Maximum Net Leverage Ratio. ​ will not permit the ratio, determined as of the end of each of its Fiscal Quarters, of # Net Consolidated Debt as of the last day of such Fiscal Quarter to # Consolidated EBITDA for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter to exceed 4.00 to 1.00.

Maximum Net Leverage Ratio. ​ will not permit the ratio, determined as of the end of each of its Fiscal Quarters, of # Net Consolidated Debt as of the last day of such Fiscal Quarter to # Consolidated EBITDA for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter to exceed 4.00 to 1.00.

Maximum Net Leverage Ratio.Ratio [[Company:Borrower:Organization]] will not permit the ratio, determined, on a consolidated basis, shall not, as of the end of any fiscal quarter, permit its consolidated ratio of # total Indebtedness as of such date to # the sum of Consolidated EBIT plus depreciation and amortization expense (the “Leverage Ratio”) for the period of four prior fiscal quarters ending on such date to be more than 3.50 to 1.00; provided, however, after the occurrence of any Acquisition (or series of related transactions for the purpose of or resulting in such Acquisition) with aggregate consideration in excess of $75,000,000 (the “Triggering Acquisition”), at the option of ​, for each of its Fiscal Quarters, of # Net Consolidated Debtthe four consecutive fiscal quarters ending after such option exercise (a “Covenant Holiday”), the Leverage Ratio as of the last day of such Fiscal Quarter to # Consolidated EBITDA for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter tofiscal quarter shall not exceed 4.00 to 1.00; provided further, however, after any Covenant Holiday, prior to the exercise by ​ of any subsequent Covenant Holiday, # there shall not have been a Covenant Holiday in effect for the fiscal quarter immediately prior to the applicable Triggering Acquisition, and # the Leverage Ratio for the four consecutive fiscal quarters ending immediately prior to the applicable Triggering Acquisition shall not be higher than 3.50 to 1.00.

Maximum Net Leverage Ratio. ​The Parent will not permit the ratio, determined as of the end of each fiscal quarter of its Fiscal Quarters,the Parent, for the then most-recently ended four fiscal quarters of # Consolidated Net Consolidated Debt as of the last day of such Fiscal QuarterIndebtedness to # Consolidated EBITDA for the period of four (4) consecutive Fiscal Quarters ending with the end of such Fiscal Quarter(the “Leverage Ratio”) to exceed 4.be greater than 3.00 to 1.00.

Maximum “Net Leverage Ratio. ​ will not permitRatio” shall mean the ratio, determined as of the end of eachany fiscal quarter of its Fiscal Quarters,Holdings, of # Consolidated Net Consolidated Debt as of the last dayend of such Fiscal Quarterany fiscal quarter to # Consolidated EBITDA for the period of four (4) consecutive Fiscal Quartersfiscal quarters ending with the endlast day of such Fiscal Quarter to exceed 4.00 to 1.00.fiscal quarter, all calculated for Holdings and its Subsidiaries on a consolidated basis.