Maximum Senior Leverage. (i) The Borrower and its consolidated Subsidiaries shall not permit the ratio (the “Senior Leverage Ratio”) of (i) the aggregate unpaid principal amount of Senior Debt as of last day of any Fiscal Quarter ending during the periods described below to (ii) Adjusted Consolidated EBITDA for the four (4) consecutive Fiscal Quarter period ending as of such date, to exceed the corresponding ratio set forth below opposite such period: Period Ratio January 1, 2006 through and including December 31, 2006 2.00 to 1.00 January 1, 2007 through and including December 31, 2007 1.75 to 1.00 January 1, 2008 through and including December 31, 2008 1.50 to 1.00 January 1, 2009 through and thereafter 1.25 to 1.00
Maximum Senior Leverage. The Company will not permit the Senior Leverage Ratio (as defined in the Credit Agreement) as of any date set forth below to exceed the ratio set forth opposite such date: Date Ratio December 31, 2005 3.00 to 1.00 March 31, 2006 3.00 to 1.00 June 30, 2006 3.00 to 1.00 September 30, 2006 2.75 to 1.00 December 31, 2006 2.75 to 1.00 March 31, 2007 2.75 to 1.00 June 30, 2007 2.50 to 1.00 September 30, 2007 2.25 to 1.00 December 31, 2007 2.25 to 1.00 March 31, 2008 2.00 to 1.00 June 30, 2008 2.00 to 1.00 September 30, 2008 1.75 to 1.00 December 31, 2008 1.75 to 1.00 March 31, 2009 1.75 to 1.00 June 30, 2009 1.75 to 1.00 September 30, 2009 1.75 to 1.00 December 31, 2009 1.75 to 1.00 March 31, 2010 1.75 to 1.00 June 30, 2010 1.75 to 1.00 September 30, 2010 1.75 to 1.00 December 31, 2010 1.75 to 1.00 March 31, 2011 1.75 to 1.00 June 30, 2011 1.75 to 1.00
Maximum Senior Leverage. At any time during the periods indicated below, Borrower shall not permit the ratio (expressed as a percentage) of Senior Funded Debt to Total Book Capitalization to be greater than the percentages set forth below: Period Percentage From December 31, 2005 to December 31, 2006 60 % From December 31, 2006 to September 30, 2007 50 % From September 30, 2007 40 % 70
Maximum Senior Leverage. The Company hereby certifies and warrants to you that the following is a true and correct computation of the Total Leverage requirement set forth in Section 11.16 of the Credit Agreement, which is not less greater than 3.00 to 1.00:
Maximum Senior Leverage. The Loan Parties shall not, when evaluated on a consolidated basis amongst all Loan Parties collectively, suffer or permit the Senior Leverage Ratio for the Fiscal Quarter ending April 30, 2021 and for the last day of each subsequent Fiscal Quarter thereafter to exceed the amount set forth opposite such day: Fiscal Quarter Ending: Senior Leverage Ratio: April 30, 2021 5.08 to 1.00 July 31, 2021 4.44 to 1.00 October 31, 2021 4.30 to 1.00 January 31, 2022 4.06 to 1.00 April 30, 2022 4.05 to 1.00 July 31, 2022 4.06 to 1.00 October 31, 2022 4.05 to 1.00 January 31, 2023 *** to 1.00 April 30, 2023 *** to 1.00 July 31, 2023 *** to 1.00 October 31, 2023 *** to 1.00 January 31, 2024 *** to 1.00 April 30, 2024 *** to 1.00 July 31, 2024 *** to 1.00 October 31, 2024, and for each Fiscal *** to 1.00 Quarter thereafter
Maximum Senior Leverage. The Borrower and its consolidated Subsidiaries shall not permit the ratio of (i) the aggregate unpaid principal amount of Senior Debt as of last day of any Fiscal Quarter ending during the periods described below to (ii) EBITDA for the four (4) consecutive Fiscal Quarter period ending as of such date, to exceed the corresponding ratio set forth below opposite such period: Period Ratio ------ ----- Closing Date through and including December 31, 2001 2.00 to 1.00 January 1, 2002 through and including December 31, 2002 1.75 to 1.00 January 1, 2003 and thereafter 1.50 to 1.00
Maximum Senior Leverage. The Borrowers, on a consolidated basis, ----------------------- shall maintain at all times a ratio of Senior Liabilities to EBITDA, measured as of the end of each fiscal quarter for the prior four consecutive fiscal quarters then completed of the Borrowers, of not more than 3.5:1 declining to 3.25:1 as of December 31, 2001 and for all periods thereafter.
Maximum Senior Leverage. Senior Leverage Ratio, measured on a quarter-end basis, of not more than the maximum ratio set forth in the following table for the applicable measurement dates set forth opposite thereto: Applicable Senior Leverage Ratio Applicable Measurement Date 21.00:1.00 March 31, 2005, and each fiscal quarter end thereafter up to and including June 30, 2006 11.00:1.00 September 30, 2006 3.75:1.00 December 31, 2006 1.75:1.00 March 31, 2007 1.25:1.00 June 30, 2007 and each fiscal quarter end thereafter”
Maximum Senior Leverage. The Borrower shall not permit the ratio (the "Senior Leverage Ratio") of (i) the Obligations to (ii) EBITDA to be greater than the ratio set forth below at the end of the fiscal quarter ending on the corresponding date set forth below: Quarter Ending Ratio -------------- --------- March 31, 2001 3.25 to 1.00 June 30, 2001 3.25 to 1.00 September 30, 2001 3.25 to 1.00 December 31, 2001 3.00 to 1.00 March 31, 2002 3.00 to 1.00 June 30, 2002 3.00 to 1.00 September 30, 2002 3.00 to 1.00 December 31, 2002 2.75 to 1.00 March 31, 2003 2.75 to 1.00 June 30, 2003 2.75 to 1.00 September 30, 2003 2.75 to 1.00 December 31, 2003 2.50 to 1.00 March 31, 2004 2.50 to 1.00 June 30, 2004 2.50 to 1.00 September 30, 2004 2.50 to 1.00 December 31, 2004 2.25 to 1.00 and Each Quarter Thereafter The Senior Leverage Ratio shall be calculated, in each case, determined as of the last day of each fiscal quarter based upon (a) Obligations as of the last day of each such fiscal quarter; and (b) for EBITDA, the actual amount for the four-quarter period ending on such day, calculated, with respect to Permitted Acquisitions, on a pro forma basis using historical financial statements obtained from the Seller (with EBITDA adjusted solely to add back (i) identifiable expenses which will be reduced or eliminated subsequent to the applicable Permitted Acquisition (including, but not limited to, the effect of margin improvements) and (ii) transaction expenses arising from or in connection with the applicable Permitted Acquisition, broken down by fiscal quarter in the Borrower's reasonable judgment.
Maximum Senior Leverage. Senior Leverage Ratio, measured on a quarter-end basis, of not more than the maximum ratio set forth in the following table for the applicable measurement dates set forth opposite thereto: Applicable Senior Leverage Ratio Applicable Measurement Date
