Collateral Covenants definition

Collateral Covenants. Minimum Eligible Accounts Receivable and Minimum Eligible Inventory covenants consistent with the Amended and Restated Tenth Amendment except that, in addition, the Borrower shall maintain, as at the end of each fiscal quarter, Eligible Receivables having a value equal to at least $32,000,000.
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Examples of Collateral Covenants in a sentence

  • Lender makes no representations or statements about the Custodian’s experience or qualifications to perform its obligations under the Collateral Covenants.

  • Collateral, Covenants, Representations and Warranties, Events of Default and other Terms: Same as Revolving Facility under the Existing Credit Agreement.

  • Further Assurances 2 Section 6.12 Additional Collateral Covenants 2 Section 6.13 Investment Proceeds, Etc 2 Section 6.14 Immediate Notice to the Administrative Agent.

  • If, as of any date, the Parent Credit Agreement is (y) terminated and has not yet been replaced, or (z) replaced by a financing which does not qualify under clause (x) of the preceding paragraph, then Guarantor shall continue to comply with all of the covenants contained in Article V of the Parent Credit Agreement (other than the Collateral Covenants, but in this case including the Negative Pledge Covenants) which are in effect as of the date immediately prior to such termination or replacement.

Related to Collateral Covenants

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • 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).

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Financial Covenant has the meaning specified in Section 7.08.