Pro Forma Financial Covenant Compliance means, as of any date of determination, with respect to any transaction to occur on such date, (a) the Current Ratio, determined as of the last day of the most recently ended Fiscal Quarter for which financial statements have been delivered or are required to have been delivered pursuant to Section 5.01, after giving effect to such transaction, is not less than the required amount set forth in Section 6.04(a); and (b) the Total Net Leverage Ratio, determined as of the last day of the most recently ended Fiscal Quarter for which financial statements have been delivered or are required to have been delivered pursuant to Section 5.01, after giving effect to such transaction as if such transaction had occurred on the first day of the applicable measurement period, is not greater than the required amount set forth in Section 6.04(b).
Pro Forma Financial Covenant Compliance means, with respect to the incurrence of any Indebtedness pursuant to Section 6.01(h) or 6.01(i), that the Borrower shall be in pro forma compliance with each of the covenants set forth in Sections 6.12, 6.13, 6.14 and 6.15 (calculated as if such Indebtedness had been incurred at the beginning of the relevant four consecutive fiscal quarter period and, if such Indebtedness has a floating rate, calculated based on an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination).
Pro Forma Financial Covenant Compliance means, as of any date of determination, with respect to any transaction to occur on such date, (a) the Interest Coverage Ratio, determined as of the last day of the most recently ended Fiscal Quarter for which financial statements have been delivered or are required to have been delivered pursuant to Section 5.01, after giving effect to such transaction as if such transaction had occurred on the first day of the applicable measurement period, is not less than the required amount set forth in Section 6.04(b); (b) Liquidity, determined as of such date after giving effect to such transaction, will be at least equal to the Minimum Liquidity Amount as of such date; and (c) the Collateral Coverage Ratio, determined as of such date after giving effect to such transaction, will be at least equal to 1.50 to 1.00.
Examples of Pro Forma Financial Covenant Compliance in a sentence
CERTAIN DEFINITIONS 1.1 Certain Definitions 1 1.2 Construction 41 1.3 Accounting Principles 42 1.4 Valuations 43 1.5 Pro Forma Financial Covenant Compliance 43 2.
CERTAIN DEFINITIONS 1 1.1 Certain Definitions Construction Accounting Principles Valuations Letter of Credit Amounts Pro Forma Financial Covenant Compliance Interest Rates 1 1.2 63 1.3 64 1.4 64 1.5 65 1.6 65 1.7 65 2.
CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction/Calculations 65 1.3 Accounting Principles 66 1.4 Valuations 67 1.5 Letter of Credit Amounts 67 1.6 Pro Forma Financial Covenant Compliance 67 1.7 Interest Rates 68 2.
CERTAIN DEFINITIONS 1 1.1 Certain Definitions 1 1.2 Construction/Calculations 68 1.3 Accounting Principles 69 1.4 Valuations 70 1.5 Letter of Credit Amounts 70 1.6 Pro Forma Financial Covenant Compliance 70 1.7 Interest Rates 71 2.
More Definitions of Pro Forma Financial Covenant Compliance
Pro Forma Financial Covenant Compliance means, as of any date of determination, with respect to any transaction to occur on such date, (a) the Current Ratio, determined as of the last day
Pro Forma Financial Covenant Compliance means, with respect to the incurrence of either any Permitted Subordinated Debt or any Cash Paid Preferred, in each case pursuant to Section 6.01(l), that the Borrower shall be in pro forma compliance with each of the covenants set forth in
Pro Forma Financial Covenant Compliance means, as of any date of determination, with respect to any transaction to occur on such date, (a) the Interest Coverage Ratio, determined as of the last day of the most recently ended Fiscal Quarter for which financial statements have been delivered or are required to have been delivered pursuant to Section 5.01, after giving effect to such transaction as if such transaction had occurred on the first day of the applicable measurement period, is not less than the required amount set forth in Section 6.04(b); and (b) Liquidity, determined as of such date after giving effect to such transaction, will be at least equal to the Minimum Liquidity Amount as of such date.
Pro Forma Financial Covenant Compliance in Section 1.01 of the Credit Agreement shall be amended by inserting “or the Specified Convertible Preferred” immediately following the words “Cash-Pay Preferred”.
Pro Forma Financial Covenant Compliance means, as of the date of any applicable Credit Event (“Credit Event Date”), and based on estimates and projections that the Borrowers’ Agent then believes, in good faith and consistent with past practices, to be reasonable and appropriate, that the Borrowers would be in compliance with the Leverage Ratio in Section 6.1 and the Fixed Charge Coverage Ratio in Section 6.2 applicable on that Credit Event Date (or, if that Credit Event Date is not also the last day of a Fiscal Quarter, applicable on the Fiscal Quarter end date immediately following that Credit Event Date) if the Leverage Ratio and Fixed Charge Coverage Ratio were to apply for that Fiscal Quarter. The four Fiscal Quarter period to be tested in this circumstance consists of: (i) the then-existing Fiscal Quarter (pro forma results); (ii) the immediately preceding Fiscal Quarter (actual results, if the financial statements for such Fiscal Quarter have been delivered in accordance with Section 5.1(b); otherwise estimated results); and (iii) the two Fiscal Quarters immediately preceding the Fiscal Quarter described in clause (ii) (actual results). Although Pro Forma Financial Covenant Compliance is a condition to credit events under Section 3.2, Borrowers’ Agent shall not be required to provide a copy of its calculation to the Administrative Agent; nor shall such compliance be reviewed as part of the annual certification required under Section 5.1(d).
Pro Forma Financial Covenant Compliance means, as of any date of determination, the compliance of Company with the financial covenants set forth in subsection 7.6 as of the last day of the four Fiscal Quarter period most recently ended prior to such date of
Pro Forma Financial Covenant Compliance means, with respect to the incurrence of any Indebtedness pursuant to Section 2.24(a), 6.01(h), 6.01(i), or 6.01(j) and the payment of any cash dividends in respect of any Cash-Pay Preferred pursuant to Section 6.09(b)(ii), that the Borrower shall be in pro forma compliance with each of the covenants set forth in Sections 6.12, 6.13, 6.14 and 6.15 (calculated, where applicable, as if such Indebtedness had been incurred at the beginning of the relevant four consecutive fiscal quarter period and, if such Indebtedness has a floating rate, calculated based on an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination).