Maximum Secured Net Leverage Ratio Clause Samples
Maximum Secured Net Leverage Ratio. The Company shall not permit the Secured Net Leverage Ratio as of the last day of any fiscal quarter of the Company to be greater than 4.00:1.00 (subject to the Collateral Release Adjustment and the Acquisition Step-Up).
Maximum Secured Net Leverage Ratio. The TopCo Borrower will not permit the Secured Net Leverage Ratio, determined as of the last day of any fiscal quarter of the TopCo Borrower to be greater than (i) in the case of the first fiscal quarter ending after the Closing Date and each fiscal quarter thereafter ending prior to December 31, 2026, 4.00 to 1.00 and (ii) in the case of each fiscal quarter ending after the Closing Date and on or after December 31, 2026, 3.75 to 1.00.
Maximum Secured Net Leverage Ratio. Permit the Secured Net Leverage Ratio as of the last day of any fiscal quarter ending during a period set forth below to be greater than the ratio set forth opposite such period below: Closing Date through June 30, 2017 4.50 to 1.00 July 1, 2017 through December 31, 2018 4.75 to 1.00 Thereafter 4.00 to 1.00
Maximum Secured Net Leverage Ratio. The Borrower will not permit the Secured Net Leverage Ratio, determined as of the last day of any fiscal quarter of the Borrower ended after the Effective Date to be greater than 3.50 to 1.00; provided that during a Covenant Holiday Period, the foregoing threshold shall be increased to 4.00 to 1.00.
Maximum Secured Net Leverage Ratio. The TopCo Borrower will not permit the Secured Net Leverage Ratio, determined as of the last day of any fiscal quarter of the TopCo Borrower to be greater than (i) in the case of the first fiscal quarter ending after the Closing Date and each fiscal quarter thereafter ending prior to December 31, 2026, 4.25 to 1.00, (ii) in the case of the fiscal quarters ending on December 31, 2026 and March 31, 2027, 4.00 to 1.00 and (iii) in the case of each fiscal quarter ending on or after June 30, 2027, 3.75 to 1.00; provided that during a Covenant Holiday Period, the foregoing thresholds shall be increased to (x) in the case of the first fiscal quarter ending after the Closing Date and each fiscal quarter thereafter ending prior to June 30, 2027, 4.50 to 1.00 and (y) in the case of each fiscal quarter ending on or after June 30, 2027, 4.25 to 1.00.
Maximum Secured Net Leverage Ratio. Permit the Secured Net Leverage Ratio to be greater than the ratio set forth opposite such period below: Period Ratio Closing Date through June 30, 2017 4.50 to 1.00 July 1, 2017 through June 30, 2018 4.25 to 1.00 July 1, 2018 and thereafter 4.00 to 1.00
Maximum Secured Net Leverage Ratio. Permit the Secured Net Leverage Ratio as of the last day of any fiscal quarter ending during a period set forth below to be greater than the ratio set forth opposite such period below: Period Ratio December 31, 2013 through December 31, 2015 4.50 to 1.00 January 1, 2016 through December 31, 2016 4.25 to 1.00 Thereafter 4.00 to 1.00 The provisions of this Section 6.13 are solely for the benefit of the Revolving Credit Lenders, the 2019 Term A Lenders and any Lenders having Other Term A Loans and, notwithstanding the provisions of Section 9.08, the Required Covenant Lenders may (i) amend or otherwise modify Section 6.13 or, solely for purposes of Section 6.13, the defined terms used, directly or indirectly, therein, or (ii) waive any non-compliance with Section 6.13 or any Event of Default resulting from such non-compliance, in each case without the consent of any other Lenders.