. If on the last day of any Measurement Period (commencing with the Measurement Period ending September 30, 2021), there are outstanding Revolving Loans and Letters of Credit (excluding # undrawn Letters of Credit in an aggregate face amount up to $10,000,000 (with only such Letter of Credit amounts in excess of $10,000,000 being considered outstanding for purposes of this [Section 7.16]) and # Letters of Credit (whether drawn or undrawn) to the extent reimbursed, cash collateralized at 103% of the face amount thereof or backstopped on terms reasonably acceptable to the applicable Issuing Lender) in an aggregate principal amount exceeding 35% of the aggregate principal amount of all Revolving Commitments under all outstanding Revolving Facilities, the Borrower shall not permit the First Lien Net Leverage Ratio as of the last day of such Measurement Period to be greater than 3.50 to 1.00 (such compliance to be determined for each Measurement Period on the basis of the financial information delivered to the Administrative Agent pursuant to Section 6.1(b) and Section 6.1(c) for such Measurement Period) (the “Financial Covenant”).

If on the last day of any Test Period (commencing with the fiscal quarter ending September 30, 2017) there are outstanding Revolving Loans and Letters of Credit (excluding # undrawn Letters of Credit in an amount not to exceed $20.0 million and # Letters of Credit to the extent Cash Collateralized or backstopped (whether drawn or undrawn) on terms reasonably acceptable to the applicable Issuing Bank) in an aggregate principal amount exceeding 35% of the aggregate principal amount of all Revolving Commitments under all outstanding Revolving Facilities (including any Incremental Revolving Facilities),The Borrower shall not permit the Total Net Leverage Ratio as of the last day of suchany Test Period (commencing with the last day of the Test Period ending March 31, 2021) to be greater than 4.50 to 1.00 (such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent pursuant to Section 6.01(1) and Section 6.01(2) for such Test Period) (the “Financial Covenant”).

(x) so long as the provisions of [Section 7.12] have not terminated in accordance with the terms thereof as of the last day of the relevant fiscal quarter (or as of any date thereafter), commencing with the certificate delivered pursuant to Section 6.02(1) for the first full fiscal quarter ending after the Closing Date, # if on the last day of the relevant fiscal quarter there are outstanding Revolving Loans and Letters of Credit (excluding # undrawn Letters of Credit in an aggregate amount of up to $20.0 million and # Letters of Credit (whether drawn or undrawn) to the extent Cash Collateralized or backstopped on terms reasonably acceptable to the applicable Issuing Bank) in an aggregate principal amount exceeding 35% of the aggregate principal amount of all Revolving Commitments under all outstanding Revolving Facilities (including any Incremental Revolving Facilities)ended March 31, 2021, setting forth a calculation of the First LienTotal Net Leverage Ratio as of the last day of the most recent Test Period, or # if the First Lien Net Leverage Ratio as of the last day of the most recent Test Period would result in a change in the applicable “Pricing Level” as set forth in the definition of “Applicable Rate,” setting forth a calculation of such First Lien Net Leverage Ratio.