Financial Covenant Default definition

Financial Covenant Default means (i) a failure to comply with any of the Financial Covenants or (ii) the taking of any action by the Borrower or any Restricted Subsidiary if such action was prohibited hereunder solely due to the existence of a Financial Covenant Default of the type described in clause (i) of this definition.
Financial Covenant Default means a default in the due observance or performance of any covenant, condition or agreement set forth in any of Sections 6.10, 6.11 or 6.12 of the Senior Credit Agreement as in effect on the date hereof and without giving effect to any amendment, waiver, supplement, termination or other modification to the Senior Credit Agreement made after the date hereof, except that if any of Sections 6.10, 6.11 or 6.12 of the Senior Credit Agreement is amended or waived prior to the termination of the Senior Credit Agreement, then references herein to such Sections shall give effect to such amendment or waiver.
Financial Covenant Default means a Default arising out of any Borrower’s failure to comply with any covenant provided under Section 7.3 of this Agreement.

Examples of Financial Covenant Default in a sentence

The term "NON-COVENANT DEFAULT" means an Event of Default other than a Financial Covenant Default.

Baker prompt notice of any Event of Default or Financial Covenant Default under the Loan Agreement or any of the other Loan Documents of which the Bank becomes aware but the failure of the Bank to promptly deliver any such notice will not affect any of the rights or obligations of the parties under this Agreement.

Notwithstanding any provision contained herein or in any other Loan Document to the contrary, Bank shall have the absolute right to refuse to make, and shall be under no obligation to make, any further Advances upon the occurrence and during the continuance of any Payment Default, any Financial Covenant Default or any Incurable Default.

Upon a Payment Default, or upon a Financial Covenant Default or Other Default of which the Company is aware, the Company shall give prompt written notice of such event to the Noteholders.

The limited waiver contained in this Section 1 is a one-time waiver applicable solely to the Subject Financial Covenant Default, but to no other Default and no Event of Default.


More Definitions of Financial Covenant Default

Financial Covenant Default means a Default under Section 8.11.
Financial Covenant Default means a Default arising out of any breach of any covenant provided under Section 7.3 of this Agreement.
Financial Covenant Default means any Event of Default that occurs by reason of a breach by Borrower with respect to any of the Financial Covenants.
Financial Covenant Default means the occurrence of either of the following:
Financial Covenant Default means a Default under Section 11(c) for failure to comply with Section 10.6(a) or 10.6(b).
Financial Covenant Default means a failure to comply with the covenants set forth in Section 6.1. It is understood and agreed that this definition may not be amended without the written consent of the Requisite Revolving Lenders.
Financial Covenant Default means an Event of Default under Section 10.8(a), (b) or (c).