Covenant Conversion Date definition

Covenant Conversion Date shall have the meaning specified in Section 7.03(a).
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Covenant Conversion Date means December 31, 1999.
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Covenant Conversion Date means March 31, 2021. “Credit Suisse” means Credit Suisse Securities (USA) LLC. “Currency” means Dollars or any Alternate Currency. 9 -
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Examples of Covenant Conversion Date in a sentence

  • At all times until the date on which financial statements shall have been delivered to Bank by Borrower for the first fiscal quarter of Borrower for which Borrower's net operating profit shall exceed $1.00 or, if later, March 31, 1999 (the date of delivery of such financial statements or, if applicable, March 31, 1999, being called the "Covenant Conversion Date"), permit the Liquidity Ratio to be less than 1.5:1.

  • Permit the Debt Service Coverage Ratio for any Reference Period (as herein defined), ending after the Covenant Conversion Date to be less than 1.25:1.

  • Until the Discharge of Term ObligationsFinancial Covenant Conversion Date, the Borrower shall maintain, at all times, Excess Availability of at least the greater of (i) $30,000,00025,000,000, and (ii) ten percent (10%) of the Global Loan Cap.

  • From and after the Covenant Conversion Date, Borrower shall maintain, as of the last day of each of Borrower's fiscal quarters, a Cash Balance of at least the greater of (a) two times outstanding Advances, or Remaining Months Liquidity of at least six months.

  • On the Covenant Conversion Date and on the last day of each Fiscal Quarter following the Covenant Conversion Date, Livent shall maintain on the last day of each such Fiscal Quarter a First Lien Leverage Ratio of not more than a ratio of 3.50 to 1.00.

  • From and after the Covenant Conversion Date, Borrower shall maintain, as of the last day of each of Borrower's fiscal quarters, a Tangible Net Worth of not less than Twelve Million Five Hundred Thousand Dollars ($12,500,000).

  • Commencing on June 30, 2020 and ending on the last day of each Fiscal Quarter prior to the Covenant Conversion Date, Livent shall maintain on the last day of each such Fiscal Quarter a Total Leverage Ratio of not more than a ratio of 6.00 to 1.00.

  • This Agreement shall be ---------------------- binding upon and shall inure to the benefit of the Company and the Bridge Parties and their respective successors and assigns; provided that the Company -------- may not assign or otherwise transfer its rights or obligations under this Agreement to any other Person without the prior written consent of the Majority Holders (except after the Covenant Conversion Date as may be permitted pursuant to Article VI).

  • At all times during the period commencing on the Closing Date and ending on the last day of the calendar month in which the Covenant Conversion Date occurs, maintain Liquidity of at least $2,000,000 at any time.


More Definitions of Covenant Conversion Date

Covenant Conversion Date means the earliest of (a) the date on which the Borrower delivers to Agent a certificate in the form of Exhibit C-2 to the Agreement together with the Loan Parties’ monthly financial statements as required under Section 5.1 of the Agreement which certificate shows that, as of the last day of the most recently ended twelve-month period, the Loan Parties have a Fixed Charge Coverage Ratio not less than the amount set forth in Section 7(c) of the Agreement for the fiscal quarter in which such twelve-month period ended and a Leverage Ratio of not more than the amount forth in Section 7(d) of the Agreement for the fiscal quarter in which such twelve-month period ended, (b) a Compliance Certificate reflecting compliance with the covenants set forth in Sections 7(c) and 7(d) of the Agreement for the fiscal quarter with respect to which such Compliance Certificate is delivered and which includes an election by the Borrower to commence compliance with the financial covenants in Sections 7(c) and 7(d) of the Agreement (the documentation described in clauses (a) and (b), the “Early Election Documentation”) and (c) the date on which the Borrower delivered to Agent the Compliance Certificate for the fiscal quarter ending March 31, 2022.
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Covenant Conversion Date means the earlier to occur of either (i) the first date after the Fourth Amendment Closing Date on which Borrower has delivered the second of two Compliance Certificates in accordance with S ection 5.1 demonstrating compliance with the financial covenants set forth in S ections 7(c) and 7 (d) for the applicable measurement period, for two (2) consecutive Fiscal Quarters and (ii) August 10, 2022.
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Covenant Conversion Date means the date on which all the conditions set forth in Section 6.1(b) have been satisfied and the Company is required to comply with each of the covenants set forth in Exhibit G attached hereto. ---------
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Covenant Conversion Date means March 31, 2020 or such earlier date unanimously agreed to among the Administrative Agent, each of the Lenders and the Borrower;
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Covenant Conversion Date means the earlier to occur of either (i) the first date after the Fourth Amendment Closing Date on which Borrower has delivered the second of two Compliance Certificates in accordance with Section 5.1 demonstrating compliance with the financial covenants set forth in Sections 7(c) and 7(d) for the applicable measurement period, for two (2) consecutive Fiscal Quarters and (ii) August 10, 2022.
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Covenant Conversion Date means the date on which the sum of Borrower's cash and cash equivalents and short term investments, is equal to or greater than Twenty Million Dollars ($20,000,000).
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Related to Covenant Conversion Date

  • Judgment Conversion Date as defined in subsection 10.8(a).

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Conversion Date shall have the meaning set forth in Section 4(a).

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 85% of the lesser of (i) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if after the Interest Payment Date.

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country which issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established.

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

  • Default Conversion Price shall have the meaning set forth in Section 4(b).

  • Forced Conversion Notice Date shall have the meaning set forth in Section 6(d).

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding, (b) accrued but unpaid dividends and (c) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Date of Conversion Conversion Price:_______________________________________________________________ Shares To Be Delivered:_________________________________________________________ Signature:______________________________________________________________________ Print Name:_____________________________________________________________________ Address:________________________________________________________________________

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Fixed Conversion Rates means the Maximum Conversion Rate and the Minimum Conversion Rate.

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Final Preference Share Redemption Date means the date that falls twenty Business Days following the Valuation Date on which the Calculation Agent has determined the Final Preference Share Redemption Amount or, if earlier, the first Auto-Call Valuation Date on which an Auto-Call Trigger Event has occurred.

  • Early Preference Share Redemption Date means the day falling ten Business Days after the Early Preference Share Valuation Date.