Consolidated Duration of Deposit Releases Sample Clauses

Consolidated Duration of Deposit Releases. The Company agrees that the Escrow Agent may reduce the costs and burdens of these accounts by making one (1) “Duration of Deposit” release, under subdivision (B)(ii)(d) of Section 5 of this Escrow Agreement, for each Beneficiary State during each calendar year. Under this subdivision, for each Beneficiary State, the consolidated release may occur twenty-five years after the last Deposit Date by the Company for each calendar year. For example, if the Company made deposits into a California subaccount on June 1, 2018 and November 1, 2018, the Escrow Agent may retain funds eligible for release on June 1, 2043, until November 1, 2043. This
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Consolidated Duration of Deposit Releases. The Company agrees that the Escrow Agent may reduce the costs and burdens of these accounts by making one (1) “Duration of Deposit” release, under subdivision (B)(ii)(d) of Section 5 of this Escrow Agreement, for each Beneficiary State during each calendar year. Under this subdivision, for each Beneficiary State, the consolidated release may occur twenty-five years after the last Deposit Date by the Company for each calendar year. For example, if the Company made deposits into a California subaccount on June 1, 2018 and November 1, 2018, the Escrow Agent may retain funds eligible for release on June 1, 2043, until November 1, 2043. This subdivision shall never be interpreted or construed to permit any “Duration of Deposit” releases under subdivision (B)(ii)(d) of Section 5 of this Escrow Agreement before twenty-five years have passed since the Deposit Date. The Escrow Agent may exercise this subdivision by providing written notice to the Company and Beneficiary State(s) pursuant to Section 6. A. Written notice required by this Escrow Agreement shall be deemed sufficient and adequate if sent to the address(es) of the Company, Escrow Agent, or the applicable Beneficiary State(s) below in the manner provided under this section. All notices required by this Escrow Agreement shall be in writing and shall be deemed to have been received (i) immediately if sent by electronic mail transmission (with a confirming copy sent the same business day by registered or certified mail) or by hand delivery (with signed return receipt); (ii) the next business day if sent by a nationally recognized overnight courier; or (iii) five (5) business days after sent by U.S. Mail: i. To the Company: ii. To the Escrow Agent: iii. To the Beneficiary State(s), to the Attorney General Offices of all Beneficiary States as shown on Attachment A to the Escrow Agreement and incorporated herein by reference. B. If the Company, Escrow Agent, or a Beneficiary State changes its address for notices required by this Escrow Agreement, that entity shall immediately notify the other undersigned parties and the Beneficiary States of that change and promptly amend this Escrow Agreement to effectuate the change.
Sample 1
Consolidated Duration of Deposit Releases. The Company agrees that the Escrow Agent may reduce the costs and burdens of these accounts by making one (1) “Duration of Deposit” release, under subdivision (B)(ii)(d) of Section 5 of this Escrow Agreement, for each Beneficiary State during each calendar year. Under this subdivision, for each Beneficiary State, the consolidated release may occur twenty-five years after the last Deposit Date by the Company for each calendar year. For example, if the Company made deposits into a California subaccount on June 1, 2018 and November 1, 2018, the Escrow Agent may retain funds eligible for release on June 1, 2043, until November 1, 2043. This subdivision shall never be interpreted or construed to permit any “Duration of Deposit” releases under subdivision (B)(ii)(d) of Section 5 of this Escrow Agreement before twenty-five years have passed since the Deposit Date. The Escrow Agent may exercise this subdivision by providing written notice to the Company and Beneficiary State(s) pursuant to Section 6.
Sample 1

Related to Consolidated Duration of Deposit Releases

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Consolidated Senior Leverage Ratio Permit the Consolidated Senior Leverage Ratio as at the last day of any fiscal quarter of the Borrower Parent (i) occurring on or before March 31, 2015, to exceed 2.50:1.00; (ii) occurring thereafter, to exceed 2.00:1.00.

  • Maximum Senior Leverage Ratio Permit the Senior Leverage Ratio on the last day of any fiscal quarter during any period set forth below to be greater than the ratio set forth opposite such date or period below: PERIOD RATIO ------ ----- September 30, 2001 2.50:1.0 December 31, 2001 2.00:1.0 March 31, 2002 through June 30, 2002 2.50:1.0 September 30, 2002 2.00:1.0 December 31, 2002 1.50:1.0 March 31, 2003 through June 30, 2003 2.00:1.0 PERIOD RATIO ------ ----- September 30, 2003 1.50:1.0 December 31, 2003 and thereafter 1.25:1.0

  • Minimum Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.5 to 1.0.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

  • Quarterly Portfolio of Investments Services Subject to the receipt of all Required Data, and as a component of the Services, the Administrator will use such Required Data from each Trust, State Street’s internal systems, and other data providers to prepare a draft portfolio of investments (the “Portfolio of Investments”), compliant with GAAP, as of each Trusts’ first and third fiscal quarter-ends. · Each Trust acknowledges and agrees that it will be responsible for (i) reviewing and approving each such Portfolio of Investments, (ii) incorporating such information into such Trust’s filing mechanism, (iii) attaching each of its Portfolio of Investments to its first and third fiscal quarter-end N-PORT filings, and (iv) submitting such Portfolios of Investments as part of such N-PORT filings electronically to the SEC.

  • Consolidated Senior Secured Leverage Ratio Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower (beginning with the fiscal quarter ended September 30, 2018) to be greater than (A) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at all other times, 3.50 to 1.00.

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