Bank Covenants definition

Bank Covenants means the agreed performance guidelines set for your Bank Facilities (if any);
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Bank Covenants means the agreed performance guidelines set for your BankFacilities (if any);
Sample 1Sample 2Sample 3
Bank Covenants means the covenants contained in any agreements, instruments or documents under which the Company or its subsidiaries have or are permitted to borrow funds, the compliance of which will be determined by the Company’s Compensation Committee or its designee in the Compensation Committee’s sole discretion.
Sample 1

Examples of Bank Covenants in a sentence

  • Without limiting Clauses 4.1 and 9.1 in the Standard Terms, if you have exceeded your Maximum PoA Limit you must within 14 days of our request disclose to us such other financial information as we reasonably require about you (including information about your monthly management accounts, Bank Covenants, Bank Facilities and your and your partners and/or directors loan agreements and details of other assets and liabilities) and about Contract Work (and any other work secured by us).

  • Bond Bank Covenants The Bond Bank covenants and agrees that it will faithfully perform at all times any and all covenants, undertakings, stipulations and provisions contained in the Indenture, in any and every Bond executed, authenticated and delivered under the Indenture and in all of its related proceedings.

  • The margins attributable to these Revolving Credit Facilities mirror those attributable to the revised term loan facilities.During the year the Group comfortably met the Bank Covenants attached to the banking facilities.

  • Staff also completed four thematic reviews on Bank Covenants, Income Tax reporting, Business Combinations and the impact of IFRS 15 on Revenue from Contracts with Customers.

  • Next 10 Top Performers▪ Discretionary awards must be performance driven = pay for themselves▪ Establish performance metric(s) and threshold hurdles1) ROE, ROI, EBITDA /adjustments …2) Bank Covenants …Creating Long-Term Value for Companies & Their Executives: Case StudyEstablish Performance Metric Award RangesFulcrum Partners designs are based on flexible platforms that will allow changes as required to drive desired performance.

  • Following questions, it was confirmed that:• Creditors had increased due to the profile of funding;• Debtors had increased due to activity within the first term;• The ESFA Other Income of £164k related to the grant towards the increase in teachers pension costs and that this would not automatically reoccur; and• The Bank Covenants had been met within the period.

  • Bank Covenants and FacilitiesWe remain comfortably within our facility covenants with Adjusted Leverage (as measured by facility agreement) of 0.9x and interest cover of 27x.

  • The Finance and Resources Committee considered a paper [Paper M76] by the Chief Financial Officer on OfS Approval of Financial Forecasts and Update on Bank Covenants and Associated Risk Appetite Statement.

  • Financial performance, observing those items reviewed elsewhere on the agenda (Minute 3.2.1 refers) and noting:  That whilst the year to date financial position showed some slight variances the College remained on target to achieve its financial objective for the year of a budgeted out-turn of £300k  Expectations of remaining compliant with Bank Covenants and on track in achievement of the objective of staff costs as a percentage of income.

  • Bank Covenants: It is recognized that Contractor must comply with the financial covenants established by its banks and lending institutions.


More Definitions of Bank Covenants

Bank Covenants means the agreed performance guidelines set foryour Bank Facilities (if any);
Sample 1

Related to Bank Covenants

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Covenants means the covenants set forth in Section 4 of this Agreement. To acknowledge your agreement to and acceptance of the terms and conditions of this Agreement, please sign below in the space provided within five (5) days of the date of this Agreement and return a singed copy to my attention. If the Agreement is not signed and returned within (5) days, the terms and conditions of this Agreement will be deemed withdrawn. Sincerely, MEDQUIST INC. By: /s/ Xxxx Xxxxxxx Xxxx Xxxxxxx, President Accepted and Agreed: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

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

  • Tax Covenant means the covenant relating to tax set out in Schedule 6;

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Financial Covenant has the meaning specified in Section 7.08.

  • 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).

  • 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.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Default Effect means multiplying the Outstanding Balance as of the date the applicable Event of Default occurred by (a) 15% for each occurrence of any Major Default, or (b) 5% for each occurrence of any Minor Default, and then adding the resulting product to the Outstanding Balance as of the date the applicable Event of Default occurred, with the sum of the foregoing then becoming the Outstanding Balance under this Note as of the date the applicable Event of Default occurred; provided that the Default Effect may only be applied three (3) times hereunder with respect to Major Defaults and three (3) times hereunder with respect to Minor Defaults; and provided further that the Default Effect shall not apply to any Event of Default pursuant to Section 4.1(b) hereof.

  • Waiver Period ’ means, for each applicable fee, the period of time from the initial effective date of the MIAX Emerald Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior

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

  • Forbearance Period means the period beginning on the date hereof and ending on the Forbearance Termination Date.

  • 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 Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • Restrictive Covenant Agreements is defined in the Recitals.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Covenant Relief Period means the period commencing on the Amendment No. 3 Effective Date and ending on (but excluding) the Covenant Relief Period Termination Date.

  • Forbearance Termination Date means the earlier to occur of (i) the closing of a Transaction; (ii) October 31, 2001, or (iii) the date upon which the Forbearance Default occurs.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Existing Defaults means (i) all Existing Defaults (as that term is defined in the Forbearance Agreements) and defaults with respect to other matters stated in the Forbearance Agreements, and (ii) the 2005 Tax Default.

  • Restrictive Covenant has the meaning set forth in Section 6(c).

  • (2) In this subsection, the term fundraising’ means