Common use of Calculation of Financial Covenants on a Pro Forma Basis Clause in Contracts

Calculation of Financial Covenants on a Pro Forma Basis. Notwithstanding the above, the parties hereto acknowledge and agree that all calculations of the financial covenants in Section 7.11 (including for purposes of determining the Applicable Rate) shall be made on a Pro Forma Basis with respect to (i) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, (ii) any Disposition of a line of business, division or operating unit of the Borrower or any Subsidiary, or (iii) any Acquisition, in each case, occurring during the applicable period.

Calculation of Financial Covenants on a Pro Forma Basis. Notwithstanding the above, the parties hereto acknowledge and agree that all calculations of the financial covenants in Section 7.11 8.11 (including for purposes of determining the Applicable Rate) shall be made on a Pro Forma Basis with respect to (i) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, (ii) any Disposition of a line of business, business or division or operating unit of the Borrower or any SubsidiarySubsidiary (other than the School Disposition), or (iii) any Acquisition, in each case, occurring during the applicable period.

Calculation of Financial Covenants on a Pro Forma Basis. Notwithstanding the above, the parties hereto acknowledge and agree that all calculations of the financial covenants in Section 7.11 8.11 (including for purposes of determining the Applicable Rate) shall be made on a Pro Forma Basis with respect to (i) any Acquisition, Disposition or Recovery Event, (ii) any Disposition of all of the Equity Interests of, or all or substantially all of the assets of, a Subsidiary, Subsidiary and (iiiii) any Disposition of a line of business, business or division or operating unit of the Borrower or any a Subsidiary, or (iii) any Acquisition, in each case, case occurring during the applicable period.