LTV Covenant definition

LTV Covenant has the meaning given to that term in Clause 26.1 (Financial definitions).
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LTV Covenant means the undertaking of the Issuer set out in Clause 26.2(c) (Financial condition).
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LTV Covenant means the undertaking of the Borrower set out in paragraph (c) of Clause 24.2 (Financial condition).
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Examples of LTV Covenant in a sentence

  • Notwithstanding anything to the contrary in this Section 8.1(a), in no event shall the Credit Parties be permitted to cure more than three (3) LTV Covenant Defaults during the term of this Agreement.

  • The provisions of this Section 9.18.2 shall not apply, and there shall be no cure right, if there is any continuing Event of Default at the time of the breach of the LTV Covenant.

  • If an LTV Covenant Default would occur as provided in Section 8.1(a) of the Financing Agreement, then Elastic shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account.

  • LTV Covenant as defined in Section 9.18.1. MAI shall mean Member of the Appraisal Institute.

  • If Lender determines, based on Borrower’s appraisal, or other information submitted by Borrower, that Borrower’s determination of the Value of Property (i) does not result in a breach in the LTV Covenant, the funds held by Lender shall be returned to Borrower, or (ii) results in a lesser paydown amount being required to cure Borrower’s LTV Covenant, the cure amount required shall be retained by Lender and the excess refunded to Borrower.

  • Borrower shall have the right to cure the breach of the LTV Covenant by making a prepayment of principal under the Note sufficient to restore the LTV Covenant.

  • If an LTV Covenant Default would occur as provided in Section 8.1(a) of the Financing Agreement, then EFF shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account.

  • For the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred as a result of non-compliance with the Maximum LTV Covenant unless the foregoing actions shall not have been taken on or prior to the last day of the Cure Period.

  • In the event that any Appraisal obtained by Lender pursuant to the terms of this Agreement reveals an Appraised Value which would result in a breach of the LTV Covenant, Lender shall promptly notify Borrower.

  • Any breach of the LTV Covenant or Debt Service Covenant which is not cured within the applicable cure periods set forth in Section 9.18.


More Definitions of LTV Covenant

LTV Covenant. Period LTV Ratio Commencing with the Test Period ending on March 31, 2020 through and including the Test Period ending on June 30, 2020 2.50:1.00 Commencing with the Test Period ending on September 30, 2020 through and including the Test Period ending on December 31, 2020 2.00:1.00 For the Test Period ending on March 31, 2021 1.50:1.00 Commencing with the Test Period ending on June 30, 2021 through and including the Test Period ending on December 31, 2021 1.25:1.00 Commencing with the Test Period ending on March 31, 2022 and for each Test Period thereafter 1.00:1.00
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LTV Covenant has the meaning given to such term in Clause 15.1 (LTV Covenant) of the Issuer/Borrower Facility Agreement;
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LTV Covenant shall have the meaning provided in Section 7.19(b).
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