"Senior Funded Debt to EBITDA Ratio" shall mean the ratio of Senior Funded Debt to EBITDA.

Priority Debt Ratio. The Company shall not permit its Priority Debt Ratio, calculated on a consolidated basis for the Company and its Subsidiaries, to exceed 2.25 to 1.00 as of the last day of each fiscal quarter.

Secured Debt Ratio. The Secured Debt Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be less than or equal to 0.40 to 1.0.

"Leverage Ratio" means the ratio of Net Debt to EBITDA.

After March 31, 2018, but on or prior to June 30, 2018, the Consolidated Total Funded Debt to Consolidated EBITDA Ratio shall at no time exceed 3.25 to 1.00.

Liquidity Measures (e.g., debt-to-capital, debt-to-EBITDA, or total debt ratio);

“Total Funded Debt to EBITDA Ratio” means, as of the date of determination, the ratio of # the sum of the Obligations, Subordinated Debt, and Borrower’s Capital Lease Obligations, to # EBITDA for the trailing 12 month period ended on the date of determination.

On and after October 3, 2016, the Total Funded Debt to EBITDA ratio shall not exceed a maximum ratio of 2.75x

“Total Leverage Ratio” means, on any date, the ratio of # Consolidated Total Debt as of such date to # Consolidated EBITDA for the Test Period as of such date.

“Consolidated Cash Flow Leverage Ratio” shall mean, at any time, the ratio of # Consolidated Indebtedness minus the principal amount of Permitted Subordinated Debt at such time to # Consolidated EBITDA.