Maximum Total Leverage. As of the last day of a Fiscal Quarter, permit the Leverage Ratio of Ultimate Parent and its Subsidiaries to be greater than the ratio set forth opposite such date: Each Fiscal Quarter Ending Ratio March 31, 2017 4.75:1.00 June 30, 2017 5.40:1.00 September 30, 2017 5.60:1.00 December 31, 2017 5.45:1.00 March 31, 2018 5.30:1.00 June 30, 2018 4.65:1.00 September 30, 2018 4.55:1.00 December 31, 2018 4.45:1.00 March 31, 2019 4.40:1.00 June 30, 2019 3.85:1.00 September 30, 2019 3.80:1.00 December 31, 2019 through and including March 31, 2020 3.75:1.00 June 30, 2020 through and including March 31, 2021 3.25:1.00 June 30, 2021 and each Fiscal Quarter ending thereafter 3.00:1.00
Maximum Total Leverage. (i) The Borrower and its consolidated Subsidiaries shall not permit the ratio (the “Total Leverage Ratio”) of (i) the aggregate unpaid principal amount of Total Funded Debt as of the 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 Closing Date through and including September 30, 2006 5.60 to 1.00 October 1, 2006 through and including December 31, 2006 5.00 to 1.00 January 1, 2007 through and including December 31, 2007 4.75 to 1.00 January 1, 2008 through and including December 31, 2008 4.50 to 1.00 January 1, 2009 through and including December 31, 2009 4.00 to 1.00 January 1, 2010 and thereafter 3.50 to 1.00
Maximum Total Leverage. At any time during the periods indicated below, Borrower shall not permit the ratio (expressed as a percentage) of Total 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 80 % From December 31, 2006 to September 30, 2007 70 % From September 30, 2007 60 %
Maximum Total Leverage. The Borrower and its consolidated Subsidiaries shall not permit the ratio (the “Total Leverage Ratio”) of (i) the aggregate unpaid principal amount of Total Funded Debt as of the 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 December 31, 2003 through and including December 31, 2004 5.75 to 1.00 January 1, 2005 through and including December 31, 2005 5.50 to 1.00 January 1, 2006 through and including December 31, 2006 5.00 to 1.00 January 1, 2007 through and including December 31, 2007 4.75 to 1.00 January 1, 2008 through and including December 31, 2008 4.50 to 1.00 January 1, 2009 through and including December 31, 2009 4.00 to 1.00 January 1, 2010 and thereafter 3.50 to 1.00
Maximum Total Leverage. The ratio of (i) Total Debt as of the last day of any month to (ii) EBITDA for such month multiplied by 12 to be greater than 10.0 to 1.0.
Maximum Total Leverage. A Total Leverage, measured on a trailing twelve (12) month basis and tested as of the last day of each quarter, of not more than 3.00 to 1.00.
Maximum Total Leverage. The Borrower shall not at any time permit the Funded Debt Ratio of the Borrower Affiliated Group as at the last day of any fiscal quarter in any fiscal period to be greater than (x) 3.25 to 1.00 at any time until December 31, 2004, and (y) 3.00 to 1.00 from December 31, 2004 and at any time thereafter.
Maximum Total Leverage. At all times the ratio of Total Indebtedness to Post Merger EBITDA of the Consolidated Parties for the immediately preceding four full fiscal quarters ("LTM Post Merger EBITDA") shall be equal to or less than the ratio set forth below for such fiscal quarter, provided that for any fiscal quarter after fiscal year 2001, such ratio shall be equal to or less than 4.50:1.00. For purposes of determining compliance with this Section 7.11(b)(i), (A) during the third quarter of 2000, LTM Post Merger EBITDA shall be calculated by multiplying Post Merger EBITDA for the third quarter of 2000 by four (4), (B) during the fourth quarter of 2000, LTM Post Merger EBITDA shall be calculated by multiplying (i) the sum of Post Merger EBITDA for the third quarter of 2000 plus Post Merger EBITDA for the fourth quarter of 2000 by (ii) two (2), and (C) during the first quarter of 2001, LTM Post Merger EBITDA shall be calculated by multiplying (i) the sum of Post Merger EBITDA for the third quarter of 2000 plus Post Merger EBITDA for the fourth quarter of 2000 plus Post Merger EBITDA for the first quarter of 2001 by (ii) four-thirds (4/3): Fiscal Quarter Ratio -------------- ----- ---------------------------------------- Q3 - 2000: 7.00:1.00 ---------------------------------------- Q4 - 2000: 6.50:1.00 ---------------------------------------- Q1 - 2001: 5.75:1.00 ---------------------------------------- Q2 - 2001: 5.25:1.00 ---------------------------------------- Q3 - 2001: 4.75:1.00 ---------------------------------------- Q4 - 2001: 4.50:1.00 ----------------------------------------
Maximum Total Leverage. At all times the ratio of Total Indebtedness to Post Merger EBITDA of the Consolidated Parties for the immediately preceding four full fiscal quarters ("LTM Post Merger EBITDA") shall be equal to or less than the ratio set forth below for such fiscal quarter. For purposes of determining compliance with this Section 6.15(b)(i), (A) during the third quarter of 2000, LTM Post Merger EBITDA shall be calculated by multiplying Post Merger EBITDA for the third quarter of 2000 by four (4), (B) during the fourth quarter of 2000, LTM Post Merger EBITDA shall be calculated by multiplying (i) the sum of Post Merger EBITDA for the third quarter of 2000 plus Post Merger EBITDA for the fourth quarter of 2000 by (ii) two (2), and (C) during the first quarter of 2001, LTM Post Merger EBITDA shall be calculated by multiplying (i) the sum of Post Merger EBITDA for the third quarter of 2000 plus Post Merger EBITDA for the fourth quarter of 2000 plus Post Merger EBITDA for the first quarter of 2001 by (ii) four-thirds (4/3):
Maximum Total Leverage. The pro forma balance sheet delivered pursuant to Section 3.01(l) and the income statement delivered pursuant to Section 3.01(x) shall demonstrate in form and substance reasonably satisfactory to Administrative Agent and the Requisite Lenders that on the Closing Date and immediately after giving effect to any Credit Extensions to be made on the Closing Date, including the payment of all Transaction Costs required to be paid in Cash by the Closing Date, the ratio of (i) Consolidated Total Debt for Holdings and its Restricted Subsidiaries as of the Closing Date, minus Consolidated Net Cash to (ii) pro forma Consolidated Adjusted EBITDA for the twelve-month period ending December 25, 2016 shall not be greater than 4.00:1.00.
