First Lien Senior Secured Leverage Ratio. Except with the written consent of the Required Revolving Credit Lenders, permit the First Lien Senior Secured Leverage Ratio as of the last day of any Test Period (commencing with the last day of the first full fiscal quarter of the Parent Borrower commencing after the Closing Date) to be greater than 6.50:1.00. Notwithstanding the foregoing, this Section 7.09 shall only be in effect as of the last day of any Test Period (commencing with the first full fiscal quarter of the Parent Borrower commencing after the Closing Date) when the sum of (i) Letters of Credit with an aggregate Outstanding Amount in excess of $50,000,000 (other than those Cash Collateralized in an amount equal to the Outstanding Amount thereof), (ii) the Outstanding Amount of Revolving Credit Loans and (iii) the Outstanding Amount of Swing Line Loans exceeds 30.0% of the Revolving Credit Commitments as of the last day of such Test Period.
First Lien Senior Secured Leverage Ratio. At any time at which there is Revolving Facility Credit Exposure, permit the First Lien Senior Secured Leverage Ratio, calculated as of the end of the most recent fiscal quarter ending on or about any date set forth in the table below for which financial statements have been delivered to the Administrative Agent pursuant to Section 5.04 and on the date of (and after giving effect to) each Credit Event (so long as there continues to be Revolving Credit Facility Exposure after giving effect to such Credit Event), to be greater than the ratio set forth opposite such date in the table below (or, in the case of a calculation as of the date of a Credit Event, opposite the then most recent such quarter end date for which financial statements have been delivered to the Administrative Agent pursuant to Section 5.04): Test Period Ending Date First Lien Senior Secured Leverage Ratio September 30, 2010 4.25 to 1.00 December 31, 2010 and thereafter 3.90 to 1.00 (which calculations (i) shall be made on a Pro Forma Basis to take into account any events described in the definition of “Pro Forma Basis” occurring during the period of four fiscal quarters ending on the last day of such fiscal quarter, and (ii) in the case of any such calculations as of the date of a Credit Event, shall not give effect, for purposes of calculating Consolidated First Lien Senior Secured Debt, to any net increase or decrease in Capital Lease Obligations that has occurred since such quarter end date (but for the avoidance of doubt shall give effect to the net increase or decrease in all other Consolidated First Lien Senior Secured Debt since such quarter end date)).
First Lien Senior Secured Leverage Ratio. At any time at which there is Revolving Facility Credit Exposure, permit the First Lien Senior Secured Leverage Ratio, calculated as of the last day of the most recent fiscal quarter for which financial statements have been delivered to the Administrative Agent pursuant to Section 5.04, to be greater than 3.90 to 1.00 (which calculation shall be made on a Pro Forma Basis to take into account any events described in the definition of “Pro Forma Basis” occurring during the period of four fiscal quarters ending on the last day of such fiscal quarter).
First Lien Senior Secured Leverage Ratio. Permit the First Lien Senior Secured Leverage Ratio as of the last day of any Test Period, beginning with the Test Period ending March 31, 2008, to be greater than 3.75:1.00.
First Lien Senior Secured Leverage Ratio. Except with the written consent of the Required Revolving Credit Lenders, permit the First Lien Senior Secured Leverage Ratio for any Test Period set forth below to be greater than the ratio set forth opposite such Test Period below: Test Period Ended First Lien Senior Secured Leverage Ratio September 30, 2011 5.85:1.00 December 31, 2011 5.60:1.00 March 31, 2012 5.50:1.00 June 30, 2012 5.00:1.00 September 30, 2012 5.00:1.00 December 31, 2012 5.00:1.00 March 31, 2013 4.50:1.00 June 30, 2013 4.50:1.00 September 30, 2013 4.00:1.00 December 31, 2013 4.00:1.00 March 31, 2014 3.75:1.00 June 30, 2014 3.50:1.00 September 30, 2014 3.50:1.00 December 31, 2014 3.50:1.00 March 31, 2015 and thereafter 3.25:1.00 Notwithstanding the foregoing, this Section 7.10 shall be in effect (and shall only be in effect) when any Swing Line Loans, Letters of Credit (other than those Cash Collateralized in an amount equal to the Outstanding Amount thereof) and/or Revolving Credit Loans are outstanding (it being understood that in all cases calculation of compliance with this Section 7.10 shall be determined as of the last day of each Test Period).
First Lien Senior Secured Leverage Ratio. The Borrower will not permit the First Lien Senior Secured Leverage Ratio, in each case determined on a Pro Forma Basis to exceed 1.50 to 1.0. ARTICLE 7
First Lien Senior Secured Leverage Ratio. The Borrower will not permit the First Lien Senior Secured Ratio on the last day of any fiscal quarter of the Borrower to be greater than 2.00:1.00.
First Lien Senior Secured Leverage Ratio. (a) Except with the written consent of the Required Pro Rata Lenders, permit the First Lien Senior Secured Leverage Ratio as of any Compliance Date to be greater than 6.50:1.00.
First Lien Senior Secured Leverage Ratio. Except with the written consent of the Required Revolving Credit Lenders, permit the First Lien Senior Secured Leverage Ratio as of the last day of any Test Period set forth below to be greater than the ratio set forth opposite such Test Period below: Test Period Ended First Lien Senior Secured Leverage Ratio the last day of the first full fiscal quarter through the last day of the fourth full fiscal quarter, in each case, ending after the Closing Date 4.75:1.00 the last day of the fifth full fiscal quarter through the last day of the sixth full fiscal quarter, in each case, ending after the Closing Date 4.50:1.00 the last day of the seventh full fiscal quarter through the last day of the eighth full fiscal quarter, in each case, ending after the Closing Date 4.25:1.00 the last day of the ninth full fiscal quarter through the last day of the tenth full fiscal quarter, in each case, ending after the Closing Date 4.00:1.00 the last day of the eleventh full fiscal quarter ending after the Closing Date 3.75:1.00 the last day of the twelfth full fiscal quarter through the last day of the thirteenth full fiscal quarter, in each case, ending after the Closing Date 3.50:1.00 Test Period Ended First Lien Senior Secured Leverage Ratio the last day of the fourteenth full fiscal quarter through the last day of the fifteenth full fiscal quarter, in each case, ending after the Closing Date 3.25:1.00 the last day of the sixteenth full fiscal quarter through the last day of the seventeenth full fiscal quarter, in each case, ending after the Closing Date 3.00:1.00 the last day of the eighteenth full fiscal quarter through the last day of the nineteenth full fiscal quarter, in each case, ending after the Closing Date 2.75:1.00 thereafter 2.50:1.00 Notwithstanding the foregoing, this Section 7.09 shall be in effect (and shall only be in effect) as of the last day of any Test Period set forth above when (i) Letters of Credit with an aggregate Outstanding Amount in excess of $50,000,000 (other than those Cash Collateralized in an amount equal to the Outstanding Amount thereof), (ii) any Revolving Credit Loans or (iii) any Swing Line Loans, in each case, are outstanding as of the last day of such Test Period.
