Financial Covenant Amendment Sample Clauses

Financial Covenant Amendment. (a) The financial covenant governing Consolidated Senior Debt to Consolidated Cash Flow at Subsection 5.15(b) of the Agreement is hereby replaced with the following: A ratio of Consolidated Senior Debt to the difference of Consolidated EBITDA and Consolidated Capital Expenditures which is less than or equal to 2.0 to 1.0 at the end of each fiscal quarter, with Consolidated Senior Debt calculated as of such quarter end and Consolidated EBITDA and Consolidated Capital Expenditures calculated for the four fiscal quarters then ending.
Sample 1
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Financial Covenant Amendment. Upon the Financial Covenant Amendment, as defined in the LIFO Credit Agreement, becoming effective under the LIFO Credit Agreement, the terms of such Financing Covenant Amendment shall be deemed incorporated herein as though written herein and Borrower shall comply with the same.
Sample 1
Financial Covenant Amendment. If any financial covenant or any term constituting a component of a financial covenant, in each case, as determined by the Administrative Agent in its sole discretion, contained in the Term Loan Agreement or in that certain Indenture, by and among Parent, as issuer, the guarantors party thereto, and U.S. Bank Trust Company, National Association, as trustee and as collateral agent, is amended in a manner that, in the reasonable opinion of the Administrative Agent, would cause any such financial covenant to be more restrictive on the Parent or any Affiliate thereof than the Financial Covenants hereunder, then the Borrower shall, within thirty (30) days of such amendment, cause this Agreement to be amended to make the Financial Covenants hereunder no less restrictive (in the reasonable opinion of the Administrative Agent) than the financial covenants thereunder. Section 6.02.
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Financial Covenant Amendment. In lieu of the Interest Coverage Ratio covenant set forth in subpart (b) of Exhibit 6.01(L) of the Loan Agreement, Borrower covenants that it will comply with the following covenant effective as of December 31, 1996 and thereafter:
Sample 1
Financial Covenant Amendment. Subject to the satisfaction (or waiver) of the conditions set forth in Section 5 hereof, on the Amendment No. 4 Effective Date, Section 7.11 of the Credit Agreement is hereby amended by amending and restating the second sentence thereof in its entirety to read as follows: “Notwithstanding the foregoing, this Section 7.11 shall be in effect (and shall only be in effect) (x) when the aggregate amount of Swing Line Loans, Letters of Credit and/or Revolving Credit Loans exceeds 20.0% of the aggregate amount of Revolving Credit Commitments then in effect and (y) if the aggregate amount of Swing Line Loans, Letters of Credit and/or Revolving Credit Loans exceeds 20.0% of the aggregate amount of Revolving Credit Commitments then in effect, when determining whether a Default or Event of Default exists for purposes of Section 4.01 in connection with the incurrence or issuance of a Swing Line Loan, Letter of Credit and/or Revolving Credit Loan (it being understood that in all cases calculation of compliance with this Section 7.11 shall be determined as of the last day of each Test Period).”
Sample 1
Financial Covenant Amendment. Subject to the satisfaction of each of the “General Conditions” (as defined in Section 6 hereof), Section 6.3(b)(ii) of the Credit Agreement is hereby amended to amend and restate the table set forth in such section in its entirety as follows: Period Ratio January 1, 2004 through and including December 31, 2004 5.75 to 1.00 January 1, 2005 through and including December 31, 2005 5.50 to 1.00 January 1, 2006 through and including June 30, 2006 5.00 to 1.00 July 1, 2006 through and including September 30, 2006 5.60 to 1.00 October 1, 2006 through and including December 31, 2006 5.00 to 1.00 January 1, 2007 through and including December 31, 2007 4.75 to 1.00 January 1, 2008 through and including December 31, 2008 4.50 to 1.00 January 1, 2009 through and including December 31, 2009 4.00 to 1.00 January 1, 2010 and thereafter 3.50 to 1.00
Sample 1
Financial Covenant Amendment. A new sentence is hereby inserted at the end of Section 7.20 of the Loan Agreement to read as follows: "In addition, (i) Borrowers shall not be required to maintain the applicable EBIDTA for the fiscal quarters ending September 30, 2004 and June 30, 2006, (ii) Borrowers' EBITDA for such quarterly periods shall not be included in the calculations of EBITDA for the purpose of this Section 7.20 either for such fiscal periods or any other fiscal periods, and (iii) Borrowers shall not be required to deliver to Agent a Compliance Certificate in accordance with Section 6.2 hereof for any fiscal quarter described in clause (i) above." Lenders acknowledge Borrowers are in compliance under Sections 6.2 and 7.20 as of the date hereof.
Sample 1
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Financial Covenant Amendment. On or prior to December 31, 2007, Parent and Borrowers shall execute and deliver to Agent the Financial Covenant Amendment, in form and substance reasonably satisfactory to Agent and Requisite Lenders; PROVIDED, HOWEVER, that the deadline for execution and delivery of such Financial Covenant Amendment shall be extended to June 30, 2008 solely if the Borrowers' Availability exceeds $15,000,000 for each Business Day from and including October 1, 2007 through and including June 29, 2008; PROVIDED, FURTHER, that if, on any Business Day from and including January 1, 2008 through and including June 29, 2008 Borrowers' Availability does not exceed $15,000,000, Parent and Borrowers shall execute and deliver to Agent the Financial Covenant Amendment within ten (10) Business Days after the Business Day on which Borrowers' Availability first failed to exceed $15,000,000.
Sample 1
Financial Covenant Amendment. If any financial covenant or any term constituting a component of a financial covenant, in each case, as determined by the Administrative Agent in its sole discretion, contained in the Term Loan Agreement or in that certain Indenture, by and among Parent Guarantor, as issuer, the guarantors party thereto, and U.S. Bank Trust Company, National Association, as trustee and as collateral agent, is amended in a manner that, in the reasonable opinion of the Administrative Agent, would cause any such financial covenant to be more restrictive on the Parent Guarantor or any Affiliate thereof than the financial covenants in SECTION 5.42 hereunder, then the Borrower shall, within thirty (30) days of such amendment, cause this Agreement to be amended to make the financial covenants in SECTION 5.42 hereunder no less restrictive (in the reasonable opinion of the Administrative Agent) than the financial covenants thereunder.
Sample 1

