Revised Financial Covenants Sample Clauses
The Revised Financial Covenants clause sets updated financial benchmarks or requirements that a party, typically a borrower, must meet during the term of an agreement. These covenants may include specific ratios such as debt-to-equity, minimum cash reserves, or interest coverage, and are often recalibrated in response to changes in the borrower's financial situation or market conditions. By redefining these financial standards, the clause ensures that the lender's risk is managed appropriately and that the borrower's financial health remains transparent and within agreed-upon limits.
Revised Financial Covenants. Section 6.7 of the Loan Agreement is hereby amended to read as follows:
Revised Financial Covenants. The section of the Schedule to Loan Agreement entitled "Financial Covenants (Section 4.1)" is hereby amended to read as follows:
Revised Financial Covenants. Section 6.20(a)-(d) of the Credit Agreement shall be deleted and replaced in their entirety with the following financial covenants:
Revised Financial Covenants. Section 8.1 of the Financing Agreement is hereby amended in its entirety to read as follows:
(a) “Section 8.1
Revised Financial Covenants. Sections 6.2(a) and (b) of the Loan Agreement are hereby amended in their entirety to read as follows:
(a) Tangible Net Worth. Permit or suffer Tangible Net Worth to be: (i) on September 30, 1996, less than $14,500,000; (ii) December 31, 1996, less than $9,700,000; and (iii) on September 30, 1997 and as of the end of each fiscal quarter of the Borrowers thereafter, less than $11,000,000.
Revised Financial Covenants. That section of the Schedule to Loan Agreement entitled "Credit Limit (Section 1.1)" is hereby amended in its entirety to read as follows:
Revised Financial Covenants. Sections 10.1 through 10.4 of the Credit Agreement hereby are modified, amended, and restated as follows: