Fixed Charge Security Sample Clauses

Fixed Charge Security. If CIBC determines in its sole discretion that there has been a Material Adverse Change (including the occurrence of a Borrowing Base Shortfall) and CIBC considers it necessary for its adequate protection, the Borrower, at the request of CIBC, shall forthwith grant or cause to be granted to CIBC and/or PLC, a fixed charge and security interest (subject only to Permitted Encumbrances which under applicable law rank in priority thereto) in such of the Borrower's property as CIBC shall, in its sole discretion, determine as security for all then present and future indebtedness of the Borrower to CIBC and/or PLC under this Financing Commitment. In this connection, the Borrower shall: (i) provide CIBC with such information as is reasonably required by CIBC to identify the property to be so charged; (ii) do all such things as are reasonably required to grant in favour of CIBC and/or PLC, a fixed charge and security interest (subject only to Permitted Encumbrances which under applicable law rank in priority thereto) in respect of such property to be so charged; (iii) provide CIBC and/or PLC with all corporate resolutions and other action, as reasonably required for the Borrower, to grant to CIBC and/or PLC a fixed charge and security interest (subject only to Permitted Encumbrances which under applicable law rank in priority thereto) in their respective property identified by CIBC to be so charged; (iv) provide CIBC and/or PLC with such security instruments and other documents which CIBC, acting reasonably, deems are necessary to give full force and effect to the provisions of this Section 7.1(p); (v) assist CIBC and/or PLC in the registration or recording of such agreements and instruments in such public registry offices in Canada or any Province thereof as CIBC, acting reasonably, deems necessary to give full force and effect to these provisions; and (vi) pay all reasonable costs and expenses incurred by CIBC and/or PLC in connection with the preparation, execution and registration of all agreements, documents and instruments, including any amendments to the Security, made in connection herewith.
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Related to Fixed Charge Security

  • Fixed Charge Ratio Maintain a Fixed Charge Ratio as determined as of each Calculation Date of not less than 1.50: 1. The Fixed Charge Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.

  • Fixed Charge Coverage Ratio The Borrower will not permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter to be less than 2.00 to 1.0.

  • Fixed Charge Coverage As of the last day of each calendar quarter, the ratio of (x) Annual EBITDA, less reserves for Capital Expenditures of (i) $.25 per square foot per annum for each Real Property Asset that is an office or retail property and (ii) $250 per unit for each Real Property Asset that is a multi-family residential property, to (y) the sum of (i) Total Debt Service and (ii) dividends or other payments payable by the General Partner with respect to any preferred stock issued by the General Partner and distributions or other payments payable by the Borrower with respect to any preferred partnership units of the Borrower, will not be less than 1.5:1.0.

  • Minimum Fixed Charge Coverage Ratio Maintain a Fixed Charge Coverage Ratio of at least 1.25:1.00 measured at the end of each Fiscal Quarter for the four consecutive Fiscal Quarters then ended.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.00.