First Lien First Out Leverage Ratio. The Borrower will not permit the First Lien First Out Leverage Ratio as of the last day of each fiscal quarter of the Borrower to be greater than the ratio applicable to such fiscal quarter set forth below: Fiscal Quarter Ending First Lien First Out Leverage Ratio September 30, 2017 through December 31, 2019 1.90 to 1.00 Thereafter 1.50 to 1.00
Appears in 4 contracts
Samples: Credit Agreement (California Resources Corp), Collateral Agency Agreement, Collateral Agency Agreement (California Resources Corp)
