Minimum Asset Coverage Covenants Clause Samples
Minimum Asset Coverage Covenants. By not later than June 20, 2008, the Credit Parties shall not fail to execute and deliver to Agent an amendment to this Agreement amending subsection (e) of Annex G to provide Minimum Asset Coverage and Maximum Coverage Percentage levels for the period from June 21, 2008 through April 30, 2012 that are satisfactory to Agent in its sole discretion (it being understood that to the extent no such amendment is executed, no changes will be made to the covenant levels set forth in subsection (e) of Annex G as in effect on the Seventh Amendment Effective Date).”
(d) Annex A of the Credit Agreement, Definitions, is hereby amended and modified by adding the following new definitions thereto, in appropriate alphabetical order, to read in its entirety as follows:
Minimum Asset Coverage Covenants. By not later than June 20, 2008, the Credit Parties shall not fail to execute and deliver to Agents an amendment to this Agreement amending Section 6.7(e) to provide Minimum Asset Coverage and Maximum Coverage Percentage levels for the period from June 21, 2008 through April 30, 2012 that are satisfactory to Agents in their sole discretion (it being understood that to the extent no such amendment is executed, no changes will be made to the covenant levels set forth in Section 6.7(e) as in effect on the Seventh Amendment Effective Date).”