Applicable Covenant definition

Applicable Covenant means the covenants set forth in Sections 5.3(a), (b), (d) and (e), Section 5.4(a), (b) and (e), and Section 5.5(a) and (b) of the Purchase Agreement.
View Source
Applicable Covenant means any financial covenants imposed upon Encore under any Other Financing Document.
View Source
Applicable Covenant shall have the meaning assigned to such term in Section 1.02.
View Source

Examples of Applicable Covenant in a sentence

  • As of the date hereof, the disposition of the Arkansas Property is anticipated to occur prior to the expiration of ten (10) Business Days and the Borrower has not provided the certifications required by the Applicable Covenant.

  • The Seller shall be in compliance with all Applicable Covenants (for so long as the related Other Financing Documents are in effect), shall provide to the Agent on the last day of each month a compliance certificate indicating, in reasonable detail, such compliance, and shall give the Agent notice within one (1) Business Day of the Seller’s discovery thereof, of any non-compliance with any Applicable Covenant.

  • Notwithstanding the foregoing, any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from an Indemnified Party to the Holder Representative prior to the Applicable Covenant Survival Date shall not thereafter be barred by the expiration of the relevant covenant or agreement and such claims shall survive until finally resolved pursuant to this Article X.

  • Borrower has requested that the Required Banks consent to the Borrower's departure from clause (e) (ii) of Section 10.8 of the Credit Agreement (the "Applicable Covenant") in order to permit the sale of the Arkansas Property because the Applicable Covenant requires that the Borrower provide certifications demonstrating compliance with subclauses (iii) and (iv) of clause (e) not less than ten (10) Business Days prior to the date of the proposed disposition.

  • The failure to comply with the Applicable Covenant for any other sale of assets shall constitute an Event of Default.

  • Except as specifically set forth in the preceding paragraph, Bank is not waiving, and reserves all of its rights and remedies, with respect to any other breaches of the Credit Agreement or Events of Default which may now exist or may hereafter occur, including, without limitation, of the Applicable Representation and Applicable Covenant.

  • The consent set forth in Section 2.1 shall not be deemed a consent to the departure from or waiver of (a) the Applicable Covenant for any purpose other than to permit the Asset Sales or (b) any other covenants or condition in any Loan Document or (c) any Event of Default that otherwise may arise as a result of the Asset Sales.

  • In accordance with the terms and conditions of this Amendment, Administrative Agent, Collateral Agent and the Banks consent to Borrower's departure from the Applicable Covenant in order to allow the Asset Sales to occur.

  • The Borrower has requested that the Administrative Agent, the Collateral Agent and the Banks consent to the Borrower's departure from the covenant contained in Section 9.8 of the Agreement (the "Applicable Covenant") which restricts the Borrower's ability to sell its assets.

  • Notwithstanding anything to the contrary set forth in Sections 6.5(b) and 6.5(d) of the Credit Agreement (the “Applicable Covenant Sections”), the Lenders hereby waive compliance by the Credit Parties with the Applicable Covenant Sections for the fiscal quarters ending September 30, 2021 and December 31, 2021, respectively.


More Definitions of Applicable Covenant

Applicable Covenant means any financial covenants imposed upon the Trust, MortgageIT or MortgageIT Holdings under any Other Financing Document.
View Source

Related to Applicable Covenant

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Incurrence Covenant A covenant by any borrower to comply with one or more financial covenants only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).