Total Net Leverage Ratio. Commencing on the last day of the first full fiscal quarter of the Company ending after the Execution Date, the Company shall not permit the Total Net Leverage Ratio to exceed 4.50 to 1.00 as of the last day of any fiscal quarter of the Company; provided that the ratio referred to in this Section 6.22 shall be reduced to 4.25 to 1.00 on December 31, 2017, further reduced to 4.00 to 1.00 on December 31, 2018, and further reduced to 3.75 to 1.00 on June 30, 2019.
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Samples: Incremental Amendment (DIEBOLD NIXDORF, Inc), Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc)
Total Net Leverage Ratio. Commencing on the last day of the first full fiscal quarter of the The Company ending after the Execution Date, the Company shall will not permit the Total Net Leverage Ratio to exceed 4.50 to 1.00 as of the last day of any fiscal quarter of the CompanyCompany ending after the Closing Date to exceed 6.00 to 1.00; provided that the such ratio referred shall step down to in this Section 6.22 shall be reduced to 4.25 (i) 5.75 to 1.00 on December and after March 31, 20172019; (ii) 5.50 to 1.00 on and after September 30, further reduced 2019; (iii) 5.00 to 1.00 on and after March 31, 2020; (iv) 4.50 to 1.00 on and after September 30, 2020; and (v) 4.00 to 1.00 on December and after March 31, 2018, and further reduced to 3.75 to 1.00 on June 30, 20192021.
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