as of the date such Loan was first included in the Borrowing Base, if such Loan is a First Lien Last Out Loan, senior debt to EBITDA does not exceed 4.0 to 1.00, first lien debt to EBITDA throughout the applicable tranche does not exceed 6.0 to 1.00 and the Obligor of which has EBITDA of at least $10,000,000 (excluding any Capped Add-Backs); provided, however, that, any portion of a First Lien Last Out Loan causing first lien debt to EBITDA to be in excess of 6.0 to 1.00 shall be classified as a Second Lien Loan and subject to the criteria applicable thereto;

as of the date such Loan was first included in the Borrowing Base, if such Loan is a Second Lien Loan, the Obligor of such Loan has EBITDA of at least $10,000,000 (excluding any Capped Add-Backs);