First Lien Leverage Ratio Clause Samples

First Lien Leverage Ratio. On the last day of any Test Period ending on or after the Amendment No. 8 Effective Date on which the Revolving Facility Test Condition is then satisfied, the Parent Borrower shall not permit the First Lien Leverage Ratio to be greater than 6.00:1.00.

First Lien Leverage Ratio. The Borrower will not permit its First Lien Leverage Ratio to be greater than 2.50 to 1.00 on the last day of the Fiscal Quarter ending March 31, 2022 and on the last day of each Fiscal Quarter thereafter.

First Lien Leverage Ratio. Permit the First Lien Leverage Ratio for any period of 4 consecutive fiscal quarters of Holdings and its Subsidiaries for which the last fiscal month ends on a date set forth below to be greater than the ratio set forth opposite such date:

First Lien Leverage Ratio. Except during a Suspension Period, the Borrower shall not permit its First Lien Leverage Ratio as of the last day of any fiscal quarter to exceed (a) for the period from the Restatement Effective Date to the second anniversary of the Restatement Effective Date, 4.50 to 1.00 and (b) thereafter, 4.25 to 1.00.

First Lien Leverage Ratio. The Borrower will not permit the First Lien Leverage Ratio as of the last day of any fiscal quarter ending on any date during any period set forth below to exceed the ratio set forth below opposite such period: Period Ratio Effective Date to and including June 30, 2013 4.75 to 1.00 July 1, 2013 and thereafter 4.50 to 1.00

First Lien Leverage Ratio. Permit the First Lien Leverage Ratio during any period set forth below to be greater than the ratio set forth opposite such period below: Fiscal Quarter Ended: Ratio June 30, 2006 4.75:1.00 September 30, 2006 4.75:1.00 December 31, 2006 4.75:1.00 March 31, 2007 4.75:1.00 Schedule 4, Negative Covenants Fiscal Quarter Ended: Ratio June 30, 2007 4.50:1.00 September 30, 2007 4.25:1.00 December 31, 2007 4.00:1.00 March 31, 2008 4.00:1.00 June 30, 2008 4.00:1.00 September 30, 2008 4.00:1.00 December 31, 2008 3.50:1.00 March 31, 2009 3.50:1.00 June 30, 2009 3.50:1.00 September 30, 2009 3.50:1.00 December 31, 2009 2.50:1.00 March 31, 2010 2.50:1.00 June 30, 2010 2.50:1.00 September 30, 2010 2.50:1.00 December 31, 2010 2.25:1.00 March 31, 2011 2.25:1.00 June 30, 2011 2.25:1.00 September 30, 2011 2.25:1.00 December 31, 2011 2.00:1.00 March 31, 2012 2.00:1.00 June 30, 2012 2.00:1.00 September 30, 2012 2.00:1.00 December 31, 2012 1.75:1.00 March 31, 2013 1.75:1.00 June 30, 2013 1.75:1.00 September 30, 2013 1.75:1.00 December 31, 2013 1.75:1.00

First Lien Leverage Ratio. Except with the written consent of the Required Revolving Credit Lenders, for any Test Period (commencing with the Test Period ending on or about September 30, 20218) that ends prior to the First Amendment Effective Date and on or after the Relief Period Termination Date, the Borrower will not permit the First Lien Leverage Ratio of the Borrower and its Restricted Subsidiaries on a consolidated basis as of the last day of such Test Period to exceed 4.25:1.00; provided that, commencing on the First Amendment Effective Date and until immediately prior to the Relief Period Termination Date, the Borrower will not permit the First Lien Leverage Ratio of the Borrower and its Restricted Subsidiaries on a consolidated basis as of the last day of the Test Period ending on each date set forth below to be greater than the corresponding First Lien Leverage Ratio set forth below: December 31, 2021 64.0705:1.00 March 31, 2022 54.275:1.00 ; provided, further, that (x): (i) for the purpose of calculating the First Lien Leverage Ratio for the Test Period ended March 31, 2021, Consolidated EBITDA shall be deemed to be the greater of (x) the sum of Consolidated EBITDA as calculated for, and allocated solely to, the most recently ended fiscal quarter of the Borrower for which financial statements have been or are required to be delivered pursuant to Section 6.01(a) or 6.01(b) multiplied by four and (y) the sum of Consolidated EBITDA as calculated for, and allocated solely to, the four most recently ended fiscal quarters of the Borrower for which financial statements have been or are required to be delivered pursuant to Section 6.01(a) or 6.01(b); (ii) for the purpose of calculating the First Lien Leverage Ratio for the Test Period ended June 30, 2021, Consolidated EBITDA shall be deemed to be the greater of (x) the sum of Consolidated EBITDA as calculated for, and allocated solely to, the two most recently ended fiscal quarters of the Borrower for which financial statements have been or are required to be delivered pursuant to Section 6.01(a) or 6.01(b) multiplied by two and (y) the sum of Consolidated EBITDA as calculated for, and allocated solely to, the four most recently ended fiscal quarters of the Borrower for which financial statements have been or are required to be delivered pursuant to Section 6.01(a) or 6.01(b); and (iii) for the purpose of calculating the First Lien Leverage Ratio for the Test Period ended September 30, 2021, Consolidated EBITDA shall be deemed to...

First Lien Leverage Ratio. On each Compliance Date, the Borrower shall not permit the First Lien Leverage Ratio as of such Compliance Date to be greater than 3.80:1.00.

First Lien Leverage Ratio. Except with the written consent of the Required Revolving Credit Lenders, the Borrower will not permit the First Lien Leverage Ratio of the Borrower and its Restricted Subsidiaries on a consolidated basis as of the last day of a Test Period (commencing with the Test Period ending on or about December 31, 2019 but excluding any Test Period ending during the Relief Period) to exceed (a) prior to the Step-Down Date, 7.60:1.00 and (b) from the Step-Down Date, 7.10:1.00 (this clause (a) being referred to herein as the “Financial Covenant”); provided that the provisions of this Section 7.09(a) shall not be applicable to any such Test Period if on the last day of such Test Period (x) to the extent the Total Leverage Ratio is greater than 6.50:1.00, the aggregate amount of Revolving Credit Loans, Swingline Loans and/or L/C Exposure (excluding up to $10,000,000 of undrawn Letters of Credit and other Letters of Credit which have been Cash Collateralized or Backstopped) does not exceed $0 or (y) to the extent the Total Leverage Ratio is equal to or less than 6.50:1.00, the aggregate amount of Revolving Credit Loans, Swingline Loans and/or L/C Exposure (excluding up to $10,000,000 of undrawn Letters of Credit and other Letters of Credit which have been Cash Collateralized or Backstopped) does not exceed 35% of the Aggregate Revolving Credit Commitments.