Financial Covenant Default. The term "FINANCIAL COVENANT DEFAULT" shall mean an Event of Default which results solely from the violation of any now existing or hereafter arising financial covenant contained in the Loan Agreement, including, by way of illustration, those specific financial covenants set forth in Sections 6.16, 6.17, 6.18, 6.19, and 6.20 of the Loan Agreement and any supplement, addition, modification or amendment to those specific financial covenants.
Financial Covenant Default if there is a default by the Borrower of any of the Financial Covenants outlined in Section 4.2;
Financial Covenant Default. (a) In the event that Borrowers fail to satisfy either of the Financial Covenants as of any calculation date (i.e., the date as of which covenant compliance is
Financial Covenant Default. Customer acknowledges that the financial covenants set forth in Attachment A to the Agreement are applicable to the financial results of Customer for the fiscal quarter ending April 30, 2003, and Customer was required to maintain such financial covenants at all times. Customer further acknowledges its actual attainment was as follows: Covenant Covenant Requirement Covenant Actual
Financial Covenant Default. The term “Financial Covenant Default” shall mean an Event of Default which results solely from the violation of any now existing or hereafter arising financial covenant contained in the Credit Agreement, including, by way of illustration, those specific financial covenants set forth in Section 11 of the Credit Agreement and any supplement, addition, modification or amendment to those specific financial covenants.
Financial Covenant Default. Borrower shall fail to comply with the financial covenants contained in SECTION 8 hereof or in the Bank’s judgment, reasonably exercised, the overall financial condition of Borrower or Guarantors or the total value of the security for the Loans is affected in a material adverse manner (“Financial Covenants”).
Financial Covenant Default. (a) In the event that Borrowers fail to satisfy the Debt Yield Covenant as of any calculation date (i.e., the date as of which covenant compliance is calculated; not the date on which the determination of compliance or non-compliance is made), Borrowers shall, within ten (10) calendar days after the date the financial reports and compliance certificates required by Sections 4.1(b)(v) and 6.6 are due, pay to Administrative Agent, as a mandatory prepayment, an amount (a "Covenant Prepayment") which, if such amount were applied against the outstanding principal balance of the Loans, would be sufficient to satisfy the Debt Yield Covenant as of such calculation date, calculating the outstanding principal balance of the Loans after giving proforma effect to such Covenant Prepayment. Failure to satisfy the Debt Yield Covenant shall be deemed an Event of Default under Section 11.1 only if Borrowers fail to make the Covenant Prepayment, together with the proportionate amount of the Exit Fee owing with respect thereto within said ten (10) day period.
Financial Covenant Default. In the event that Borrowers fail to satisfy the covenants in Section 6.3, Borrower may elect no more than two (2) times per calendar year to pay an amount equal to the Covenant Prepayment (as defined below). Such election shall be made by written notice delivered to Agent within thirty (30) days after the applicable “as of” calculation date that Borrowers failed to satisfy. The “Covenant Prepayment” shall be an amount acceptable to Agent in its sole discretion, but which will not exceed an amount which, if applied against the outstanding principal balance of the Loan, would be sufficient to satisfy the covenant in Section 6.3 for the applicable quarter as of the last calculation date, calculating the outstanding principal balance of the Loan after giving effect to any mandatory prepayment actually made. If Borrower makes an election hereunder, such election shall be irrevocable and a default under this Section 6.6 shall be deemed an Event of Default if Borrowers fail to make the required prepayment of the Loan within sixty (60) days after the applicable “as of” calculation date that Borrowers failed to satisfy. Agent shall have the right to specify in writing an extended payment period for such prepayment, in its sole discretion, but no such extended payment period shall extend beyond the Commitment Expiry Date.
Financial Covenant Default. Any Default arising out of a failure to satisfy any of the terms of Sections 10.13 and 10.14.
Financial Covenant Default. In the event that Borrowers fail to satisfy the covenant in Section 6.3, Borrower shall have the option no more than twice in any twelve (12) month period to pay to Agent by no later than five (5) Business Days after the timely delivery of the Compliance Certificate required under this Agreement for the measurement period related to such failure, an amount CHICAGO/#2321168.11
