Special Provision Regarding Financial Covenants Sample Clauses

Special Provision Regarding Financial Covenants. Notwithstanding the foregoing, if both (x) pursuant to Section 8.26(a), the calculated Total Leverage Ratio is less than or equal to 2.75 to 1.00 and (y) pursuant to Section 8.26(b), the calculated Fixed Charge Coverage Ratio is greater than or equal to 1.25 to 1.00, then the Loan Parties and their Non-Canadian Subsidiaries shall not be required to comply with the financial covenants set forth in Section 8.23(a), (b) and (c) or deliver such financial covenant calculations pursuant to Section 8.5(l).
Sample 1
AutoNDA by SimpleDocs
Special Provision Regarding Financial Covenants. Notwithstanding the foregoing, if both (x) pursuant to Section 8.26(a), the calculated Total Leverage Ratio is less than or equal to (i) 3.15 to 1.00 for the period ending on December 31, 2014, (ii) 3.65 to 1.00 for the period ending on Xxxxx 00, 0000, (xxx) 5.00 to 1.00 for the period ending on June 30, 2015, (iv) 7.00 to 1.00 for the period ending on September 30, 2015, (v) 4.00 to 1.00 for the period ending on December 31, 2015, (vi) 3.25 to 1.00 for the period ending on March 31, 2016, and (vii) 2.75 to 1.00 for the period ending on June 30, 2016 and all periods thereafter, and
Sample 1
Special Provision Regarding Financial Covenants. Notwithstanding the foregoing, if both (x) pursuant to Section 8.26(a), the calculated Total Leverage Ratio is less than or equal to (i) 3.15 to 1.00 for the period ending on December 31, 2014, (ii) 3.65 to 1.00 for the period ending on Xxxxx 00, 0000, (xxx) 3.25 to 1.00 for the period ending on June 30, 2015, (iv) 3.65 to 1.00 for the period ending on September 30, 2015, (v) 2.75 to 1.00 for the period ending on December 31, 2015 and all periods thereafter, and (y) pursuant to Section 8.26(b), the calculated Fixed Charge Coverage Ratio is greater than or equal to (i) 1.10 to 1.00 for the period ending on December 31, 2014, (ii) 1.25 to 1.00 for the period ending on March 31, 2015 and all periods thereafter, then the Loan Parties and their Non-Canadian Subsidiaries shall not be required to comply with the financial covenants set forth in Section 8.23(a), (b) and (c) or deliver such financial covenant calculations pursuant to Section 8.5(l).
Sample 1
Special Provision Regarding Financial Covenants. Notwithstanding the foregoing, if both (x) pursuant to Section 8.26(a), the calculated Total Leverage Ratio is less than or equal to (i) 3.15 to 1.00 for the period ending on December 31, 2014 and Xxxxx 00, 0000, (xx) 3.25 to 1.00 for the period ending on June 30, 2015, (iii) 3.65 to 1.00 for the period ending on September 30, 2015, (iv) 2.75 to 1.00 for the period ending on December 31, 2015 and all periods thereafter, and (y) pursuant to Section 8.26(b), the calculated Fixed Charge Coverage Ratio is greater than or equal to (i) 1.10 to 1.00 for the period ending on December 31, 2014, (ii) 1.25 to 1.00 for the period ending on March 31, 2015 and all periods thereafter, then the Loan Parties and their Non-Canadian Subsidiaries shall not be required to comply with the financial covenants set forth in Section 8.23(a), (b) and (c) or deliver such financial covenant calculations pursuant to Section 8.5(l).
Sample 1

Related to Special Provision Regarding Financial Covenants

  • 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.

  • 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.

  • 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.

  • Additional Covenants The Company covenants and agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement:

  • 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.

  • 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:

  • Joint Covenants Buyer and Seller hereby covenant and agree that between the date hereof and Closing:

  • Additional Covenants of the Company The Company further covenants and agrees with each Underwriter as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.