Definition of Accounts Reporting Requirement

Accounts Reporting Requirement means the requirement that, as of any date of determination, at least one of the following conditions shall be satisfied: (a) Accounts Reporting Average Availability is equal to or greater than $25,000,000 (or, after the exercise of the Financial Covenant Option and the release of the Minimum Availability Reserve, is equal to or greater than $40,000,000) or (b) the Fixed Charge Coverage Ratio of the Consolidated Parties, measured as of the last day of the immediately preceding calendar month for the trailing twelve month period then ended, is at least 1.0 to 1.0.

Examples of Accounts Reporting Requirement in a sentence

The other information comprises the information included in the Statement of Accounts set out on pages 162 to 213, the Pension Fund Accounts Reporting Requirement, other than the pension fund financial statements, our auditor’s report thereon and our auditor’s report on the Authority’s financial statements.