Common use of Pro Forma Financial Covenant Compliance Clause in Contracts

Pro Forma Financial Covenant Compliance. Whenever compliance with a Financial Covenant is required to be made on a Pro Forma Basis for determining the permissibility of any action, or the level of such Financial Covenant is used in reference to a test or covenant hereunder (but not, for the avoidance of doubt, for the purposes of determining actual compliance with Section 8.2.13 [Financial Covenants]), if such compliance is required prior to a date on which a Financial Covenant in Section 8.2.13 [Financial Covenants] is in effect, the level for such Financial Covenant when it is first in effect shall be used in determining such compliance or whether such test or covenant is satisfied.