Definition of Leverage Ratio

Definition of Leverage Ratio. Borrower acknowledges, confirms and agrees the definition of Leverage Ratio shall be amended to be based upon Shareholders' Equity and not Tangible Net Worth. Accordingly, the definition of Leverage Ratio in Section 18 of Annex 2 to the Loan Agreement is hereby amended and restated in its entirety as follows: "Leverage Ratio" shall mean, the ratio as of the last day of the immediately preceding fiscal period of (i) Total Debt as of such date, to (ii) Shareholders' Equity as of such date.