Applicable Margin Adjustment Date has the meaning set forth in the definition of Applicable Margin.
Applicable Margin Adjustment Date means the first date of any month following any month that the Borrower has for such month positive EBITDA, calculated on a trailing twelve (12) month basis, so that after giving effect to such positive EBITDA the Borrower has a Fixed Charge Coverage Ratio of not less than 1.1:1.0.
Applicable Margin Adjustment Date means the 25th day of each calendar month, commencing with March 25, 2024.
Examples of Applicable Margin Adjustment Date in a sentence
No later than five (5) Business Days prior to an Applicable Margin Adjustment Date, Borrower shall furnish the Administrative Agent with calculations of the LIBOR Applicable Margin, Federal Funds Applicable Margin and Prime Rate Applicable Margin as of the Applicable Margin Adjustment Date, together with sufficient detail to allow the Administrative Agent to review the Borrower's calculations.
The LIBOR Applicable Margin, Federal Funds Applicable Margin and Prime Rate Applicable Margin shall be recalculated by the Administrative Agent (which calculation shall be binding on all parties, absent patent error), and the interest on each Advance shall be correspondingly increased or decreased, on and as of each Applicable Margin Adjustment Date.
In the event that the date on which the interest on any Advance is converted to, or otherwise commences to accrue at, the Alternate Rate is a date that is not an Applicable Margin Adjustment Date, then the Alternate Rate shall be calculated on the basis of the Leverage Percentage as of the most recent Applicable Margin Adjustment Date.
More Definitions of Applicable Margin Adjustment Date
Applicable Margin Adjustment Date has the meaning set forth in the definition of Applicable Margin. “ Applicable Order ” means any applicable domestic or foreign order, judgment, award or decree made by any court or Governmental Authority. “ Arm’s Length ” has the meaning specified in the definition of “ Non Arm’s Length ”. “ Arrangement Agreement ” means the arrangement agreement made as of the 26 th day of May, 2010 among the Fund, JEEC, JustEnergy and JEC and approved by the Court of Queen’s Bench of Alberta, Judicial District of Calgary on June 30 , 2010 , as supplemented, modified or amended . “ Assignment Agreement ” has the meaning specified in Sec tion 15.02. “ Associate ” means an “associate” as defined in the Business Corporations Act (Ontario). “Available Supply” means, at any time, the amount of natural gas, electricity or JustGreen Products (whether physical or financial) contracted for by the Obligors under existing Supplier Contracts, less any sales of excess of such commodity already contracted for under existing Supplier Contracts at such time. “ Average Net Senior Debt Utilization to EBITDA Ratio ” means, for any Fiscal Quarter, the ratio of (a) the daily average of (i) the amount of the Senior Debt, less (ii) the aggregate amount of the cash on deposit in the bank accounts of the Obligors and any Cash Equivalents (determined on a Modified Consolidated Basis), each measured at 5:00 p.m. Toronto time on each day in such Fiscal Quarter, and (b) EBITDA in respect of the immediately preceding Four Quarter Period.
Applicable Margin Adjustment Date means, (a) January 15, 2002 (the "Initial Applicable Margin Adjustment Date") and (b) thereafter, the first day of the first month following receipt by Bank of the financial statements required to be delivered under SECTION 8.7 hereof for each fiscal quarter of International.
Applicable Margin Adjustment Date means the date on which any Applicable Margin Adjustment Event occurs.
Applicable Margin Adjustment Date has the meaning set forth in the definition of Applicable Margin. “ Applicable Order ” means any applicable domestic or foreign order, judgment, award or decree made by any court or Governmental Authority. “ Arm’s Length ” has the meaning specified in the definition of “ Non Arm’s Length ”. “ Arrangement Agreement ” means the arrangement agreement made as of the 26 th day of May, 2010 among the Fund, JEEC, JustEnergy and JEC and approved by the Court of Queen’s Bench of Alberta, Judicial District of Calgary on June 30 , 2010 , as supplemented, modified or amended . “ Assignment Agreement ” has the meaning specified in Sec tion 15 . 02 .
Applicable Margin Adjustment Date shall be added to Section 1.1 of the Agreement and shall mean the date on which any Applicable Margin Adjustment Event occurs.
Applicable Margin Adjustment Date means the later of (i) December 31, 2009 or (ii) the first day of the calendar month of the required delivery date for the financial statements delivered to Bank pursuant to Section 5.6(b) (other than with respect to the calendar month ending December 31, 2009) or Section 5.6(c)(ii) which evidences that Borrowers maintained a Fixed Charge Coverage Ratio of not less than 1.00 to 1.00 for a period of four (4) consecutive, trailing calendar quarters.
Applicable Margin Adjustment Date means (i) as to any change in the applicable Margin which will result in a reduction in such applicable Margin, the first day of the first month following the date on which the Agent and the Banks shall have received the financial statements relating to the last day of the relevant fiscal quarter pursuant to Section 5.1(b), or (ii) as to any change in the applicable Margin which will result in an increase in such applicable Margin, the first day of the second month following the date on which the Agent and the Banks shall have received the financial statements relating to the last day of the relevant fiscal quarter pursuant to Section 5.1(b)."