Compliance Calculation Clause Samples
The Compliance Calculation clause defines the method and criteria for determining whether a party has met specific regulatory, legal, or contractual requirements. Typically, this clause outlines the standards, metrics, or processes used to assess compliance, such as referencing particular laws, industry standards, or audit procedures. By establishing a clear framework for measuring compliance, the clause helps prevent disputes and ensures both parties understand how adherence will be evaluated.
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Compliance Calculation. If and to the extent reasonably requested by the applicable Administrative Agent, within one Business Day of receipt of a Notice of Borrowing, the US Borrower shall have provided to such Administrative Agent a reasonably detailed calculation of the pro forma Fixed Charge Coverage Ratio, if applicable, with such detail consistent with the Compliance Certificate. Each of the giving of the applicable Notice of Borrowing or Letter of Credit Application, the acceptance by the applicable Borrower of the proceeds of such Borrowing, the issuance, increase, renewal or extension of such Letter of Credit, and, if applicable, the reallocation of the Fronting Exposure, shall constitute a representation and warranty by each Borrower that on the date of such Borrowing, such issuance, increase, renewal or extension of such Letter of Credit or reallocation as applicable, the foregoing conditions, to the extent applicable, have been met.
Compliance Calculation. If and to the extent reasonably requested by the applicable Administrative Agent, within one Business Day of receipt of a Notice of Borrowing, the US Borrower shall have provided to such Administrative Agent a reasonably detailed calculation of the pro forma Canadian Asset Coverage Ratio, the pro forma US Asset Coverage Ratio, and the pro forma Leverage Ratio, as applicable, with such detail consistent with the Asset Coverage Certificate and the Compliance Certificate. Each of the giving of the applicable Notice of Borrowing or Letter of Credit Application, the acceptance by the applicable Borrower of the proceeds of such Borrowing, the issuance, increase, renewal or extension of such Letter of Credit, and, if applicable, the reallocation of the Fronting Exposure, shall constitute a representation and warranty by each Borrower that on the date of such Borrowing, such issuance, increase, renewal or extension of such Letter of Credit or reallocation as applicable, the foregoing conditions, to the extent applicable, have been met.
Compliance Calculation. Perform Time for Service Requests shall be calculated, for a given month, as:
Compliance Calculation. The Borrower’s Interest Coverage Ratio as of the end of the most recent fiscal quarter covered by such financial statements is _____ to 1.00, calculated as follows:
Compliance Calculation. NET WORTH
Compliance Calculation. The Borrower’s capital expenditures from the beginning of the current fiscal year through the end of the most recent [fiscal quarter] [month] covered by such financial statements total $________.