Common use of Determination of Compliance Clause in Contracts

Determination of Compliance. Compliance with these financial covenants shall be determined by reference to the consolidated and consolidating financial statements of Borrower and its Subsidiaries delivered to the Bank in accordance with Section 8.08, and shall exclude any balance sheet information or results of operations of any Subsidiary which is not also a Guarantor. Except as set forth in 10.01, all financial covenants shall be applicable at all times and shall be tested at the end of each fiscal quarter.

Appears in 1 contract

Samples: Credit Agreement (Vicon Industries Inc /Ny/)

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Determination of Compliance. Compliance with these financial covenants shall be determined by reference to the consolidated and consolidating financial statements of Borrower and its Subsidiaries delivered to the Bank in accordance with Section 8.08, and shall exclude any balance sheet information or results of operations of any Subsidiary which is not also a Guarantor. Except as set forth in 10.01, all financial covenants shall be applicable at all times and shall be tested at based upon the end balance sheet information and the results of each fiscal quarteroperations for the period of 12 months preceding the date of determination.

Appears in 1 contract

Samples: Credit Agreement (Disc Graphics Inc /De/)

Determination of Compliance. Compliance with these financial covenants shall be determined by reference to the consolidated and consolidating financial statements of Borrower and its Subsidiaries delivered to the Bank in accordance with Section 8.08, and shall exclude any balance sheet information or results of operations of any Subsidiary which is not also a Guarantor. Except as set forth in 10.01, all financial covenants shall be applicable at all times and shall be tested at the end of each fiscal quarter8.

Appears in 1 contract

Samples: Credit Agreement (Disc Graphics Inc /De/)

Determination of Compliance. Compliance with these financial covenants shall be determined by reference to the consolidated and consolidating financial statements of Borrower and its Subsidiaries delivered to the Bank and the Agent in accordance with Section 8.08, and shall exclude any balance sheet information or results of operations of any Subsidiary which is not also a Guarantor. Except as set forth in 10.01, all All financial covenants shall be applicable at all times and shall be tested at based upon the end balance sheet information and the results of each fiscal quarteroperations for the period of 12 months preceding the date of determination.

Appears in 1 contract

Samples: Credit Agreement (Disc Graphics Inc /De/)

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Determination of Compliance. Compliance with these financial covenants shall be determined by reference to the consolidated and consolidating financial statements of Borrower calculated for Borrower and its Subsidiaries delivered to the Bank in accordance with Section 8.08, Lender and shall exclude any balance sheet information or results of operations of any Subsidiary which is not also a Guarantor. Except as set forth in 10.01, all All financial covenants shall be applicable at all times and shall be tested at the end of each fiscal quarterquarter except as set forth in paragraph 6(c)(1) above.

Appears in 1 contract

Samples: Loan Agreement (Vicon Industries Inc /Ny/)

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