Examples of Covenant Holiday Period in a sentence
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.
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).
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").
While prisoner and widow- headed households are often amongst the poorer households, the high proportion of female household heads has also presented a challenge to the traditional gender roles in Rwanda.
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.
Further, NCM LLC can make available cash distributions to its members (AMC, Cinemark, Regal and NCM, Inc.) during the Covenant Holiday Period only if trailing 12-month Consolidated EBITDA (as defined in the Credit Agreement) equals or exceeds $277.0 million and outstanding loans under the Revolving Credit Facility are equal to or less than $39.0 million.
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 many of the AMSs, pawn broking activities are governed by legislation, such as the Pawnbrokers Act 1972 in Malaysia.
Not permit the Leverage Ratio as of the last day of any Computation Period (other than during a Covenant Holiday Period) to exceed 4.00 to 1.00; or to exceed 4.50 to 1.00 during any Covenant Holiday Period.