Common use of Specific Financial Covenants Clause in Contracts

Specific Financial Covenants. During the term of this Agreement, and thereafter for so long as there are any Obligations to Agent or Lenders, Borrower covenants that it will be in full compliance with each of the financial covenants set forth on Exhibit 8.3 hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Agent by Borrower on or before the Closing Date, Borrower will provide Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower or upon the request of Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Home Products International Inc), Loan and Security Agreement (Home Products International Inc)

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Specific Financial Covenants. During the term of this Agreement, and thereafter for so long as there are any Obligations to Agent or and/or Lenders, Borrower covenants that it they will be in full compliance with each of the financial covenants set forth on Exhibit 8.3 hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Agent by Borrower on or before the Closing Date, Borrower will provide Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower or upon the request of Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Houston Wire & Cable CO)

Specific Financial Covenants. During the term of this AgreementTerm, and thereafter for so long as there are any Obligations to Agent or Lendersoutstanding, each Borrower covenants that it will be in full compliance shall comply with each all of the financial covenants set forth on in Exhibit 8.3 hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Administrative Agent by Borrower Borrowers on or before the Closing Date, Borrower Borrowers will provide Administrative Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower Borrowers or upon the request of Administrative Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is Borrowers are also in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Nes Rentals Holdings Inc)

Specific Financial Covenants. 8.3.1 During the term of this AgreementTerm, and thereafter for so long as there are any Obligations outstanding, Borrowers covenant that, unless otherwise consented to Agent or Lendersby Majority Lenders in writing, Borrower covenants that it will be in full compliance with each shall maintain Availability of the financial covenants set forth on Exhibit 8.3 hereto. not less than $3,000,000. 8.3.2 If GAAP changes from the basis used in preparing the audited financial statements delivered to Agent by Borrower Borrowers on or before the Closing Date, each Borrower will provide Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower Borrowers or upon the request of Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is Borrowers are in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Financing and Security Agreement (Henry Co)

Specific Financial Covenants. During the term of this Agreement, and thereafter for so long as there are any Obligations to Agent or and/or Lenders, Borrower covenants that it they will be in full compliance with each of the financial covenants set forth on Exhibit 8.3 Q hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Agent by Borrower on or before the Closing Date, Borrower will provide Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower or upon the request of Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Houston Wire & Cable CO)

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Specific Financial Covenants. During the term of this Agreement, and thereafter for so long as there are any Obligations to Agent or LendersLender, Borrower covenants that it will be in full compliance with each of the financial covenants set forth on Exhibit 8.3 Schedule 7.3 hereto. If GAAP ------------ changes from the basis used in preparing the audited financial statements delivered to Agent Lender by Borrower on or before the Closing Date, Borrower will provide Agent Lender with certificates demonstrating compliance with such financial covenants and will includeinclude with each delivery of financial statements to Lender hereunder, at the election of Borrower or upon the request of AgentLender, calculations setting forth the adjustments necessary to demonstrate how that Borrower is in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Moore Medical Corp)

Specific Financial Covenants. During the term of this AgreementTerm, and thereafter for so long as there are any Obligations to Agent or Lendersoutstanding, Borrower covenants that it will be in full compliance shall comply with each all of the financial covenants set forth on in Exhibit 8.3 hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Administrative Agent by Borrower on or before the Closing Date, Borrower will provide Administrative Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower or upon the request of Administrative Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is also in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Nes Rentals Holdings Inc)

Specific Financial Covenants. During the term of this Agreement, and thereafter for so long as there are any Obligations to Agent or and/or Lenders, Borrower covenants that it will be in full compliance with each of the financial covenants set forth on Exhibit 8.3 Q hereto. If GAAP changes from the basis used in preparing the audited financial statements delivered to Agent by Borrower on or before the Closing Date, Borrower will provide Agent with certificates demonstrating compliance with such financial covenants and will include, at the election of Borrower or upon the request of Agent, calculations setting forth the adjustments necessary to demonstrate how Borrower is in compliance with such financial covenants based upon GAAP as in effect on the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

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