EBITDA Covenant definition

EBITDA Covenant has the meaning specified therefor in the Fee Letter. “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. “EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. “Eligible Accounts” means those Accounts (other than Credit Card Receivables) created by a Borrower in the ordinary course of its business, that arise out of such Borrower’s sale of goods or rendition of services, that comply with each of the representations and warranties respecting Eligible Accounts made in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address the results of any information with respect to the Borrowers’ business or assets of which Agent becomes aware after the Closing Date, including any field examination performed by (or on behalf of) Agent from time to time after the Closing Date. In determining the amount to be included, Eligible Accounts shall be calculated net of customer deposits, unapplied cash, taxes, finance charges, service charges, discounts, credits, allowances, and rebates. Eligible Accounts shall not include Credit Card Receivables or the following: (a) (i) Accounts with selling terms of not more than 60 days that the Account Debtor has failed to pay within 120 days of original invoice date or 60 days of due date, or (ii) Accounts with 18 125672876_9 151541717_6
Sample 1
EBITDA Covenant is defined in Section 6.9(a).
Sample 1
EBITDA Covenant has the meaning given to such term in Section 4(g) of the Guaranty Agreement.
Sample 1

Examples of EBITDA Covenant in a sentence

  • The interest cover covenant requires a ratio of Covenant EBITDA: Covenant interest payable above 3.5:1 and the leverage ratio requires Covenant net debt: Covenant EBITDA below 4.0:1.

  • Covenant EBITDA: Covenant EBITDA is a measure that includes pro forma adjustments for acquisitions, one-time charges, permitted dispositions and other items, as defined in the Company's Credit Agreement.

  • Net debt272.6248.823.8 Net debt (under debt facility terms)1224.7210.813.9Leverage ratio: Net debt / EBITDA Covenant <4.25x 3.2x 2.6x Interest cover ratio: EBITDA / interest Covenant >3x 7.7x 7.9x Shareholder’s fundsCovenant > A$600mA$754mA$776m 1.

  • Covenant EBITDA: Covenant EBITDA is a measure that includes pro forma adjustments for acquisitions, one- time charges, permitted dispositions and other items, as defined in the Company's Credit Agreement.

  • Subsequently a Specified Forbearance Termination Event occurred in that the Borrowers failed to meet the required Minimum Consolidated EBITDA Covenant set forth in Section 7(d) of the Credit Agreement.

  • Table 4Analysis of the Net Debt/EBITDA covenantCovenantsAnalysis of Net Debt / EBITDA Covenant Full Sample Firms with no Breach of Firms that Breached a Covenant MeanNotes.

  • Notwithstanding the additional liquidity received from the BCAP Loan and the HASCAP Facility during the summers of 2020 and 2021, BCAN underperformed against the Revised Budget and continued to experience liquidity constraints and failed to meet its EBITDA Covenant.

  • Borrower will not permit ("EBITDA Covenant") Borrower's EBITDA to be less than (a) as of June 30, 2012, $2,400,000 calculated for the two (2) consecutive Fiscal Quarters then ending, and (b) as of September 30, 2012, $3,700,000 calculated for the two (2) consecutive Fiscal Quarters then ending.

  • This earnings release includes Adjusted EBITDA, Covenant Adjusted EBITDA, and Free Cash Flow metrics that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (GAAP).

  • Not only that, but Defendants filed many of these marks, including LUCIANA and PRINCESS LUCIANA without any design specimen or concept attached.


More Definitions of EBITDA Covenant

EBITDA Covenant has the meaning given in Section 5.10.
Sample 1
EBITDA Covenant means the covenant of the Borrower set forth in Section
Sample 1

Related to EBITDA Covenant

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Financial Covenant has the meaning specified in Section 7.08.

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

  • Incurrence Covenant A covenant by any borrower to comply with one or more financial covenants only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • EBITDAX means, for any period, the sum of Consolidated Net Income for such period plus the following expenses or charges to the extent deducted from Consolidated Net Income in such period: interest, income taxes, depreciation, depletion, amortization, exploration expenses and other similar noncash charges, minus all noncash income added to Consolidated Net Income.

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • TTM EBITDA means, as of any date of determination, EBITDA of Borrower determined on a consolidated basis in accordance with GAAP, for the 12 month period most recently ended.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • 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).

  • 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.

  • EBITDAR means, for any applicable period, the consolidated net income or loss of a Person on a consolidated basis for such period, determined in accordance with GAAP, provided, however, that without duplication and in each case to the extent included in calculating net income (calculated in accordance with GAAP): (i) income tax expense shall be excluded; (ii) interest expense shall be excluded; (iii) depreciation and amortization expense shall be excluded; (iv) amortization of intangible assets shall be excluded; (v) write-downs and reserves for non-recurring restructuring-related items (net of recoveries) shall be excluded; (vi) reorganization items shall be excluded; (vii) any impairment charges or asset write-offs, non-cash gains, losses, income and expenses resulting from fair value accounting required by the applicable standard under GAAP and related interpretations, and non-cash charges for deferred tax asset valuation allowances, shall be excluded; (viii) any effect of a change in accounting principles or policies shall be excluded; (ix) any non-cash costs or expense incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement shall be excluded; (x) any nonrecurring gains or losses (less all fees and expenses relating thereto) shall be excluded; (xi) rent expense shall be excluded; and (xii) the impact of any deferred proceeds resulting from failed sale accounting shall be excluded. In connection with any EBITDAR calculation made pursuant to this Agreement or any determination or calculation made pursuant to this Agreement for which EBITDAR is a necessary component of such determination or calculation, (i) promptly following request therefor, CEC shall provide Propco with all supporting documentation and backup information with respect thereto as may be reasonably requested by Propco, (ii) such calculation shall be as reasonably agreed upon between Propco and CEC, and (iii) if Propco and CEC do not agree within twenty (20) days of either party seeking to commence discussions, the same may be determined by arbitration in accordance with Section 4 hereof.

  • Adjusted Consolidated EBITDA means, for any Computation Period, Consolidated EBITDA for such Computation Period adjusted by giving effect on a pro forma basis to Acquisitions and dispositions completed during such Computation Period.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

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

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

  • Covenant Relief Period means the period commencing on the Amendment No. 3 Effective Date and ending on (but excluding) the Covenant Relief Period Termination Date.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

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

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.