Common use of Ratio of Adjusted EBITDA to Fixed Charges Clause in Contracts

Ratio of Adjusted EBITDA to Fixed Charges. The Parent and the Borrower shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries for any two consecutive fiscal quarter period, annualized, to (ii) Fixed Charges of the Parent and its Subsidiaries for such two consecutive fiscal quarter period, annualized, to be less than (x) 1.25 to 1.00 as of the last day of such two consecutive fiscal quarter period for the period from the Effective Date through and including June 30, 2015, (y) 1.35 to 1.00 as of the last day of such two consecutive fiscal quarter period for the period from July 1, 2015 through and including December 31, 2015 and (z) 1.45 to 1.00 as of the last day of such two consecutive fiscal quarter period at any time thereafter; provided, that, from and after the Collateral Release Event, the Parent and the Borrower shall not permit the ratio of (i) Adjusted EBITDA of the Parent and its Subsidiaries for any two consecutive fiscal quarter period to (ii) Fixed Charges of the Parent and its Subsidiaries for such two consecutive fiscal quarter period, to be less than 1.50 to 1.00 as of the last day of such two consecutive fiscal quarter period.