Incurrence Covenants definition

Incurrence Covenants means a covenant by any Obligor to comply with one or more financial covenants only upon the occurrence of certain actions of, or events relating to, the Obligor, including but not limited to a debt issuance, dividend payment, share purchase, manager, acquisition or divestiture.
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Incurrence Covenants substantially the same as the New Senior Note Indenture
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Examples of Incurrence Covenants in a sentence

  • Any Obligor or Material Company suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of its business except as a result of a Disposal which is permitted under “Limitation on Sale of Assets” of Schedule 15 (Incurrence Covenants Schedule) or a Permitted Transaction.

  • This Agreement and any non-contractual obligations arising out of or in connection with it are governed by English law and shall be construed and enforced in accordance with English law provided that Schedule 15 (Incurrence Covenants Schedule) shall be interpreted in accordance with the law of the State of New York without prejudice to the fact that this Agreement is governed by English law and that such Schedule 15 (Incurrence Covenants Schedule) shall also be enforced in accordance with English law.

  • The Company shall ensure that an amount equal to the amount of the Facility (if any) which is required to be prepaid under clause 6 (Limitation on Asset Sales) of Schedule 15 (Incurrence Covenants Schedule) is applied in prepayment and cancellation of the Facility at the times and in the order of application contemplated by Clause 10.4 (Application of mandatory prepayments).

  • In addition to the covenants contained in this Clause 25 (General Undertakings), the Company and each Obligor covenant and agree as set forth in Schedule 15 (Incurrence Covenants Schedule) hereto.

  • An obligation, the Underlying Instruments for which do not (i) contain any financial covenants or (ii) require the Portfolio Asset Obligor thereunder to comply with any Maintenance Covenants (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Instruments).

  • In the event that any amendments are made to the agreed form of the Senior Secured Notes Documents between the date hereof and the Closing Date, the Parties agree that the provisions of Schedule 15 (Incurrence Covenants Schedule) shall be amended to reflect such changes.

  • An obligation, the Underlying Instruments for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenants (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Instruments).

  • Cov-Lite Loan: An obligation, the Underlying Instruments for which do not (i) contain any financial covenants or (ii) require the Obligor thereunder to comply with any Maintenance Covenants (regardless of whether compliance with one or more Incurrence Covenants is otherwise required by such Underlying Instruments).