Covenant Relief End Date definition

Covenant Relief End Date means the earlier of (a) January 1, 2018 and (b) the Business Day immediately following the date on which the Borrower delivers written notice to the Administrative Agent that the Borrower has elected that the Covenant Relief End Date occur on such Business Day and attaching an officer’s certificate confirming compliance with the covenants in Section 9.01 on a pro forma basis together with calculations showing such compliance in reasonable detail.
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Covenant Relief End Date means the earlier of (a) December 31, 2016 and (b) the Business Day immediately following the date on which the Borrower delivers written notice to the Administrative Agent that the Borrower has elected that the Covenant Relief End Date occur on such Business Day and attaching an officer’s certificate confirming compliance with the covenants in Section 9.01 on a pro forma basis together with calculations showing such compliance in reasonable detail.
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Covenant Relief End Date means the first (1st) date occurring on or after the Covenant Relief Financial Deliveries Date on which the Administrative Agent shall have received a Compliance Certificate demonstrating that (a) the Consolidated Net Leverage Ratio, as of the last day of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date, was not greater than 3.75 to 1.00, and (b) the Company was in compliance with Section 7.12 as of the last day of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.
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Examples of Covenant Relief End Date in a sentence

  • The Parent will not, as of any date of determination from and after the Eighth Amendment Effective Date up to and including the Covenant Relief End Date, permit its ratio of Senior Secured Funded Debt as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial statements are available to be greater than 3.0 to 1.0.

  • The Parent will not, as of any date of determination from and after the Fifth Amendment Effective Date up to and including the Covenant Relief End Date, permit its ratio of Senior Secured Funded Debt as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial statements are available to be greater than 3.5 to 1.0.

  • Thus, no spectrum related regulation is appropriate for satellite earth station operations.

  • Prior to the earlier to occur of (x) a Collateral and Guarantee Trigger Event and (y) the Covenant Relief End Date, the Borrower will not, and will not permit any Subsidiary to, declare or make, directly or indirectly, any Share Repurchase, or incur any obligation (contingent or otherwise) to do so, other than Permitted Share Repurchases.

  • The Parent will not, as of any date of determination after the Covenant Relief End Date, permit its ratio of Total Debt as of such date to EBITDAX for the most recent period of four fiscal quarters for which financial statements are available to be greater than 4.25 to 1.0.


More Definitions of Covenant Relief End Date

Covenant Relief End Date the first (1st) date occurring on or after the Covenant Relief Financial Deliveries Date on which the following conditions shall have been satisfied: (a) no Default or Event of Default shall have occurred and be continuing as of such date and (b) the Administrative Agent shall have received a Compliance Certificate of a Responsible Officer of the Company required by Section 5.2(b)(ii) demonstrating that (i) the Consolidated Leverage Ratio, as of the end of the period of four consecutive fiscal quarters of the Borrowers most recently ended on or prior to such date shall not be greater than 3.50 to 1.00 and (ii) the Borrowers were in compliance with Sections 6.1(a) and 6.1(b) as of the end of the period of four consecutive fiscal quarters of the Borrowers most recently ended on or prior to such date.
Sample 1
Covenant Relief End Date means the first (1st) date occurring on or after the Covenant Relief Financial Deliveries Date on which the following conditions shall have been satisfied: (a) no Default or Event of Default shall have occurred and be continuing as of such date and (b) the Administrative Agent shall have received a certificate of a Financial Officer of the Company required by Section 5.01(c) demonstrating that (i) the Leverage Ratio, as of the end of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date shall not be greater than 3.75 to 1.00 and (ii) the Company was in compliance with Sections 6.06 and 6.07 as of the end of the period of four consecutive fiscal quarters of the Company most recently ended on or prior to such date.
Sample 1
Covenant Relief End Date means the first (1st) date occurring on or after the Covenant Relief Financial Deliveries Date on which the following conditions shall have been satisfied: (a) no Default or Event of Default shall have occurred and be continuing as of such date and (b) the Administrative Agent shall have received a certificate of a Financial Officer of the Borrower required by Section 5.01(c) demonstrating that (i) the Leverage Ratio, as of the end of the period of four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date shall not be greater than 3.75 to 1.00 and (ii) the Borrower was in compliance with Sections 6.06 and 6.07 as of the end of the period of four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date.
Sample 1
Covenant Relief End Date means the first (1st) date occurring on or after the Covenant Relief Financial Deliveries Date on which the following conditions shall have been satisfied: (a) no Default or Event of Default shall have occurred and be continuing as of such date and (b) the Administrative Agent shall have received a certificate of a Financial Officer of the Borrower required by S ection 5.01(c) demonstrating that (i) the Leverage Ratio, as of the end of the period of four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date shall not be greater than 3.75 to 1.00 and (ii) the Borrower was in compliance with S ections 6.06 and 6 .07 as of the end of the period of four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date.
Sample 1

Related to Covenant Relief End Date

  • Covenant Relief Period means the period commencing on the Amendment No. 1 Effective Date and ending on and including December 31, 2022.

