Consolidated Total Debt/Consolidated EBITDA Ratio. Ratio of Consolidated Total Debt to Consolidated EBITDA not greater than 3.00 to 1.00 as of each Fiscal Quarter end, determined on a rolling 4-quarter basis, provided, that, during the Modification Period, the ratio of Consolidated Total Debt to Consolidated EBITDA shall be determined on the following basis:

Total Debt to Total Capitalization. The Borrower will not permit Total Debt at any time to exceed 35% of Total Capitalization.

Consolidated Total Leverage Ratio. As of the last day of any Fiscal Quarter, permit the Consolidated Total Leverage Ratio to be greater than 3.50:1.004.75:1.00; provided that for the four Fiscal Quarters ending after the date of a Material Acquisition, such maximum Consolidated Total Leverage Ratio shall be deemed to be 3.75:1.005.00:1.00, and thereafter 3.50:1.004.75:1.00.

Consolidated Total Leverage Ratio. The Consolidated Total Leverage Ratio as of the end of any fiscal quarter shall be no greater than # 5.00 to 1.0 from the Effective Date and continuing through the fiscal quarter ending December 31, 2020, # 4.50 to 1.0 for the fiscal quarter ending March 31, 2021 and continuing through the fiscal quarter ending December 31, 2021, # 4.00 to 1.0 for the fiscal quarter ending March 31, 2022 and continuing through the fiscal quarter ending December 31, 2022 and # 3.50 to 1.0 for the fiscal quarter ending March 31, 2023 and for each fiscal quarter ending thereafter.

Consolidated Total Leverage Ratio. Beginning with the fiscal quarter ending December 31, 2017, as of the last day of any fiscal quarter, permit the Consolidated Total Leverage Ratio to be greater than the ratio set forth opposite such fiscal quarter below;

Total Debt to MRR. Maintain Total Debt to MRR calculated on a consolidated basis for the Loan Parties of not more than:

“Consolidated Funded Debt to Total Capitalization Ratio” means the ratio of Consolidated Funded Debt to Consolidated Total Capitalization.

Consolidated Funded Debt to Consolidated EBITDA. On the Computation Date, the ratio of Consolidated Funded Debt to Consolidated EBITDA, which is required to be not more than 3.5 to 1.0, was ​ to 1.0 as computed in the supporting documents attached hereto as [Schedule 2].

“Consolidated Secured Total Debt”: at any date Consolidated Total Debt secured by a Lien.

“Consolidated Secured Total Debt”: at any date Consolidated Total Debt secured by a Lien.