Ratio Adjustment Period definition

Ratio Adjustment Period means the period commencing on the last day of the Covenant Relief Period and ending on the date which is the earliest of (i) the date the Borrower has delivered a notice (which notice shall certify that the requirements have been met to deliver such notice) to the Administrative Agent electing to terminate the Ratio Adjustment Period; provided that such notice cannot be provided sooner than the last day of the Restriction Period, (ii) the date the Borrower has delivered a notice to the Administrative Agent to effect the Security Release Date and (iii) April 1, 2023.
Sample 1
Ratio Adjustment Period means, the period commencing on the First Amendment Effective Date and ending on the date which is the date the Borrower Representative has delivered a Compliance Certificate pursuant to Section 5.09.5 for the Fiscal Quarter ending June 30, 2025 which contains calculations demonstrating that the Total Net Leverage Ratio is less than 3:00 to 1.00 for such Measurement Period.
Sample 1

Examples of Ratio Adjustment Period in a sentence

  • Additionally, concurrently with the Compliance Certificates required during the Ratio Adjustment Period (or any other period after the Covenant Relief Period during which certain covenants are annualized), the Borrower and the Parent shall provide Administrative Agent (for informational purposes only) its calculation of the financial tests set forth in Section 10.1 based on a trailing-twelve month calculation.

  • At all times during the Covenant Relief Period and the Ratio Adjustment Period, the Borrower and its Subsidiaries shall maintain an Average Daily Liquidity of not less than $125,000,000.

  • Borrower and each other Loan Party shall, and shall cause their Subsidiaries to, during the Ratio Adjustment Period, cooperate with the Consultant, promptly furnishing or granting it access to the Loan Parties and Subsidiaries books, records, documents and financial information during reasonable business hours and promptly respond to the Consultant’s questions or requests for information.

  • For the avoidance of doubt, no Revolving Credit Loans shall be made by the Revolving Credit Lenders during the Ratio Adjustment Period.

  • At all times during the Covenant Relief Period and the Ratio Adjustment Period, the Borrower and its Subsidiaries shall maintain an Average Daily Liquidity of not less than $100,000,000125,000,000.

Related to Ratio Adjustment Period

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Adjustment ratio means the value of index A divided by index

  • Measurement Period shall have the meaning specified in Section 14.01(b)(i).

  • Cumulative Net Loss Ratio means, as of any Payment Date, the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off Date.

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to (A) the Closing Net Working Capital as finally determined pursuant to this Section 2.5 minus the Estimated Net Working Capital, plus (B) Estimated Indebtedness minus Closing Indebtedness as finally determined pursuant to this Section 2.5, plus (C) Closing Cash as finally determined pursuant to this Section 2.5 minus Estimated Cash, plus (D) Estimated Transaction Expenses minus Closing Transaction Expenses as finally determined pursuant to this Section 2.5;

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Adjusted Dilution Ratio means, at any time, the rolling average of the Dilution Ratio for the 12 Calculation Periods then most recently ended.

  • Quarterly Excess Available Funds Percentage means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • Consolidated Capitalization Ratio on the last day of any fiscal quarter, the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Capital.

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Adjusted Quick Ratio is the ratio of (a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue.

  • MCE Valuation Period means, subject to any extension (as described in further detail in the Conditions), the period commencing from and including the moment upon which the Mandatory Call Event occurs and up to the end of the following trading session on the Index Exchange; and

  • Capitalization Rate means 6.75%.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Adjustment Day means the first calendar day in each month.