Common use of Computation Date Clause in Contracts

Computation Date. The Administrative Agent will determine the Dollar Amount of: (i) each Advance as of the date three (3) Business Days prior to the date of such Advance (or, if such Advance is permitted to be a same-day Advance, the date of such Advance) or, if applicable, the date of conversion/continuation of any Advance as a Eurocurrency Rate Advance or Alternate Currency Borrowing; and (ii) all outstanding Advances on and as of the last Business Day of each fiscal quarter, and, during the continuation of an Event of Default, on any other Business Day elected by the Administrative Agent in its reasonable discretion or upon instruction by the Required Lenders. Each day upon or as of which the Administrative Agent determines Dollar Amounts as described in the preceding clause (i) and (ii) is herein described as a “Computation Date”.