Covenant Holiday Period definition

Covenant Holiday Period means the period commencing with the fiscal quarter of the Company ending on June 30, 2018 and ending immediately on the earlier of (i) the occurrence of any Covenant Reset Trigger and (ii) April 1, 2019.
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Covenant Holiday Period means the period of four consecutive fiscal quarters commencing on the first day of the fiscal quarter in which the consummation of the Covenant Holiday Acquisition occurs.
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Covenant Holiday Period shall have the meaning assigned thereto in Section 7.1.
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Examples of Covenant Holiday Period in a sentence

  • It is agreed any acceleration of the Term A Loans and termination of the Revolving Credit Commitments as set forth in this paragraph during the Covenant Holiday Period shall result in the automatic acceleration of the Term A-1 Loans.

  • The Issuer hereby expressly acknowledges and agrees that the Covenant Holiday STID Proposal and the derogations to the CTA, provided for under paragraph 2.2.2 above and any Financial Ratio Breach (other than with respect to the Total Debt CLCR and, for the avoidance of doubt, any Financial Ratio Breach during the Covenant Holiday Period) shall be resumed from the Interest Payment Date falling on December 31, 2021.

  • Neither Holdings nor the Parent Borrower will permit the Leverage Ratio as of the last day of any fiscal quarter ending after the Closing Date to exceed 3.50 to 1.00; provided that during the Covenant Holiday Period, neither Holdings nor the Parent Borrower will permit the Leverage Ratio as of the last day of any fiscal quarter ending during the Covenant Holiday Period to exceed 4.00 to 1.00.

  • In the fourth quarter of 2020, the Company entered into a letter agreement with RBC pursuant to which the Covenants were waived for the December 31, 2020 quarterly measurement date (the "Covenant Holiday Period Extension").

  • Pursuant to the Covenant Holiday Period Extension, the equipment leasing facility in the United States was reduced from US$16 million to US$14 million and the revolving Lease Facilities were amended to be amortizing facilities.

  • During the Covenant Holiday Period, the Company is able to borrow to a maximum of 75% of eligible accounts receivable and 25% of eligible inventory, less priority payables, subject to an aggregate limit of C$50.0 million including amounts borrowed under Leasing Facilities (as defined herein).

  • During the Covenant Holiday Period and the Covenant Holiday Period Extension, the Company was able to borrow to a maximum of 75% of eligible accounts receivable and 25% of eligible inventory, less priority payables, subject to an aggregate limit of $50.0 million including amounts borrowed under the Leasing Facilities.

  • A Covenant Holiday Period shall begin on the Business Day immediately following the date on which Borrower repays, in full, all outstanding Advances and other Credit Extensions under sublimits to the Revolving Line, all accrued interest thereon, and all other outstanding monetary Obligations outstanding under the Revolving Line.

  • At all times during the Covenant Holiday Period when no Loans (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding under the Credit Facility, the Borrower shall at all times ensure that it has unrestricted cash on hand (excluding any cash collateral provided by a Restricted Party to the Lender with respect to Letters of Credit) in an amount at least equal to U.S.$10,000,000.

  • Neither Holdings nor the Parent Borrower will permit the Leverage Ratio as of the last day of any fiscal quarter ending after the Restatement Effective Date to exceed 3.50 to 1.00; provided that during the Covenant Holiday Period, neither Holdings nor the Parent Borrower will permit the Leverage Ratio as of the last day of any fiscal quarter ending during the Covenant Holiday Period to exceed 4.00 to 1.00.


