Covenant Reduction Date definition

Covenant Reduction Date means the last day of the fiscal quarter in which any Loan Party either (a) receives proceeds of not less than $200,000,000 from any Equity Issuance of a Loan Party or (b) receives aggregate proceeds in an amount in excess of $200,000,000 from either (i) the issuance of the Senior Unsecured Notes or unsecured Subordinated Debt or (ii) a combination of the issuance of the Senior Unsecured Notes or unsecured Subordinated Debt and an Equity Issuance of a Loan Party.
Sample 1
Covenant Reduction Date means the last day of the fiscal quarter in which any Loan Party either (a) receives proceeds of not less than $200,000,000 from any Equity Issuance of a Loan Party or (b) receives aggregate proceeds in an amount in excess of $200,000,000 from either (i) the issuance of the Senior Unsecured Notes or unsecured Subordinated Debt (other than that portion of an issuance used to refinance any Senior Unsecured Notes or unsecured Subordinated Debt, provided, for the avoidance of doubt, the amount of the Senior Unsecured Notes and/or unsecured Subordinated Debt so refinanced shall be included in calculating the aggregate proceeds received) or (ii) a combination of the issuance of the Senior Unsecured Notes or unsecured Subordinated Debt (other than that portion of an issuance used to refinance any Senior Unsecured Notes or unsecured Subordinated Debt, provided, for the avoidance of doubt, the amount of the Senior Unsecured Notes and/or unsecured Subordinated Debt so refinanced shall be included in calculating the aggregate proceeds received) and an Equity Issuance of a Loan Party.
Sample 1
Covenant Reduction Date means the date that is the earlier to occur of (a) the date that the Valley Systems Acquisition is consummated and (b) June 30, 1999.
Sample 1

Examples of Covenant Reduction Date in a sentence

  • Permit the Combined Senior Secured Leverage Ratio (1) as of the end of any fiscal quarter ending prior to a Covenant Reduction Date to be greater than the ratio set forth below opposite such fiscal quarter: September 30, 2012 3.25:1.00 December 31, 2012 3.00:1.00 March 31, 2013 and each fiscal quarter ending thereafter 2.75:1.00 and (2) as of the end of any fiscal quarter ending from the occurrence of the Covenant Reduction Date and each fiscal quarter ending thereafter to be greater than 2.75:1.00.


More Definitions of Covenant Reduction Date

Covenant Reduction Date means the earlier of (i) the date that both the ratio of Funded Debt to pro forma EBITDA is 3.50 to 1.00 or less for the remaining term of the Loans as required by Section 7.11 ------------ of this Agreement and the ratio of Senior Debt to pro forma EBITDA is 2.50 to 1.00 or less for the remaining term of the Loans as required by Section 7.12 of this Agreement, and (ii) the date (which must occur ------------ after the fiscal period for which the Company has delivered a certificate pursuant to Section 6.01(d) that reflects that the above --------------- referenced ratios have been met by the Company for such fiscal period and that no Default or Event of Default has occurred and is continuing) that the Company notifies the Administrative Agent in writing that the above-referenced covenants have been voluntarily reduced by the Company to the levels specified in clause (i) above for the remaining term of the Loans.
Sample 1

Related to Covenant Reduction Date

  • Recalculation Date means the Valuation Date that gives rise to the dispute under Paragraph 4; provided, however, that if a subsequent Valuation Date occurs under Paragraph 2 prior to the resolution of the dispute, then the “Recalculation Date” means the most recent Valuation Date under Paragraph 2.

  • Application Date means the dates set out in clause 3.1(a), by which Athletes must submit a completed Athlete Application in accordance with clause 8.3 of the NZOC Nomination and Selection Regulation.

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • Commitment Reduction Notice has the meaning given that term in Section 2.13.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Reduction Date has the meaning set forth in Section 20.1B.

  • The calculation date means the first date on which the purchasers of ordinary shares of the Company shall not be granted the rights to receive the dividend payment (the first date that the SET posts XD sign).

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • 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.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Interest Calculation Period means the interest calculation period set out or referred to in item 5(d) of the Mortgage Form;

  • Application Period means the months beginning with the month in which the application is considered to be filed, through and including the month in which an eligibility determination is made.

  • Collection Date means the date on which the aggregate outstanding principal amount of the Advances have been repaid in full and all Interest and fees and all other Obligations (other than contingent indemnification and reimbursement obligations which are unknown, unmatured and/or for which no claim giving rise thereto has been asserted) have been paid in full, and the Borrower shall have no further right to request any additional Advances.

  • Computation Date is defined in Section 2.04.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Monthly Report Determination Date The meaning specified in Section 10.7(a).

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Rate Calculation Date means the day which is two Rate Calculation Business Days before the due date of the relevant amount under these Conditions;

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

  • Observation Date means each of the following Observation Dates:

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Observation Date (k) means the "Observation Date (k)" as specified in § 1 of the Product and Underlying Data. If an Observation Date (k) is not a Calculation Date, the immediately following day, which is a Calculation Date shall be the respective Observation Date (k). The respective Early Payment Date (k) will be postponed accordingly. Interest shall not be payable due to such postponement.

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • Certification Date means the later of the date on which an order granting certification or authorization of a Proceeding against one or more Non-Settling Defendants is issued by a Court and the time to appeal such certification or authorization has expired without any appeal being taken, or if an appeal is taken the date of the final disposition of such appeal.

  • Testing Date means each day which is: (i) the last day of the Issuer's financial year in any year; or (ii) the last day of each of the first three quarters of the Issuer's financial year in any year.

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.