Failure to Comply with Financial Covenants Sample Clauses

Failure to Comply with Financial Covenants the Parent fails to comply with the covenants specified in clause 10.1(a) or (b) of this agreement;
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Failure to Comply with Financial Covenants. The Borrower breaches, is in default under or fails to achieve or comply with any of the Borrower's covenants or obligations under Section 5 of this Agreement.
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Failure to Comply with Financial Covenants. Borrower acknowledges that during the months ending July 31, 2018 and August 31, 2018, it failed to comply with the financial covenants set forth in paragraphs (i) and (ii) on Schedule 6.17 of the Loan Agreement resulting in an Event of Default under Section 8.2.1 of the Loan Agreement (the “Specified Defaults”).
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Failure to Comply with Financial Covenants. The failure of the Borrower to perform, observe or comply with any covenant, condition or agreement contained in Section 6.1.13 (Financial Covenants).
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Failure to Comply with Financial Covenants. (a) If SPV fails to comply with any provision of Section 7.9 (other than Sections 7.9(a) and (b)), it shall be a Level Two Event of Default. (b) If SPV fails to comply with Section 7.9(a), it shall be a Level Three Event of Default. (c) If SPV fails to comply with Section 2.1(b) on any Business Day, it shall be a Level One Event of Default. If SPV fails to restore compliance with Section 2.1(b) by 4:30 p.m. (Eastern time) on the Business Day following the day for which the failure to comply with Section 2.1(b) occurred, it shall be a Level Two Event of Default. If SPV fails to comply with Section 2.1(b) more than two (2) times within any period of twenty-five (25) consecutive Business Days, Bank may, in its sole discretion, increase the amount of the Minimum Required Balance and Average Minimum Required Balance by an amount up to $50,000,000 each, upon each such failure by SPV to comply with Section 2.1(b) in such time period. (d) If SPV fails to be in compliance with Section 7.9(b) it shall be a Level One Event of Default. If SPV fails to restore its compliance with Section 7.9(b) within fourteen (14) days of the date of such failure, calculated for the 30 days then ended at the time tested, it shall be a Level Two Event of Default. (e) If SPV fails to comply with Section 3.2(b), it shall be a Level Four Event of Default.
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Related to Failure to Comply with Financial Covenants

  • 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.

  • 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.

  • 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:

  • 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.

  • Reporting Covenants Required Complies Monthly Compliance Statement Monthly within 30 days Yes No Quarterly financial statements Quarterly within 30 days Yes No Annual financial statements (CPA Audited) FYE within 120 days Yes No 10-Q, 10-K and 8-K Within 5 days after filing with SEC Yes No Board approved projections FYE within 60 days Yes No

  • Financial Covenants Required Actual Complies Maintain as indicated:

  • Financial Condition Covenants The Borrower shall not:

  • 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.

  • REPORTING COVENANTS The Borrower agrees with the Lenders, the Issuers and the Administrative Agent to each of the following, as long as any Obligation or any Revolving Credit Commitment remains outstanding and, in each case, unless the Requisite Lenders otherwise consent in writing:

  • 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.

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