Common use of Debt to Adjusted EBITDA Clause in Contracts

Debt to Adjusted EBITDA. Permit the ratio of (i) the total outstanding amount of Debt of PTP and the Loan Parties and their respective Subsidiaries on a Stand Alone Basis as of the last day of any four fiscal quarter period of PTP, commencing with the four fiscal quarter period ending March 31, 2014, to (ii) the Adjusted EBITDA of PTP and the Loan Parties and their respective Subsidiaries on a Stand Alone Basis for such period, to be greater than (A) for each fiscal period ending on or prior to December 31, 2016, 3.75:1.00 and (B) thereafter, 3.50:1.00.; provided that, notwithstanding any provision in this Agreement to the contrary, for purposes of calculating compliance with this Section 6.13(b), Debt shall exclude any Debt that is non-recourse to each Loan Party or any of their respective Subsidiaries or assets (other than with respect to any non-Loan Party Subsidiary incurring such Debt) and for which no Subsidiary shall be liable except to the extent such Debt is permitted pursuant to Section 6.1(m) or (n) above.

Debt to Adjusted EBITDA. Permit the ratio of (i) the total outstanding amount of Debt of PTP and the Loan Parties and their respective respectivethe Restricted Subsidiaries on a Stand Alone Basis as of the last day of any four fiscal quarter period of PTP, commencing with the four fiscal quarter period ending March 31, 2014, to (ii) the Adjusted EBITDA of PTP and the Loan Parties and their respective respectivethe Restricted Subsidiaries on a Stand Alone Basis for such period, to be greater than (A) for each fiscal period ending on or prior to December 31, 2016, 3.75:1.00 and (B) thereafter, 3.50:1.00.; provided that, notwithstanding any provision in this Agreement to the contrary, for purposes of calculating compliance with this Section 6.13(b), Debt shall exclude any Debt that is non-recourse to each Loan Party or any of their respective Subsidiaries or assets (other than with respect to any non-Loan Party Subsidiary incurring such Debt) and for which no Subsidiary shall be liable except to the extent such Debt is permitted pursuant to Section 6.1(m) or (n) aboveabove.4.00:1.00.