First Amendment Effective Date, the borrower shall not permit Liquidity to be less than $15,000,000 as of the last day of any Test Period.
Financial CovenantCovenants. Each Credit Party covenants and agrees that until the Facility Termination Date:
Financial CovenantCovenants
