Other Financial Covenants. Borrower will comply with any additional financial covenants set forth in Section 8(j) of Schedule A.
Other Financial Covenants. If, at any time:
(a) any Borrower shall (A) add any financial performance maintenance covenants or tests to any documents in respect of Indebtedness in a principal amount of $50,000,000 or more (“Specified Indebtedness”) or (B) amend or modify any financial performance maintenance covenants or tests set forth in any agreement in respect of any Specified Indebtedness in a manner to make any such financial covenant or financial test more onerous on such Borrower, restrictive on such Borrower or easily triggered by such Borrower than any comparable provisions set forth herein;
(b) this Article X shall be deemed to be automatically amended (without action or consent by any Person) to include such new or more onerous, restrictive or easily triggered, as applicable, financial performance maintenance covenants or tests in this Article X. If requested by the Administrative Agent, the Borrowers will deliver written agreements to the Administrative Agent and the Lenders evidencing any such amendment.
Other Financial Covenants. The Concessionaire shall not –
41.3.1. incur any liability or financial indebtedness except in the ordinary course of the business of providing and operating the Railway Services;
41.3.2. make any loans or grant any credit, or have or permit to subsist any loan or any credit, to any person (other than as permitted under clause 41.3.3) or to a director or employee in the ordinary course of its business or otherwise in the ordinary course of the business of providing the Railway Services;
41.3.3. create or permit to subsist any Security Interest over any of its assets and property or give any guarantee or indemnity to or for the benefit of any person or otherwise assume liability or become obliged (actually or contingently) in respect of any obligation of any other person, in each case other than in the ordinary course of the business of providing the Railway Services;
41.3.4. save as expressly permitted under the terms of this Agreement, create or acquire any subsidiary or make or have any investment in any other entity, except for the formation of a wholly-owned subsidiary comprising a limited liability company.
Other Financial Covenants. (i) Guarantor covenants and agrees to act, in all respects, in good faith with respect to the obligations and covenants described in this Section 3.9 and all calculations required hereunder. Guarantor further agrees to promptly respond to any inquiries made by Lender or its agent with respect to Guarantor's ongoing compliance with the financial covenants described in this Section 3.9 or with respect to documentation with respect thereto. The failure of Guarantor, at any time, to satisfy the foregoing financial covenants shall constitute a default hereunder and under the other Loan Documents.
(ii) Guarantor shall not, at any time while a default in the payment of the Guaranteed Obligations has occurred and is continuing, either (i) enter into or effectuate any transaction with any Affiliate which would have the effect of reducing the Net Worth of Guarantor below that required in Section 3.9(b), including, without limitation, the payment of any dividend or distribution to a shareholder, partner or member as applicable, or the redemption, retirement, purchase or other acquisition for consideration of any stock or other ownership interest in Guarantor, or (ii) sell, pledge, mortgage or otherwise transfer to any Person any of Guarantor's assets, or any interest therein which would have the effect of causing a violation of the financial covenants in this Section 3.9.
Other Financial Covenants. As part of the Lender’s Loan Documents, the Lender shall require the Borrower to represent and warrant that:
(a) XXX (b) XXX
Other Financial Covenants. Borrower represents and warrants to the MSF and Lender: 1. XXX
Other Financial Covenants. (i) Guarantor covenants and agrees to act, in all respects, in good faith with respect to the obligations and covenants described in this Section 3.9 and all calculations required hereunder. Guarantor further agrees to promptly respond to any inquiries made by Lender or its agent with respect to Guarantor's ongoing compliance with the financial covenants described in this Section 3.9 or with respect to documentation with respect thereto. The failure of Guarantor, at any time, to satisfy the foregoing financial covenants shall constitute a default hereunder and under the other Loan Documents. 641933; Miami-Dade County, Florida
(ii) Guarantor shall not, at any time while a default in the payment of the Guaranteed Obligations has occurred and is continuing, either (i) enter into or effectuate any transaction with any Affiliate which would reduce the Net Worth of Guarantor, including, without limitation, the payment of any dividend or distribution to a shareholder, partner or member as applicable, or the redemption, retirement, purchase or other acquisition for consideration of any stock or other ownership interest in Guarantor, or (ii) sell, pledge, mortgage or otherwise transfer to any Person any of Guarantor’s assets, or any interest therein.
Other Financial Covenants. (i) Guarantor covenants and agrees to act, in all respects, in good faith with respect to the obligations and covenants described in this Section 3.9 and all calculations required hereunder. Guarantor further agrees to promptly respond to any inquiries made by Lender or its agent with respect to Guarantor's ongoing compliance with the financial covenants described in this Section 3.9 or with respect to documentation with respect thereto. The failure of Guarantor, at any time, to satisfy the foregoing financial covenants shall constitute a default hereunder and under the other Loan Documents. GUARANTY AGREEMENT (CARVEOUT) – Page 13 667146; Miami-Dade County, Florida
(ii) Guarantor shall not, at any time while a default in the payment of the Guaranteed Obligations has occurred and is continuing, either (i) enter into or effectuate any transaction with any Affiliate which would reduce the Net Worth of Guarantor, including, without limitation, the payment of any dividend or distribution to a shareholder, partner or member as applicable, or the redemption, retirement, purchase or other acquisition for consideration of any stock or other ownership interest in Guarantor, or (ii) sell, pledge, mortgage or otherwise transfer to any Person any of Guarantor’s assets, or any interest therein.
Other Financial Covenants. (a) Permit Total Liabilities to exceed sixty percent (60%) of the Total Market Value of Assets.
(b) Permit Total Development and Joint Venture Investment to exceed (i) eleven percent (11%) of the Total Market Value of Assets from the date hereof through December 31, 1998, and (ii) ten percent (10%) of the Total Market Value of Assets, commencing on January 1, 1999, until the termination of this Agreement.
(c) Fail to maintain as of the end of each fiscal quarter a ratio of Annualized EBITDA for trailing six (6) months to Total Annualized Fixed Charges for the same period of at least 1.75 to 1.0.
(d) Fail to maintain as of the end of each fiscal quarter a ratio of Annualized EBITDA for trailing six (6) months to Total Annualized Debt Service on Indebtedness for the same period of at least 2.0 to 1.0.
(e) Fail to maintain at all times beginning on the Effective Date a consolidated Tangible Net Worth which is not less than Four Hundred Seventy Million Dollars ($470,000,000) plus seventy percent (70%) of net proceeds of new equity offerings.
(f) Permit the ratio of Adjusted NOI for all Mortgaged Properties (based on the prior three (3) months, annualized) to Assumed Debt Service to be less than 1.0 to 1.0. 6.9.
Other Financial Covenants. The Borrower agrees that the foregoing covenants shall be automatically modified to reflect the modification of any similar financial covenant set forth in the documents between the Borrower and Borrower' Unsecured Lenders, the effect of which is to cause said financial covenants to be more restrictive than the financial covenants set forth herein.
