Financial Covenants under Mandalay Loan Documents Sample Clauses

Financial Covenants under Mandalay Loan Documents. In the event that any of the financial covenants contained in the Mandalay Revolving Loan Agreement (the parties hereto acknowledge and agree that for purposes of this clause (cc) the term ‘financial covenants’ shall be deemed to refer to the total debt ratio covenant and interest coverage ratio covenant set forth in Sections 6.11 and 6.12 of the Mandalay Revolving Loan Agreement as of the date hereof) is amended, modified or waived by the parties to said Mandalay Revolving Loan Agreement, or any additional financial covenant not set forth herein is incorporated into the Mandalay Revolving Loan Agreement, then and in such event Mandalay shall concurrently therewith provide notice to such effect to the Trustee, the Collateral Agent and each Lender, and the financial covenants set forth herein shall automatically be deemed amended, modified or waived to the same effect as in the Mandalay Revolving Loan Agreement, or such additional financial covenant shall automatically be deemed to be incorporated into this Agreement by reference. In connection with any amendment, modification or waiver of the Mandalay Revolving Loan Agreement as described in the preceding sentence, the Lease Obligors shall pay to each Lender any amendment fee, modification fee, waiver fee or similar fee to be paid to the banks party to said Mandalay Revolving Loan Agreement; provided, however that no amendment fee, modification fee, waiver fee or similar fee shall be payable to any Lender by any Lease Obligor pursuant this clause (cc) in connection with an amendment, modification or waiver of the Mandalay Revolving Loan Agreement consummated prior to December 31, 2003 pursuant to which the lien covenant contained in Section 6.8(i) thereof is amended, modified or waived to permit Mandalay to consummate the second Advance Date (such amendment, modification or waiver may also amend, modify or waive other provisions, including, but not limited to, the financial covenants contained therein). In the event that Mandalay and/or any of its Subsidiaries enters into any Replacement Loan Agreement, which agreement contains financial covenants which are less restrictive (in the reasonable opinion of the Required Lenders) than those then in effect under the Operative Documents, then and in such event, upon the written consent of each Lender (not including each Lender that has elected to be prepaid pursuant to the immediately succeeding sentence) such financial covenants shall automatically be deemed to ...
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Related to Financial Covenants under Mandalay Loan Documents

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit:

  • 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: ____________________

  • 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.

  • 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.

  • 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:

  • Other Defaults Under Loan Documents Any Loan Party shall default in the performance of or compliance with any term contained in this Agreement or any of the other Loan Documents, other than any such term referred to in any other subsection of this Section 8, and such default shall not have been remedied or waived within 30 days after the earlier of (i) an Officer of Company or such Loan Party becoming aware of such default or (ii) receipt by Company and such Loan Party of notice from Administrative Agent or any Lender of such default; or

  • 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 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.

  • 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:

  • Other Defaults Under Credit Documents Any Credit Party shall default in the performance of or compliance with any term contained herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1, and such default shall not have been remedied or waived within thirty days after the earlier of (i) an officer of such Credit Party becoming aware of such default or (ii) receipt by Borrower of notice from Administrative Agent or any Lender of such default; or

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