New Financial Covenants Sample Clauses

New Financial Covenants. The Credit Agreement is hereby amended by adding new Subsections 6.22 through 6.26 as follows:
Sample 1Sample 2Sample 3See All (4)
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New Financial Covenants. On or before January 1, 2006, the Borrower and the Lender shall agree on the new dollar amount for such covenant levels for Section 6.2(a), Section 6.2(b) and Section 6.2(c) for periods after such date. The new Financial Covenants will be based on the Borrower’s projections for such periods and shall be no less stringent than the present Financial Covenants, but if the Borrower and the Lender do not agree after good faith negotiations, the Lender may designate the required amounts in its sole discretion and the failure by the Borrower to maintain the designated amounts shall constitute an Event of Default.”
Sample 1See All (4)
New Financial Covenants. From and after the Amendment Effective Date, Section 7.11 is hereby amended to add the following additional covenants in the designated sequence to Section 7.11 of the Credit Agreement:
Sample 1
New Financial Covenants. On or before August 31, 2001 the ----------------------- Company shall have failed to execute an amendment to this Agreement which shall revise, to the satisfaction of the Banks, the financial tests specified in Sections 9.1, 9.2 and 9.3 and shall otherwise be in all respects acceptable to the Banks.
Sample 1
New Financial Covenants. The financial covenants set forth in Article 7 of the Credit Agreement are hereby amended and restated in their entirety as follows:
Sample 1
New Financial Covenants. Provide to the Agent, as soon as reasonably practicable, and in any event within three (3) Business Days after the effectiveness thereof, a copy of any amendments to the Credit Agreement, or any successor revolving credit facilities, together with a written description of any changes in financial covenants or New Financial Covenants.
Sample 1
New Financial Covenants. On or before December 31, 2002, the Borrower and the Lender shall agree on new covenant levels for this Section 6.2 for periods after such date. The new covenant levels will be based on the Borrower's projections for such periods and shall be no less stringent than the present levels, but if the Borrower and the Lender do not agree, the Lender may designate the required amounts in its sole discretion, based on the Borrower's projections for such periods, and such covenants shall be no less stringent than the present levels. The failure by the Borrower to maintain such designated amounts shall constitute an Event of Default.
Sample 1
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New Financial Covenants. Section 7.10 of the Credit Agreement is hereby further amended by adding the following three new paragraphs, paragraph (f), paragraph (g) and paragraph (h), to Section 7.10 immediately after paragraph (e) thereof:
Sample 1
New Financial Covenants. Upon receipt by Lender from Borrowers of the projections for the fiscal quarter of the Borrowers ending December 31, 2007 and for the fiscal year of the Borrowers ending December 31, 2008 (which projections shall be received by Lender by no later than December 15, 2007, and which projections shall be in form and substance satisfactory to Lender), Lender and the Borrowers shall work in good faith to establish new financial covenant levels for the financial covenants set forth in Sections 12(o), (p) and (r) of the Loan Agreement for the fiscal quarter ending December 31, 2007 through the fiscal quarter ending December 31, 2008, and Lender and the Borrowers will enter into an amendment to this Agreement to incorporate such financial covenants into this Agreement.
Sample 1

Related to New Financial Covenants

  • 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:

  • 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.

  • 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.

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • 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:

  • Compliance with Financial Covenants Schedule A attached hereto sets forth financial data and computations evidencing the Borrower’s compliance with certain covenants of the Agreement, all of which data and computations are true, complete and correct.

  • 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: ____________________

  • Additional Covenants The Company covenants and agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement:

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