Margin Certificate definition

Margin Certificate is a certificate, substantially in the form of Schedule 7 (Form of Margin Certificate), setting out the calculations for determining an adjustable Margin pursuant to Subclause 12.3 (Margin Adjustments) as at the relevant date.

Margin Certificate shall have the meaning given to such term in Section 8.3(l) of the Participation Agreement.

Margin Certificate means a certificate substantially in the form set out in Schedule 13 (Form of Margin Certificate).

Examples of Margin Certificate in a sentence

• By the 20th day after the end of each fiscal quarter (commencing with the fiscal quarter ending June 30, 2012), the Borrowers shall deliver (i) to the Administrative Agent an Applicable Margin Certificate setting forth a calculation of the Average Availability for the fiscal quarter most recently ended and the corresponding Applicable Margins, and (ii) updates, if any, to Schedule O to the Collateral Questionnaire to reflect all locations of Inventory at the end of the fiscal quarter then ended.

• Such Margin Certificate shall include an exhibit that fully sets forth Operator’s calculation of its Actual Margin and certify to the accuracy of the Actual Margin.

• If, in this event, any amount of interest has been paid by a Borrower on the basis of the Margin Certificate, that Borrower must immediately pay to the Facility Agent any shortfall in that amount as compared to that which would have been paid to the Lenders if the Margin had been calculated by reference to the relevant management Accounts (or audited Accounts).

• Failure to deliver such Applicable Margin Certificate within five (5) days of the date such certificate is required to be delivered pursuant to Section 7.1(a)(iii) shall, in addition to any other remedy provided for in this Agreement, result in an increase in the rates in the Letter of Credit Fees to the highest level set forth in the foregoing grid, until the delivery of the Applicable Margin Certificate demonstrating that such an increase is not required.

• If any Applicable Margin Certificate referred to above is not delivered within the time periods specified above, then the Consolidated Indebtedness Ratio as at the end of the fiscal period that would have been covered thereby shall for the purposes of this definition be deemed to be greater than 4.0 to 1.0. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Pricing Grid shall apply.

More Definitions of Margin Certificate

Margin Certificate means a certificate substantially in the form of Schedule 5.

Margin Certificate means a certificate in the form of Exhibit 3;

Margin Certificate has the meaning given to that term in Clause 10.5(c) (Calculation of Margin and utilisation fee).

Margin Certificate has the meaning given to that term in Clause 11.5(c) (Calculation of Margin).

Margin Certificate means a certificate, substantially in the form of Schedule 9 (Form of Margin Certificate). Material Adverse Effect means any effect or circumstance:

Margin Certificate means a certificate substantially in the form of Schedule 8.

Margin Certificate means the certificate with respect to the ratio used to ------------------ calculate the Margin, provided to the Administrative Agent by Citation on behalf of itself and the other Borrowers on a quarterly basis pursuant to Section 5.1(c)(6).