Financial Covenant Compliance Date definition

Financial Covenant Compliance Date. The date of consummation of any Kindred Change of Control Transaction, the date of consummation of any Measurement Transaction, and each Quarterly Covenant Compliance Date.
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Financial Covenant Compliance Date means, at any time after the Eighth Amendment Effective Date, the last day of the most recent period of two consecutive fiscal quarters of the Borrower ended on or prior to such time in respect of which financial statements for each quarter or fiscal year in such period have been or are required to be delivered pursuant to Section 6.01(a) or 4 1994182-NYCSR07A - MSW
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Financial Covenant Compliance Date. Minimum Consolidated Net Worth", "Note," "Non-PIK Note," "PIK Portion," "Quarterly Payment Date" and "Subsequent Loan PIK Note" appearing in said Section and (y) inserting the following new definitions in alphabetical order:
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Examples of Financial Covenant Compliance Date in a sentence

  • At any time after the Financial Covenant Compliance Date, the Brookfield Liquidity Facility may be amended, modified, terminated or repaid in part or in full.

  • Subject to the satisfaction of the conditions set forth in Section 4 hereof, the following amendments to the Credit Agreement shall be in effect on and from the Eighth Amendment Effective Date and remain in effect until the occurrence of the Financial Covenant Compliance Date (as defined below).

  • Prior to the Fifth Amendment Financial Covenant Compliance Date, permit the aggregate Outstanding Amount of all Revolving Credit Loans plus the aggregate Outstanding Amount of all Swing Line Loans plus the aggregate Outstanding Amount of all L/C Obligations at any time to exceed the Collateral Coverage Sublimit.

  • Upon the occurrence of the Financial Covenant Compliance Date, the amendments in this Section 3 shall no longer be in effect and, except with respect to the amendments to the Credit Agreement in Sections 1 and 2 above, the terms of the Credit Agreement shall revert to those as in effect immediately prior to the Eighth Amendment Effective Date.

  • For any Revolving Credit Borrowing requested prior to the Fifth Amendment Financial Covenant Compliance Date, attached hereto as Annex I are calculations demonstrating that, after giving effect to such Revolving Credit Borrowing, the aggregate Outstanding Amount of all Revolving Credit Loans plus the aggregate Outstanding Amount of all Swing Line Loans plus the aggregate Outstanding Amount of all L/C Obligations will not exceed the Collateral Coverage Sublimit.


More Definitions of Financial Covenant Compliance Date

Financial Covenant Compliance Date means, at any time after the Eighth Amendment Effective Date, the last day of the most recent period of two consecutive fiscal quarters of the Borrower ended on or prior to such time in respect of which financial statements for each quarter or fiscal year in such period have been or are required to be delivered pursuant to Section 6.01(a) or (b), as applicable, on which the Total Net Leverage Ratio at the end of each of such fiscal quarters was less than 4.00:1:00. “Ninth Amendment Effective Date” means May 9, 2018. (f) The provisions of this Section 7.11 are for the benefit of the Revolving Credit Lenders only and the Required Revolving Credit Lenders may (a) amend, waive or otherwise modify this Section 7.11 or the defined terms used solely for purposes of this Section 7.11 or (b) waive any Default resulting from a breach of this Section 7.11, in each case under the foregoing clauses (a) and (b), without the consent of any Lenders other than the Required Revolving Credit Lenders in accordance with the provisions of Section 10.01.” SECTION 4.
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Financial Covenant Compliance Date and "Permitted Refinancing" appearing in said Section and (ii) inserting the following new definitions in appropriate alphabetical order in said Section:
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Financial Covenant Compliance Date means the earlier to occur of (x) that date on which the Borrower delivers to each of the Lenders an officer's certificate from the chief financial officer of the Borrower, which certificate shall demonstrate to the satisfaction of the Lenders the Borrower's compliance with Sections 6.07, 6.08 and 6.09 as if Sections 7 and 8 of the First Amendment, Sections 4, 5, 6 and 7 of the Second Amendment and Sections 5, 6, 7, 8 and 9 of the Third Amendment were not effective on such date, attach financial calculations (in reasonable detail) establishing such compliance and otherwise be in a form satisfactory to the Lenders and (y) that date on which the Borrower delivers to each of the Lenders an officer's certificate from the chief financial officer of the Borrower, which certificate shall (I) demonstrate to the satisfaction of the Lenders that the Borrower has achieved Consolidated EBITDA for the period of four consecutive fiscal quarters (taken as one accounting period) then last ended which, when Divested EBITDA for the Calculation Period then last ended is subtracted therefrom, equals at least $7,500,000 and (II) attach (a) financial calculations (in reasonable detail) establishing the amount of Consolidated EBITDA for the period of four consecutive fiscal quarters (taken as one accounting period) then last ended and (b) in the event a Significant Asset Sale was consummated during the respective Calculation Period or thereafter and on or prior to the respective Calculation Date, the financial calculations of a Qualified Accounting Firm setting forth the amount of the Divested EBITDA for the Calculation Period then last ended and otherwise be in a form satisfactory to the Lenders.
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Financial Covenant Compliance Date means the first date that BPR shall deliver a Compliance Certificate pursuant to Section 5.01(c) evidencing compliance with the financial covenants under Section 6.11 as in effect immediately prior to the First Amendment Effective Date for two consecutive Fiscal Quarters following the Covenant Relief Period Termination Date (other than any such compliance occurring as a result of the exercise of any Indebtedness Cure Right or EBITDA Cure Right).
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Financial Covenant Compliance Date. “Fixed Charge Coverage Ratio” and “Total Leverage Ratio”, such terms shall have the meanings assigned to them in Existing ML5 until the ARML No. 3 Payment Date and, from and after the ARML No. 3 Payment Date, shall have the meanings assigned to them in this Article.
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Financial Covenant Compliance Date appearing in Section 8.01 of the Loan Agreement is hereby amended by deleting the text "Sections 5, 6, 7, 8 and 9 of the Third Amendment were not effective" appearing in said definition and inserting the text "Sections 7, 8, 9, 10, 11 [and 12] of the Third Amendment were not effective" in lieu thereof.
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Related to Financial Covenant Compliance Date

  • Financial Covenant means the covenant set forth in Section 7.09.

  • 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.

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

  • Compliance Date means, in each case, the date by which compliance is required under the referenced provision of ARRA’s or HIPAA’s implementing regulations, as applicable.

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

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

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

  • 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.

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 8.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

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

  • 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.

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

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • 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.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • 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).

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Quarterly Compliance Certificate has the meaning specified in Section 4.1(d) of the Base Indenture.

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

  • Incurrence Covenant means 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) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

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

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

  • Financial Quarter means the period commencing on the day after one Quarter Date and ending on the next Quarter Date.