Normalization Date definition
Examples of Normalization Date in a sentence
On and after the Normalization Date, the Company will not permit, as at any Testing Date, the ratio of Consolidated Net Debt as at such Testing Date to Consolidated EBITDA for the Accounting Period ending on such Testing Date to exceed for each Testing Date, 3.0 to 1.0.
On and after the Normalization Date, the Company will not permit, as at any Testing Date, the ratio of Consolidated EBITA to Consolidated Net Interest Expense, in each case determined for the Accounting Period ending on such Testing Date, to be less than 3.0 to 1.0.
Normalization Date—shall be the date on which the Company delivers a Normalization Certificate to each of the Noteholders and each of the four Normalization Conditions shall have been concurrently satisfied provided that the Normalization Date may not occur until after the Company has issued its audited financial accounts for the financial year ended December 31, 2003 and in any event not prior to June 30, 2004.
Prior to the Normalization Date, the Company will not, and will not permit any Guarantor (except for the Guarantors listed on Schedule 10.10 which are not Wholly-Owned Subsidiaries) to declare (including, without limitation, by way of set-off, combination of accounts or otherwise), make, pay or permit to accrue any Distribution (whether in cash or in specie), provided that the Company or any Guarantor may declare or permit to accrue a Distribution to the Company or another Guarantor, as the case may be.