Common use of Financial Covenant Cure Clause in Contracts

Financial Covenant Cure. Notwithstanding anything to the contrary set forth in Section 10.5(a) hereof, in the event Borrowers fail to comply with the maximum Total Net Leverage Ratio covenant contained in Section 6.5(c) hereof (a “Specified Financial Covenant Default”), Borrowers shall have the right to cure such Specified Financial Covenant Default on the following terms and conditions (the “Cure Right”):

Appears in 2 contracts

Samples: Credit and Security Agreement (Quantum Corp /De/), Credit and Security Agreement (Quantum Corp /De/)

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Financial Covenant Cure. Notwithstanding anything to the contrary set forth in Section 10.5(a) hereof, in the event Borrowers fail to comply with the maximum Total Net Leverage Ratio covenant or Total Leverage Ratio covenantscovenant contained in Section 6.5(c) or 6.5(d) hereof (a “Specified Financial Covenant Default”), Borrowers shall have the right to cure such Specified Financial Covenant Default on the following terms and conditions (the “Cure Right”):

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Quantum Corp /De/)

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Financial Covenant Cure. Notwithstanding anything to the contrary set forth in Section 10.5(a) hereof, in the event Borrowers fail to comply with the maximum Total Net Leverage Ratio covenant or Total Leverage Ratio covenants contained in Section 6.5(c) or 6.5(d) hereof (a “Specified Financial Covenant Default”), Borrowers shall have the right to cure such Specified Financial Covenant Default on the following terms and conditions (the “Cure Right”):

Appears in 1 contract

Samples: Security Agreement (Quantum Corp /De/)

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