Annualization. For purposes of calculating compliance with Section 7.11 or determining the Leverage-Based Applicable Rate (as defined in the definition of Applicable Rate) in each case at any time prior to the delivery of financial statements pursuant to Section 6.026.01(b) for the quarter ended March 31, 2015, (i) the relevant four consecutive fiscal quarter period shall be determined on an annualized basis reasonably acceptable to the Administrative Agent with the first fiscal quarter being the fiscal quarter ended June 30, 2014 and (ii) any Calculation Period used in determining such compliance or ratio prior to March 31, 2015 shall be a reference to such annualized period.
Appears in 1 contract
Annualization. For purposes of calculating compliance with Section 7.11 or determining the Leverage-Based Applicable Rate (as defined in the definition of Applicable Rate) in each case at any time prior to the delivery of financial statements pursuant to Section 6.026.01(b6.02(b) for the quarter ended March 31, 2015, (i) the relevant four consecutive fiscal quarter period shall be determined on an annualized basis reasonably acceptable to the Administrative Agent with the first fiscal quarter being the fiscal quarter ended June 30, 2014 and (ii) any Calculation Period used in determining such compliance or ratio prior to March 31, 2015 shall be a reference to such annualized period.
Appears in 1 contract