Subject Month definition
Examples of Subject Month in a sentence
As long as any Commitments or Obligations are outstanding, for each month ending during or immediately before any Trigger Period (each such month, a “Subject Month”), Borrowers shall maintain a Fixed Charge Coverage Ratio, when measured on a trailing twelve (12) month basis (or, in the case of any Subject Month ending prior to the first anniversary of the Closing Date, when measured for the period from the Closing Date through the end of such Subject Month), of at least 1.0 to 1.0.
The Company shall provide the first Company Monthly Budget to Parent upon the execution of this Agreement and all subsequent Company Monthly Budgets at least ten calendar days prior to the beginning of the next Subject Month.
Subject to the terms of this Agreement, during any Subject Month in which the Streamline Advance Rate applies, Borrowers may request that Bank finance Streamline Eligible Accounts.
Conversely, during any Subject Month in which the Streamline Advance Rate applies, any outstanding Non-Streamline Advances will be immediately converted to Streamline Advances and repaid in accordance with subsection (ii) above.
For any Subject Month, to the extent the Liquidity Ratio of Parent and its Subsidiaries on a consolidated basis was greater than or equal to 1.35 to 1.0 as of the last day of the applicable Testing Month, within three (3) Business Days of receipt of Accounts collected by Bank pursuant to Section 6.3(c), Bank will turn over to Borrowers the proceeds of the Accounts.