Minimum Revenue Covenant definition

Minimum Revenue Covenant has the meaning set forth in Section 10.02.
Sample 1Sample 2
Minimum Revenue Covenant has the meaning set forth in Section 10.02. “Minimum Revenue Cure Right” has the meaning set forth in Section 11.04(a). “Mortgage Deliverables” has the meaning set forth in Section 8.11(b)(iv).
Sample 1

Examples of Minimum Revenue Covenant in a sentence

  • To the extent the Borrower has made no less than $20,000,000 in Revenue Cure Payments in any calendar year, no breach of the Minimum Revenue Covenant in such calendar year shall constitute an Event of Default hereunder.

  • In furtherance of the immediately preceding sentence, the Borrower hereby acknowledges and agrees that the aforementioned percentage used to calculate the Proposed Fiscal Year 2016 Minimum Revenue Covenant may be adjusted by Bank in its good faith business judgment to take into consideration any material circumstances which could reasonably be expected to have a material impact on the financial condition of the Borrower and its Subsidiaries, taken as a whole.

  • For the avoidance of doubt, for purposes of the Minimum Revenue Covenant, Revenue shall only include Igalmi U.S. product net revenues but exclude EUA contract revenues.

  • The provisions of Section 4 "Restrictive Covenants" shall survive termination of this Agreement.

  • Bank’s agreement to waive the Minimum Revenue Covenant Violation shall in no way obligate Bank to make any other modifications to the Loan Agreement or to waive Borrower’s compliance with any other terms of the Loan Documents, and shall not limit or impair Bank’s right to demand strict performance of all other terms and covenants as of any date.

  • Collateral Agent’s and Lenders’ waiver of the Borrower’s compliance with the Minimum Revenue Covenant shall apply only to the Specified Period.

  • In furtherance of the immediately preceding sentence, Borrower hereby acknowledges and agrees that the criteria used to calculate the Updated Minimum Revenue Covenant may be adjusted by Bank in its good faith business judgment to take into consideration any material circumstances which could reasonably be expected to have a material impact on the financial condition of the Borrower and its Subsidiaries, taken as a whole.

  • Minimum Revenue Covenant under the Credit Agreement to be deferred until Q4 2024, and levels to be reset as set forth on Annex I to this Exhibit A.

Related to Minimum Revenue Covenant

  • 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.

  • 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.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

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

  • Minimum Interest Charge has the meaning given in Section 2.2(b).

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

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

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

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

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

  • 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).

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

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

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

  • Covenant Relief Period means the period commencing on the Amendment No. 1 Effective Date and ending on and including December 31, 2022.

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • 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.

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

  • 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.

  • TTM EBITDA means, as of any date of determination, EBITDA of Borrower determined on a consolidated basis in accordance with GAAP, for the 12 month period most recently ended.