Examples of Financial Quarter Date in a sentence
If the Restricted Payment Condition was not satisfied as at any Financial Quarter Date but is subsequently satisfied on any following Financial Quarter Date, an Obligor may make a Restricted Payment in the following Financial Quarter but only to the extent the Further Restricted Payment Maximum would not be less than zero following the making of such Restricted Payment until the Restricted Payment Condition has been satisfied on eight consecutive Financial Quarter Dates.
These covenants will provide that: (a) Net Worth Covenant: the Net Worth of the Securitisation Group in aggregate as at the end of each Financial Year shall be equal to or greater than £90 million (the “Net Worth Covenant”); and (b) FCF DSCR Covenant: the Free Cashflow DSCR of the Securitisation Group shall not, on any Financial Quarter Date, in respect of the most recent Relevant Period or the most recent Relevant Year be less than 1.1:1 (the “FCF DSCR Covenant” or the “Debt Service Covenant”).
Free Cashflow for the Relevant Period or, as the case may be, the Relevant Year ending on such Financial Quarter Date to (b) Debt Service for the Relevant Period or, as the case may be, the Relevant Year, ending on such Financial Quarter Date.
If the Restricted Payment Condition was not satisfied as at any Financial Quarter Date but is subsequently satisfied on any following Financial Quarter Date, an Obligor may make a Restricted Payment in the following Financial Quarter but only to the extent the Further Restricted Payment Maximum would not be less than zero following the making of such Restricted Payment until the Restricted Payment Condition has been satisfied on six consecutive Financial Quarter Dates.
FCF DSCR Covenant: the Free Cashflow DSCR of the Borrowers shall not, on any Financial Quarter Date, in respect of the most recent Relevant Period or the most recent Relevant Year be less than 1.10:1 (the " FCF DSCR" or the "Debt Service Covenant").