Examples of LCA Election in a sentence
For the avoidance of doubt, if the Borrower has exercised the LCA Election, and any Default or Event of Default occurs following the LCA Test Date and prior to the consummation of such Limited Condition Acquisition, any such Default or Event of Default shall be deemed to not have occurred or be continuing for purposes of determining whether any action being taken in connection with such Limited Condition Acquisition is permitted hereunder.
For the avoidance of doubt, if the Borrower has made an LCA Election and any of the ratios or “baskets” for which compliance was determined or tested as of the LCA Test Date are subsequently exceeded as a result of fluctuations in any such ratio or “basket” (including due to fluctuations of the target of any Limited Condition Acquisition) at or prior to the consummation of the relevant transaction or action, such “baskets” or ratios will not be deemed to have been exceeded as a result of such fluctuations.
The Borrower shall make the LCA Election as of or prior to the LCA Test Date.
Notwithstanding the foregoing, in the case of the extension of any increase of the Term Loan A Commitments or additional Term Loan being provided pursuant to Section 2.1(d), all or a portion of the proceeds of which are to be used to finance a Limited Condition Acquisition for which an LCA Election has been made, clauses (c) and (d) above shall be superseded by the relevant provisions of Section 2.1(d).
For the avoidance of doubt, if the Borrower has made an LCA Election and any of the ratios or baskets for which compliance was determined or tested as of the LCA Test Time are exceeded as a result of fluctuations in any such ratio or basket (including due to fluctuations of EBITDA of the target of any Limited Condition Acquisition) at or prior to the consummation of the relevant Limited Condition Acquisition, such ratios or baskets will not be deemed to have been exceeded as a result of such fluctuations.