  • Eviction Relief Period means the term of this Agreement.

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

  • Covenant Suspension Event has the meaning assigned to such term in Section 4.19.

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal quarter of Borrower most recently ended prior to a Covenant Trigger Event for which Borrower is required to deliver to Administrative Agent quarterly or annual financial statements pursuant to Section 5.2 of this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (i) 10% of the Borrowing Limit, and (ii) $15,000,000 for 60 consecutive calendar days.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.

  • Extended Reporting Period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim has been made during the policy period.

  • 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 Performance Covenants means the covenants of the Borrower set forth in Section 10.11.

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Period End Date The 15th day of each calendar month, with Adjustment. Fixed Rate: [ ]%. Fixed Rate Day Count Fraction: 30/360. Floating Amounts: Floating Rate Payer: [ ]. Floating Rate Payer Payment Dates: The 15th day of each calendar month commencing on [ ], subject to adjustment in accordance with the Following Business Day Convention.

  • 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.

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • Non-Recourse Parties has the meaning provided in Section 12.16.

  • Covenant means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.

  • Waiver Period ’ means, for each applicable fee, the period of time from the initial effective date of the MIAX Emerald Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior

  • Repudiation/Moratorium Evaluation Date means, if a Potential Repudiation/Moratorium occurs on or prior to the Credit Observation End Date (i) if the Obligations to which such Potential Repudiation/Moratorium relates include Bonds, the date that is the later of (A) the date that is sixty days after the date of such Potential Repudiation/Moratorium and (B) the first payment date under any such Bond after the date of such Potential Repudiation/Moratorium (or, if later, the expiration date of any applicable Grace Period in respect of such payment date) and (ii) if the Obligations to which such Potential Repudiation/Moratorium relates do not include Bonds, the date that is sixty days after the date of such Potential Repudiation/Moratorium; provided that, in either case, the Repudiation/Moratorium Evaluation Date shall occur no later than the Credit Observation End Date unless the Repudiation/Moratorium Extension Condition is satisfied.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Repudiation/Moratorium Evaluation Date means, with respect to a Reference Entity in respect of which Potential Repudiation/Moratorium is stated to be applicable, if a Potential Repudiation/Moratorium occurs on or prior to the Credit Observation End Date (determined by reference to Greenwich Mean Time (or, if the relevant Standard is Japan or Japan Sovereign, Tokyo time)), (i) if the Obligations to which such Potential Repudiation/Moratorium relates include Bonds, the date that is the later of (A) the date that is 60 days after the date of such Potential Repudiation/Moratorium and (B) the first payment date under any such Bond after the date of such Potential Repudiation/Moratorium (or, if later, the expiration date of any applicable Grace Period in respect of such payment date) and (ii) if the Obligations to which such Potential Repudiation/Moratorium relates do not include Bonds, the date that is 60 days after the date of such Potential Repudiation/Moratorium; provided that, in either case, the Repudiation/Moratorium Evaluation Date shall occur no later than the Credit Observation End Date unless the Repudiation/Moratorium Extension Condition is satisfied.

  • Initial compliance period means the first full three-year compliance period which begins at least 18 months after promulgation, except for the following contaminants: Dichloromethane; 1,2,4-Trichlorobenzene; 1,1,2- Trichloroethane; Benzo[a]pyrene; Dalapon; Di(2-ethylhexyl adipate; Di(2-ethylhexyl) phthalate; Dinoseb; Diquat; Endothall; Endrin; Glyphosate; Hexachlorobenzene; Hexachlorocyclopentadiene; Oxamyl (Vydate); Picloram; Simazine; 2,3,7,8-TCDD (Dioxin); Antimony; Beryllium; Cyanide; Nickel; and Thallium, initial compliance period means the first full three-year compliance period after promulgation for systems with 150 or more service connections (January 1993 -December 1995) and first full three-year compliance period after the effective date of regulation (January 1996 - December 1998) for systems having fewer than 150 service connections.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Certification period means the period for which an individual is certified eligible for a program.

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