Common use of Consolidated Total Net Leverage Ratio Clause in Contracts

Consolidated Total Net Leverage Ratio. The Borrower will not permit the Consolidated Total Net Leverage Ratio (a) as of the last day of any Test Period ending on or prior to March 31, 2021 to be greater than 4.00:1.00, or (b) as of the last day of any Test Period ending thereafter to be greater than 3.50:1.00.

Consolidated Total Net Leverage Ratio. The Borrower will not permit the Consolidated Total Net Leverage Ratio (a) as of the last day of any Test Period ending on or prior to March 31Reference Period, 2021 to be greater than 4.00:1.00than: (i) 3.50 to 1.00, or commencing with December 31, 2017 and tested for all quarters thereafter ending prior to December 31, 2019; (bii) as of the last day of any Test Period 3.25 to 1.00, commencing with December 31, 2019 and tested for all quarters thereafter ending thereafter prior to be greater than 3.50:1.00September 30, 2020; and (iii) 3.00 to 1.00, commencing with September 30, 2020 and tested for all quarters thereafter.

Consolidated Total Net Leverage Ratio. The Borrower will not permit the Consolidated Total Net Leverage Ratio (a) as of the last day of any Test Period Reference Period, to be greater than: (i) 3.50 to 1.00, commencing with December 31, 2017 and tested for all quarters thereafter ending on or prior to December 31, 2019; (ii) 3.25 to 1.00, commencing with December 31, 2019 and tested for all quarters thereafter through December 31, 2020; and (iii) 3.00 to 1.00, commencing with March 31, 2021 to be greater than 4.00:1.00, or (b) as of the last day of any Test Period ending thereafter to be greater than 3.50:1.00and tested for all quarters thereafter.