Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

Financial Covenant Default has the meaning specified in Section 7.02.

Financial Covenant Default means an Event of Default under Section 11(c) for failure to comply with Section 10.7(a) or Section 10.7(b).

Examples of Financial Covenant Default in a sentence

Under the Term Lender Forbearance Agreement, the Prepetition Term Lenders party thereto agreed to forbear from exercising their rights and remedies under the Prepetition Credit Agreement with respect to the Going Concern Default, the Interest Payment Default and/or the Financial Covenant Default.
Agreement: Forbearance or Waiver ■ Relevant Factors to Consider: ► Seriousness of the Specified Default – Is it a Financial Covenant Default or Payment Default.
Violating the nancial covenant is an event of default, but not for the term loan lenders: Financial Covenant Default a Financial Covenant Event of Default shall not constitute an Event of Default with respect to any Term Loans until the Revolving Credit Lenders have declared all amounts outstanding under the Revolving Credit Facility to be immediately due and payable ...
In practice, from a mezzanine lender’s perspec- tive, a mezzanine lender’s position is best protected if it is subject to any payment stops only upon the occurrence of a Material Event of Default (Payment Default, Financial Covenant Default or Insolvency Event).
The Borrower has requested that the Required Lenders waive the Deferred Purchase Default.3.3. The Required Lenders hereby waive the Subject Financial Covenant Default and the Deferred Purchase Default.

More Definitions of Financial Covenant Default

Financial Covenant Default as defined in Section 8.1.

Financial Covenant Default has the meaning specified in Section 9.04.

Financial Covenant Default means a Default arising out of any Borrower’s failure to comply with any covenant provided under Section 7.3 of this Agreement.

Financial Covenant Default means (i) a failure to comply with any financial covenant set forth in Section 8.11 or (ii) the taking of any action by any Loan Party or its Subsidiaries if such action was prohibited hereunder solely due to the existence of a Financial Covenant Default of the type described in clause (i) of this definition. It is understood and agreed that this definition may not be amended without the written consent of the Required Covenant Lenders.

Financial Covenant Default means (i) a failure to comply with any of the Financial Covenants or (ii) the taking of any action by the Borrower or any Restricted Subsidiary if such action was prohibited hereunder solely due to the existence of a Financial Covenant Default of the type described in clause (i) of this definition.

Financial Covenant Default means an Event of Default which results solely from the violation of any now existing or hereafter arising financial covenant contained in the Loan Agreement, including, by way of illustration, those specific financial covenants set forth in Sections 6.16, 6.17, 6.18, 6.19, and 6.20 of the Loan Agreement and any supplement, addition, modification or amendment to those specific financial covenants.

Financial Covenant Default. (i) a failure to comply with the Financial Covenant or (ii) the taking of any action by the Company or its Subsidiaries if such action was prohibited hereunder solely due to the existence of a Financial Covenant Default of the type described in clause (i) of this definition. It is understood and agreed that this definition may not be amended without the written consent of the Majority Revolving Credit Facility Lenders.