Calculation Date definition
Examples of Calculation Date in a sentence
If on any Calculation Date, the Lender is holding any Debt Service Covenant Collateral, and the Debt Service Covenant is satisfied, then Lender shall release the Debt Service Covenant Collateral to a Borrower-Agent.
On each Calculation Date, as applicable, the Debt Service Coverage Ratio shall not be less than (A) on a pre-Distribution basis, 2.50:1.0 for the trailing twelve month period ending on such Calculation Date, and (ii) on a post-Distribution basis, 1.50:1.0 for the trailing twelve month period ending on such Calculation Date (the “Debt Service Covenant”).
This Compliance Certificate is with respect to the Compliance Certificate Calculation Date of [•], 20[•].
Pursuant to the provisions of Section 5.14 of the Credit Agreement, the undersigned, solely in his/her capacity as an Authorized Officer, hereby certifies that, except as identified directly below, as at such Compliance Certificate Calculation Date and the date of this certificate no Value Adjustment Events have occurred.