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.
Sample 1

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.

  • Currently China supplies 95% of rare earth magnets – the key component of turbine generators.

  • Credit & Collateral Covenants for New QFsIOUs to delete debt to equity ratio, 2nd lien and covenants related to 2d lien, including Exh.

  • Seller shall in all events remain liable to SCE for any amount payable by Seller in respect of any of its obligations remaining unpaid after any such liquidation, application and set off.7.06 Credit and Collateral Covenants.

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

  • Traditionally, creditanalysis has rested on what is known as the “4 C’s of Credit”: Capacity, Collateral, Covenants, and Character.

  • Collateral, Covenants and Restrictions Our obligations under the Senior Credit Facility are secured by substantially all of our consolidated subsidiaries' assets, including certain real estate.In addition, all of our subsidiaries are joint and several guarantors of, and our ownership interests in those subsidiaries are pledged to collateralize, our obligations under the Senior Credit Facility.

  • 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.

  • The remaining FAA obligations, such as Exclusive Rights, Revenue Use, Civil Rights, are extinguished upon closure.

  • Collateral, Covenants and Restrictions Our obligations under the 2017 Senior Credit Facility are secured by substantially all of our and our consolidated subsidiaries' assets, excluding real estate.

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 means the covenant set forth in Section 7.09.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Collateral Call means a notice to a Participant that additional Collateral, or possibly early payment, is required in order to remain in, or to regain, compliance with Tariff, Attachment Q. Commencement Date:

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Collateral Pool means the aggregate total of the Collateral.

  • Collateral Requirement means the requirement that:

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Collateral costs as used in this clause, means agency cost of operation, maintenance, logistic support, or Government-furnished property.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • 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.

  • Collateral Quality Test means a test that is satisfied if, as of any date of determination, in the aggregate, the Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with Section 1.3:

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • U.S. Collateral Agreement means the U.S. Guarantee and Collateral Agreement, as amended, supplemented or otherwise modified from time to time, in the form of Exhibit E, among Holdings, Intermediate Holdings, the U.S. Borrower, each Domestic Subsidiary Loan Party and the Collateral Agent.

  • Guarantee Requirement means, at any time, the requirement that:

  • Collateral Security Documents Any document or instrument given to secure or guaranty the Mortgage Loan, including without limitation, the Mortgage, each as amended, supplemented, assigned, extended or otherwise modified from time to time.