Common use of Total Net Leverage Ratio Clause in Contracts

Total Net Leverage Ratio. None of the Borrowers will permit the Total Net Leverage Ratio for any Test Period ended on the last day of a fiscal quarter of Silgan ending during the periods specified below to be greater than the corresponding ratio set forth below: Effective Date through June 30, 2018 5.50:1.00 September 30, 2018 through June 30, 2019 4:50:1.00 September 30, 2019 and thereafter 4.25:1.00 Notwithstanding the foregoing, at any time after September 30, 2018, and so long as a Collateral Release Period is not in effect, in connection with any Permitted Acquisition (or any other acquisition consented to by the Administrative Agent and the Required Lenders) completed after September 30, 2018 having aggregate consideration in excess of $20,000,000, the Borrower may in connection with such acquisition and by written notice to the Administrative Agent (i) to determine compliance on a Pro Forma Basis with this Section, or (ii) prior to or simultaneously with the delivery of financial statements pursuant to Sections 8.01(a) or (b), as applicable, for the fiscal quarter ended immediately after the consummation of such acquisition, elect to increase the required Total Net Leverage Ratio under this Section 9.08 by 0.50:1.00 solely for the fiscal quarter during which such acquisition is consummated and the three (3) consecutive fiscal quarters ending thereafter; provided that there shall be at least one fiscal quarter following the cessation of each such increase during which no such increase shall then be in effect.

Total Net Leverage Ratio. None of the Borrowers will permit the Total Net Leverage Ratio for any Test Period ended on the last day of a fiscal quarter of Silgan ending during the periods specified below to be greater than the corresponding ratio set forth below: December 31, 2023 through September 30, 2024 4.75:1.00 Third Amendment Effective Date through June 30, 2018 5.50:1.00 September 30, 2018 2022 December 31, 2024 and thereafter 5.25:1.00 4.50:1.00 Period December 31, 2022 through June 30, 2019 4:50:1.00 September 30, 2019 and thereafter 4.25:1.00 2023 Notwithstanding the foregoing, at any time after September 30, 2018, and so long as a Collateral Release Period is not in effect, in connection with any Permitted Acquisition (or any other acquisition consented to by the Administrative Agent and the Required Lenders) completed after September 30, 2018 having aggregate consideration in excess of $20,000,000, the Borrower may in connection with such acquisition and by written notice to the Administrative Agent (i) to determine compliance on a Pro Forma Basis with this Section, or (ii) prior to or simultaneously with the delivery of financial statements pursuant to Sections 8.01(a) or (b), as applicable, for the fiscal quarter ended immediately after the consummation of such acquisition, elect to increase the required Total Net Leverage Ratio under this Section 9.08 by 0.50:1.00 solely for the fiscal quarter during which such acquisition is consummated and the three (3) consecutive fiscal quarters ending thereafter; provided that there shall be at least one fiscal quarter following the cessation of each such increase during which no such increase shall then be in effect.. Maximum Total Net Leverage Ratio

Total Net Leverage Ratio. None of the Borrowers will permit the Total Net Leverage Ratio for any Test Period ended on the last day of a fiscal quarter of Silgan ending during the periods specified below to be greater than the corresponding ratio set forth below: Third Amendment Effective Date through June JuneSeptember 30, 2018 5.50:1.00 20182022 5.50:1.005.25:1.00 December 31, 2023 through September 30, 2018 through June 30, 2019 4:50:1.00 20192024 4:50:1.004.75:1.00 September 3030December 31, 2019 20192024 and thereafter 4.25:1.00 4.25:1.004.50:1.00 Notwithstanding the foregoing, at any time after September 30, 2018, and so long as a Collateral Release Period is not in effect, in connection with any Permitted Acquisition (or any other acquisition consented to by the Administrative Agent and the Required Lenders) completed after September 30, 2018 having aggregate consideration in excess of $20,000,000, the Borrower may in connection with such acquisition and by written notice to the Administrative Agent (i) to determine compliance on a Pro Forma Basis with this Section, or (ii) prior to or simultaneously with the delivery of financial statements pursuant to Sections 8.01(a) or (b), as applicable, for the fiscal quarter ended immediately after the consummation of such acquisition, elect to increase the required Total Net Leverage Ratio under this Section 9.08 by 0.50:1.00 solely for the fiscal quarter during which such acquisition is consummated and the three (3) consecutive fiscal quarters ending thereafter; provided that there shall be at least one fiscal quarter following the cessation of each such increase during which no such increase shall then be in effect.