Affirmative Financial Covenants Sample Clauses

Affirmative Financial Covenants. The Borrowers shall comply with the following financial covenants, (the "Financial Covenants") at all times during the term of the Loans. The Financial Covenants shall be tested by the Lender on a calendar quarter basis, i.e. September 30, December 31, March 31 and June 30 of each calendar year during the term of the Loans. The Borrower shall deliver to the Lender within forty-five (45) days after the end of each calendar quarter, schedules setting forth in such detail as may reasonably be required by the Lender, a computation of the Financial Covenants and certified by the Chief Executive Officer or the Chief Financial Officer of Borrowers to be true and correct. The Affirmative Financial Covenants are as follows:
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Affirmative Financial Covenants. (1) The ratio of (a) Consolidated EBITDA of the Issuer and its Subsidiaries (less the Consolidated EBITDA of the US Parent and its Subsidiaries if on the applicable date specified below any Junior Notes are outstanding) to (b) Consolidated Gross Finance Charges of the Issuer and its Subsidiaries (less the Consolidated Gross Finance Charges of the US Parent and its Subsidiaries plus any Consolidated Gross Finance Charges paid or payable to the Issuer and the Non-US Subsidiaries by the US Parent and its Subsidiaries, if on the applicable date specified below any Junior Notes are outstanding) shall, on each date specified below and calculated for the Relevant Period ending on such date, equal or exceed the applicable ratio set out opposite such date: (2) The ratio of (a) Consolidated Indebtedness of the Issuer and its Subsidiaries (less the Consolidated Indebtedness of the US Parent and its Subsidiaries if on the applicable date specified below any Junior Notes are outstanding and in each case excluding the Junior Notes) to (b) Consolidated EBITDA of the Issuer and its Subsidiaries (less the Consolidated EBITDA of the US Parent and its Subsidiaries except for an amount equivalent to any dividends that have been paid in cash from the US Parent and its Subsidiaries to the Issuer and the Non-US Subsidiaries if on the applicable date specified below any Junior Notes are outstanding) shall, on each date specified below and calculated using (i) Consolidated Indebtedness of the Issuer and its Subsidiaries (less the Consolidated Indebtedness of the US Parent and its Subsidiaries if on the applicable date specified below any Junior Notes are outstanding and in each case excluding the Junior Notes) on such date and (ii) Consolidated EBITDA of the Issuer and its Subsidiaries (less the Consolidated EBITDA of the US Parent and its Subsidiaries except for an amount equivalent to any dividends that have been paid in cash from the US Parent and its Subsidiaries to the Issuer and the Non-US Subsidiaries if on the applicable date specified below any Junior Notes are outstanding) for the Relevant Period ending on such date, not exceed the applicable ratio set out opposite such date: (b) The financial ratios required to be maintained pursuant to subclauses (1) and (2) of clause (a) of this Section 4.01 shall be calculated by dividing the appropriate component by the other component (in each case expressed in whole British pound sterling amounts), carrying the result to two decim...
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Affirmative Financial Covenants. The Obligors, on a consolidated basis, shall: (i) maintain a Fixed Charge Coverage Ratio not less than that specified below at the end of each Fiscal Quarter specified, which, for the Fiscal Quarters ending June 30, September 30 and December 31, 2001, shall be determined on a cumulating basis for the periods of three (3), six (6) and nine (9) months, respectively, so ending, and, for each Fiscal Quarter thereafter shall be determined for the period of four consecutive Fiscal Quarters ending with such Fiscal Quarter specified below: Fiscal Quarter Ratio -------------- ----- (i) Ending June 30, 2001 0.80 (ii) Ending September 30, 2001 1.45 (iii) Ending December 31, 2001 1.00 (iv) Ending March 31, 2002 1.00 (v) Ending June 30, 2002 1.00 (vi) Ending September 30, 2002 0.85 (vii) Ending December 31, 2002 1.00 (viii) Ending March 31, 2003 1.00 (ix) Ending June 30, 2003 1.00 (x) Ending September 30, 2003 1.00 (xi) Thereafter 1.00 (ii) maintain at the end of each Fiscal Quarter identified below, a leverage ratio of Adjusted Funded Debt (as defined below) to cumulative EBITDA for the period of four consecutive Fiscal Quarters ending with such Fiscal Quarter (calculated on an annualized basis for the first three Fiscal Quarters indicated), not greater than the ratio specified below. For this purpose, (A) in relation to each Fiscal Quarter, "Adjusted Funded Debt" shall mean Funded Debt on the last day of such Fiscal Quarter, reduced by the aggregate amount of cash received by the Obligors from General Motors Corporation during the relevant period of five (5) Business Days after the last day of such Fiscal Quarter, and (B) for the Fiscal Quarters ending June 30 2001, September 30, 2001 and December 31, 2001 the EBITDA for such Fiscal Quarters shall be multiplied by four (4), two (2) and four thirds (4/3), respectively, to obtain the cumulative EBITDA for such Fiscal Quarters. Fiscal Quarter Ratio -------------- ----- (i) Ending June 30, 2001 3.80 (ii) Ending September 30, 2001 3.10 (iii) Ending December 31, 2001 3.45 (iv) Ending March 31, 2002 3.30 (v) Ending June 30, 2002 3.00 (vi) Ending September 30. 2002 3.00 (vii) Ending December 31, 2002 2.90 (viii) Ending March 31, 2003 2.90 (ix) Ending June 30, 2003 2.90 (x) Ending September 30, 2003 2.50 (xi) Thereafter 2.50 77
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Affirmative Financial Covenants. During the Term: (i) Minimum Tangible Net Worth. On the last day of each fiscal quarter of Tenant, Consolidated Tangible Net Worth shall not be less than the sum of $1,000,000,000.00.
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Affirmative Financial Covenants. Maintain gross cash and cash equivalents exceeding US$2,000,000 at any time.
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Affirmative Financial Covenants. For so long as the Revolver Commitment is outstanding and thereafter until payment in full of the Obligations, Borrowers covenant that, unless otherwise consented to by Lender in writing and subject to SECTION 9.3.3 hereof, they shall:
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Affirmative Financial Covenants. Electroglas shall comply with the requirements set forth in Part II of Schedule 2.
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Affirmative Financial Covenants. Borrower shall until payment in full of all Obligations to Lender and termination of this Agreement (a) cause to be maintained at the end of each fiscal quarter (i.e., December, March, June and September), Tangible Net Worth in an amount not less than $1,500,000; and (b) cause to be maintained at the end of each fiscal quarter, Working Capital of not less than $12,500,000.
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Affirmative Financial Covenants 
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Related to Affirmative Financial Covenants

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • Special Covenants If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13 or 5.15 hereof.

  • Certain Financial Covenants In addition to the covenants described in Section 5.1 and Section 5.2, so long as any Commitment remains in effect, any Advance is outstanding or any amount is owing to any Lender hereunder or under any other Loan Document, the Borrower will perform and comply with each of the covenants set forth on Schedule VI.

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit:

  • Financial Covenants (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association, as soon as available, but in any case not later than six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records, accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or payment out of the Special Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

  • Compliance with Financial Covenants Schedule A attached hereto sets forth financial data and computations evidencing the Borrower’s compliance with certain covenants of the Agreement, all of which data and computations are true, complete and correct.

  • to Compliance Certificate Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated:

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

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