Specified Quarter definition
Examples of Specified Quarter in a sentence
In addition, notwithstanding any mandatory prepayment of Obligations pursuant to Section 2.4(e)(ii), any Indebtedness so prepaid shall be deemed to remain outstanding for purposes of determining pro forma or actual compliance with the Specified Financial Covenant or for determining any pricing, financial covenant based conditions or baskets with respect to the covenants contained in this Agreement, in each case in the Specified Quarter or subsequent periods that include such Fiscal Quarter.
If at the end of any fiscal quarter of the Borrower (beginning with the quarter ending June 30, 1997) prior to the first anniversary of the Closing Date the aggregate principal amount of the Loans shall exceed the Threshold Amount (each such fiscal quarter, a "Specified Quarter"), then the Borrower shall (subject to Sections 2.08 and 5.05 hereof) prepay a principal amount of the Loans and accrued interest thereon in an aggregate amount equal to 100% of Excess Cash Flow for such specified quarter.
The Borrower will give written notice to the Administrative Agent and Lenders of the Borrower’s intent to effectuate a Cure prior to its delivery to the Administrative Agent and Lenders of the Compliance Certificate as required by Section 5.02(a) for the Specified Quarter End.
Upon such delivery, the Borrower shall be deemed to have satisfied the requirements of Sections 5.10(a) and 5.10(b), as of the Specified Quarter End with the same effect as though there had been no failure to comply therewith on such date, and the applicable breach or default of any such covenant that had occurred shall be deemed cured for purposes of this Agreement and the other Loan Documents.
If, after giving effect to a recalculation of the Specified Covenants giving effect to the Cure, the Borrower shall then be in compliance with the requirements of the Specified Covenants, as applicable, the Borrower shall, prior to the end of the Cure Period, deliver to the Administrative Agent and Lenders a recalculated Compliance Certificate for the periods ending on the Specified Quarter End demonstrating compliance with the Specified Covenants and certifying that there exists no other Event of Default.