MFL Provision definition

MFL Provision means any covenant (whether constituting a covenant or an event of default) that requires the Company or any Subsidiary to (i) maintain any level of financial performance (including without limitation, any specified level of net worth, total assets, cash flows or net income, however expressed), (ii) maintain any relationship of any component of its capital structure to any other component thereof (including, without limitation, the relationship of indebtedness, senior indebtedness or subordinated indebtedness to total capitalization or to net worth, however expressed), (iii) maintain any measure of its ability to service its indebtedness (including, without limitation, exceeding any specified ratio of revenues, cash flow or income to interest expense, rental expense, capital expenditures and/or scheduled payments of indebtedness, however expressed) or (iv) not to exceed any maximum level of indebtedness, however expressed.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

MFL Provision means any covenant (whether constituting a covenant or an event of default) that requires the Company or any Subsidiary to

MFL Provision is defined in Section 9.10(a).

Examples of MFL Provision in a sentence

Any such MFL Provision, whether in effect on the date of the Closing or thereafter, is and shall be deemed automatically incorporated by reference into this Agreement (an “Additional Provision”), mutatis mutandis, as if set forth fully herein, effective as of the date when such MFL Provision is or shall have become effective under such Material Credit Facility.
Any such MFL Provision, whether in effect on the date hereof or hereafter, is and shall be deemed automatically incorporated by reference into this Agreement (an “Incorporated Provision”), mutatis mutandis, as if set forth fully herein, effective as of the date when such MFL Provision is or shall have become effective under 2014 Credit Agreement.
Notwithstanding the foregoing, Section 8.10(a) of the Bank Credit Agreement as in effect on the Effective Date shall not be an MFL Provision unless and until such provision is amended after the Effective Date and, subject to clause (b) of this Section 9.9, provided that any Incorporated Provision resulting from such amendment shall preserve the 0.25 spread in the ratios between Section 8.10(a) of the Bank Credit Agreement and Section 10.13(a) in effect on the Effective Date.
Any such MFL Provision, whether in effect on the Effective Date or hereafter, is and shall be deemed automatically incorporated by reference into this Agreement (an “Incorporated Provision”), mutatis mutandis, as if set forth fully herein, effective as of the date when such MFL Provision is or shall have become effective under such MFL Agreement.

More Definitions of MFL Provision

MFL Provision shall have the meaning provided in Section 5.21.

MFL Provision means any covenant (whether constituting a covenant or an event of default) that requires the General Partner, the Company or any Subsidiary to (i) maintain any level of debt service with respect to unencumbered assets or (ii) limits or restricts the payment of dividends; provided, that, for the avoidance of doubt, as of the date of Closing, a MFL Provision shall include the “Unencumbered Asset Pool Debt Service Coverage” and “Dividends” covenants set forth in Section 5.8(e) and (f), respectively, of the Bank Credit Agreement.

MFL Provision means any (a) covenant (whether constituting a covenant or an event of default) that requires the Company or any Subsidiary to (i) maintain any level of financial performance (including without limitation, any specified level of net worth, total assets, cash flows or net income, however expressed), (ii) maintain any relationship of any component of its capital structure to any other component thereof (including, without limitation, the relationship of indebtedness, senior indebtedness or subordinated indebtedness to total capitalization or to net worth, however expressed), (iii) maintain any measure of its ability to service its indebtedness (including, without limitation, exceeding any specified ratio of revenues, cash flow or income to interest expense, rental expense, capital expenditures and/or scheduled payments of indebtedness, however expressed) or (iv) not to exceed any maximum level of indebtedness, however expressed; provided, that a MFL Provision shall not include any level of fixed charge coverage or measurement of borrowing availability based on “Unencumbered Pool Property” (or similar term) determinations or valuations under the Primary Credit Facility or (b) threshold in any “cross-default”, “cross acceleration” or “judgment” event of default.