Fixed Charge Coverage Ratio. The Fixed Charge Coverage Ratio determined for the most recently ended twelve (12) consecutive fiscal months of the Specified EBITDA Entities for which Agent has received financial statements shall be not less than 1.00 to 1.00 at all times, provided, that, the Loan Parties shall only be required to comply with the terms of this [Section 7.1] during a Compliance Period, in which case such financial covenant shall be tested as of the last day of the then most recently ended fiscal quarter for which financial statements have been delivered and for each quarter end thereafter until the Compliance Period ends.

Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed Charge Coverage Ratio, on the last day of any fiscal quarter of the Borrower, commencing with the fiscal quarter ending ​ and each fiscal quarter thereafter during the term of this Agreement and calculated for the period of the four consecutive fiscal quarters ending on such date, to be less than 1.25 to 1.00.

Fixed Charge Coverage Ratio. During any Covenant Testing Period, ​ will cause to be maintained, as of each Fixed Charge Coverage Test Date, a Fixed Charge Coverage Ratio as of the twelve (12) month period then ended of not less than 1.0 to 1.0; provided that for any testing of the Fixed Charge Coverage Ratio for any period ending on or prior to ​, such test shall be for the period commencing on ​ and ending on the last day of the applicable month.

Fixed Charge Coverage Ratio. The Fixed Charge Coverage Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be greater than or equal to 1.5 to 1.0.

Minimum Fixed Charge Coverage Ratio. At any time that (and for so long as) Excess Availability is less than the greater of # an amount equal to ten (10%) percent of the Total Borrowing Base and # ​ (a “Financial Covenant Triggering Event”), the Fixed Charge Coverage Ratio of Borrowers (on a combined basis) for the most recently ended twelve (12) month period for which Administrative Agent has received financial statements of Borrowers (commencing with the most recently ended twelve (12) month period immediately preceding the date on which a Financial Covenant Triggering Event first occurs for which Administrative Agent has received financial statements of Borrowers) and for each twelve (12) month period thereafter for which Administrative Agent has received financial statements of Borrowers shall be greater than 1.00 to 1:00. To the extent that a Financial Covenant Triggering Event has occurred, if Excess Availability shall thereafter be equal to or greater than the greater of # an amount equal to ten (10%) percent of the Total Borrowing Base and # ​ for at least thirty (30) consecutive days, then the Financial Covenant Triggering Event shall no

“Fixed Charge Coverage Ratio” shall mean, with respect to any fiscal period, the ratio of

“Four Quarter Period” has the meaning specified in the definition of “Consolidated Fixed Charge Coverage Ratio”.

As of the Compliance Test Date shown above, the Fixed Charge Coverage Ratio is ​ to 1.00

the Consolidated Fixed Charge Coverage Ratio would be equal to or greater than the Consolidated Fixed Charge Coverage Ratio immediately prior to such transaction or the ratio of Indebtedness of Holdings and the Restricted Subsidiaries to Consolidated Tangible Net Worth of Holdings would be equal to or less than the ratio immediately prior to such transaction.

Minimum Fixed Charge Coverage Ratio. Commencing with the fiscal month ending ​, permit the Fixed Charge Coverage Ratio, measured as of the last day of each Test Period ending on the last day of each fiscal month for which financial statements are required to be delivered pursuant to [Section 5.1], to be less than 1.00 to 1.00.”

RE: Side Letter in Respect of Series J Equity Issuance and Calculation of Fixed Charge Coverage Ratio

Furthermore, in calculating “Consolidated Cash Flow Available for Fixed Charges” for purposes of determining the denominator (but not the numerator) of this “Consolidated Fixed Charge Coverage Ratio,”

6A(2).Fixed Charge Coverage Ratio. The ratio of Adjusted EBITDA to Fixed Charges to be less than 1.50 to 1.00 at the end of any fiscal quarter.

“Fixed Charge Coverage Ratio” means, as of any date, the ratio of # Net Cash Flow to # Debt Service.

“Calculation Date” shall mean the date on which the event for which the calculation of the Fixed Charge Coverage Ratio or the Consolidated Secured Leverage Ratio, as applicable, shall occur.