Deletion of Financial Covenants Sample Clauses

Deletion of Financial Covenants. The Parties hereby agree to delete all of the Financial Covenants.
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Deletion of Financial Covenants. (a) Section 10.3 of the Credit Agreement is hereby deleted in its entirety and replaced with "[Intentionally Deleted]".
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Deletion of Financial Covenants. Each of Sections 7.1 and 7.2 of the Credit Agreement shall be deleted in its entirety and replaced with “[Reserved].”
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Deletion of Financial Covenants. The following financial covenants are hereby deleted from the Agreement, as previously amended: Fixed Charge Coverage Dated as of May 15, 2006 (Individual) (Non-Individual) Outdoor Channel Holdings, Inc. Borrower Name a/an Delaware Corporation By: /s/ Xxxxxxx X. Xxxx Borrower Name Name and Title Xxxxxxx X. Xxxx, Chief Financial Officer By: Name and Title Agreed to: U.S. BANK N.A. By: /s/ Xxxxxxx X. Xxxxxxxx Name and Title Xxxxxxx X. Xxxxxxxx, Vice President SECOND ADDENDUM TO AMENDMENT TO LOAN AGREEMENT AND NOTE by and between U.S. Bank N.A. and Outdoor Channel Holdings, Inc. May 15, 2006 This Second Addendum to Amendment to Loan Agreement and Note (this “Addendum”) is made part of the Amendment to Loan Agreement and Note of even date herewith (the “Amendment”) made and entered into by and between the undersigned borrower (the “Borrower”) and U.S. Bank N.A. (the “Bank”). The warranties, covenants and other terms of this Addendum and the Addendum to Revolving Credit Agreement and Note of even date herewith (the “First Addendum”) by and between Borrower and Bank (i) supplement, amend or modify the Agreement (as defined in the Amendment), the Amendment and to the extent inconsistent herewith, all Loan Documents (as defined in the Agreement) and any and all other documents by and between Bank and Borrower that have not expired or terminated, including, without limitation, that certain Term Loan Agreement dated October 18, 2005 by and between Bank and Borrower, as such agreement may have been amended, modified, supplemented, extended, replaced or restated (collectively, the “Term Loan Agreement”), and (ii) constitute warranties, covenants and terms of all the extensions of credit made by Bank to Borrower, including, without limitation, the extensions of credit made pursuant to Term Loan Agreement. The First Addendum and this Addendum are (notwithstanding the name of the First Addendum and the introductory paragraph in the First Addendum) addendums to the Amendment. Capitalized terms and financial terms not defined herein shall have the meanings ascribed to them in the Agreement (as amended) or, if not defined in the Agreement, the meanings ascribed to them by generally accepted accounting principles. In the event of any conflict between the provisions of the Agreement, the Amendment, the First Addendum, any Loan Document, the Term Loan Agreement or any other document by and between Bank and Borrower, on the one hand, and the provisions of this Addendum on the o...
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Deletion of Financial Covenants. Sections 7.1, 7.2, 7.6, 7.8, 7.10, 7.11, 7.12, 7.13, 7.16 and 7.20 of the Existing Loan and Security Agreement (which contain financial covenants to be satisfied by Borrower), are hereby deleted in their entirety.
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Deletion of Financial Covenants. Sections 5.2.18, 5.2.19, 5.2.20, and 5.2.21 of the Xxxxxx Reimbursement Agreement are deleted in their entirety.
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Deletion of Financial Covenants. Section 5.14 of the Loan Agreement is hereby deleted, the intent of which being the elimination of the financial covenants contained in the Loan Agreement.
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Deletion of Financial Covenants. The following financial covenants are hereby deleted from the Agreement, as previously amended: Debit to Tangible Net Worth Ratio. Dated as of November 15, 2006 (Non-Individual) Itex Corporation a/an Nevada Corporation By: /s/ Xxxxxx Xxxxx Name and Title Xxxxxx X. Xxxxx, Chairman of the Board Agreed to: U.S. BANK N.A. By: /s/ Xxxxxxx X. Xxxxx
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Related to Deletion of Financial Covenants

  • Financial Covenants Section 4.01. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof.

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • Certain Financial Covenants The Borrower will not:

  • Certain Additional Covenants (a) If any Pledgor shall, as a result of its ownership of any of the Collateral, become entitled to receive or shall receive any Stock Certificate (including any Stock Certificate issued pursuant to a stock dividend or a distribution in connection with any reclassification or increase or reduction of capital, or any Stock Certificate issued in connection with any reorganization) or any other certificate evidencing any Collateral, such Pledgor shall accept the same as the agent of the Agent, hold the same in trust for the Agent and deliver the same forthwith to the Agent in the exact form received, duly endorsed by such Pledgor to the Agent, if required, together with an undated stock power covering such Stock Certificate or other certificate duly executed in blank by such Pledgor and with, if the Agent so requests, signature guaranteed, to be held by the Agent, subject to the terms hereof, as additional Collateral. Any sums paid upon or in respect of the Pledged Equity Interests upon the liquidation or dissolution of any Subsidiary shall be paid over to the Agent to be held as additional Collateral. In case any distribution of capital shall be made on or in respect of the Pledged Equity Interests or any property shall be distributed upon or with respect to the Pledged Equity Interests pursuant to the recapitalization or reclassification of the capital of the Pledgor or any Subsidiary or pursuant to the reorganization thereof, as applicable, the capital or property so distributed shall be delivered to the Agent to be held as additional Collateral. If any such capital or property so paid or distributed shall be received by any Pledgor, such Pledgor shall, until such capital or property is paid or delivered to the Agent, hold such money or property in trust for the Agent, segregated from other funds of such Pledgor, as additional Collateral.

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Compliance with Financial Covenants Schedule A attached hereto sets forth financial data and computations evidencing the Borrower’s compliance with certain covenants of the Agreement, all of which data and computations are true, complete and correct.

  • Special Covenants If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13 or 5.15 hereof.

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit:

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

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