Covenant Violation definition

Covenant Violation means a violation by Recipient of the non- competition, non-solicitation, non-disclosure, or confidentiality provisions of any employment, non-disclosure, non-competition and/or non-solicitation agreement, or other agreement between Recipient and Cresco or any of its Subsidiaries.

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Covenant Violation. (as those terms are defined in the Escrow Agreement) as the Borrower shall have received an Investment Grade Rating.

Covenant Violation means (i) any breach or non-performance of any covenant of the Corporation contained in the Purchase Agreement, which breach or non-performance shall remain uncured for more than 120 days after such breach or non-performance has occurred or (ii) if and whenever the Corporation has failed to pay Dividends on the Series B-1 Preferred Stock for four quarterly Dividend Periods whether or not such Dividend Periods are consecutive (which shall, with respect to any such Dividend, mean that any such Dividend has not been paid in full).

Examples of Covenant Violation in a sentence

Any such qualifying ownership shall not be deemed to be engaging in Competitive Activity or a Restrictive Covenant Violation for purposes of this Agreement.
In recognition of this fact, the Participant agrees that, in the event of a Restrictive Covenant Violation, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to seek equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available.
In the event of a Material Covenant Violation or a Material Cooperation Violation by the Executive, any severance being paid to the Executive pursuant to this Agreement or otherwise shall immediately cease.
As a pre-condition to a Participant’s right to continued vesting following Retirement, the Committee, or its designee, may require the Participant to certify in writing prior to each applicable vesting date that no Restrictive Covenant Violation has occurred.
Notwithstanding the remedies set forth in Section 9 above and notwithstanding any other remedy that would otherwise be available to the Company at law or in equity, the Company and the Participant agree and acknowledge that if an actual or threatened Restrictive Covenant Violation occurs, the Company will be entitled to an injunction and/or other equitable relief restraining the Participant from the Restrictive Covenant Violation without the necessity of posting a bond or proving actual damages.
As a pre-condition to the Participant’s right to continued vesting following Retirement, the Committee, or its designee, may require the Participant to certify in writing prior to the applicable vesting date that no Restrictive Covenant Violation has occurred.
In the event of a Material Covenant Violation or a Material Cooperation Violation by the Executive, any severance being paid to the Executive pursuant to this Agreement or otherwise shall immediately cease unless otherwise prohibited by applicable law.
As a pre-condition to the Participant’s right to continued vesting following Retirement, the Committee or its designee, may require the Participant to certify in writing prior to the applicable vesting date that no Restrictive Covenant Violation has occurred.
As a pre-condition to the Participant’s right to continued vesting following Retirement, the Committee, or its designee, may require the Participant to certify in writing prior to each applicable vesting date that no Restrictive Covenant Violation has occurred.
The Committee or its designee may require the Participant to certify in writing prior to each applicable vesting date that no Restrictive Covenant Violation has occurred.

More Definitions of Covenant Violation

Covenant Violation is defined in Section 3-10.

Covenant Violation has the meaning given that term in Section 7.11.

Covenant Violation means (i) any breach or non-performance of any covenant of the Company contained in the Series B Cumulative Convertible Redeemable Preferred Stock Purchase Agreement, dated as of December 23, 2004 among Security Capital Preferred Growth Incorporated, the Company and the Partnership, which breach or non-performance shall remain uncured for more than 120 days after such breach or non-performance has occurred or (ii) if and whenever the Partnership has failed to pay Distributions on the Series B-1 Preferred Partnership Units for four quarterly Distribution Periods whether or not such Distribution Periods are consecutive (which shall, with respect to any such Distribution, mean that any such Distribution has not been paid in full).