Covenant Adjustment Date definition

Covenant Adjustment Date means the earliest of: (i) the date on which (x) a court of competent jurisdiction has issued a final, non-appealable determination with respect to the Specified Disclosed Litigation (including as a result of a decision by the Borrower or any of its Subsidiaries not to pursue an available appeal) and (y) any taxes, interest, penalties and governmental court charges (including any judgment in respect of such amounts) payable by the Borrower or any of its Subsidiaries (the “Specified Disclosed Litigation Payable Amount”) as a result of such determination have been satisfied in full; (ii) the date on which Governmental Authorities in Brazil irrevocably abandon and relinquish, or otherwise irrevocably cease to pursue, the Specified Disclosed Litigation; and (iii) the date on which (x) the Borrower or any of its Subsidiaries has settled the Specified Disclosed Litigation (including by becoming party to an applicable amnesty program) and (y) any amounts payable by the Borrower or any of its Subsidiaries (the “Specified Disclosed Litigation Settlement Amount”) pursuant to the settlement agreement have been satisfied in full; provided that, in the case of clauses (i) and (iii), (A) IP has satisfied in full its obligation to reimburse/indemnify the Borrower in accordance with the provisions of the Tax Matters Agreement and (B) any Liens placed on the assets of the Borrower or any of its Restricted Subsidiaries by the Governmental Authorities in Brazil relating to the Specified Disclosed Litigation have been released.
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Covenant Adjustment Date means the last day of the fourth consecutive fiscal quarter of Parent for which Borrowers have delivered to Agent quarterly or annual financial statements pursuant to Section 5.1 of this Agreement, together with a Compliance Certificate with respect thereto, demonstrating that the Fixed Charge Coverage Ratio of Parent as of the last day of such fiscal quarter, for the four fiscal quarter period then ended, was at least 1.10 to 1.00.
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Covenant Adjustment Date means the earliest of: (i) the date on which (x) a court of competent jurisdiction has issued a final, non-appealable determination with respect to the Specified Disclosed Litigation (including as a result of a decision by the Borrower or any of its Subsidiaries not to pursue an available appeal) and (y) any taxes, interest, penalties and governmental court charges (including any judgment in respect of such amounts) payable by the Borrower or any of its Subsidiaries (the “Specified Disclosed Litigation Payable Amount”) as a result of such determination have been satisfied in full; (ii) the date on which Governmental Authorities in Brazil irrevocably abandon and relinquish, or otherwise irrevocably cease to pursue, the Specified Disclosed Litigation; and (iii) the date on which (x) the Borrower or any of its Subsidiaries has settled the Specified Disclosed Litigation (including by becoming party to an applicable amnesty program) and (y) any amounts payable by the Borrower or any of its Subsidiaries (the “Specified Disclosed Litigation Settlement Amount”) pursuant to the settlement agreement have been satisfied in full; provided that, in the case of clauses (i) and (iii), (A) IP has satisfied in full its obligation to reimburse/indemnify the Borrower in accordance with the provisions of the Tax Matters Agreement and
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Examples of Covenant Adjustment Date in a sentence

  • At all times during the period from the Closing Date through the Covenant Adjustment Date, maintain Liquidity of at least $17,500,000.

  • Have a Fixed Charge Coverage Ratio, measured on a quarter-end basis, of at least 1.10 to 1.00 for each Reference Period ending from and after the Covenant Adjustment Date.

  • So long as the Covenant Adjustment Date has not occurred, take all actions as are necessary or that are reasonably requested by the Administrative Agent to establish and maintain in favor of the Administrative Agent, for the benefit of the Banks, a valid, perfected, first-priority security interest in the stock of each of Xxxxxx Electric Corporation, Hub City, Inc., Marathon Electric Manufacturing Corporation and each other Guarantor (if any).

  • The following definitions are added to Section 1.1 in proper alphabetical sequence: Covenant Adjustment Date means the first date after June 30, 2001 on which (a) the Funded Debt to EBITDA Ratio has been equal to or less than 3.0 to 1.0 as of the last day of the two most recently ended Fiscal Quarters and (b) no Event of Default or Unmatured Event of Default exists.

