Common use of Other Financial Covenants Clause in Contracts

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.

Appears in 2 contracts

Samples: Credit Agreement (Nacco Industries Inc), Credit Agreement (Nacco Industries Inc)

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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;; then (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 Borrower will deliver written agreements to the Administrative Agent and the Lenders evidencing any such amendment.

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

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