Maximum First Lien Leverage Ratio. Permit the First-Lien Leverage Ratio, as of the last day of any Test Period, to exceed 2.50 to 1.00.
Maximum First Lien Leverage Ratio. Without the prior written consent of the Required Revolving Lenders, permit the First Lien Leverage Ratio, as calculated on a Pro Forma Basis, as of the last day of any fiscal quarter (but only if (other than as set forth in Section 4.02(d)) on the last day of such fiscal quarter the Total Revolving Credit Outstandings (exclusive of (x) all Cash Collateralized L/C Obligations and (y) the aggregate amount available to be drawn under all Letters of Credit that have not been Cash Collateralized in an amount not exceeding 50% of the Revolving Credit Facility) is in excess of the Covenant Trigger Amount), to be greater than 5.55:1.00.
Maximum First Lien Leverage Ratio. During each Covenant Compliance Period, not permit (i) the First Lien Leverage Ratio for the last Test Period ended prior to the beginning of such Covenant Compliance Period for which financial statements are available to be greater than 5.00:1.00, (ii) the First Lien Leverage Ratio for any Test Period for which financial statements first become available during such Covenant Compliance Period to be greater than 5.00:1.00 and (iii) the First Lien Leverage Ratio for any Test Period ending during such Covenant Compliance Period to be greater than 5.00:1.00.
Maximum First Lien Leverage Ratio. Solely with respect to the Revolving Credit Facility, commencing with the Fiscal Quarter ending March 31, 2019, on the last day of any Fiscal Quarter on which the Revolving Facility Test Condition is then applicable, the Borrower shall not permit the First Lien Leverage Ratio for the Test Period ending on such last day to be greater than 7.25:1.00.
Maximum First Lien Leverage Ratio. LiventArcadium shall maintain on the last day of each such Fiscal Quarter a First Lien Leverage Ratio of not more than a ratio of 3.50 to 1.00.
Maximum First Lien Leverage Ratio. The ratio of (i) the First Lien Indebtedness of OTG, and the Parent and its Subsidiaries to (ii) Consolidated EBITDA of OTG, and the Parent and its Subsidiaries for the twelve-month period ending September 30, 2012 (calculated on a pro forma basis after giving effect to the making of the Loans on the Effective Date) shall not be greater than 4.00:1.00.
Maximum First Lien Leverage Ratio. Permit the First Lien Leverage Ratio on the last day of any fiscal quarter set forth below to be greater than the ratio set forth opposite such fiscal quarter below:
Maximum First Lien Leverage Ratio. The Loan Parties will not, as of the last day of any fiscal quarter for which financial statements have been provided pursuant to Section 8.01(a) or (b), permit the ratio of (i) the total Funded Debt included in the Credit Exposures as of such date to (ii) EBITDA of the Borrower and its Consolidated Restricted Subsidiaries for the four (4) quarter period ending on such date (or for such other period and subject to such other manner of calculation as is provided in the definition of EBITDA) to be greater than 2.25 to 1.00 (the “Maximum First Lien Leverage Ratio”; provided that to the extent that Second Lien Incremental Loans are borrowed under the Second Lien Credit Agreement, the Maximum First Lien Leverage Ratio shall be reduced as follows:
(i) on the first day that the aggregate outstanding principal balance of the Second Lien Debt equals or exceeds $200,000,000, the Maximum First Lien Leverage Ratio will become 2.0 to 1.0;
(ii) on the first day that the aggregate outstanding principal balance of the Second Lien Debt equals or exceeds $250,000,000, the Maximum First Lien Leverage Ratio will become 1.75 to 1.0;
(iii) on the first day that the aggregate outstanding principal balance of the Second Lien Debt equals or exceeds $300,000,000, the Maximum First Lien Leverage Ratio will become 1.5 to 1.0; and
(iv) on the first day of each additional increase in the aggregate outstanding principal balance of the Second Lien Debt by $50,000,000, the Maximum First Lien Leverage Ratio will be reduced by an additional .25.”
Maximum First Lien Leverage Ratio. Holdings and the Borrower will not permit the First Lien Leverage Ratio as of the last day of any Test Period ending on a date set forth below to be more than the ratio set forth opposite such date below: September 30, 2004 3.10:1.00 December 31, 2004 3.10:1.00 March 31, 2005 3.10:1.00 June 30, 2005 3.10:1.00 September 30, 2005 2.95:1.00 December 31, 2005 2.95:1.00 March 31, 2006 2.85:1.00 June 30, 2006 2.85:1.00 September 30, 2006 2.70:1.00 December 31, 2006 2.70:1.00 March 31, 2007 2.45:1.00 June 30, 2007 2.45:1.00 September 30, 2007 2.45:1.00 December 31, 2007 2.45:1.00 March 31, 2008 2.20:1.00 June 30, 2008 2.20:1.00 September 30, 2008 1.90:1.00 Thereafter 1.90:1.00 Notwithstanding anything to the contrary contained in this Agreement, all calculations of compliance with this Section 9.08 shall be made on a Pro Forma Basis.
Maximum First Lien Leverage Ratio. Permit the First Lien Leverage Ratio, determined as of the last day of any fiscal quarter of Borrower (measured on a rolling four quarter basis for the trailing four fiscal quarters) to be greater than the correlative ratio indicated in the table set forth on Schedule 7.12(a).
