Examples of Pro Forma Compliance in a sentence
After giving Pro Forma Effect to the Transaction (including the initial Credit Extension), the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Financial Covenants.
For the avoidance of doubt, the provisions of the foregoing sentence shall not apply for purposes of calculating any test for purposes of Section 7.11 (other than for the purpose of determining Pro Forma Compliance with Section 7.11(a), 7.11(b) or 7.11(c)), each of which shall be based on the financial statements delivered pursuant to Section 6.01(a) or (c), as applicable, for the relevant Test Period.
The Borrower may at any time designate any Restricted Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary if (i) no Default or Event of Default exists or would result therefrom and (ii) the Borrower and its Restricted Subsidiaries are in Pro Forma Compliance.