Noncompliance With Financial Covenants Sample Clauses

Noncompliance With Financial Covenants. The Borrower acknowledges that, in the event that (i) the Borrower's Consolidated Debt Service Coverage Ratio determined as of July 31, 2002, for the four fiscal quarters then ending, is less than 1.15 to 1.0, and/or (ii) the ratio of the Borrower's Consolidated Funded Indebtedness determined as of July 31, 2002, to Consolidated EBITDA for the four fiscal quarters then ending is greater than 2.75 to 1.0, the Borrower will be in noncompliance with Section 6.24.2 and/or 6.24.3 of the Credit Agreement (as the case may be) and such noncompliance will constitute an immediate Default under the Credit Agreement. In the event the Lenders are requested to waive the Borrower's noncompliance with Section 6.24.2 and/or 6.24.3 of the Credit Agreement at July 31, 2002, the Lenders agrees to consider such request, provided that the Borrower is then in compliance with all other terms and conditions of the Credit Agreement (as amended by this Amendment) and has satisfied the net income requirement set forth in Section 5.A of this Amendment. However, the Lenders will not be obligated to approve such request, and the Borrower acknowledges that the Lenders have given no assurance or commitment that any such waiver request will be approved and that the Lenders may refuse any such request in the exercise of their sole and absolute discretion. If any such waiver request is granted, the Lenders agree that no additional waiver or amendment fee will be required of the Borrower and that the Applicable Margins and Applicable Fee Rate set forth in Section 4 of this Agreement will not be increased as a condition of granting such waiver.
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Related to Noncompliance With Financial Covenants

  • 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.

  • Certain Financial Covenants The Borrower will not:

  • Financial Covenants So long as any Advance or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding or any Lender Party shall have any Commitment hereunder, the Borrower will:

  • Compliance with Agreements and Covenants Purchaser shall have performed and complied in all material respects with all of its covenants, obligations and agreements contained in this Agreement to be performed and complied with by it on or prior to the Closing Date.

  • 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:

  • Compliance with Laws and Agreements; No Default Except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, each Loan Party and each Subsidiary is in compliance with (i) all Requirements of Law applicable to it or its property and (ii) all indentures, agreements and other instruments binding upon it or its property. No Default has occurred and is continuing.

  • 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.

  • COMPLIANCE WITH OTHER INSTRUMENTS, NONE BURDENSOME, ETC The Company is not in violation of any term of its Certificate of Incorporation or Bylaws, as amended, or any mortgage, indenture, contract, agreement, instrument, judgment, decree or order by which the Company is bound or to which its properties are subject or, to its knowledge any statute, rule or regulation applicable to the Company which would materially and adversely affect the business, assets, liabilities, financial condition, operations or prospects of the Company. The execution, delivery and performance of and compliance with this Agreement and the transactions contemplated hereby will not result in any such violation and will not be in conflict with or constitute a default under any of the foregoing and will not result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company pursuant to any of the foregoing.

  • COMPLIANCE WITH COVENANTS, RESTRICTIONS AND BUILDING CODE Lessor warrants that any improvements (other than those constructed by Lessee or at Lessee's direction) on or in the Premises which have been constructed or installed by Lessor or with Lessor's consent or at Lessor's direction shall comply with all applicable covenants or restrictions of record and applicable building codes, regulations and ordinances in effect on the Commencement Date. Lessor further warrants to Lessee that Lessor has no knowledge of any claim having been made by any governmental agency that a violation or violations of applicable building codes, regulations, or ordinances exist with regard to the Premises as of the Commencement Date. Said warranties shall not apply to any Alterations or Utility Installations (defined in Paragraph 7.3(a)) made or to be made by Lessee. If the Premises do not comply with said warranties, Lessor shall, except as otherwise provided in this Lease, promptly after receipt of written notice from Lessee given within six (6) months following the Commencement Date and setting forth with specificity the nature and extent of such non-compliance, take such action, at Lessor's expense, as may be reasonable or appropriate to rectify the non-compliance. Lessor makes no warranty that the Permitted Use in Paragraph 1.8 is permitted for the Premises under Applicable Laws (as defined in Paragraph 2.4).

  • Compliance with Material Agreements Borrower shall, and shall cause each of its Subsidiaries to, comply in all material respects with all Senior Documents, material agreements, indentures, mortgages or documents binding on it or affecting its properties or business.

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