Total Leverage. Holdings and its Subsidiaries on a consolidated basis shall not permit the ratio of (a) Holdings' and its Subsidiaries' Indebtedness on a consolidated basis, to (b) Holdings' and its Subsidiaries' EBITDA for the trailing twelve months on a consolidated basis, each calculated as of the last day of any fiscal quarter set forth below to be greater than the ratio set forth below for such periods: Fiscal Quarter Ending Ratio --------------------- ----- January 31, 2007 4.75 to 1.0 April 30, 2007 4.75 to 1.0 July 31, 2007 4.75 to 1.0 October 31, 2007 4.75 to 1.0 January 31, 2008 4.50 to 1.0 April 30, 2008 4.50 to 1.0 July 31, 2008 4.25 to 1.0 October 31, 2008 4.25 to 1.0 January 31, 2009 4.00 to 1.0 April 30, 2009 4.00 to 1.0 July 31, 2009 4.00 to 1.0 October 31, 2009 4.00 to 1.0 January 31, 2010 3.75 to 1.0 April 30, 2010 3.75 to 1.0 July 31, 2010 3.75 to 1.0 October 31, 2010 3.75 to 1.0 January 31, 2011 and the last day of each fiscal 3.50 to 1.00 quarter ending thereafter
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Total Leverage. Holdings and its Subsidiaries on a consolidated basis shall not permit the ratio of (a) Holdings' and its Subsidiaries' Indebtedness on a consolidated basis, to (b) Holdings' and its Subsidiaries' EBITDA for the trailing twelve months on a consolidated basis, each calculated as of the last day of any fiscal quarter set forth below to be greater than the ratio set forth below for such periods: Fiscal Quarter Ending Ratio --------------------- ----- January 31, 2007 4.75 to 1.0 April 30, 2007 4.75 to 1.0 July 31, 2007 4.75 to 1.0 October 31, 2007 4.75 to 1.0 January 31, 2008 4.50 to 1.0 April 30, 2008 4.50 to 1.0 July 31, 2008 4.25 to 1.0 October 31, 2008 4.25 to 1.0 January 31, 2009 4.00 to 1.0 April 30, 2009 4.00 to 1.0 July 31, 2009 4.00 to 1.0 October 31, 2009 4.00 to 1.0 January 31, 2010 3.75 to 1.0 April 30, 2010 3.75 to 1.0 July 31, 2010 3.75 to 1.0 October 31, 2010 3.75 to 1.0 January 31, 2011 and the last day of each fiscal 3.50 to 1.00 fiscal quarter ending thereafter
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