Common use of Pro Forma Compliance Clause in Contracts

Pro Forma Compliance. Where any provision of this Agreement requires, as a condition to the permissibility of an action to be taken by the Borrower or any of its Subsidiaries at any time prior to the delivery of financial statements for the fiscal quarter ending May 31, 2012, compliance on a Pro Forma Basis with Section 6.09, such provision shall mean that on a Pro Forma Basis, and after giving effect to such action, the Consolidated Interest Coverage Ratio shall be no less 2.50 to 1.0 and the Consolidated Net Leverage Ratio shall be no greater than 5.50 to 1.0.

Pro Forma Compliance. Where Notwithingstanding anything else contained in this Agreement, where any provision of this Agreement requires, as a condition to the permissibility of an action to be taken by the Borrower or any of its Restricted Subsidiaries at any time or for any period prior to the delivery of financial statements for the fiscal quarter ending May 31September 30, 20122011, compliance on a Pro Forma Basis with Section 6.09, such provision shall mean that on a Pro Forma Basis, and after giving effect to such action, the Consolidated Interest Coverage Ratio shall be no less 2.50 to 1.0 and the Consolidated Net Leverage Ratio shall be no greater than 5.50 7.00 to 1.0 and (ii) the Consolidated Secured Leverage Ratio shall be greater than 3.50 to 1.0.

Pro Forma Compliance. Where any provision of this Agreement requires, as a condition to the permissibility of an action to be taken by the Borrower Holdings or any of its Subsidiaries at any time prior to the delivery of financial statements for the fiscal quarter ending May 31September 30, 20122015, compliance on a Pro Forma Basis with Section 6.09, such provision shall mean that on a Pro Forma Basis, Basis (i) the Consolidated Leverage Ratio shall be no greater than 3.00:1.00 and after giving effect to such action, (ii) the Consolidated Interest Coverage Ratio shall be no less 2.50 to 1.0 and the Consolidated Net Leverage Ratio shall be no greater than 5.50 to 1.0at least 3.00:1.00.

Pro Forma Compliance. Where any provision of this Agreement requires, as a condition to the permissibility of an action to be taken by the Borrower Company or any of its Subsidiaries at any time prior to the delivery of financial statements for the first fiscal quarter ending May 31, 2012after the Restatement Effective Date, compliance on a Pro Forma Basis with Section 6.09, such provision shall mean that on a Pro Forma Basis, and after giving effect to such action, the Consolidated Interest Coverage Ratio shall be no less than 2.50 to 1.0 and the Consolidated Net Leverage Ratio shall be no greater than 5.50 5.75 to 1.0.

Pro Forma Compliance. Where any provision of this Agreement requires, as a condition to the permissibility of an action to be taken by the Borrower Holdings or any of its Subsidiaries at any time prior to the delivery of financial statements for the fiscal quarter ending May 31September 30, 20122018, compliance on a Pro Forma Basis with Section 6.096.05, such provision shall mean that on a Pro Forma Basis, Basis (a) the Consolidated Leverage Ratio shall be no greater than 3.00:1.00 and after giving effect to such action, (b) the Consolidated Interest Coverage Ratio shall be no less 2.50 to 1.0 and the Consolidated Net Leverage Ratio shall be no greater than 5.50 to 1.0at least 3.00:1.00.