Applicable Margin Reduction Conditions

Example Definitions of "Applicable Margin Reduction Conditions"
Applicable Margin Reduction Conditions. Means the first day of the first month following Borrowers' submission of a Compliance Certificate demonstrating that: (a) no Defaults or Events of Default have occurred and are continuing (including compliance with all financial covenants), and (b) Borrowers' Fixed Charge Coverage Ratio, measured on a trailing twelve month basis is equal or greater than 1.20 to 1.00 for 3 or more consecutive months.
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