Certain Financial Covenants definition

Certain Financial Covenants. ABFS to have at least US$350,000,000 in aggregate active warehouse facility commitments from one or more other lenders or investors at all times. Terms and conditions of facilities shall be reasonably acceptable to Investor. The pledgor(s) of the Servicer Reimbursement and Fee Collateral shall periodically certify, and provide monthly financial statements prepared in accordance with GAAP evidencing, that each maintains a positive net worth at the end of the period covered by each such certification. Other Covenants/ Representations: Covenants/representations to include but not be limited to those set forth in the Chrysalis Loan Agreement (with covenants covering the Wet Warehouse Collateral), and the following (all schedules to be revised as of the Closing Date, with any changes therein being satisfactory to Investor in its sole discretion): As of the Closing Date, there are no material actions or proceedings threatened or commenced and continuing against ABFS where the evaluated exposure as determined by ABFS in consultation with its outside legal counsel is in excess of US$50,000, other than those summarized on Schedule B attached to the Commitment Letter. As of the Closing Date, there are no material complaints asserted against ABFS by consumers or regulators on their behalf other than those summarized on Schedule C attached to the Commitment Letter. As of the Closing Date, there are no threatened or pending enforcement actions, administrative proceedings or investigations involving ABFS by any federal, state or local governmental entity other than those summarized on Schedule D attached to the Commitment Letter. With respect to ABFS-sponsored securitizations which were insured by financial guaranty company(ies), Schedule E lists (and ABFS has provided copies of) all amendments and waivers to contracts related to such securitizations, all correspondence with such financial guaranty company(ies) that is or may be material to the holders of the residual interests in such securitization and all servicer extension notices and waivers related thereto received by ABFS prior to the Closing Date from the financial guaranty company. ABFS is licensed and qualified to originate loans and transact business in and is in good standing under the laws of each state where it originates and services mortgage loans unless otherwise exempt under applicable law from such licensing or qualification.
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Examples of Certain Financial Covenants in a sentence

  • NEGATIVE COVENANTS 39 Section 10.1. Transactions with Affiliates 39 Section 10.2. Fundamental Changes 40 Section 10.3. Line of Business 41 Section 10.4. Economic Sanctions, Etc 41 Section 10.5. Liens 41 Section 10.6. Restricted Payments 42 Section 10.7. Certain Financial Covenants 43 Section 10.8. SBIC Guarantee 44 SECTION 11.

  • NEGATIVE COVENANTS 26 Section 10.1. [Reserved] 26 Section 10.2. Liens 26 Section 10.3. Fundamental Changes 26 Section 10.4. [Reserved] 28 Section 10.5. Restricted Payments 28 Section 10.6. Certain Restrictions on Subsidiaries 29 Section 10.7. Certain Financial Covenants 30 Section 10.8. Transactions with Affiliates 33 Section 10.9. Lines of Business 33 Section 10.10.

  • Certain Financial Covenants 34 EVENTS OF DEFAULT 34 THE ADMINISTRATIVE AGENT 36 SECTION 9.01.

  • Negative Covenants 33 Section 10.1. Transactions with Affiliates 33 Section 10.2. Merger, Consolidation, Fundamental Changes, Etc 34 Section 10.3. Line of Business 37 Section 10.4. Economic Sanctions, Etc 37 Section 10.5. Liens 37 Section 10.6. Investments 38 Section 10.7. Certain Financial Covenants 39 Section 11.

  • Certain Financial Covenants 59 ARTICLE VII Events of Default 59 ARTICLE VIII Guarantee 62 SECTION 8.01.

  • Certain Financial Covenants......................................

  • Certain Financial Covenants ........................................................................

  • Certain Financial Covenants ......................................................................75 SECTION 6.08.

  • Certain Financial Covenants 42 ARTICLE VII EVENTS OF DEFAULT 42 ARTICLE VIII THE ADMINISTRATIVE AGENT 44 ARTICLE IX MISCELLANEOUS 47 SECTION 9.01.

  • Certain Financial Covenants.......................................................................

Related to Certain Financial Covenants