Common use of Restatement of Ratio Clause in Contracts

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the Trust’s financial results having to be restated or if the Trust’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

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Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results or ratios that are subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results or ratios were inaccurately reflected in the original financial results on Financial Statements upon which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Total Debt to Adjusted EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees issuance fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Total Debt to Adjusted EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are is subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the Pricing Ratio that was originally reported Consolidated Senior Debt to EBITDA Ratio was lower (and the corresponding Level in the Pricing Table was lower) than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Letter of Credit Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Pricing Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Energy Ltd.)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the Trust’s Borrower's financial results having to be restated or if the Trust’s Borrower's financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Net Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Net Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (ENERPLUS Corp)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the Trust’s 's financial results having to be restated or if the Trust’s 's financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are is subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the Pricing Ratio that was originally reported Consolidated Senior Debt to EBITDA Ratio was lower (and the corresponding Level in the Pricing Table was lower) than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping feesBA Stamping Fees, Issuance Letter of Credit Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Pricing Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Energy Ltd.)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the Trust’s Borrower's financial results having to be restated or if the Trust’s Borrower's financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Net Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees interest that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Net Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Term Credit Agreement (ENERPLUS Corp)

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Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are is subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was lower (and the corresponding Level in the Pricing Table was lower) than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping feesBA Stamping Fees, Issuance Letter of Credit Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.instance.‌

Appears in 1 contract

Samples: Credit Agreement

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the Trust’s Borrower's financial results having to be restated or if the Trust’s Borrower's financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (ENERPLUS Corp)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was lower than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Fees and standby fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Credit Agreement (Penn West Petroleum Ltd.)

Restatement of Ratio. If the Borrower has delivered a Compliance Certificate certifying financial results that are is subsequently found to be inaccurate in any way as a result of the TrustBorrower’s financial results having to be restated or if the TrustBorrower’s financial results were inaccurately reflected in the original financial results on which such Compliance Certificate was based or for any other reason and the result thereof is that the reported Consolidated Senior Debt to EBITDA Ratio was originally reported as lower (and the corresponding Level in the Applicable Pricing Margin was lower) than it otherwise would have been in the absence of such inaccuracy or prior to such restatement, then the Borrower will, immediately upon the correction of such inaccuracy or upon such restatement, pay to the Agent for the benefit of the applicable Lenders an amount equal to the interest, stamping fees, Issuance Stamping Fees in respect of Bankers’ Acceptances Advances and standby fees Standby Fees that the Lenders should have received, but did not receive, over the applicable period had the originally reported Consolidated Senior Debt to EBITDA Ratio, and the underlying components thereof, been reported correctly in the first instance.

Appears in 1 contract

Samples: Syndicated Credit Agreement (Advantage Oil & Gas Ltd.)

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