Guarantor Covenant Clause Samples
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Guarantor Covenant. Holdings shall not, directly or ------------------ indirectly, incur or remain or become directly or indirectly liable with respect to any Indebtedness except that Holdings (a) may guarantee (i) the Obligations, (ii) the Bridge Notes, Term Notes, Take-Out Securities and Exchange Notes and (iii) the indebtedness of the Borrower under the Senior Credit Facility and the other Credit documents, as defined in the Senior Credit Facility and (b) may incur Indebtedness in an aggregate principal amount not exceeding $5,000,000 outstanding at any time issued to repurchase its Capital Stock from former management employees in connection with their termination or departure (provided -------- that such Indebtedness is subordinated in right and time of payment to (i) through (iii) of (a) above on terms and conditions satisfactory to the Agent in its sole discretion (which terms and conditions may, at the sole discretion of the Agent, provided that such Indebtedness shall not mature or require any cash payment of principal or interest at any time prior to the first anniversary of the Tranche B Maturity Date as defined in the Senior Credit Facility)).
Guarantor Covenant. Until all of the Obligations have been paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below:
Guarantor Covenant. Until all of the Obligations have been ------------------ paid and satisfied in full and the Commitments terminated, unless consent has been obtained in the manner set forth in Section 15.11 hereof, during the Stage 2 Covenant Period the Company on a Consolidated basis will not, as of any fiscal quarter end during the applicable period set forth below, permit the Company Leverage Ratio to be greater than the corresponding ratio set forth below: ------------------------------------------------------------------------------- Period Ratio ------------------------------------------------------------------------------- Stage 2 Effective Date through 06/29/2004 10.00 to 1.00 06/30/2004 through 06/29/2005 8.00 to 1.00 06/30/2005 through 06/29/2006 6.00 to 1.00 06/30/2006 and thereafter 4.00 to 1.00 -------------------------------------------------------------------------------
Guarantor Covenant. Guarantor, by its execution of this Amendment, hereby covenants that: (i) if and to the extent it receives any payments or proceeds pursuant to the Agreement, it shall cause these proceeds and payments to be paid and applied as described in Section 4 above; and (ii) Guarantor's guarantee obligations under the Guarantee Agreement shall remain in full force and effect.
Guarantor Covenant. Section 2.9 of the Loan Agreement is deleted in its entirety and replaced with the following:
Guarantor Covenant. 69 ------------------
Guarantor Covenant. Guarantor covenants and agrees that during the term of the Loan, Guarantor shall make all required equity contributions to Borrower in order to cause Borrower to make such payments as are required by the terms of Section 2.3.2 of the Loan Agreement. A violation of the foregoing covenant shall be an Event of Default under the Loan Documents.
Guarantor Covenant. Upon payment in full of the Mezzanine Loan, Guarantor covenants and agrees that it shall, from time to time, contribute all Excess Cash Flow (as defined on Annex I annexed hereto and made a part hereof) to Borrower, up to the maximum amount that Borrower is required to pay Lender from time to time pursuant to Section 2.3.2 of the Loan Agreement), provided, the foregoing required Guarantor contribution amount shall be reduced by any amounts held by Borrower and that Borrower is permitted to use and uses to make payments on account of the Note as provided in the Loan Agreement. A violation of the foregoing covenant shall be an Event of Default under the Loan Documents.
Guarantor Covenant the financial statements in respect of the Guarantor delivered to the Agent pursuant to paragraph 6 of Schedule 4 (Financial Information) show that the net assets of the Guarantor (under deduction of any Financial Indebtedness of the Guarantor (but excluding any Financial Indebtedness owed to another member of the Group), are less than the aggregate amount of the Principal plus any Interest accrued but unpaid, in each case as at the date of those financial statements.