Solvency Certificate; Leverage Ratio Certificate Sample Clauses

Solvency Certificate; Leverage Ratio Certificate. On or prior to the Restatement Effective Date, the Administrative Agent shall have received (and be reasonably satisfied with): (a) a solvency certificate from the chief financial officer or treasurer of the Borrower, in the form of Exhibit H, which shall be addressed to the Agents and the Lenders and dated the Restatement Effective Date, setting forth the conclusions that, after giving effect to the Transaction and the incurrence of all of the financings contemplated hereby, each of the Borrower and the Borrower and its Subsidiaries taken as a whole, is or are not insolvent and will not be rendered insolvent by the indebtedness incurred in connection therewith, will not be left with unreasonably small capital with which to engage in its or their business and will not have incurred debts beyond its or their ability to pay such debts as they mature; and (b) a certificate from the chief financial officer of the Borrower in form and substance reasonably satisfactory to the Administrative Agent, which shall be addressed to the Agents and the Lenders and dated the Restatement Effective Date, setting forth the Leverage Ratio as of the Restatement Effective Date together with such calculations as are reasonably required by the Administrative Agent in support thereof.
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Solvency Certificate; Leverage Ratio Certificate. On or before the Effective Date, the Administrative Agent shall have received: (a) a solvency certificate from the chief financial officer or treasurer of the Borrower, in the form of Exhibit H, which shall be addressed to the Agents and the Lenders and dated the Effective Date, setting forth the conclusions that, after giving effect to the Transaction on the Effective Date and the incurrence of the Term Loans and all other indebtedness incurred or to be incurred on the Effective Date, each of the Borrower and the Borrower and its Subsidiaries taken as a whole is or are not insolvent and will not be rendered insolvent by the indebtedness incurred in connection therewith, will not be left with unreasonably small capital with which to engage in its or their business and will not have incurred debts beyond its or their ability to pay such debts as they mature, and (b) a certificate from the chief financial officer of the Borrower in form and substance reasonably satisfactory to the Administrative Agent, which shall be addressed to the Agents and the Lenders and dated the Effective Date, setting forth the Leverage Ratio as of the Effective Date together with such calculations as are reasonably required by the Administrative Agent in support thereof, and such certificate shall demonstrate that, after giving effect to the Transaction on the Effective Date and the incurrence of the Term Loans and all other indebtedness incurred or to be incurred on the Effective Date, the Leverage Ratio, calculated on a pro forma basis, shall not exceed 3.75:1.00.
Sample 1
Solvency Certificate; Leverage Ratio Certificate. On or prior to the Restatement Effective Date, the Administrative Agent shall have received (and be reasonably satisfied with):
Sample 1
Solvency Certificate; Leverage Ratio Certificate. On or before the Borrowing Date, the Administrative Agent shall have received: (a) a solvency certificate from the chief financial officer or treasurer of the Borrower, in the form of Exhibit H, which shall be addressed to the Agents and the Lenders and dated the Borrowing Date, setting forth the conclusions that, after giving effect to the Transaction on the Borrowing Date and the incurrence of the Term Loans and all other indebtedness incurred or to be incurred on the Borrowing Date, each of the Borrower and the Borrower and its Subsidiaries taken as a whole is or are not insolvent and will not be rendered insolvent by the indebtedness incurred in connection therewith, will not be left with unreasonably small capital with which to engage in its or their business and will not have incurred debts beyond its or their ability to pay such debts as they mature, and (b) a certificate from the chief financial officer of the Borrower in form and substance reasonably satisfactory to the Administrative Agent, which shall be addressed to the Agents and the Lenders and dated the Borrowing Date, setting forth the Leverage Ratio as of the Borrowing Date together with such calculations as are reasonably required by the Administrative Agent in support thereof, and such certificate shall demonstrate that, after giving effect to the Transaction on the Borrowing Date and the incurrence of the Term Loans and all other indebtedness incurred or to be incurred on the Borrowing Date, the Leverage Ratio, calculated on a pro forma basis, shall not exceed 3.75:1.00.
Sample 1

Related to Solvency Certificate; Leverage Ratio Certificate

  • Solvency Certificate The Administrative Agent shall have received a Solvency Certificate from the chief financial officer or treasurer of the Borrower.

  • Solvency Certificates a certificate from each of the Issuer and the Guarantor as to its solvency.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Incumbency Certificates For each Credit Party, signature and incumbency certificates of the officers of each such Person executing any of the Loan Documents, certified as of the Closing Date by such Person's corporate secretary or an assistant secretary as being true, accurate, correct and complete.

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Incumbency Certificate An incumbency certificate of the corporate secretary of each of Seller, certifying the names, true signatures and titles of the representatives duly authorized to request transactions hereunder and to execute the Program Agreements.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Compliance Certificate (a) The Company and each Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers' Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. (b) So long as not contrary to the then current recommendations of the American Institute of Certified Public Accountants, the year-end financial statements delivered pursuant to Section 4.03(a) above shall be accompanied by a written statement of the Company's independent public accountants (who shall be a firm of established national reputation) that in making the examination necessary for certification of such financial statements, nothing has come to their attention that would lead them to believe that the Company has violated any provisions of Article 4 or Article 5 hereof or, if any such violation has occurred, specifying the nature and period of existence thereof, it being understood that such accountants shall not be liable directly or indirectly to any Person for any failure to obtain knowledge of any such violation. (c) The Company shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers' Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

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