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.
Sample 1

Examples of Certain Financial Covenants in a sentence

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

  • 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 ..........................................................................114 SECTION 6.08.

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

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

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

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

  • IP address: 34.134.217.210, on 23 Sep 2021 at 10:37:38, subject to the Cambridge Core terms of use, available at https://www.cambridge.org/core/terms.

  • The Purchaser may examine and inspect the Collateral at any reasonable time and for that purpose may enter upon any premises where the Collateral may be located.

  • 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.

Related to Certain Financial Covenants

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

  • Financial Covenant has the meaning specified in Section 7.08.

  • 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).

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

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

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

  • 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).

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

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 8.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

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

  • Specified Acquisition Agreement Representations means such of the representations and warranties in the Acquisition Agreement made by the Acquired Company with respect to the Acquired Company and its subsidiaries as are material to the interests of the Lenders, but only to the extent that the Borrower (and/or its applicable Affiliate) has the right to terminate its and/or such Affiliate’s obligations under the Acquisition Agreement as a result of a breach of such representations in the Acquisition Agreement.

  • Pro Forma Compliance and “Pro Forma Effect” mean, with respect to compliance with any test, financial ratio or covenant hereunder required by the terms of this Agreement to be made on a Pro Forma Basis or after giving Pro Forma Effect thereto, that (a) to the extent applicable, the Pro Forma Adjustment shall have been made and (b) all Specified Transactions and the following transactions in connection therewith that have been made during the applicable period of measurement or subsequent to such period and prior to or simultaneously with the event for which the calculation is made shall be deemed to have occurred as of the first day of the applicable period of measurement in such test, financial ratio or covenant: (i) income statement items (whether positive or negative) attributable to the property or Person subject to such Specified Transaction, (A) in the case of a Disposition of all or substantially all Equity Interests in any subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries, shall be excluded and (B) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction,” shall be included, (ii) any retirement of Indebtedness, and (iii) any Indebtedness incurred or assumed by the Borrower or any of its Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination and interest on any Indebtedness under a revolving credit facility computed on a Pro Forma Basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period; provided that, without limiting the application of the Pro Forma Adjustment pursuant to clause (a) above, the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of “Consolidated EBITDA” and give effect to operating expense reductions that are (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the Borrower or any of its Subsidiaries and (z) factually supportable or (ii) otherwise consistent with the definition of “Pro Forma Adjustment.”

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • 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.

  • 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.

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

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • 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.

  • Credit Agreement shall have the meaning set forth in the recitals.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

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

  • Compliance Date means, in each case, the date by which compliance is required under the referenced provision of ARRA’s or HIPAA’s implementing regulations, as applicable.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.