Examples of Pro Forma Basis in a sentence
The Administrative Agent shall have received a certificate, dated the Closing Date and signed by a Financial Officer of the Borrower, setting forth reasonably detailed calculations demonstrating that on a Pro Forma Basis, immediately after giving effect to the Transactions occurring on the Closing Date the Loan Parties shall have Liquidity of at least $5,000,000.
The Administrative Agent shall have received a certificate, dated the Closing Date and signed by a Financial Officer of the Borrower, setting forth reasonably detailed calculations demonstrating compliance with the Financial Covenants on a Pro Forma Basis immediately after giving effect to the Transactions occurring on the Closing Date.
Notwithstanding anything to the contrary above, the parties hereto acknowledge and agree that all calculations of the financial covenants set forth herein, including for purposes of determining the Applicable Margin, shall be made on a Pro Forma Basis.
Notwithstanding anything to the contrary herein, but subject to Section 1.5 hereof, all financial ratios and tests (including the Fixed Charge Coverage Ratio and the amount of Consolidated Total Assets and Consolidated Adjusted EBITDA but excluding Net Excess Availability) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect to such Test Period and such Subject Transaction on a Pro Forma Basis.
Immediately after giving effect to the Closing Date Transactions, (i) the ARR Total Leverage Ratio does not exceed 0.67:1.00, calculated on a Pro Forma Basis as of the end of the most recent Test Period, (ii) the ARR Net Leverage Ratio does not exceed 0.00:1.00, calculated on a Pro Forma Basis as of the end of the most recent Test Period and (iii) Liquidity is not less than $175,000,000.