Specified Financial Covenant definition

Specified Financial Covenant as defined in Section 8.2.
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Specified Financial Covenant is defined in Section 5.20(d).
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Specified Financial Covenant is defined in Section 13.4(a).
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Examples of Specified Financial Covenant in a sentence

  • To the extent that Curative Equity is received and included in the calculation of the Specified Financial Covenant as deemed EBITDA or additional Current Assets, as applicable, for any fiscal quarter pursuant to this Section 5.20(d), such Curative Equity shall be deemed to be EBITDA or additional Current Assets, as applicable, for purposes of determining compliance with the Specified Financial Covenant for subsequent periods that include such fiscal quarter.

  • In the event Borrower does not cure the Specified Financial Covenant violation as provided in this Section 5.20(d), the existing Event(s) of Default shall continue unless waived in writing by Administrative Agent or the requisite Lenders in accordance with this Agreement.

  • This Guaranty shall terminate upon the satisfaction in full by Infocrossing or the Guarantors of all of the Guaranteed Obligations.

  • Upon the receipt of Curative Equity pursuant to this Section 8.02 and inclusion of such Curative Equity in the calculation of Consolidated EBITDA pursuant to this Section 8.02, then no Event of Default solely with respect to determining compliance with the Specified Financial Covenant shall be deemed to have occurred.

  • Concurrently with its receipt of the net cash proceeds of Curative Equity, Borrower shall deliver to Agent an updated Compliance Certificate confirming receipt of the Curative Equity and the calculation of the Specified Financial Covenant in reasonable detail giving effect to the Curative Equity as part of EBITDA.

  • Upon the receipt of Curative Equity pursuant to this Section 8.02 and inclusion of such Curative Equity in the calculation of Consolidated Liquidity pursuant to this Section 8.02, then no Event of Default solely with respect to determining compliance with the Specified Financial Covenant shall be deemed to have occurred.

  • If Borrower wishes to exercise an Equity Cure Right, (i) notice of Xxxxxxxx’s intent to exercise an Equity Cure Right shall be delivered no later than ten (10) days after the date the Compliance Statement calculating such Specified Financial Covenant is required to be delivered pursuant to Section 5.3(c), and (ii) an Equity Cure Right is limited to twice within each trailing four (4) quarter period, and three (3) times during the term of this Agreement.

  • Upon receipt by Borrower of any Financial Covenant Cure in connection with a Specified Financial Covenant Default under Section 7.1(a) from the issuance of Equity Cure Securities in accordance with Section 7.2, Borrower shall prepay the outstanding principal amount of the Loans in accordance with Section 2.4(f) in an amount equal to such Financial Covenant Cure.

  • Additionally, concurrently with delivery of each such Officer’s Certificate with respect to the last fiscal quarter of the Covenant Relief Period and the first two fiscal quarters following the Covenant Relief Period, the Parent Guarantor shall provide the holders of the Notes (for informational purposes only) its calculation of each applicable Specified Financial Covenant for the trailing-twelve month period ended on the last date of such fiscal quarter.

  • Borrower shall (i) notify Agent of its intent to cure a breach of the Specified Financial Covenant with the net cash proceeds contributed to Borrower from an investment in respect of, or in exchange Qualified Equity Interests (“ Curative Equity”), which notice (the “Cure Notice”) shall be delivered together with the delivery of the Compliance Certificate, and (ii) promptly notify Agent of its receipt of any proceeds of Curative Equity.


More Definitions of Specified Financial Covenant

Specified Financial Covenant has the meaning specified therefor in Section 9.3(a) of the Agreement.
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Specified Financial Covenant has the meaning set forth in Section 8.2. Credit Agreement and Guaranty – Page 25
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Specified Financial Covenant has the meaning specified therefor in Section 9.3(a) of this Agreement. "Specified Financial Month" has the meaning specified therefor in Section 9.3(a) of this Agreement. "Specified Transaction" means, any Investment, prepayment of Indebtedness or Restricted Payment (or declaration of any prepayment or Restricted Payment). "Sponsor" means CSL Capital Management, CSL Energy Opportunities Fund II, L.P., CSL Energy Holdings II, LLC and their Affiliates. "Sponsor Affiliated Entity" means Sponsor or any of its Affiliates (other than Loan Parties or their Subsidiaries and other than operating portfolio companies of Sponsor and its Affiliates). "Standard Letter of Credit Practice" means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit. "Subsidiary" of a Person means a corporation, partnership, limited liability company, or other entity in which that Person directly or indirectly owns or controls the Equity Interests having ordinary voting power to elect a majority of the Board of Directors of such corporation, partnership, limited liability company, or other entity. "Supermajority Lenders" means, at any time, Revolving Lenders having or holding more than 66 2/3% of the aggregate Revolving Loan Exposure of all Revolving Lenders; provided, that (i) the Revolving Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the Supermajority Lenders, and (ii) at any time there are two or more Revolving Lenders (who are not Affiliates of one another), "Supermajority Lenders" must include at least two Revolving Lenders (who are not Affiliates of one another or Defaulting Lenders). "Supported QFC" has the meaning specified therefor in Section 17.15 of this Agreement. "Swap Obligation" means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a "swap" within the meaning of section 1a(47) of the Commodity Exchange Act. "Swing Lende...
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Specified Financial Covenant if they receive the cash proceeds of an investment of Curative Equity on or before the date that is ten (10) Business Days after the date that is the earlier to occur of (i) the date on which the Compliance Certificate is delivered to Agent in respect of the Fiscal Quarter with respect to which any such breach occurred (the “Specified Financial Quarter”), and (ii) the date on which the Compliance Certificate is required to be delivered to Agent pursuant to Section 5.2(a) in respect of the Specified Financial Quarter (such earlier date, the “Financial Statement Delivery Date”); provided, that Borrowers’ right to exercise the Cure Right shall be contingent on their timely delivery of such Compliance Certificate and financial statements for the Specified Financial Quarter as required under Section 5.1.
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Related to Specified Financial Covenant

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

  • Financial Covenants means the covenants set forth in Section 6.2.

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

  • 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).

  • Pro Forma Basis means, for purposes of calculating compliance with any test, financial ratio or financial covenant required by the terms of this Agreement to be made on a Pro Forma Basis, for any period, a basis assuming that any applicable transaction giving rise to such requirement or any Permitted Acquisition that has been consummated, and the following transactions in connection therewith, that have been made during the applicable period of measurement, or subsequent to such period and prior to or simultaneously with the event for which the calculation is made, shall be deemed to have occurred as of the first day of the applicable period of measurement in the calculation of compliance with such test, financial ratio or financial covenant. In connection with the foregoing: (a) income statement items (whether positive or negative) attributable to the property or Person subject to any such Permitted Acquisition shall be included, (b) any Indebtedness which is retired by the Borrower or any of its Restricted Subsidiaries in connection therewith shall be excluded and deemed to have been retired as of the first day of the applicable period, and (c) any Indebtedness incurred or assumed by the Borrower or any of its Restricted Subsidiaries in connection therewith shall be deemed to have been incurred as of the first day of the applicable period, and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination, and interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period.

  • Specified Acquisition means one or more acquisitions of assets, equity interests, entities, operating lines or divisions in any fiscal quarter for an aggregate purchase price of not less than $200,000,000 (it being understood that such consideration shall be determined based on the payment made at the time of the transaction, without regard to any subsequent or earnout payments).

  • Pro Forma Adjusted EBITDA shall have the meaning assigned to such term in Section 3.05(a).

  • Consolidated Adjusted EBITDA means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.