Debt-to-Equity Ratio; Annual and Quarterly Financial Statements Sample Clauses

Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than thirty percent (30%). Annually on March 1st, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within thirty (30) days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than thirty (30) percent, then within sixty (60) days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than thirty percent (30%) or (b) increase the amount of the Default Security by an amount equal to one percent (1%) (or pro rata portion thereof) of the then-current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below thirty percent (30%). PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, “Facility Equity” means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases “percentage of Facility Equity” or “Facility Equity percentage” means the ratio, expressed as a percentage, of the Facility Equity to the sum of (x) all indebtedness outstanding to third parties and (y) the amount of Facility Equity. Seller shall not grant a security interest to any third party in the Facility or any of its assets to support the obligations of any entity other than Seller or its Affiliates, or any obligations of Seller or its Affiliates other than obligations that relate directly to the Facility or Seller's or its Affiliates' other solar energy facilities. Without limiting the foregoing, Xxxxxx agrees to cause the contribution of Facility Equity whenever such contribution is required under Seller's and Seller's Affiliates agreements with Lenders.
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Debt-to-Equity Ratio; Annual and Quarterly Financial Statements. Seller shall at all times during the Term, following the Commercial Operation Date, maintain the percentage of Facility Equity (as defined below) at no less than 30 percent. Annually on March 1, commencing after the Commercial Operation Date, Seller shall provide to PacifiCorp a certificate of Seller's Chief Financial Officer attesting to the maintenance of such Facility Equity percentage and the Facility's then-current Book Value. If requested by PacifiCorp from time to time, Seller shall within 30 days provide PacifiCorp with copies of its most recent annual and quarterly financial statements and statement of the Facility's then-current Book Value. If, as of any such reporting date, the Facility Equity percentage is less than 30 percent, then within 60 days after such reporting date, Seller, in its discretion, will either (a) take the necessary action to cause the percentage of Facility Equity to be no less than 30 percent or (b) increase the amount of the Default Security by an amount equal to 1 percent (or pro rata portion thereof) of the then- current Book Value of the Facility for each percentage (or pro rata portion thereof) that Facility Equity falls below 30 percent. PacifiCorp, in its sole discretion, may require that any required increase to the Default Security be provided in a form of Letter of Credit or cash, by providing written notice to Seller. For purposes of this section, "Facility Equity" means the aggregate amount, as of the Commercial Operation Date, of equity investment in the Facility by any owner, investor, or other party. The phrases "percentage of Facility Equity" or "Facility Equity percentage" means the ratio, expressed as a percentage, of the Facility Equity to the sum of
Sample 1

Related to Debt-to-Equity Ratio; Annual and Quarterly Financial Statements

  • Quarterly Financial Statements As soon as available and in any event within 5 days after the date on which such financial statements are required to be filed with the SEC (after giving effect to any permitted extensions) with respect to each of the first three quarterly accounting periods in each fiscal year of the Borrower (or, if such financial statements are not required to be filed with the SEC, on or before the date that is 45 days after the end of each such quarterly accounting period), the consolidated balance sheets of the Borrower and the Subsidiaries and, if different, the Borrower and the Restricted Subsidiaries, in each case as at the end of such quarterly period and the related consolidated statements of operations for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and the related consolidated statement of cash flows for such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and setting forth comparative consolidated figures for the related periods in the prior fiscal year or, in the case of such consolidated balance sheet, for the last day of the prior fiscal year (or, in lieu of such unaudited financial statements of the Borrower and the Restricted Subsidiaries, a detailed reconciliation reflecting such financial information for the Borrower and the Restricted Subsidiaries, on the one hand, and the Borrower and the Subsidiaries, on the other hand), all of which shall be certified by an Authorized Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject to changes resulting from audit and normal year end audit adjustments.

  • Annual Financial Statements Within 90 days after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, 2011, (i) the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year commencing with the first Fiscal Year for which such corresponding figures are available, all in reasonable detail, together with a Financial Officer Certification and a Narrative Report with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon by an independent certified public accountant (or accountants) of recognized national standing selected by Borrower, and reasonably satisfactory to Administrative Agent (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards) together with a written statement by such independent certified public accountants stating (1) that their audit examination has included a review of the terms of Section 6.7 of this Agreement and the related definitions, (2) whether, in connection therewith, any condition or event that constitutes a Default or an Event of Default under Section 6.7 has come to their attention and, if such a condition or event has come to their attention, specifying the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that the information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate are not stated in accordance with the terms hereof (which statement may be limited to the extent required by accounting rules or guidelines);

  • Quarterly Financial Reports The School shall prepare and submit quarterly financial reports to the Commission within 45 days of the end of each fiscal year quarter.

  • Audited Financial Statements The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations, cash flows and changes in shareholder’s equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.

  • quarters At the end of each quarter, the Employer may payout any unused overtime down to seventy-five (75) hours.

  • Leverage Ratio The Borrower will not permit the Leverage Ratio to exceed 4.50 to 1.0 on the last day of any Fiscal Quarter.

  • FINANCIAL STATEMENTS TO OWNER The Agent shall render statements of receipts, expenses, and other charges for the Property as requested by the Owner with no more than one (1) statement per month.

  • Quarterly and Annual Reconciliation 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 days to take into account the Energy Accounts, Tariff adjustment payments, Tariff Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement.

  • Financial Statements Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:

  • Debt Service Coverage Ratio Borrower shall maintain as of the last day of any fiscal quarter a Debt Service Coverage Ratio of not less than 1.25 to 1.00 for the period of four consecutive fiscal quarters then ended on such day.

Time is Money Join Law Insider Premium to draft better contracts faster.