Common use of Rules of Construction for Determination of Ratios Clause in Contracts

Rules of Construction for Determination of Ratios. The Ratios as of the last day of the Settlement Period immediately preceding the Closing Date shall be set forth by the Administrative Agent on or prior to the Closing Date and the underlying calculations for periods immediately preceding the Closing Date to be used in future calculations of the Ratios shall be established by the Administrative Agent on or prior to the Closing Date in accordance with the form of Monthly Report attached on Exhibit 5.01(a)(iv)(C). For purposes of calculating the Ratios, (i) averages shall be computed by rounding to the third decimal place and (ii) the Settlement Period in which the date of determination thereof occurs shall not be included in the computation thereof and the first Settlement Period immediately preceding such date of determination shall be deemed to be the Settlement Period immediately preceding the Settlement Period in which such date of determination occurs.

Appears in 2 contracts

Samples: Receivables Transfer Agreement (Metaldyne Corp), Receivables Transfer Agreement (Metaldyne Corp)

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Rules of Construction for Determination of Ratios. The Ratios as ------------------------------------------------- of the last day of the Settlement Period immediately preceding the Closing Date shall be set forth established by the Administrative Operating Agent on or prior to the Closing Date and the underlying calculations for periods immediately preceding the Closing Date to be used in future calculations of the Ratios shall be established by the Administrative Operating Agent on or prior to the Closing Date in accordance with the form of Monthly Report Schedule 1 ---------- attached on Exhibit 5.01(a)(iv)(C). to this Annex X. For purposes of calculating the Ratios, (i) averages ------- shall be computed by rounding to the third decimal place and (ii) the Settlement Period in which the date of determination thereof occurs shall not be included in the computation thereof and the first Settlement Period immediately preceding such date of determination shall be deemed to be the Settlement Period immediately preceding the Settlement Period in which such date of determination occurs.

Appears in 1 contract

Samples: Receivables Transfer Agreement (Callaway Golf Co /Ca)

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Rules of Construction for Determination of Ratios. The Ratios as of the last day of the Settlement Period immediately preceding the Closing Date shall be set forth established by the Administrative Agent on or prior to the Closing Date and the underlying calculations for periods immediately preceding the Closing Date to be used in future calculations of the Ratios shall be established by the Administrative Agent on or prior to the Closing Date in accordance with the form of Monthly Report SCHEDULE 1 attached on Exhibit 5.01(a)(iv)(C). to this ANNEX X. For purposes of calculating the Ratios, (i) averages shall be computed by rounding to the third decimal place and (ii) the Settlement Period in which the date of determination thereof occurs shall not be included in the computation thereof and the first Settlement Period immediately preceding such date of determination shall be deemed to be the Settlement Period immediately preceding the Settlement Period in which such date of determination occurs.

Appears in 1 contract

Samples: Receivables Sale Agreement (Daisy Parts Inc)

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