Bank Covenants. During the Operation Period, unless Retailers otherwise consent in writing:
Bank Covenants. It is recognized that CONTRACTOR must comply with the financial covenants established by its banks and lending institutions. It is further recognized such compliance is effected by CONTRACTOR’s level of borrowing which fluctuates from time to time. Consequently, CONTRACTOR may include as a Major Recoverable Expense the amount needed to provide the additional necessary revenue to meet all of its bank covenants. New Programs/Modifications: includes expenses for new programs and modifications to existing programs as approved by the AGENCY. Non-Recoverable Expenses: all expenses which are neither Allowable Expenses nor Recoverable Expenses, including, but not limited to, intercompany leases for personal property, intercompany loans and advances less than 90 days, officers salaries and benefits in excess of levels set for 2003 and adjusted annually using the Adjusted CPI Index., dues and subscriptions, fines and penalties, donations, non-MEMBER services and MEMBER non-uniform special services. Expenses associated with MEMBER services described in Section 2.2(a) of Exhibit A of the Franchise Agreement are Non-Recoverable expenses. For purposes of Section 2.2(a) expenses are defined as the direct cost of providing each member event or service as determined by a separate accounting. Expenses and revenues associated with services provided for non-MEMBER Customers or non-uniform MEMBER services and for special services provided for MEMBERS Agency(ies) must be accounted for separately. If similar resources (i.e. personnel, vehicles, etc.) are used for MEMBER uniform services and MEMBER special services or non-MEMBER services, accurate estimates of the percentage use of all of those resources must be developed by CONTRACTOR and approved by the AGENCY. Interest expense from credit cards, Federal or State income taxes, contributions, entertainment and promotional expenses are explicitly excluded. Operating Period: the period of time from July 1st through June 30th, defined as one (1) year.
Bank Covenants. Subject to the terms hereof, Bank shall allow Covered ATMs to participate in the Networks through Bank pursuant to the ISO Arrangement and in accordance with the Operating Rules. For the avoidance of doubt, Bank is under no obligation to allow ATMs that are not driven by a First Data Company to participate in any Networks.
Bank Covenants. Notwithstanding any other provisions of this Guaranty by accepting this Guaranty Agent and each Bank warrants, covenants and agrees as follows: (a) no Bank may enforce any rights under this Guaranty directly, but all rights hereunder shall be enforced solely by and through the Agent; (b) such Bank will not authorize or direct Agent, on its behalf, to institute an action against the Guarantor or exercise any of such Bank's remedies under this Guaranty unless and until an Event of Default (as defined in the Loan Agreement) has occurred and is continuing; (c) the Loan may be prepaid in full without penalty (other than any payments due as a result of prepaying a LIBOR Rate Loan (as defined in the Loan Agreement) prior to the termination of the then applicable Interest Period (as defined in the Loan Agreement)) at any time during which an Event of Default has occurred and is continuing; and (d) such Bank will not authorize or direct Agent, on its behalf, to enforce its rights against the Guarantor, unless in the same proceeding, the Agent shall also seek recovery (unless Agent is prohibited, temporarily or permanently, by bankruptcy, dissolutions, injunction inability to achieve service of process or other similar legal
Bank Covenants. Each Bank represents and warrants to the Borrowers, the Letter of Credit Banks and the Agent that it is either (x) a United States person (as defined in Section 7701(a)(30) of the Code); (y) entitled to the benefits of an income tax treaty with the United States that provides for an exemption from United States withholding tax on interest and other payments which may be made by the Borrowers to such Bank pursuant to the terms of this Agreement or any other Loan Document; or (z) engaged in trade or business within the United States. Each Bank that is organized under the laws of any jurisdiction other than the United States or any State thereof (including the District of Columbia) agrees to furnish to the Agent, the Letter of Credit Banks and the Borrowers, prior to the date of the first interest payment hereunder, two copies of either U.S. Internal Revenue Service Form 4224 or U.S. Internal Revenue Service Form 1001, or appropriate successor forms (wherein such Bank claims entitlement to complete exemption from U.S. federal withholding tax on all payments hereunder), and to provide to the Agent, the Letter of Credit Banks and the Borrower a new Form 4224 or Form 1001 (or appropriate successor forms, which may include Forms W8-BEN or W8-ECI) upon the obsolescence of any previously delivered form and comparable statements in accordance with applicable U.S. laws and regulations and amendments duly executed and completed by such Bank, and to comply from time to time with all applicable U.S. laws and regulations with regard to such withholding tax exemptions.
Bank Covenants. The Bank agrees with the Purchaser that:
Bank Covenants. Each of the Bank and the Seller agree to make such amendments to this Deed as are necessary in order to ensure that the provisions set out in Clauses 14.1(A), 14.4(F) to 14.4(W) (inclusive), 14.5, 14.6, 14.7 and Clauses 19.1(E) to 19.1(G) (inclusive) are on substantially the same terms as the corresponding provisions set out in the Conditions of the Bonds as at the Issue Date (including any changes to defined terms for the purposes of those clauses) provided that all costs and expenses relating to any such amendments (including any costs and expenses of the Bank in relation thereto) shall be for the account of the Seller. The Bank covenants that if the Seller enters into the Decommissioning Default Payment Debenture in substantially the form of the draft document made available to the Bank before the date of this Deed (or in such other form where the amendments made are not materially prejudicial to the Bank) and the Bank has prior to such entry been provided with documents mutatis mutandis the same as those referred to in Clause 4.2(R), but with the NLF and, where appropriate, the Secretary of State, amended as may be necessary to reflect any change in law after this Deed, then the Bank will agree that references in this Deed and the Deed of Charge to the DTI Security and the DTI shall include references to the Decommissioning Default Payment Debenture and the NLF.
Bank Covenants. The Bank hereby covenants and agrees with Funding as follows:
Bank Covenants. Bank’s sole responsibilities shall be to (i) create the electronic ACH and/or payment card transaction information file and submit the file to the Customer-designated ACH and/or payment card operator and (ii) receive remitter information from the online xxxx payment network operator, format the information into the file format specified by Customer and make such information available to Customer.
