Annual Determination Date definition
Examples of Annual Determination Date in a sentence
The Issuer will be required to deliver, or to cause the Manager to deliver, to the Indenture Trustee, the Back-up Manager and each Rating Agency on each Annual Determination Date an Officer's Certificate certifying the Midstream Asset Value.
A “PRF Triggering Event” shall have occurred if as of any Annual Determination Date, the Aggregate Debt Service Coverage Ratio (as reasonably determined by ▇▇▇▇▇▇ ▇▇▇ on a four (4) consecutive rolling quarter basis based on the financial statements delivered to ▇▇▇▇▇▇ Mae pursuant to Section 2.2(4) for the most recent four (4) complete fiscal quarters) falls below 1.25:1 (the “PRF Test”).
A “PRF Triggering Event” shall have occurred if as of any Annual Determination Date, the Aggregate Debt Service Coverage Ratio (as reasonably determined by ▇▇▇▇▇▇ Mae on a four (4) consecutive rolling quarter basis based on the financial statements delivered to ▇▇▇▇▇▇ ▇▇▇ pursuant to Section 9.03 for the most recent four (4) complete fiscal quarters) falls below 1.10:1 (the “PRF Test”).
For the period commencing on the Effective Date and continuing through the next Annual Determination Date, the annual management fee will be based on the value of the Initial Timberland Investment determined by the closing valuation ($200,000,000) and shall be equal to two percent (2%) of such amount, calculated on an annualized basis.
To the extent of an additional 83,333 Common Shares on or after the Annual Determination Date and on or before December 31, 2002 only in the event that the Company's Revenues equalled or exceeded $1,995,000 for the fiscal year 1999; and .
As used herein, the "Annual Determination Date" shall be on or before the date that is 60 days after the end of the applicable period, with respect to each Contingent Payment Report.
To the extent of an additional 83,334 Common Shares on or after the Annual Determination Date and on or before December 31, 2002 only in the event that the Company's Revenues equalled or exceeded $2,493,750 for the fiscal year 2000.
If ▇▇▇▇▇▇ ▇▇▇ or the Loan Servicer is not able to or does not perform the PRF Test on any Annual Determination Date because any Borrower failed to provide financial statements and other information on a timely basis in accordance with the terms of such Section 2.2(4), then a PRF Triggering Event shall be deemed to have occurred and ▇▇▇▇▇▇ Mae shall have the absolute right, in its discretion, to apply the funds in each Principal Reserve Funds in accordance with Section 8.2(2).
The Company's independent certified public accountants (the "Accountants") shall determine the Revenues on an annual basis as promptly as practicable at the end of each fiscal year of the Company (such date of determination is the "Annual Determination Date") in accordance with generally accepted accounting principles consistently applied.
To the extent of 83,333 Common Shares on or after the Annual Determination Date (as defined in section 3(c)) and on or before December 31, 2002 only in the event that the Company's Revenues (as defined in section 3(c)) equalled or exceeded $1,425,000 for the fiscal year 1998; .