Change in Financial Covenants. (i) ¨ If checked here, all references to “$ ” in the Agreement as the minimum Net Working Capital amount are hereby deleted and replaced with “$ ” for the period beginning and thereafter.
Change in Financial Covenants. The Addendum to Revolving Credit Agreement and Note describing the financial covenants and financial reporting is hereby amended by (x) deleting the financial covenant entitled “Fixed Charge Coverage Ratio” and the related defined term and (y) adding or amending, as the case may be, the financial covenants or defined terms shown below for the period beginning on the Effective Date and thereafter: “Year-To-Date EBITDA as of the end of each month set forth below for the fiscal year to date then ended of not less than the amount set forth opposite such date: Year-To-Date Ending Amount May 30, 2017 $1 August 31, 2017 $648,000 “Minimum Liquidity as of the end of each month of not less than $500,000.”
Change in Financial Covenants. Each Addendum to Term Loan Agreement and Note is hereby amended by (x) deleting the financial covenant entitled “Fixed Charge Coverage Ratio” and the related defined term and (y) adding or amending, as the case may be, the financial covenants or defined terms shown below for the period beginning on the Effective Date and thereafter: “Year-To-Date EBITDA as of the end of each month set forth below for the fiscal year to date then ended of not less than the amount set forth opposite such date: Year-To-Date Ending Amount May 30, 2017 $1 August 31, 2017 $648,000 “Minimum Liquidity as of the end of each month of not less than $500,000.”
Change in Financial Covenants. The financial covenant entitled “Year-To-Date EBITDA” in each Loan Agreement or Addendum thereto, as applicable, is hereby deleted and the financial covenant shown below is inserted in substitution therefor in each instance: “EBITDA as of August 31, 2017 for the fiscal quarter then ended of not less than $411,000.
Change in Financial Covenants. The Addendum to Revolving Credit Agreement and Note describing the financial covenants and financial reporting is hereby amended by adding or amending, as the case may be, the financial covenants or defined terms shown below for the period beginning on the Effective Date and thereafter: “Fixed Charge Coverage Ratio as of the end of each fiscal quarter for the four (4) fiscal quarters then ended of at least 1.15 to 1.0, except for the fiscal quarters ended August 31, 2016, November 30, 2016 and February 28, 2017.” “Year-To-Date Fixed Charge Coverage Ratio as of February 28, 2017 for the fiscal year to date then ended of at least 1.0 to 1.0.” “Year-To-Date EBITDA as of the end of each month set forth below for the fiscal year to date then ended of not less than the amount set forth opposite such date: Year-To-Date Ending Amount August 31, 2016 $360,000 September 30, 2016 $390,000 October 31, 2016 $395,000 November 30, 2016 $400,000 “Minimum Liquidity as of the end of each month commencing August 31, 2016 of not less than $750,000.” “‘Minimum Liquidity’ shall mean, as of any date of determination, an amount equal to the sum of (a) the aggregate unrestricted cash and cash equivalents held by the Borrower as of such date plus (b) the Availability as of such date.” “‘Availability’ shall mean, as of any date of determination, the amount by which (a) the lesser of the Borrowing Base and Loan Amount as of such date exceeds (b) the aggregate amount of all loans outstanding under the Revolving Credit Note as of such date.”
Change in Financial Covenants. Each Addendum to Term Loan Agreement and Note is hereby amended by adding or amending, as the case may be, the financial covenants or defined terms shown below for the period beginning on the Effective Date and thereafter: “Fixed Charge Coverage Ratio as of the end of each fiscal quarter for the four (4) fiscal quarters then ended of at least 1.15 to 1.0, except for the fiscal quarters ended August 31, 2016, November 30, 2016 and February 28, 2017.” “Year-To-Date Fixed Charge Coverage Ratio as of February 28, 2017 for the fiscal year to date then ended of at least 1.0 to 1.0.” “Year-To-Date EBITDA as of the end of each month set forth below for the fiscal year to date then ended of not less than the amount set forth opposite such date: Year-To-Date Ending Amount August 31, 2016 $360,000 September 30, 2016 $390,000 October 31, 2016 $395,000 November 30, 2016 $400,000 “Minimum Liquidity as of the end of each month commencing August 31, 2016 of not less than $750,000.” “‘Minimum Liquidity’ shall mean, as of any date of determination, an amount equal to the sum of (a) the aggregate unrestricted cash and cash equivalents held by the Borrower as of such date plus (b) the Availability as of such date.” “‘Availability’ means, as of any date of determination, the amount by which (a) the lesser of the Borrowing Base and Loan Amount (each as defined in the Revolving Credit Agreement described below) as of such date exceeds (b) the aggregate amount of all loans outstanding under the Revolving Credit Note dated May 1, 2013 by the Borrower in favor of the Bank issued in connection with the Revolving Credit Agreement dated as of May 1, 2013 between the Borrower and the Bank (as amended, restated, supplemented or otherwise modified from time to time, “Revolving Credit Agreement”) as of such date.”
Change in Financial Covenants. The Addendum to Revolving Credit Agreement and Note describing the financial covenants and financial reporting is hereby amended by adding or amending, as the case may be, the financial covenants shown below:
Change in Financial Covenants. Each Addendum to Term Loan Agreement and Note is hereby amended by adding or amending, as the case may be, the financial covenants shown below:
Change in Financial Covenants. The financial covenants, set forth in Sections 6.5 through Section 6.10A of the Credit Agreement shall be modified as follows and, in connection therewith, compliance by Borrower with Sections 6.9 and 6.10 of the Credit Agreement for the fiscal quarter ending on or closest to October 31, 2002, is hereby irrevocably waived:
Change in Financial Covenants. Section 10.7 of the Credit Agreement is hereby amended in its entirety to read as follows:
