Common use of Covenant Calculation Clause in Contracts

Covenant Calculation. All calculations shall be based upon the financial statements submitted by the Borrower that are acceptable to Lender and Affiliate Counterparty; provided, however, that if Borrower’s financial statements as reported by Borrower do not, in the view of Lender and/or Affiliate Counterparty, accurately reflect Borrower’s operations, and Lender and Affiliate Counterparty make an independent, good faith determination of Borrower’s Net Income, assets or liabilities, such determination will be conclusive.