Revenue Concentration Limit Sample Clauses

Revenue Concentration Limit. No more than 25% of Borrower’s annual operating lease revenue may be from any one Lessee nor may more than 42% through the fiscal quarter ended September 30, 2019 and 40% for each fiscal quarter ended December 31, 2019 and thereafter of Borrower’s annual operating lease revenue be from any two Lessees, calculated on a twelve month trailing basis; provided, however, that for purposes of calculating compliance with this section, the operating lease revenue attributable to Eligible Assets acquired but not subject to a Lease for one full year and included in Borrower’s total annual operating lease revenue shall be deemed to be the product of (x) the monthly rental set forth in such Lease multiplied by (y) twelve (12).** Operating lease revenue for this Section 6.15.9 shall include rents under finance leases as if they are accounted for as operating leases. Revenue Concentration from One Lessee equals:

Revenue Concentration Limit. Borrower shall have (i) no more than twenty-five percent (25%) of Borrower’s annual operating lease revenue (excluding maintenance reserves) from any one (1) Lessee nor (ii) more than forty-two percent (42%) of Borrower’s annual operating lease revenue (excluding maintenance reserves) from any two (2) Lessees through the Fiscal Quarter ended September 30, 2019, and forty percent (40%) of Borrower’s annual operating lease revenue (excluding maintenance reserves) from any two (2) Lessees for each Fiscal Quarter ended December 31, 2019 and thereafter, each calculated on a twelve (12) month trailing basis. For purposes of this Section 6.15.9, operating lease revenue shall include “Proforma Revenue” for Eligible Assets that have been subject to a Lease for less than a full calendar year, calculated until a full calendar year has elapsed after the date such Eligible Asset is pledged as Collateral as the product of (x) monthly GAAP rent for the mid-period acquisitions multiplied by (y) 12 minus the number of months the Eligible Asset has been subject to a Lease in the trailing twelve month period for such Eligible Asset. Operating lease revenue for this Section 6.15.9 shall include rents under finance leases as if they are accounted for as operating leases, consistent with current practice.

Revenue Concentration Limit. No more than 25% of Borrower's annual operating lease revenue may be from any one Lessee nor may more than 40% of Borrower's annual operating lease revenue be from any two Lessees, calculated on a twelve month trailing basis; provided, however, that until a full calendar year has elapsed after the date of the Equipment Owner's pledge into the Collateral of an Aircraft subject to a Republic Lease, for purposes of calculating compliance with this section, the operating lease revenue attributable to Republic Airline Inc., as Lessee, under such Republic Lease and included in Borrower's total annual operating lease revenue shall be deemed to be the product of (x) the monthly rental set forth in such Republic Lease multiplied by (y) twelve (12).** Revenue Concentration from One Lessee equals: (i) Borrower's annual operating lease revenue (excluding maintenance reserves) from largest grossing Lessee $ (ii) divided by total annual operating lease revenue (excluding maintenance reserves) $ Revenue Concentration from Two Lessees equals: (i) Borrower's annual operating lease revenue (excluding maintenance reserves) from two largest grossing Lessees $ (ii) divided by total annual operating lease revenue (excluding maintenance reserves) $ ** Enclosed herewith is the revenue concentration calculation for each Lessee 8. A review of the activities of Borrower during the fiscal period covered by this Certificate has been made under the supervision of the undersigned with a view to determining whether during such fiscal period Borrower performed and observed all of its Obligations. To the best knowledge of the undersigned, during the fiscal period covered by this Certificate, all covenants and conditions have been so performed and observed and no Default or Event of Default has occurred and is continuing, with the exceptions set forth below in response to which Borrower has taken or proposes to take the following actions (if none, so state). 9. The undersigned a Senior Officer of Borrower certifies that the calculations made and the information contained herein are derived from the books and records of Borrower, as applicable, and that each and every matter contained herein correctly reflects those books and records. 10. To the best knowledge of the undersigned no event or circumstance has occurred that constitutes a Material Adverse Effect since the date the most recent Compliance Certificate was executed and delivered, with the exceptions set forth below (if none, so stat...