Covenant Failure Period definition

Covenant Failure Period. The period (x) beginning upon the failure of Tenant to satisfy the Financial Covenant for two (2) consecutive Test Periods as determined on the last day of two (2) consecutive fiscal quarters (e.g., if Tenant fails to satisfy the Financial Covenant for the Test Periods ending on September 30, 2022 and December 31, 2022, the Covenant Failure Period would begin on December 31, 2022) and (y) ending upon a Covenant Security Coverage Cure with respect to such failure.
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Covenant Failure Period shall have the meaning set forth in Section 10.03.
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Covenant Failure Period. The period beginning upon the failure of the Financial Covenant or the Listing Covenant and ending upon a Covenant Security Coverage Cure with respect to such failure.
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Examples of Covenant Failure Period in a sentence

  • Notwithstanding anything to the contrary contained herein, the failure to timely deliver a Preliminary Financial Covenant Compliance Report or Final Financial Covenant Compliance Report shall commence a Covenant Failure Period.

  • Notwithstanding anything to the contrary contained herein, the failure to timely deliver a Preliminary Financial Covenant Report or Final Financial Covenant Report shall commence a Covenant Failure Period.

Related to Covenant Failure Period

  • Service Failure means a failure by the Contractor to provide the Services in accordance with any individual service level described above (measured on a monthly/quarterly/annual basis)

  • Public Information Failure Payments shall have the meaning ascribed to such term in Section 4.3(b).

  • Public Information Failure shall have the meaning ascribed to such term in Section 4.3(b).

  • Observation Period means, in respect of an Interest Period, the period from, and including, the date falling "p" London Banking Days prior to the first day of such Interest Period (and the first Interest Period shall begin on and include the Interest Commencement Date) and ending on, but excluding, the date which is p London Banking Days prior to the Interest Payment Date for such Interest Period (or the date falling p London Banking Days prior to such earlier date, if any, on which the Notes become due and payable);