Applicable Covenant definition

Applicable Covenant means the covenants set forth in Sections 5.3(a), (b), (d) and (e), Section 5.4(a), (b) and (e), and Section 5.5(a) and (b) of the Purchase Agreement.
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Applicable Covenant shall have the meaning assigned to such term in Section 1.02.
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Applicable Covenant means any financial covenants imposed upon Encore under any Other Financing Document.
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Examples of Applicable Covenant in a sentence

  • Notwithstanding anything to the contrary set forth in Sections 6.5(b) and 6.5(d) of the Credit Agreement (the “Applicable Covenant Sections”), the Lenders hereby waive compliance by the Credit Parties with the Applicable Covenant Sections for the fiscal quarters ending September 30, 2021 and December 31, 2021, respectively.

  • In accordance with the terms and conditions of this Amendment, Administrative Agent, Collateral Agent and the Banks consent to Borrower's departure from the Applicable Covenant in order to allow the Asset Sales to occur.

  • As of the date hereof, the disposition of the Arkansas Property is anticipated to occur prior to the expiration of ten (10) Business Days and the Borrower has not provided the certifications required by the Applicable Covenant.

  • Notwithstanding the foregoing, any claims asserted in good faith with reasonable specificity (to the extent known at such time) and in writing by notice from an Indemnified Party to the Holder Representative prior to the Applicable Covenant Survival Date shall not thereafter be barred by the expiration of the relevant covenant or agreement and such claims shall survive until finally resolved pursuant to this Article X.

  • Subject to the other terms of this Modification (including, without limitation, Section 3.3 hereof), each of the undersigned Banks consent to Borrower's departure from the Applicable Covenant as specifically described above for purposes of permitting the sale of the Arkansas Property prior to the expiration of the ten (10) Business Day period required by the Applicable Covenant and agree that such departure will not result in a Default.

  • Borrower has requested that the Required Banks consent to the Borrower's departure from clause (e) (ii) of Section 10.8 of the Credit Agreement (the "Applicable Covenant") in order to permit the sale of the Arkansas Property because the Applicable Covenant requires that the Borrower provide certifications demonstrating compliance with subclauses (iii) and (iv) of clause (e) not less than ten (10) Business Days prior to the date of the proposed disposition.

  • The Seller shall be in compliance with all Applicable Covenants (for so long as the related Other Financing Documents are in effect), shall provide to the Agent on the last day of each month a compliance certificate indicating, in reasonable detail, such compliance, and shall give the Agent notice within one (1) Business Day of the Seller’s discovery thereof, of any non-compliance with any Applicable Covenant.

  • Bank also hereby waives any breach by Tekelec as a result of the Accounting lssues of the Applicable Covenant with respect to Tekelec’s books and records pertaining to any and all periods to and including, but not beyond, the date hereof, as well as the Event(s) of Default which may have occurred under Section 6.1 (c) as a result thereof.

  • The consent set forth in Section 2.1 shall not be deemed a consent to the departure from or waiver of (a) the Applicable Covenant for any purpose other than to permit the Asset Sales or (b) any other covenants or condition in any Loan Document or (c) any Event of Default that otherwise may arise as a result of the Asset Sales.

  • The failure to comply with the Applicable Covenant for any other sale of assets shall constitute an Event of Default.


More Definitions of Applicable Covenant

Applicable Covenant means any financial covenants imposed upon the Trust, MortgageIT or MortgageIT Holdings under any Other Financing Document.
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Related to Applicable Covenant

  • 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.

  • Incurrence Covenant means 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) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • 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.

  • Financial Covenant has the meaning specified in Section 7.08.

  • 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).

  • Financial Covenants means the covenants set forth in Section 6.2.

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

  • Covenant Relief Period means the period commencing on the Amendment No. 1 Effective Date and ending on and including December 31, 2022.

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

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

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Section 10.11.

  • Financial Performance Covenant means the covenant set forth in Section 6.11.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • 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.

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

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • 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.

  • 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.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Waiver Period means, for each applicable fee, the period of time from the initial effective date of the MIAX PEARL Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior to the termination of the Waiver Period and effective date of any such applicable fee.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • 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.

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

  • 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.