Affirmative Covenant definition

Affirmative Covenant means any affirmative or similar obligation, agreement or covenant (other than a Negative Covenant) made by the Borrowers set forth in this Agreement or in any other Loan Document.
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Affirmative Covenant means any affirmative or similar covenant made by the Borrowers set forth in this Agreement or in any other Loan Document.
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Affirmative Covenant means a promise or covenant by any Person to perform, act, suffer, permit or consent to.
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Examples of Affirmative Covenant in a sentence

  • So long as this Agreement is in effect, the Borrower will comply with any "Additional Affirmative Covenant" contained in the Schedule and shall: Financial Statements and Other Information.

  • Affirmative Covenant: an affirmative covenant (a covenant is a promise) is promise do an affirmative act either (a) with regard to your property; or (b) to pay a sum of money with regard to you property.

  • Purchaser shall set forth in all commercial leases and any condominium offering plans for all or any portion of the New Building (in the event the property is converted to a condominium) a statement that the Lot 58 Existing Building is used by Seller for Seller’s Use and that Purchaser, for itself and with the intent to bind its successors and assigns, has agreed to the Affirmative Covenant.

  • The Maker fails to observe or perform any Affirmative Covenant and such default is not remedied in the manner and within the applicable grace period after Notice of such default provided for in the Purchase Agreement.

  • On days when school is closed, no FTPO member shall be required to report to work.

  • In lieu of the provisions of the Affirmative Covenant paragraph entitled “Compliance Certificates”, the following provision is substituted to replace it in its entirety: Form of the Borrower Compliance Certificate is not required.

  • The Makers fail to observe or perform any Affirmative Covenant and such default is not remedied in the manner (including the payment of any Assessment) and within the applicable grace period after Notice of such default provided for in the Purchase Agreement.

  • Maker fails to observe or perform any Affirmative Covenant and such default is not remedied within 30 calendar days after Notice is given by Payee to Maker of such default.

  • Affirmative Covenant Default the Company fails or omits to perform, observe, or comply with any of the terms, agreements, conditions or covenants contained in the Section of this Agreement regarding Affirmative Covenants other than financial covenants and the failure of the Company to cure such failure of omission within 30 days after delivery of written notice of such a failure or omission by the Bank to the Company.

  • In lieu of the provisions of the Affirmative Covenant paragraph entitled "Compliance Certificates", the following provision in substituted to replace it in its entirety: Compliance certificates are not required.


More Definitions of Affirmative Covenant

Affirmative Covenant means a promise or covenant by any Person to perform, act, suffer, permit or consent.
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Affirmative Covenant means any affirmative or similar covenant made by the Borrowers set forth in this Agreement or in any other Loan
Sample 1
Affirmative Covenant. Certain customary understandings as to the daily management of Reshef, anti-dilution rights, tag along rights, right of first refusal, preemptive rights, confidentiality and non-competition - subject all to the parties' holdings in Reshef.
Sample 1
Affirmative Covenant means a promise or covenant by any Person to perform, act, suffer, permit or consent to. "Agreement" shall have the meaning ascribed to such term in the introductory paragraph hereof. "Aggregate Purchase Closing Costs" shall have the meaning ascribed to such term in Section 4.28 hereof. "Aggregate Purchase Price" shall have the meaning ascribed to such term in Section 4.28 hereof. "Annualized Net Operating Income" means the difference between (i) the sum of all Receipts generated during the twelve (12) full calendar months immediately preceding any Determination Date (including any calendar month ending on a Determination Date) less (ii) all Expenses paid during the twelve (12) full calendar months immediately preceding such Determination Date (including any calendar month ending on a Determination Date), provided, however, that if any Determination Date shall occur prior to the first anniversary of the Closing Date, then Annualized Net Operating Income as of such Determination Date shall mean the difference between (i) all Receipts generated from the Closing Date to such Determination Date (the "Ownership Period"), less (ii) all Expenses paid during the Ownership Period, with the resultant remainder divided by the number of days in such Ownership Period, and with the then resultant quotient multiplied by 365.
Sample 1

Related to Affirmative Covenant

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Affirmative consent means affirmative, conscious, and voluntary agreement to engage in sexual activity.

  • Restrictive Covenant has the meaning set forth in Section 6(c).

  • Restrictive Covenant Agreement means any agreement, and any attachments or schedules thereto, entered into by and between the Participant and the Partnership or its Affiliates, pursuant to which the Participant has agreed, among other things, to certain restrictions relating to non-competition (if applicable), non-solicitation and/or confidentiality, in order to protect the business of the Partnership and its Affiliates.

  • Restrictive Covenant Violation means the Participant’s breach of the Restrictive Covenants listed on Appendix A or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s vendors, suppliers, customers, or employees, or any similar provision applicable to or agreed to by the Participant.

  • Restrictive Covenant Agreements has the meaning set forth in the Recitals.

  • Restrictive Covenants means the restrictive covenants contained in Section 13(c) hereof.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Affirmative Action Plan means the Affirmative Action Plan for school and classroom practices adopted by the Board.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Covenants means the covenants set forth in Section 4 of this Agreement.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Affirmative action means action appropriate to overcome the effects of past or present practices, policies, or other barriers to equal employment opportunity.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • (2) In this subsection, the term fundraising’ means

  • (3) In this subsection, the term oil fuel’ means any oil used as fuel in connection with the propulsion and auxiliary machinery of the vessel in which such oil is carried.’’.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Covenant means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.

  • Subordination Provisions has the meaning specified in Section 8.01(l).

  • Mandatory Trigger Provision means, as to any Qualifying Capital Securities, provisions in the terms thereof or of the related transaction agreements that:

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Covenant Compliance Event means, at any time, Availability is less than the greater of (i) ten percent (10%) of the Loan Cap and (ii) $15,000,000. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.