Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.
Senior Leverage Ratio The Borrower shall not permit its Senior Leverage Ratio at any time to exceed 2.75 to 1.00.
Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2017, to exceed the ratio set forth below with respect to such fiscal quarter: Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarter ending September 30, 2017 5.50 to 1.00 Fiscal quarter ending December 31, 2017 4.50 to 1.00 Fiscal quarter ending March 31, 2018 4.50 to 1.00 Fiscal quarters ending June 30, 2018 and thereafter 3.00 to 1.00
Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.
Total Net Leverage Ratio The Borrower will not permit the Total Net Leverage Ratio as of the end of any Fiscal Quarter to exceed 3.50 to 1.00.
Measurement Period (b) In this Agreement, unless the contrary intention appears, a reference to:
Total Leverage Ratio Permit the Total Leverage Ratio as of the last day of any fiscal quarter ending during any period set forth below to be greater than the ratio set forth below opposite such period: Period Ratio January 1, 2011 through March 31, 2012 6.00:1.00 April 1, 2012 through June 30, 2012 5.75:1.00 July 1, 2012 through December 31, 2012 5.50:1.00 January 1, 2013 and thereafter 4.50:1.00
Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.