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

  • Failure of the Borrower or any of the other Loan Parties to pay any amounts when due and owing under the DIP Term Sheet or under the Loan Documents, or to comply with the DIP Term Sheet and the Loan Documents, including for greater certainty, failure to comply with any Affirmative Covenant or Negative Covenant set out therein.

  • Affirmative Covenant 39 Executive SummaryWithin the global security domain several significant changes have been taking place which also influence the European Union (EU) due to its broad mandate.

  • While it is recognised that informal settlements provide sub-optimal housing, they serve a critical function in the urban environment where households have secured access at extremely low financial cost and have started to piece together various livelihood strategies.

  • Similar requirements were included in SBREFA, which was enacted less than a year later in March 1996.


More Definitions of Affirmative Covenant

Affirmative Covenant means any affirmative or similar covenant made by the Borrowers set forth in this Agreement or in any other Loan
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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.
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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.
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Related to Affirmative Covenant

  • 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 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.

  • 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, conditions, restrictions, assessments, charges, servitudes, liens, reservations and easements set forth herein.

  • 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).

  • 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 Relief Period means the period commencing on the First Amendment Effective Date and ending on (and including) the date of delivery of the Compliance Certificate for the fiscal quarter ending March 31, 2024, if such Compliance Certificate demonstrates compliance with Section 7.07.”