Common use of Borrower’s Right to Cure Clause in Contracts

Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Total Net Leverage Ratio is greater than the amount set forth in Section 8.01 on the last day of any applicable Test Period, any equity contribution (in the form of common equity or other equity having terms reasonably acceptable to the Administrative Agent) made to the Borrower after the last day of such Test Period and on or prior to the day that is ten (10) Business Days after the day on which financial statements are required to be delivered for such Test Period (such date, the “Cure Expiration Date”) will, at the request of the Borrower, be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the financial covenant set forth in Section 8.01 at the end of such Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided, that:

Appears in 3 contracts

Samples: Credit Agreement (Impax Laboratories Inc), Credit Agreement (Impax Laboratories Inc), Credit Agreement (Impax Laboratories Inc)

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Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Total Net Leverage Fixed Charge Coverage Ratio is greater less than the amount set forth in Section 8.01 on the last day of any applicable Test Period, any equity contribution (in the form of common equity or other equity having terms reasonably acceptable to the Administrative Agentthat is not a Disqualified Equity Interest) made to the Borrower after the last day end of such Test Period the relevant fiscal quarter and on or prior to the day that is ten (10) Business Days after the day date on which financial statements are required to be delivered for such Test Period and Not Otherwise Applied (such date, the “Cure Expiration Date”) will, at the request of the Borrower, be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the financial covenant set forth in Section 8.01 at the end of such Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided, provided that:,

Appears in 1 contract

Samples: Abl Revolving Credit Agreement (Petco Health & Wellness Company, Inc.)

Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Total Senior Secured Net Leverage Ratio is greater than the amount set forth in Section 8.01 on the last day of any applicable Test Period, any equity contribution (in the form of common equity or other equity having terms reasonably acceptable to the Administrative Agent) made to the Borrower after the last day of such Test Period and on or prior to the day that is ten (10) Business Days after the day on which financial statements are required to be delivered for such Test Period (such date, the “Cure Expiration Date”) will, at the request of the Borrower, be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the financial covenant set forth in Section 8.01 at the end of such Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided, that:

Appears in 1 contract

Samples: Credit Agreement (Press Ganey Holdings, Inc.)

Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Total Net Leverage Fixed Charge Coverage Ratio is greater less than the amount set forth in Section 8.01 on the last day of any applicable Test Period, any equity 206 contribution (in the form of common equity or other equity having terms reasonably acceptable to the Administrative Agentthat is not a Disqualified Equity Interest) made to the Borrower after the last day end of such Test Period the relevant fiscal quarter and on or prior to the day that is ten (10) Business Days after the day date on which financial statements are required to be delivered for such Test Period and Not Otherwise Applied (such date, the “Cure Expiration Date”) will, at the request of the Borrower, be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the financial covenant set forth in Section 8.01 at the end of such Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided, provided that:,

Appears in 1 contract

Samples: Abl Revolving Credit Agreement (Petco Health & Wellness Company, Inc.)

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Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, in the event that the Total First Lien Net Leverage Ratio is greater than the amount set forth in Section 8.01 on the last day of any applicable Test Period, any equity contribution (in the form of common equity or other equity having terms reasonably acceptable to the Administrative Agentthat does not constitute Disqualified Equity Interests) made directly or indirectly to the Borrower after the last first day of such Test Period any applicable fiscal quarter and on or prior to the day that is ten (10) Business Days after the day on which financial statements are required to be delivered for such Test Period fiscal quarter (such date, the “Cure Expiration Date”) will, at the request of the Borrower, be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the financial covenant set forth in Section 8.01 at the end of such the applicable Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided, provided that:

Appears in 1 contract

Samples: First Lien Credit Agreement (Authentic Brands Group Inc.)

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