The credit facility now allows for a maximum leverage ratio of 7-times cash flow for the rest of this year. Then starting next January, it steps down each quarter to a 6-times ratio by December 31, 2011. There’s a cost for the new flexibility: If Entercom’s leverage rises above 6-times, it owes more in base costs and other fees to the lender group that’s led by Bank of America. Entercom’s amended deal also means it’s not in a “restricted period", which limits its ability to pay dividends, do stock buybacks and acquisitions.