  • Until the Covenant Adjustment Date, the Holding ------------- Company will at all times maintain a ratio of Consolidated Current Assets to Consolidated Current Liabilities (other than Current Liabilities under Permitted Stock Repurchase Notes) of at least 1.00 to 1.00.

  • At any time prior to the Covenant Adjustment Date, the Pledge Agreement shall fail to be in full force and effect, the Company shall fail to comply with any of its obligations under the Pledge Agreement, or the Company shall contest in any manner the validity or enforceability of the Pledge Agreement.

  • To return to the Financial Activity Editor to enter dollar amounts directly to the purchases area, click Cancel.

  • Have a Fixed Charge Coverage Ratio, measured on a quarter-end basis,, calculated for each four quarter period ending on the first day of any Covenant Testing Period and the last day of each fiscal quarter occurring until the end of any -202- LEGAL_US_W # 114834644.8114834644.17 Covenant Testing Period (including the last day thereof), in each case of at least 1.10 to 1.00 for each Reference Period ending from and after the Covenant Adjustment Date.


More Definitions of Covenant Adjustment Date

Covenant Adjustment Date shall have the meaning specified at the -------- ---------- ---- beginning of section 14.
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Covenant Adjustment Date has the meaning specified in Section 5.02(e).
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Covenant Adjustment Date with respect to any Permitted Acquisition or similar purchase or acquisition permitted under Section 6.8, the first date on which the covenant in Section 6.1(b) is tested following the consummation of such Permitted Acquisition or similar purchase or acquisition permitted under Section 6.8.
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Related to Covenant Adjustment Date

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • SOFR Adjustment Date means the second U.S. Government Securities Business Day before the first day of such Interest Period.

  • Initial Adjustment Date As to any Adjustable Rate Mortgage Loan, the first Adjustment Date following the origination of such Mortgage Loan.

  • Adjustment Date As to each Adjustable Rate Mortgage Loan, each date on which the related Mortgage Rate is subject to adjustment, as provided in the related Mortgage Note.

  • LIBOR Adjustment Date With respect to any Payment Date, the second business day before the related Accrual Period begins. For this purpose, a “business day” is a day on which banks are open for dealing in foreign currency and exchange in London, New York City and Washington, D.

  • Recalculation Date means the Valuation Date that gives rise to the dispute under Paragraph 5; provided, however, that if a subsequent Valuation Date occurs under Paragraph 3 prior to the resolution of the dispute, then the “Recalculation Date” means the most recent Valuation Date under Paragraph 3.

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • Index Adjustment Event means, in respect of the Index, an Administrator/Benchmark Event, an Index Cancellation, an Index Disruption or an Index Modification.

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Adjustment Day means the first calendar day in each month.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Interest Calculation Period means the period or periods for the calculation of the interest shown on the mortgage form;

  • Index Determination Date means, in relation to any Index, a date on which such Indexfalls to be determined in accordance with the Conditions;

  • SOFR Determination Date has the meaning specified in the definition of “Daily Simple SOFR”.

  • Accounting Restatement Determination Date means the earliest to occur of: (a) the date the Board, a committee of the Board, or one or more of the officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare an Accounting Restatement; and (b) the date a court, regulator, or other legally authorized body directs the Company to prepare an Accounting Restatement.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Initial Valuation Date means the Issue Date, provided that if such day is not an Exchange Business Day for a Share then the Initial Valuation Date for that Share will be the first succeeding day that is an Exchange Business Day, subject to the occurrence of a Market Disruption Event. See “DESCRIPTION OF THE NOTES – Market Disruption Event” below for further detail.

  • Reset Interest Determination Date means, in respect of any Reset Period, the day falling two Business Days prior to the beginning of the relevant Reset Period;

  • Contract Term Adjustment means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • RMB Rate Calculation Date means the day which is two RMB Rate Calculation Business Days before the due date for payment of the relevant Renminbi amount under the Conditions.

  • Tax Adjustment has the meaning set forth in Section 4.7.