Oscillators are often followed by square wave forming circuits and frequency dividers. Traditionally, the level of the phase noise, transferred from the oscillator outputs to the square waves obtained is calculated ignoring the correlations in the oscillator phase noise spectrum. In this paper, accurate expressions are derived, taking into account the phase noise mechanisms in the oscillators. The phase noise power spectral densities are calculated in both the traditional way and by using the proposed expressions and they are compared. The situations where the proposed expressions can be useful are identified.