Maximum Consolidated Net Leverage Ratio. The Company shall not permit the Consolidated Net Leverage Ratio as of the last day of the most recently ended applicable period ending on the dates set forth below to exceed the correlative ratio indicated for such period (or period including such Fiscal Quarter or twelve month period): Twelve Month Period ending 11/30/18 3.75 to 1.0 Four Fiscal Quarter Period Ending 12/31/18 3.75 to 1.0 Four Fiscal Quarter Period Ending 3/31/19 2.75 to 1.0 Four Fiscal Quarter Period Ending 6/30/19 2.50 to 1.0 Four Fiscal Quarter Period Ending 9/30/19 3.50 to 1.0
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Maximum Consolidated Net Leverage Ratio. The Company shall not permit the Consolidated Net Leverage Ratio as of the last day of the most recently ended applicable period Fiscal Quarter ending on the dates set forth below to exceed the correlative ratio indicated for such period Fiscal Quarter (or period including such Fiscal Quarter or twelve month periodQuarter): Twelve Month Period ending 11/30/18 2018 N/A 6.25 to 1.0 6.25 to 1.0 3.75 to 1.0 Four Fiscal Quarter Period Ending 12/31/18 3.75 to 1.0 Four Fiscal Quarter Period Ending 3/31/19 2019 2.75 to 1.0 Four Fiscal Quarter Period Ending 6/30/19 2.50 to 1.0 Four Fiscal Quarter Period Ending 9/30/19 3.50 to 1.01.0 N/A
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Maximum Consolidated Net Leverage Ratio. The Company shall not permit the Consolidated Net Leverage Ratio as of the last day of the most recently ended applicable period ending on the dates set forth below to exceed the correlative ratio indicated for such period (or period including such Fiscal Quarter or twelve month period): Twelve Month Period ending Ending 11/30/18 3.75 7.50 to 1.0 Four Fiscal Quarter Period Ending 12/31/18 3.75 6.00 to 1.0 Four Fiscal Quarter Period Ending 3/31/19 2.75 3.90 to 1.0 Four Fiscal Quarter Period Ending 6/30/19 2.50 3.60 to 1.0 Four Fiscal Quarter Period Ending 9/30/19 3.50 4.00 to 1.01.0 ; it being understood that calculation of the Consolidated Net Leverage Ratio for the twelve-month period ending November 30, 2018 will be made excluding any impact or effect from the Company’s annual impairment testing.
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Maximum Consolidated Net Leverage Ratio. The Company shall not permit the Consolidated Net Leverage Ratio as of the last day of the most recently ended applicable period ending on the dates set forth below to exceed the correlative ratio indicated for such period (or period including such Fiscal Quarter or twelve month period): Twelve Month Period month period ending 11/30/18 3.75 10/31/18 6.25 to 1.0 Four Fiscal Quarter Period Ending 12/31/18 3.75 to 1.0 Four Fiscal Quarter Period Ending 3/31/19 2.75 to 1.0 Four Fiscal Quarter Period Ending 6/30/19 2.50 to 1.0 Four Fiscal Quarter Period Ending 9/30/19 3.50 to 1.0
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