Common use of Total Net Leverage Ratio Clause in Contracts

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio as of the end of any Fiscal Quarter set forth below to exceed the level set forth opposite such Fiscal Quarter in the table below: Prior to and including March 31, 2017 3.50 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 December 31, 2017 6.50 to 1.00 March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 December 31, 2018 4.00 to 1.00 March 31, 2019 and thereafter 3.50 to 1.00

Total Net Leverage Ratio. The Borrower will not permit Permit the Total Net Leverage Ratio as at such last day of such fiscal quarter ending during the end of any Fiscal Quarter relevant period set forth below to exceed be greater than the level applicable ratio set forth opposite such Fiscal Quarter in the table below: Prior . June 30, 2015 through December 31, 2015 4.75 to and including 1.00 March 31, 2016 through December 31, 2016 4.50 to 1.00 March 31, 2017 3.50 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 through December 31, 2017 6.50 4.25 to 1.00 March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 through December 31, 2018 4.00 to 1.00 March 31, 2019 through December 31, 2019 3.75 to 1.00 March 31, 2020 and thereafter 3.50 to 1.00

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio Ratio, as of the end last day of any Fiscal Quarter, beginning with the Fiscal Quarter set forth below ending June 30, 2018, to exceed the level correlative ratio set forth opposite such Fiscal Quarter in the table below: Prior to and including March 31, 2017 3.50 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 December 31, 2017 6.50 to 1.00 March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 and September 30, 2018 4.25 to 1.00 5.75:1.00 December 31, 2018 4.00 to 1.00 5.175:1.00 March 31, 2019 through December 31, 2019 4.60:1.00 March 31, 2020 through December 31, 2020 4.025:1.00 March 31, 2021 and thereafter 3.50 to 1.003.45:1.00

Total Net Leverage Ratio. The Borrower will not permit Permit the Total Net Leverage Ratio as at such last day of such fiscal quarter ending during the end of any Fiscal Quarter relevant period set forth below to exceed be greater than the level applicable ratio set forth opposite such Fiscal Quarter in the table below: Prior to and including . June 30, 2018 through March 31, 2017 3.50 2020 5.25 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 December 31, 2017 6.50 to 1.00 2020 through March 31, 2018 5.50 2022 5.00 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 December 31, 2018 4.00 to 1.00 March 31, 2019 2022 and thereafter 3.50 4.75 to 1.00

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio Ratio, as of the end last day of any Fiscal Quarter each Test Period set forth below, to be greater than the ratio set forth below to exceed the level set forth opposite such Fiscal Quarter in the table belowmeasurement date: Prior to and including 4 Quarters ending December 31, 2020 5.25:1.00 4 Quarters ending March 31, 2017 3.50 to 1.00 2021 4.75:1.00 4 Quarters ending June 30, 2017 N/A 2021 4.75:1.00 4 Quarters ending September 30, 2017 6.50 to 1.00 2021 4.75:1.00 4 Quarters ending December 31, 2017 6.50 to 1.00 2021 4.75:1.00 4 Quarters ending March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 December 31, 2018 4.00 to 1.00 March 31, 2019 2022 and ending each fiscal quarter thereafter 3.50 to 1.004.50:1.00

Total Net Leverage Ratio. The Borrower will not permit Permit the Total Net Leverage Ratio as on the last day of any fiscal quarter of the end of any Fiscal Quarter set forth below Borrower (beginning with the fiscal quarter ending September 30, 2016) to exceed the level ratio set forth opposite such Fiscal Quarter date in the table set forth below: Prior to and including March 31September 30, 2017 3.50 to 1.00 2016 through June 30, 2017 N/A 2.50:1.0 September 30, 2017 6.50 to 1.00 through December 31, 2017 6.50 to 1.00 2.25:1.0 March 31, 2018 5.50 to 1.00 through June 30, 2018 4.50 to 1.00 2.00:1.0 September 30, 2018 4.25 to 1.00 through December 31, 2018 4.00 to 1.00 1.75:1.0 March 31, 2019 through December 31, 2019 1.50:1.0 March 31, 2019 and each fiscal quarter ending thereafter 3.50 to 1.001.25:1.0

Total Net Leverage Ratio. The Borrower will not permit Permit the Total Net Leverage Ratio as on the last day of any fiscal quarter of the end of any Fiscal Quarter set forth below Borrower (beginning with the fiscal quarter ending September 30, 2016) to exceed the level ratio set forth opposite such Fiscal Quarter date in the table set forth below: Prior to and including March 31September 30, 2017 3.50 to 1.00 2016 through June 30, 2017 N/A 2.50:1.0 September 30, 2017 6.50 to 1.00 through December 31, 2017 6.50 to 1.00 2.25:1.0 March 31, 2018 5.50 to 1.00 through June 30, 2018 4.50 to 1.00 2.00:1.0 September 30, 2018 4.25 to 1.00 through December 31, 2018 4.00 to 1.00 1.75:1.0 March 31, 2019 through December 31, 2019 1.50:1.0 March 31, 20192020 and each fiscal quarter ending thereafter 3.50 to 1.001.25:1.0

Total Net Leverage Ratio. The Borrower will not Not permit the Total Net Leverage Ratio as of the end last day of any Fiscal Quarter fiscal quarter set forth below to exceed the level corresponding ratio set forth opposite such Fiscal Quarter in the table belowforth: Prior to and including June 30, 2022 9.50:1.00 September 30, 2022 8.00:1.00 December 31, 2022 6.50:1.00 March 31, 2017 3.50 to 1.00 2023 5.50:1.00 June 30, 2017 N/A 2023 4.50:1.00 September 30, 2017 6.50 to 1.00 2023 3.50:1.00 December 31, 2017 6.50 to 1.00 March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 December 31, 2018 4.00 to 1.00 March 31, 2019 2023 and thereafter 3.50 to 1.003.00:1.00

Total Net Leverage Ratio. The Borrower will not permit Permit the Total Net Leverage Ratio as at such last day of such fiscal quarter ending during the end of any Fiscal Quarter relevant period set forth below to exceed be greater than the level applicable ratio set forth opposite such Fiscal Quarter in the table below: Prior . June 30, 2015 through December 31, 2015 4.00 to and including 1.00 March 31, 2016 through December 31, 2016 3.75 to 1.00 March 31, 2017 through December 31, 2017 3.50 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 December 31, 2017 6.50 to 1.00 March 31, 2018 5.50 to 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 through December 31, 2018 4.00 3.25 to 1.00 March 31, 2019 through December 31, 2019 3.00 to 1.00 March 31, 2020 and thereafter 3.50 2.75 to 1.00