Covenant Adjustments Sample Clauses

Covenant Adjustments. Notwithstanding anything to the contrary in this Section 5, if the Indebtedness under the Bridge Loan Documents shall not have been paid in full by June 29, 2012, the Bridge Loan Documents terminated and all liens securing the Indebtedness thereunder terminated and/or released, then commencing with the fiscal quarter ending June 30, 2012 and as of each fiscal quarter thereafter, the financial covenants in Sections 5.1 and 5.3 above shall no longer be applicable and shall be replaced in their entirety by the covenants listed as Sections 5.1 and 5.3 on Schedule 5.6 attached hereto.
Sample 1
AutoNDA by SimpleDocs
Covenant Adjustments. Upon the consummation of either a Permitted -------------------- Sale or the sale of additional Equity Interests of Eltrax that result in at least $10,000,000 of net cash proceeds to the Borrowers, Borrowers shall deliver new financial projections to Agent within 14 days of such sale and the parties hereto shall agree upon revisions to the definition of "Applicable Margin" and to Section 6.5 to become effective 21 days after the delivery of the projections to Agent.
Sample 1
Covenant Adjustments. (i) Upon completion of any Permitted Acquisition, the minimum Consolidated EBITDA of the Borrower and its Subsidiaries required by ss.11.2 shall be increased by the Agent, in consultation with the Borrower, (i) for any Reference Period ended prior to the date of such Acquisition, by the amount of EBITDA of the acquired business for such Reference Period added to Consolidated EBITDA of the Borrower and its Subsidiaries pursuant to ss.11.6(a) and (c), and (ii) for all periods thereafter, by eighty percent (80%) of the amount of EBITDA of the acquired business, as reflected in the projections and pro-forma financial statements provided by the Borrower to the Agent (and approved by the Agent) and on the basis of which such Acquisition has satisfied the requirements for a Permitted Acquisition.
Sample 1
Covenant Adjustments. 24 ARTICLE IA CONSUMMATION OF TRANSACTION; TIMING AND EFFECTIVENESS 1A.01 Consummation of Transaction......................................24 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
Sample 1
Covenant Adjustments. 24 1.08 Exclusion of Certain Subsidiaries......................................24 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS 2.01 Committed Loans........................................................24 2.02 Borrowings, Conversions and Continuations of Committed Loans...........25 2.03 Letters of Credit......................................................26 2.04 Swing Line Loans.......................................................35 2.05 Prepayments............................................................38 2.06 Termination or Reduction of Commitments................................38 2.07 Repayment of Loans.....................................................39 2.08 Interest...............................................................39 2.09 Fees...................................................................40 2.10 Computation of Interest and Fees.......................................40 2.11 Evidence of Debt.......................................................41 2.12 Payments Generally; Administrative Agent's Clawback....................41 2.13 Sharing of Payments by Lenders.........................................43 2.14 Increase in Commitments................................................44 2.15 Designated Co-Borrowers; Joint and Several Liability; Borrowers' Waivers and Consents; Agency of B&N.......................45 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
Sample 1
Covenant Adjustments 
Sample 1Sample 2Sample 3See All (8)

Related to Covenant Adjustments

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Company asset, pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Unit Holder in complete liquidation of such Unit Holder’s interest in the Company, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Unit Holders in accordance with their interests in the Company in the event Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Unit Holder to whom such distribution was made in the event Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • CPI Adjustment The fixed fees and other fees expressed as stated dollar amounts in this schedule and in the Agreement shall be increased annually commencing on the one-year anniversary date of the Effective Date by the percentage increase since the Effective Date in consumer prices for services as measured by the United States Consumer Price Index entitled "All Services Less Rent of Shelter" or a similar index should such index no longer be published.

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

  • Prorations and Adjustments The following shall be prorated and adjusted between Seller and Purchaser as of the day of the Closing, except as otherwise specified:

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

Time is Money Join Law Insider Premium to draft better contracts faster.