Tenant’s Financial Covenants Sample Clauses

Tenant’s Financial Covenants. All initially capitalized terms which are not otherwise defined herein shall have the meanings set forth in the Supplemental Master Indenture, provided that any such definitions therein pertaining to the financial or operational performance of the Landlord (defined therein as a “Member”) shall be construed when used herein to refer to the financial or operational performance of the Tenant. For clarity, the financial covenants set forth below shall be applied pursuant and subject to the provisions of E below. With respect to any retention of an Independent Consultant hereunder, Tenant hereby covenants that Tenant shall comply with and shall be bound by the selection procedures set forth in the Loan Documents.
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Tenant’s Financial Covenants. As a material consideration for Landlord executing this Lease with Tenant and to ensure Tenant’s compliance with the Lease terms, including but not limited to all financial obligations arising under this Lease, Tenant agrees to the following terms and conditions: (a) Tenant agrees to pledge and, as needed, pay to Landlord, all monies maintained by Tenant in any bank account whatsoever held in Tenant’s name and/or as managed on Tenant’s behalf by Manager, including but not limited to its Membership Deposits (as defined below) and any security deposits collected by Tenant pursuant to its Subleases (defined below), as well as all of Tenant’s others assets whatsoever, including but not limited to personal property and intangible rights, whether or not located on the Premises. Upon request of Landlord, Tenant agrees to execute such additional security instruments as may be reasonably requested by Landlord and necessary to evidence the foregoing terms. (b) Tenant shall require each and every one of its members, to maintain with Tenant at all times and on account of their financial obligations to Tenant, a “Membership Deposit” which amount per member shall be no less than $500.00 per person. The Membership Deposit program shall be administered by Manager on behalf of Tenant and upon such terms and conditions reasonably approved by Landlord. Tenant agrees that at all times it shall remain responsible and liable to any member for the Membership Deposit paid by such person in accordance with the terms of the Membership Agreement (defined below). (c) Tenant shall require each and every one of its members to sublease rooms in the Premises as required to fully occupy the Premises to the minimum occupancy requirements as shown on the attached Exhibit “A”, provided, however, the foregoing occupancy requirement shall not apply to a person (i) who is working full-time at an internship as part of a university sponsored “co-op” program (by whatever name),
Tenant’s Financial Covenants 

Related to Tenant’s Financial Covenants

  • 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:

  • 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.

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit:

  • Financial Covenants (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association, as soon as available, but in any case not later than six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records, accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or payment out of the Special Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

  • Certain Financial Covenants In addition to the covenants described in Section 5.1 and Section 5.2, so long as any Commitment remains in effect, any Advance is outstanding or any amount is owing to any Lender hereunder or under any other Loan Document, the Borrower will perform and comply with each of the covenants set forth on Schedule VI.

  • 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.

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

  • Financial Covenants Required Actual Complies Maintain as indicated:

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Financial Covenant So long as any Loan shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the Borrower will maintain a ratio of Consolidated Debt to Consolidated Capital of not greater than 0.65 to 1.00 as of the last day of each fiscal quarter.

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