Initial Compliance Certificate definition
Examples of Initial Compliance Certificate in a sentence
Initial Compliance Certificate dated as of the Closing Date reflecting calculations as of March 31, 2007.
To maintain on a consolidated basis minimum Unrestricted, Unencumbered Liquid Assets of not less than Five Million Dollars ($5,000,000), measured at the end of each reporting period for which the Bank requires financial statements from the Borrower, with the first calculation of Unrestricted, Unencumbered Liquid Assets reflected in the Initial Compliance Certificate, and in each subsequent Compliance Certificate.
To maintain a Fixed Charge Coverage Ratio of 1.25:1.00 or greater, measured at the end of each reporting period for which the Bank requires financial statements from the Borrower, using the results of the trailing twelve-month period ending with that reporting period, with the first calculation reflected in the Initial Compliance Certificate, and in each subsequent Compliance Certificate.
Initial Compliance Certificate as of the Closing Date delivered by the Borrower.
The first Compliance Certificate hereunder shall be due on or before the forty-fifth (45th) day following December 31, 2005 (the "Initial Compliance Certificate").