Common use of First Lien Leverage Ratio Clause in Contracts

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.

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 7.60:1.00, or, and (b) on and after the Test Period ending on June 30, 2021 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.

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 Period2019) to exceed (a) prior to the Step-Down Date7.60:1.00, 7.60:1.00 and or, (b) from on and after the Step-Down DateTest Period ending on June 30, 2021, 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) 7.09 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.

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.. 150