Quarter definition
Examples of Quarter in a sentence
The accrual of any Leverage Step-Up Fee for each Note shall take effect retroactively as of the first day of the Quarter in which the Officer’s Certificate is delivered in accordance with Section 7.2 reflecting the Total Net Debt/Consolidated EBITDA Ratio in respect of the most recently completed Test Period being greater than 3.50:1 (the “Leverage Step-Up Date”).
The termination of any Leverage Step-Up Fee for each Note shall take effect retroactively as of the first day of the Quarter in which the Leverage Compliance Certificate is delivered to the holders of the Notes.
Subject to the satisfaction or waiver by Seller and the Company of the conditions set forth in Article 6, each closing of the purchase and sale of the Acquired Shares hereunder shall take place automatically on the third Business Day before the end of the calendar quarter immediately following each Applicable Quarter.
Biodexa’s payment of royalties due pursuant to Section 5.3 shall be due at the same time as the reporting covering the period in which the Net Sales were accrued, as provided in Section 5.6 (i.e., the end of the month next following the Calendar Quarter in which the Net Sales were accrued).
Within five Business Days after the end of each Applicable Quarter, the Company shall deliver to Seller a notice (each, a “Closing Notice”) setting forth (i) the number of Acquired Shares to be purchased by the Company from Seller pursuant to Section 2.1, (ii) the Purchase Price and (iii) details of the calculation of the Purchase Price sufficient to allow Seller to reproduce the calculation of the Purchase Price.