More Definitions of Covenant Holiday Period

Covenant Holiday Period means a period of four consecutive Fiscal Quarters if, as of the last day of the first Fiscal Quarter of such period, the Company shall have consummated one or more Permitted Acquisitions during the two-quarter period then ending with an aggregate purchase price (including any Debt assumed or issued in connection therewith, the amount thereof to be calculated in accordance with GAAP, but excluding (x) any common stock of the Parent or (y) any cash received substantially concurrently with such Acquisition from the issuance of any common stock of the Parent) for all such acquisitions during such two-quarter period in excess of the Dollar Equivalent Amount of $150,000,000; provided, further, that after the occurrence of a Covenant Holiday Period, a subsequent Covenant Holiday Period may only occur, in accordance with the terms of this definition, after the maximum Secured Leverage Ratio has returned to 3.75 to 1.00 for at least one full Fiscal Quarter.
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Covenant Holiday Period means a Total Leverage Holiday Period or a Senior Secured Leverage Holiday Period.
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Covenant Holiday Period means the period commencing on April 1, 2020 to and including September 30, 2020.
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Covenant Holiday Period means a period of four consecutive Fiscal Quarters if, as of the last day of the first Fiscal Quarter of such period, the Borrower shall have notified the Administrative Agent that (i) it elects to utilize a Covenant Holiday Period and (ii) it has consummated one or more Permitted Acquisitions during such fiscal quarter involving aggregate consideration (including the projected amount of any earnout or purchase price adjustments estimated in good faith by a Responsible Officer of the Borrower as of the date a Covenant Holiday Period election is made pursuant to the preceding clause (i) but excluding consideration consisting of equity interests of the Borrower or cash proceeds from the issuance or sale of equity interests of the Borrower) for all such acquisitions during such fiscal quarter in excess of $50,000,000; provided, however, that (i) the Borrower may only make two such elections following the Effective Date and (ii) a new Covenant Holiday Period may not be elected for at least one fiscal quarter following the end of the initial Covenant Holiday Period.
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Covenant Holiday Period means a period of four consecutive Fiscal Quarters if, as of the last day of the first Fiscal Quarter of such period, the Company shall have consummated one or more Permitted Acquisitions during the two-quarter period then ending with an aggregate purchase price (including any Debt assumed or issued in connection therewith, the amount thereof to be calculated in accordance with GAAP, but excluding (x) any common stock of the Parent or (y) any cash received substantially concurrently with such Acquisition from the issuance of any common stock of the Parent) for all such acquisitions during such two-quarter period in excess of the Dollar Equivalent Amount of $150,000,000; provided that (i) a Covenant Holiday Period may not occur during the Elevated Covenant Period and (ii) following the termination of the Elevated Covenant Period, a new Covenant Holiday Period shall commence upon the satisfaction of the preceding conditions only if the Company delivers a written request therefor to the Administrative Agent; provided, further, that after the occurrence of a Covenant Holiday Period, a subsequent Covenant Holiday Period may only occur, in accordance with the terms of this definition, after the maximum Secured Leverage Ratio has returned to 4.003.50 to 1.00 for at least one full Fiscal Quarter.
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Covenant Holiday Period means the period of four consecutive fiscal quarters commencing on the first day of the fiscal quarter in which the consummation of thea Covenant Holiday Acquisition occurs; provided that, if applicable, the two Covenant Holiday Periods shall be separated by a period of at least two full fiscal quarters during which no Covenant Holiday Period is in effect.
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Related to Covenant Holiday Period

  • Covenant Period means the period of time from the date of this Agreement to the date that is two years after the Date of Termination.

  • public holiday means any day other than Saturday or Sunday on which the banks in the City of London are not open for business;

  • Peak Period means the time between 6 a.m. and 10 p.m. (April through September) or between 7a.m. and 11 p.m. (October through March) on all days except Saturdays and Sundays, which daily time period will be subject to change from time to time at the Company's option. This change would occur after no less than ten (10) days notice has been given to all Customers who would be affected, and to the Commission.

  • Public Holidays means public holidays under NI Act., at the place where the Equipment is located, when banks are closed for business.

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal month of Parent most recently ended prior to a Covenant Trigger Event for which Borrowers are required to deliver to Agent monthly financial statements pursuant to Schedule 5.1 to this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (a) 15% of the Maximum Revolver Amount, and (b) $4,500,000 for 60 consecutive days.

  • Period shall have the meaning ascribed to it in Schedule 8;

  • Statutory Holiday means New Year’s Day, Family Day, Good Friday, Victoria Day, Canada Day, Civic Holiday, Labour Day, Thanksgiving Day, Christmas Day, and Boxing Day; and

  • Penalty Period has the meaning set forth in Section 6.3.

  • Semi-Annual Period means each period of six-months, commencing on the first day of a Fiscal Year; provided that the first such period shall begin on July 1, 2013 and end on December 31, 2013.

  • Non-Competition Period means the period the Executive is employed by the Company plus one (1) year from the Termination Date if the Executive's employment is terminated (i) by the Company for any reason, (ii) by the Executive for any reason, or (iii) by reason of either the Company's or the Executive's decision not to extend the term of this Agreement as contemplated by Section 1 hereof.

  • PEA Period means the period commencing at 9:30 a.m., Eastern time, on the fifth (5th) Business Day immediately prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately following, the effective date of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement).

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Bank Holiday means any day that is specified or proclaimed as a bank holiday, pursuant to section 1 of the Banking and Financial Dealings Act 1971;

  • Year means a calendar year.

  • Consent Period has the meaning set forth in Section 4.6(a).

  • Extended Reporting Period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim has been made during the policy period.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • Grace Period Business Day means a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Obligation and if a place or places are not so specified, in the jurisdiction of the Obligation Currency.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • 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.

  • assessment period means such period as is prescribed in sections 19 to 21 over which income falls to be calculated;

  • Twelve-Month Period means a period of twelve consecutive months determined on a rolling basis where a new twelve month period begins on the first day of each calendar month.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

  • Operating Day means the daily 24 hour period beginning at midnight for which transactions on the PJM Interchange Energy Market are scheduled.