Consolidated Leverage Ratio (Line I.A ¸ Line I.B): to 1.00

Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as at the end of any Measurement Period to be greater than # 3.50 : 1.00, or # 4.00 : 1.00 at the Borrowers’ option for the four (4) consecutive quarters following a Designated Acquisition; provided, that this clause (ii) may not be exercised more than two (2) times.

Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end of any Measurement Period, commencing with the Measurement Period ending December 31, 2020, to be greater than the ratio set forth below opposite such date for the Measurement Period ending on such day:

Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the last day of any fiscal quarter of the Parent REIT to exceed 60%; provided that, the Borrower may on two non-consecutive occasions elect a one-time step up to 65% for two consecutive quarters following a Material Acquisition. (For the avoidance of doubt, the Borrower may not elect a step-up to 65% for any four consecutive fiscal-quarter period.)

Consolidated Leverage Ratio. As of the Closing Date, after giving effect to the consummation of the Transactions, the Consolidated Leverage Ratio calculated on a pro forma basis shall be no more than 3.00 to 1.00.

Is I.1 / I.2 less than 35%? [Y/N]

Maximum Consolidated Leverage Ratio. As of the last day of any Fiscal Quarter ending during the periods specified below, the Borrower shall not permit the Consolidated Leverage Ratio to be greater than the corresponding ratio set forth below:

Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower (or, if less, the number of full fiscal quarters subsequent to the Closing Date[[Borrower:Organization]] ending with any fiscal quarter to exceed 3.75:1.00 (provided, that, at the election of the Borrower by delivering written notice to the Administrative Agent on or prior to the consummation of a Material Permitted Acquisition, the applicable Consolidated Net Leverage Ratio shall be 4.25:1.00 for four quarters following such Material Permitted Acquisition; provided, further, that the Borrower may only make up to three such elections during the term of this Agreement and, after making any such election, may only make a subsequent election after at least one full fiscal quarter shall have elapsed after the end of any step-up in the maximum Consolidated Net Leverage Ratio as a result of a prior election[[Borrower:Organization]]; provided, further, that from and after the Collateral Release Date (unless the Collateral and Guarantees have been reinstated in accordance with Section 10.14(c[[Borrower:Organization]], Indebtedness of Subsidiaries (other than any Specified Joint Ventures and Foreign Subsidiaries[[Borrower:Organization]] must be permitted under [Section 7.2].

Maximum Consolidated Leverage Ratio. Permit, as of the last day of each fiscal quarter of the Borrower, the Consolidated Leverage Ratio to exceed # for the period ending on the last day of the fiscal quarter immediately preceding the fiscal quarter during which the Covenant Waiver Period Termination Date occurs (i.e., [[Unknown Identifier]] if no early election) and for the fiscal quarter during which the Covenant Waiver Period Termination Date occurs (i.e., [[Unknown Identifier]] if no early election), 8.50 to 1.00, # for the period ending on the last day of the fiscal quarter immediately following the fiscal quarter during which the Covenant Waiver Period Termination Date occurs (i.e., [[Unknown Identifier]] if no early election) and for the period ending on the last day of the second fiscal quarter following the fiscal quarter during which the Covenant Waiver Period Termination Date occurs (i.e., [[Unknown Identifier]] if no early election), 8.00 to 1.00, # for the period ending on the last day of the third fiscal quarter following the fiscal quarter during which the Covenant Waiver Period Termination Date occurs (i.e., [[Unknown Identifier]] if no early election), 7.50 to 1.00, and # for each period thereafter, 6.50 to 1.00; provided that, notwithstanding the foregoing, the Consolidated Leverage Ratio may exceed 6.50 to 1.0, but not exceed 7.0 to 1.0, as of the last day of each fiscal quarter that occurs during a Surge Period.

Leverage Ratio. The Leverage Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be less than or equal to 0.60 to 1.0; provided that such ratio may exceed 0.60 to 1.0 as of the end of up to four (4) fiscal quarters of the Combined Parties during the term of this Credit Agreement (whether or not consecutive) so long as such ratio does not exceed 0.65 to 1.0.