Limitation on rectification Sample Clauses

Limitation on rectification. (a) The Borrower may not exercise its right (the “Right of Cure”) under Clause 21.2 (Rectification) to satisfy any Unsatisfied Financial Covenant in respect of any Relevant Period if: (i) it has exercised the Right of Cure in respect of two earlier Relevant Periods; and (ii) those two Relevant Periods end on any two consecutive Relevant Dates (the later of the two consecutive Relevant Dates being the “Reference Date”). (b) The limitation in paragraph (a) shall cease to apply if the Borrower has complied with the financial covenants set out in paragraphs (a) and (b) of Clause 21.1 (Financial covenants) for any Relevant Period ending on a Relevant Date falling after the Reference Date, without taking into consideration the Rectification Amounts (if any) made in respect of any Accounting Quarter falling within that Relevant Period.