Financial Covenant definition
Examples of Financial Covenant in a sentence
Notwithstanding anything to the contrary contained herein, upon the occurrence and during the continuance of any Specified Event of Default or, upon request of the Required Revolving Lenders while any Financial Covenant Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.
Section 1.1 Defined Terms 1 Section 1.2 Other Interpretive Provisions 54 Section 1.3 Accounting Terms; Calculation of Financial Covenant and Other Financial Ratios and Terms.
Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of the Financial Covenant) contained herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall be disregarded.