We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Financial Calculations and Covenant Compliance Sample Clauses

Financial Calculations and Covenant ComplianceOPTION 1: [Since _______________ (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the Closing Date, the Closing Date), Availability has at all times equaled or exceeded the greater of (i) 10% of the Loan Cap and (ii) $35,000,000.] OPTION 2: [Since ____________________ (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the Closing Date, the Closing Date), Availability has not at all times equaled or exceeded the greater of (i) 10% of the Loan Cap and (ii) $35,000,000. As of the date hereof, the Consolidated Fixed Charge Coverage Ratio for the trailing Twelve Month Period ending on the last day of the most recently ended month for which monthly or quarterly financial statements have been delivered or have been required to be delivered in accordance with Section 6.01 of the Credit Agreement is not less than 1.00 to 1.00, as set forth on Schedule 1 hereto.]
Financial Calculations and Covenant Compliance. (a) Since _______ __, _____ (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the last day of the Availability Block Period, the first day following the Availability Block Period), Availability has at all times equaled or exceeded (i) prior to (but excluding) the date that is thirty (30) months following the Restatement Effective Date, $25,000,000 and (y) from and after the date that is thirty (30) months following the Restatement Effective Date, $30,000,000. [Use following paragraph commencing with the Measurement Period ending on the last day of the Fiscal Month on or about May 31, 2025 and continuing for each of the applicable Measurement Periods ending on the last day of each Fiscal Month ending thereafter] (b) As of the last day of the Measurement Period ending _______ __, _____, the Consolidated Fixed Charge Coverage Ratio equals or exceeds 1.10 to 1.00 for such period. Attached hereto as Appendix II is a calculation of the Consolidated Fixed Charge Coverage Ratio. [Use following paragraph commencing on the last day of the Fiscal Quarter ending on or about October 31, 2024, and continuing as of the last day of each Fiscal Quarter ending thereafter, in each case, for the corresponding period then ending as of such date, as specified below] (c) As of the last day of each of the periods set forth below, Consolidated EBITDA equals or exceeds the corresponding amount set forth below for such date and period set forth below. Attached hereto as Appendix III is a calculation of Consolidated EBITDA. On or about October 31, 2024 (for the immediately preceding six (6) Fiscal Month period ending on such date) 80% of budgeted Consolidated EBITDA for such period set forth in the Approved 2025 Budget On or about January 31, 2025 (for the immediately preceding nine (9) Fiscal Month period ending on such date) 80% of budgeted Consolidated EBITDA for such period set forth in the Approved 2025 Budget On or about April 30, 2025 (for the Measurement Period ending on such date) 80% of budgeted Consolidated EBITDA for such period set forth in the Approved 2025 Budget On or about July 31, 2025 (for the Measurement Period ending on such date) $37,500,000 On or about October 31, 2025 (for the Measurement Period ending on such date) $40,000,000 On or about January 31, 2026 (for the Measurement Period ending on such date) $42,500,000 Each Fiscal Quarter endi...
Financial Calculations and Covenant Compliance. Since _______ __, _____ (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the Sixth Amendment Effective Date, the Sixth Amendment Effective Date), Availability has at all times equaled or exceeded the greater of (i) 10% of the Aggregate Loan Cap and (ii) $32,500,000.
Financial Calculations and Covenant Compliance. Since _______ __, _____ (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the Sixth Amendment Effective Date, the Sixth Amendment Effective Date), Availability has at all times equaled or exceeded the greater of (i) 10% of the Aggregate Loan Cap and (ii) the result of (x) $32,500,000 minus (y) the Covenant Reduction Amount. Attached hereto as Appendix II are reasonably detailed calculations necessary to determine the minimum Consolidated EBITDA for the most recently completed Measurement Period and compliance with Section 7.15 of the Credit Agreement1 Financial Statements.
Financial Calculations and Covenant Compliance. Since (the date of the last Compliance Certificate delivered pursuant to Section 6.02 of the Credit Agreement or, in the case of the first Compliance Certificate delivered after the Closing Date, the Closing Date), Availability has at all times exceeded the greater of (i) 10% of the Loan Cap and (ii) $50,000,000.

Related to Financial Calculations and Covenant Compliance

  • 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.

  • Financial Covenants Required Actual Complies Maintain as indicated:

  • Covenant Compliance the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.1 through Section 10.9, inclusive, during the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); and

  • Financial Covenant Required Actual Complies Maintain as indicated:

  • Covenant Compliance Certificate The Borrower shall, contemporaneously with the furnishing of the financial statements pursuant to Section 8.8, deliver to the Bank a duly completed compliance certificate, dated the date of such financial statements and certified as true and correct by an appropriate officer of the Borrower, containing a computation of each of the financial covenants set forth in Section 10 and stating that the Borrower has not become aware of any Event of Default or Unmatured Event of Default that has occurred and is continuing or, if there is any such Event of Default or Unmatured Event of Default describing it and the steps, if any, being taken to cure it.

  • Financial Condition Covenant Permit the Asset Coverage Ratio to be less than the Minimum Permitted Ratio; or in each case allow Indebtedness of the Borrower to exceed the limits set forth in the Borrower’s Prospectus or registration statement or allow Indebtedness to exceed the requirements of the 1940 Act.

  • 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 Condition Covenants The Borrower shall not:

  • 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:

  • 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: