Common use of CALCULATION OF DEBT TO VALUE RATIO Clause in Contracts

CALCULATION OF DEBT TO VALUE RATIO. The Lender shall calculate the Debt to Value Ratio on (a) the earlier of (i) the Drawdown Date for the final Advance and (ii) 30 June 2006 and (b) every 6 months thereafter (each a "REVIEW DATE") for the purposes of calculating the Margin and shall advise the Borrowers in writing within 10 Business Days of each Review Date of the Margin which will apply for the 6-month period commencing on the relevant Review Date PROVIDED THAT in respect of each Review Date other than the first Review Date, the Lender shall only be obliged to advise the Borrowers of the Margin which will apply for the 6-month period commencing on the relevant Review Date if that Margin will be different to the Margin which applied immediately prior to the relevant Review Date.

CALCULATION OF DEBT TO VALUE RATIO. The Lender shall calculate the Debt to Value Ratio on (a) the earlier of (i) the date falling 3 months after the Drawdown Date for the final Advance and (ii) 30 June 2006 2005 and (b) every 6 months thereafter (each a "REVIEW DATE") for the purposes of calculating the Margin and shall advise the Borrowers in writing within 10 Business Days of each Review Date of the Margin which will apply for the 6-month period commencing on the relevant Review Date PROVIDED THAT in respect of each Review Date other than the first Review Date, the Lender shall only be obliged to advise the Borrowers of the Margin which will apply for the 6-month period commencing on the relevant Review Date if that Margin ▇▇▇▇▇▇ will be different to the Margin which applied applies immediately prior to the relevant Review Date.