Calculation Date. The term “CALCULATION DATE” means each of the dates upon which the APPLICABLE PERCENTAGES are to be determined and adjusted, which adjustment shall be made at the end of each FISCAL QUARTER on the date occurring five (5) BUSINESS DAYS after the date on which the ADMINISTRATIVE AGENT receives the quarterly officer’s certificate in accordance with the provisions of Section 5.11.7 of this AGREEMENT, or otherwise as required by the terms of this AGREEMENT.
Appears in 2 contracts
Sources: Loan and Security Agreement (Martek Biosciences Corp), Loan and Security Agreement (Martek Biosciences Corp)
Calculation Date. The term “CALCULATION DATE” means each of the dates upon which the APPLICABLE PERCENTAGES MARGINS are to be determined and adjusted, which adjustment shall be made at the end of each FISCAL QUARTER quarterly on the date occurring five (5) BUSINESS DAYS after the date on which the ADMINISTRATIVE AGENT LENDER receives the quarterly officer’s certificate COMPLIANCE CERTIFICATE in accordance with the provisions of Section 5.11.7 2.1.2 of this AGREEMENT, or otherwise as required by the terms of this AGREEMENT.
Appears in 2 contracts
Sources: Loan and Security Agreement (Avatech Solutions Inc), Loan and Security Agreement (Avatech Solutions Inc)