 When is the quarterly Compliance Certificate delivered?
Commencing on September 30, 2016 (or December 31, 2016 if the Loan Parties have delivered an acquisition Compliance Certificate in connection with the CECA Acquisition prior to the delivery of the quarterly Compliance Certificate for the fiscal quarter ending September 30, 2016), and as of the end of each fiscal quarter thereafter, the Loan Parties shall not permit the Leverage Ratio to exceed 3.25 to 1.00, in each case for the four (4) fiscal quarters then ended.
the fiscal quarter ending September 30, 2016