Calculation Date. The term “CALCULATION DATE” means each of the dates upon which the APPLICABLE MARGINS are to be determined and adjusted, which adjustment shall be made quarterly on the date occurring five (5) BUSINESS DAYS after the date on which the LENDER receives the quarterly COMPLIANCE CERTIFICATE in accordance with the provisions of Section 2.1.2 of this AGREEMENT, or otherwise as required by the terms of this AGREEMENT.
Appears in 2 contracts
Samples: Loan and Security Agreement (Avatech Solutions Inc), Loan and Security Agreement (Avatech Solutions Inc)
Calculation Date. The term “CALCULATION DATE” means each of the dates upon which the APPLICABLE MARGINS PERCENTAGES are to be determined and adjusted, which adjustment shall be made quarterly at the end of each FISCAL QUARTER on the date occurring five (5) BUSINESS DAYS after the date on which the LENDER ADMINISTRATIVE AGENT receives the quarterly COMPLIANCE CERTIFICATE officer’s certificate in accordance with the provisions of Section 2.1.2 5.11.7 of this AGREEMENT, or otherwise as required by the terms of this AGREEMENT.
Appears in 2 contracts
Samples: Loan and Security Agreement (Martek Biosciences Corp), Loan and Security Agreement (Martek Biosciences Corp)
