Loan Covenants. (a) Borrower will deliver, or cause to be delivered, to Lender:
(i) Borrower shall furnish or cause to be furnished to Lender within five (5) business days after Borrower is required to file the same with the Securities and Exchange Commission ("Commission"), copies of the periodic information, documents and other reports which Borrower is required to file with the Commission pursuant to Section 13(a) of the Exchange Act. If Borrower ceases to be required to file information, documents and other reports pursuant to Section 13 of the Exchange Act, it shall remain obligated to furnish the same information, documents and reports otherwise required under Section 13(a) of the Exchange Act to Lender within five (5) business days after Borrower would have been required to file the same with the Commission; and
(ii) Borrower shall furnish or cause to be furnished to Lender, within five (5) business days after the effective date thereof, copies of any amendment or modification to its By-Laws and Declaration of Trust.
(b) Borrower will at all times before the satisfaction of the Renewal Note maintain and keep in force substantially similar insurance coverages relating to its real property assets as maintained by Borrower as of the date of this Agreement, including but not limited to liability coverage of at least $2,000,000.00.
(c) Borrower shall pay, when due, all taxes, assessments and governmental charges or levies imposed upon it and all claims or demands of materialmen, mechanics, carriers, warehousemen, landlords and any other like person or entity which, if unpaid, might result in the creation of a lien upon the income of Borrower or its assets; provided that items of the foregoing description need not be paid while being contested in good faith and by appropriate proceedings.
(d) Borrower shall not make distributions to shareholders until such time as: (i) the Renewal Note is satisfied in full; (
Loan Covenants. The Company agrees that until all Obligations have been paid in full, the Company will not take any of the following actions without the consent of the Buyer:
(i) The Company will not create, incur, assume or have outstanding any indebtedness for borrowed money in excess of $50,000 incurred in the ordinary course of business.
(ii) The Company will not create, assume or suffer to exist any Liens upon any of its properties or assets, other than Permitted Liens. “Permitted Liens” shall mean statutory Liens for taxes, assessments and governmental charges or levies imposed upon the Company not yet due and payable or that are being contested in good faith by appropriate proceedings, liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance or other types of social security, or obligations in the ordinary course of business to pay rent or lease payments, liens securing purchase money security indebtedness or capital leases, existing Liens (as set forth on Schedule 5(p)(ii)), or easements or similar encumbrances.
Loan Covenants. The following covenants will apply during the term of the Loan. If any covenants are inserted below they do not limit the operation of any other part of this Agreement: [list any loan covenants]
Loan Covenants. In regard to the financial covenants set forth in paragraphs 6(d), (e) and (f) of the Loan Agreement, compliance with those financial covenants by Automotive One is hereby waived until the Maturity Date, PROVIDED, HOWEVER, that if Automotive One fails to meet the covenant in the following sentence, then Automotive One will be required to comply with such financial covenants commencing as of June 1, 1997. Automotive One further covenants and agrees that it will file with the Securities and Exchange Commission a registration statement under the Securities Act of 1933, as amended, for an initial public offering of its shares by no later than the Filing Date. Automotive One shall keep APS and AFCO advised as to the status of said filing and furnish APS and AFCO with copies of the filings as and when made.
Loan Covenants. MFFB shall not be obligated to make payments pursuant to Paragraphs 2 or 5, to the extent that such payments would exceed the consolidated federal income taxes (including estimated taxes) payable by Parent in respect of the Group, unless MFFB's ratio of "Net Indebtedness" to "Consolidated EBITDA" (as such terms are defined in the indenture for the senior secured notes due 2011 issued by MFFB (the "Indenture")) is less than 3.75:1.0 and MFFB is otherwise in compliance with the terms of the Indenture governing such senior secured notes. Any payments precluded by this provision shall nonetheless accrue and be payable when MFFB's ratio of "Net Indebtedness" to "Consolidated EBITDA" is less than 3.75:1.0 and MFFB is otherwise in compliance with the terms of the Indenture governing such senior secured notes. MFFB shall not make payments under this Agreement unless Parent shall have complied with the certification requirement of Section 4.10 of the Indenture.
Loan Covenants. (a) At all times while the indebtedness remains outstanding, the Loan to Value shall not exceed 65%, based upon the then most recent Appraised Value of the Mortgaged Property reviewed and found acceptable by the Maker.
(b) At all times while the indebtedness remains outstanding, the Maker shall maintain a "Debt Service Coverage Ratio" (as hereinafter defined) of not less than 1.30 to 1, to be tested semi-annually, as of June 30, 2004 and each subsequent December 31 and June 30 (the "Accounting Date"). Debt Service Coverage Ratio shall mean, for purposes herein, the ratio, as of any date of calculation, for the immediately preceding six (6) month period and the immediately succeeding six (6) month period, calculated by dividing: (a) the Net Operating Income for the preceding six (6) month period and the immediately succeeding six (6) month period; by (b) principal and interest payments based on a 25 year self liquidating mortgage amortization schedule, and the 10-year treasury rate plus 2.00% with a floor rate of 8.00% assuming a loan in the aggregate outstanding amount of the principal balance of this Note and the Original Note.
Loan Covenants. (a) At all times while the indebtedness remains outstanding, the outstanding Principal Amount shall not exceed 65% of the Appraised Value of the Mortgaged Property, based upon the then most recent Appraised Value of the Mortgaged Property reviewed and found acceptable by the Maker.
(b) At all times while the indebtedness remains outstanding, the Maker shall maintain a "Debt Service Coverage Ratio" (as hereinafter defined) of not less than 1.35 to 1, to be tested semi-annually, as of June 30, 2000 and each subsequent December 31 and June 30 (the "Accounting Date"). Debt Service Coverage Ratio shall mean, for purposes herein, the ratio, as of any date of calculation, for the immediately preceding six (6) month period and the immediately succeeding six (6) month period, calculated by dividing: (a) the Net Operating Income for the preceding six (6) month period and the immediately succeeding six (6) month period; by (b) principal and interest payments based on a 25 year self liquidating mortgage amortization schedule, and the 10-year treasury rate plus 2.00% with a floor rate of 8.50%.
Loan Covenants. Throughout the term of the Loan, Guarantor shall comply with all requirements and covenants of the Lease applicable to Guarantor, including, without limitation, Sections 14.5, 14.6, 14.9, and Article 23.
Loan Covenants. Under the 2015 Credit Agreement, the Company was required to meet certain financial tests, including a maximum Consolidated Leverage Ratio (as defined in the 2015 Credit Agreement) as determined by reference to the following ratio: July 1, 2015 and thereafter 3.75:1.00
Loan Covenants. For so long as the Purchaser holds the Note, the Company covenants and agrees with the Purchaser that, unless the Purchaser provides its prior written consent (not to be unreasonably withheld, conditioned or delayed):
