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SEC Filings

BRISTOW GROUP INC filed this Form 8-K on 04/23/2018
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“Relevant Period” means each period of twelve months ending on the last day of the Financial Year and each period of twelve months ending on the last day of each Financial Quarter.


26.2 Financial condition

If the Agent by notice so requests during a Cash Dominion Period, the Parent shall ensure that at any time after such request during that Cash Dominion Period, the Fixed Charge Coverage Ratio with respect to the Parent and its Restricted Subsidiaries on a consolidated basis in respect of any Relevant Period starting after the Agent’s request and ending during that Cash Dominion Period shall not be less than 1:1.


26.3 Financial testing

The financial covenant set out in Clause 26.2 shall be calculated in accordance with the Accounting Principles applicable to the Parent and tested (at any time when such covenant applies as provided for above) by reference to each of the relevant financial statements delivered pursuant to Clause 25.1(a)(i) and Clause 25.1(b) (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 25.2 (Provision and contents of Compliance Certificate).


26.4 Unrestricted Subsidiaries

The Parent shall promptly provide the Agent with a copy of any designation of an Unrestricted Subsidiary, provided always that the Parent may not:


  (a) designate either Borrower as an Unrestricted Subsidiary; or


  (b) designate a Subsidiary of a Borrower as an Unrestricted Subsidiary at any time while an Event of Default is continuing or during a Cash Dominion Period.



The undertakings in this Clause 27 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Revolving Facility Commitment is in force.

Authorisations and compliance with laws


27.1 Authorisations

Each Borrower shall (and shall ensure that each of its Subsidiaries will) promptly:


  (a) obtain, comply with and do all that is necessary to maintain in full force and effect; and


  (b) supply, on request, certified copies to the Agent of:

any Authorisation required under any law or regulation of a Relevant Jurisdiction:


  (i) for the performance of its obligations under the Finance Documents;



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