Common use of Covenant Compliance Generally Clause in Contracts

Covenant Compliance Generally. For purposes of determining compliance under Sections 10.1, 10.2, 10.3, 10.5 and 10.6, any amount in a currency other than Dollars will be converted to Dollars based upon the Dollar Amount thereof. Notwithstanding the foregoing, for purposes of determining compliance with Sections 10.1, 10.2 and 10.3, with respect to any amount of Indebtedness or Investment in a currency other than Dollars, no breach of any basket contained in such sections shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Indebtedness or Investment is incurred; provided that for the avoidance of doubt, the foregoing provisions of this Section 1.10 shall otherwise apply to such Sections, including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections.

Appears in 5 contracts

Samples: Credit Agreement (Beacon Roofing Supply Inc), Credit Agreement (Beacon Roofing Supply Inc), Restatement and Lender Joinder Agreement (Beacon Roofing Supply Inc)

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Covenant Compliance Generally. For purposes of determining compliance under Sections 10.1, 10.2, 10.3, 10.5 and 10.6, any amount in a currency other than Dollars will be converted to Dollars based upon the Dollar Amount thereof. Notwithstanding the foregoing, for purposes of determining compliance with Sections 10.1, 10.2 and 10.3, with respect to any amount of Indebtedness or Investment in a currency other than Dollars, no breach of any basket contained in such sections shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Indebtedness or Investment is incurred; provided that for the avoidance of doubt, the foregoing provisions of this Section 1.10 shall otherwise apply to such Sections, including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections.. 38

Appears in 1 contract

Samples: Intercreditor Agreement (Beacon Roofing Supply Inc)

Covenant Compliance Generally. For purposes of determining compliance under Sections 10.19.1, 10.29.2, 10.39.3, 10.5 9.5 and 10.69.6, any amount denominated in a currency other than Dollars an Alternative Currency will be converted to Dollars based upon the Dollar Equivalent Amount thereofof such amount. Notwithstanding the foregoing, for purposes of determining compliance with Sections 10.19.1, 10.2 9.2 and 10.39.3, with respect to any amount of Indebtedness or Investment denominated in a currency other than Dollarsan Alternative Currency, no breach of any basket contained in such sections shall be deemed to have occurred solely as a result of changes in rates of exchange Exchange Rates occurring after the time such Indebtedness or Investment is incurred; provided that for the avoidance of doubt, the foregoing provisions of this Section 1.10 shall otherwise apply to such Sections, including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections.

Appears in 1 contract

Samples: Credit Agreement (Great Lakes Dredge & Dock CORP)

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Covenant Compliance Generally. For purposes of determining compliance under Sections 10.18.1, 10.28.2, 10.38.3, 10.5 8.5 and 10.68.6, any amount in a currency other than Dollars will be converted to Dollars based upon in a manner consistent with that used in calculating Consolidated Net Income in the Dollar Amount thereofmost recent annual Financial Statements. Notwithstanding the foregoing, for purposes of determining compliance with Sections 10.18.1, 10.2 8.2 and 10.38.3, with respect to any amount of Indebtedness or Investment in a currency other than Dollars, no breach of any basket contained in such sections shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time such Indebtedness or Investment is incurred; provided that for the avoidance of doubt, the foregoing provisions of this Section 1.10 1.9 shall otherwise apply to such Sections, including with respect to determining whether any Indebtedness or Investment may be incurred at any time under such Sections.

Appears in 1 contract

Samples: Credit Agreement (Zoe's Kitchen, Inc.)

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