Borrower Leverage Clause Samples

Borrower Leverage. At all times during each period indicated below, maintain a ratio of Total Funded Debt to Annualized EBITDA (the "Borrower Leverage Ratio") for the most recently ended fiscal quarter for which financial statements have been, or are required to have been, delivered under Section 6.05(b) of not more than the following: Period Maximum Ratio ------ ------------- The Closing Date through June 29, 2001 4.00:1.00 June 30, 2001 through December 30, 2001 3.75:1.00 December 31, 2001 through June 29, 2002 3.50:1.00 June 30, 2002 through December 30, 2002 3.00:1.00 December 31, 2002 through June 29, 2003 2.50:1.00 June 30, 2003 through December 30, 2003 2.00:1.00 December 31, 2003 and thereafter 1.50:1.00 For purposes of this covenant, Annualized EBITDA shall be determined on a pro forma basis after giving effect to all Acquisitions and Dispositions made by the Companies at any time during the applicable fiscal periods, in each case as if such Acquisitions and Dispositions had occurred at the beginning of such fiscal period and calculated in a manner reasonably satisfactory to the Agent..

Borrower Leverage. At all times during each of the periods set forth below, maintain a ratio of (i) prior to September 30, 2003, Total Funded Debt to Annualized EBITDA (for the most recently ended fiscal quarter) and (ii) on or after September 30, 2003, Total Funded Debt to LTM EBITDA (for the most recently ended fiscal quarter) (the applicable ratio referred to in clause (i) or (ii) being the "Borrower Leverage Ratio"), of not more than the following:". B. Section 5.01(b) is hereby further amended by replacing the portion of the table contained therein applying to periods ending on or after June 30, 2003, with the following: "June 30, 2003 through September 29, 2004 2.00:1.00 September 30, 2004 and thereafter 1.50:1.00". C. Section 5.01(b) is hereby further amended by deleting the last sentence of such Section and substituting therefor the following: "For purposes of this covenant, Annualized EBITDA and LTM EBITDA shall each be determined on a pro forma basis after giving effect to all Acquisitions and Dispositions made by the Companies at any time during the applicable fiscal periods, in each case as if such Acquisitions and Dispositions had occurred at the beginning of such fiscal period and calculated in a manner reasonably satisfactory to the Agent.". D. Section 5.01(c) is hereby amended by adding at the end thereof the following: "Notwithstanding the foregoing, the covenant contained in this Section 5.01(c) shall not apply to periods ending after June 30, 2003.".

Borrower Leverage. Borrower shall maintain at all times during the periods indicated in clauses (A) through (D) below the ratio of (i) Consolidated Indebtedness of the Borrower and its Subsidiaries at such time to (ii) Net Tower Cash Flow of the Borrower and its Subsidiaries at such time, of less than (A) during the period from September 30, 2005 to December 30, 2005, 10.00:1.00, (B) during the period from December 31, 2005 to January 31, 2006, 9.75:1.00, (C) during the period from February 1, 2006 to the date twelve months after the Closing Date, 9.50:1.00, and (D) at any time thereafter, 9.00:1:00.

Borrower Leverage. At all times, during each period indicated below, the Consolidated Companies will maintain a ratio of Total Funded Debt to Annualized EBITDA (the "Borrower Leverage Ratio") of not more than the following: Period Maximum Ratio ------ ------------- The Agreement Effective Date through and including 2.50:1.00 June 30, 2005 Thereafter 3.00:1.00