Testing of Financial Covenants. (a) Each of the financial covenants set out in Clauses 17.3 to 17.8 (inclusive) shall be tested by reference to each rolling twelve (12) month Measurement Period, provided always that the Interest and Principal Coverage Ratio referred to in Clause 17.7 shall be tested on the basis of the financial statements of the Borrower for the last fiscal quarter of the Borrower in the event of the occurrence of the circumstances set out in Clause 17.8.
Appears in 5 contracts
Samples: Agreement, Agreement (Seaspan CORP), Agreement (Seaspan CORP)
Testing of Financial Covenants. (a) Each of the financial covenants set out in Clauses 17.3 to 17.8 17.7 (inclusive) shall be tested by reference to each rolling twelve (12) month Measurement Period, provided always that the Interest and Principal Coverage Ratio referred to in Clause 17.7 shall be tested on the basis of the financial statements of the Borrower for the last fiscal quarter of the Borrower in the event of the occurrence of the circumstances set out in Clause 17.816.25(d) (Termination of Time Charter).
Appears in 2 contracts
Samples: Credit Agreement (Seaspan CORP), Agreement (Seaspan CORP)
Testing of Financial Covenants. (a) Each of the financial covenants set out in Clauses 17.3 to 17.8 (inclusive) shall be tested by reference to each rolling twelve (12) month Measurement Period, provided always that the Interest and Principal Coverage Ratio referred to in Clause 17.7 shall be tested on the basis of the financial statements of the Borrower Guarantor for the last fiscal quarter of the Borrower Guarantor in the event of the occurrence of the circumstances set out in Clause 17.8.
Appears in 1 contract
Samples: Agreement (Seaspan CORP)
