Existing Financial Covenants Sample Clauses
The 'Existing Financial Covenants' clause defines the financial obligations and performance metrics that a party, typically a borrower, must continue to meet under an agreement. This clause references covenants already established in prior agreements, such as maintaining certain debt-to-equity ratios or minimum cash reserves, and ensures these requirements remain in force throughout the term of the new contract. Its core function is to maintain financial discipline and protect the interests of the lender or counterparty by preventing the relaxation of previously agreed financial standards.
Existing Financial Covenants. Schedule II hereto sets forth a list of all Material Indebtedness of CFC or any Significant Subsidiary the documentation with respect to which includes a Financial Covenant which is more onerous than, or materially different from (it being understood that a quarterly Debt to Equity Ratio with respect to CFC shall not under any circumstances be deemed to be "materially different from" the Financial Covenant contained in Section 8.1), the Financial Covenant contained in Section 8.1, together with a complete and correct transcription of the text of each such Financial Covenant.
Existing Financial Covenants. From and after the Effective Date, Guarantor shall not be required to maintain compliance with the financial covenants described in Sections 2(c)(i)-(ii) of the 2012 Loan Modification Agreement, Sections 2(c)(i)-(iii) of the 2011 Loan Modification Agreement or Section 2(c) of the 2009 Loan Modification Agreement.
Existing Financial Covenants. Subject to and upon the terms and conditions set forth herein and in reliance upon the representations, warranties, and covenants of Borrower contained herein or made pursuant hereto, U. S. Bank hereby waives all previous violations of the Tangible Net Worth covenant, Working Capital covenant, Debt Service Coverage Ratio, and Senior Debt Ratio covenant set forth in Sections 8.15 through 8.18 of the Credit Agreement through and including January 30, 1998. U. S. Bank and Borrower agree to enter into an amendment to the Credit Agreement on or before January 30, 1998, resetting such financial covenants to a level that is acceptable to U. S.
Existing Financial Covenants. In connection with the foregoing, any "Events of Default" heretofore occurring (and presently continuing) in respect of any of the "Financial Covenants" defined and described as such in the Original Credit Agreement are hereby waived by Lenders.
Existing Financial Covenants. The Agent and the Lenders agree that the Borrower shall not have to comply with the financial covenants set forth in Section 6.11 of the Credit Agreement for any quarter ending during the period beginning on the Effective Date and ending on the earlier of the Expiration Date or the Termination Date, and that any failure to do so shall not constitute a Default or Event of Default.