Total Net Indebtedness to EBITDA Ratio. Permit the ratio, determined as of the end of each quarter of each fiscal year of the Parent, commencing with that ending on December 31, 2007, of (a) Indebtedness of the Parent, on a consolidated basis with its consolidated Subsidiaries, for borrowed money (exclusive, for the avoidance of doubt, of trade accounts payable and accrued liabilities, net unrealized losses or charges in respect of Commodity Hedge Agreements or Interest Rate Hedge Agreements and the undrawn, unexpired amount of all outstanding Letters of Credit, if such would otherwise be included) in excess of the amount of unrestricted (other than pursuant to applicable provisions of this Agreement or any other Loan Document or the Second Lien Credit Agreement or documents entered into pursuant thereto) cash or cash equivalents of the Parent on a consolidated basis with its consolidated Subsidiaries to (b) EBITDA for the preceding four quarterly periods (including that ended on the date of determination) to be more than the ratio indicated below for each relevant period indicated below:
Total Net Indebtedness to EBITDA Ratio. Permit the ratio, determined as of the end of each quarter of each fiscal year of the Parent, commencing with that ending on December 31, 2009, of (a) Indebtedness of the Parent, on a consolidated basis with its consolidated Subsidiaries, for borrowed money (exclusive, for the avoidance of doubt, of trade accounts payable and accrued liabilities, net unrealized losses or charges in respect of Commodity Hedge Agreements or Interest Rate Hedge Agreements and the undrawn, unexpired amount of all outstanding Letters of Credit, if such would otherwise be included) in excess of the amount of unrestricted (other than pursuant to applicable provisions of this Agreement or any other Loan Document cash or cash equivalents of the Parent on a consolidated basis with its consolidated Subsidiaries to (b) EBITDA for the preceding four quarterly periods (including that ended on the date of determination) to be more than 4.00 to 1.00.
