Proforma Basis definition
Proforma Basis means the calculation of the Pre Distribution Fixed Charge Ratio over the required prior monthly period and with giving full effect to any contemplated Indebtedness and payments thereon as if the same had been incurred by Borrower on the first calendar day on which such required prior monthly period began.
Proforma Basis with respect to the covenants set forth in Section 8.1 on any date of determination, the calculation of such covenants as at such date of determination; provided that the amount of Consolidated EBITDA and Consolidated Fixed Charges in any such calculation shall be the amount of Consolidated EBITDA and Consolidated Fixed Charges for the most recent quarter.
Examples of Proforma Basis in a sentence
Borrower may incur Additional Debt on a date which is two (2) years after the Closing Date without the prior written consent of Lender if the Pre Distribution Fixed Charge Ratio of Borrower calculated on a Proforma Basis is not less than 1.30x.