Related to Financial Covenant Amendment

  • 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 Covenants So long as any Advance or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding or any Lender Party shall have any Commitment hereunder, the Borrower will:

  • Certain Financial Covenants The Borrower will not:

  • 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.

  • 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:

  • 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.

  • Additional Financial Covenants If the Company shall at any time enter into one or more agreements (including any amendment of an existing agreement) pursuant to which Senior Funded Debt in an aggregate principal amount greater than $30,000,000 shall be outstanding and such agreement contains one or more financial covenants which are more restrictive on the Company and its Subsidiaries than the financial covenants contained in this Agreement, then such more restrictive financial covenants and any related definitions (the “Additional Financial Covenants”) shall automatically be deemed to be incorporated into § 5 of this Agreement (including § 5.15(f) and (g)) by reference and § 6.1(e) shall be deemed to be amended to include such Additional Financial Covenants from the time such other agreement becomes binding upon the Company until such time as such other Senior Funded Debt is repaid in full and all commitments related thereto are terminated; provided, that if at the time of any such repayment or the termination of any such commitment a Default or Event of Default shall exist under this Agreement, then such covenants shall continue in full force and effect so long as such Default or Event of Default continues to exist. So long as such Additional Financial Covenants shall be in effect, no modification or waiver of such Additional Financial Covenants shall be effective unless the Holders of at least 51% in aggregate principal amount of the Notes shall have consented thereto pursuant to § 7.1 hereof. Promptly but in no event more than 10 Business Days following the execution of any agreement providing for Additional Financial Covenants, the Company shall furnish each holder of the Notes with a copy of such agreement. Upon written request of the Holders of at least 51% in aggregate principal amount of the Notes, the Company will enter into an amendment to this Agreement pursuant to which this Agreement will be formally amended to incorporate the Additional Financial Covenants on the terms set forth herein.

  • 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 and Ratios Seller shall at all times comply with any financial covenants and/or financial ratios set forth in the Transactions Terms Letter.

  • 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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