Covenant Relief Period Conditions definition

Covenant Relief Period Conditions means the Borrower complies with each of the requirements listed on Schedule I to that certain Amendment No. 3 to this Agreement, dated as of May 8, 2020, among the Borrower, the Guarantors, the Lenders party thereto and the Administrative Agent.
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Covenant Relief Period Conditions means, during the Covenant Relief Period, the Borrowers: (A) shall not permit the aggregate sum of (a) the Unrestricted Cash of the Borrowers and their Subsidiaries and (b) the aggregate Available Unused Commitments of all Revolving Facility Lenders (the sum of (a) and (b), the “Borrowers’ Liquidity”) at any time (commencing on the First Amendment Effective Date and ending on (i) September 30, 2021 or (ii) if the Covenant Relief Period terminates in accordance with clause (a) of the definition thereof prior to September 30, 2021, the Covenant Relief Period Termination Date), in each case, to be less than $200.0 million ($475.0 million from and after the occurrence of a CEOC Event); (B) shall furnish to the Administrative Agent (which will promptly furnish such certificate to the Revolving Facility Lenders) (commencing with the calendar month ending June 30, 2020 and ending with (i) the calendar month ending September 30, 2021 or (ii) if the Covenant Relief Period terminates in accordance with clause (a) of the definition thereof prior to September 30, 2021, the last calendar month ending before the Covenant Relief Period Termination Date) a certificate of a Responsible Officer of the Initial Borrower (each, a “Minimum Liquidity Certificate”) setting forth in reasonable detail the computations necessary (as determined in good faith by the Initial Borrower) to determine whether the Borrowers and their Subsidiaries are in compliance with clause (1) of the Covenant Relief Period Conditions as of the last day of each calendar month within ten (10) days after the last day of each such calendar month; provided that if during any week during such period the Borrowers’ Liquidity is less than $300.00 million ($575.0 million from and after the occurrence of a CEOC Event), the Initial Borrower shall furnish to the Administrative Agent (which will promptly furnish such certificate to the Revolving Facility Lenders) a Minimum Liquidity Certificate as of the Friday of such week (and as of Friday of each succeeding week until the Borrower’s Liquidity as certified in any Minimum Liquidity Certificate delivered pursuant to this clause (2) is greater than or equal to $300.0 million ($575.0 million from and after the occurrence of a CEOC Event)) no later than Friday of the following week; and (C) shall not, and shall not permit any of its Subsidiaries to, make any Investments pursuant to Sections 6.04(s), 6.04(ff) or 6.04(hh) (commencing on the First Amendment Effective Date ...
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Covenant Relief Period Conditions means each of the requirements listed on Schedule I to Amendment No. 1. “Covenant Relief Period Termination Notice” means a certificate of a Responsible Officer of the Borrower (a) stating that the Borrower irrevocably elects to terminate the Covenant Relief Period effective as of the date of delivery of such Covenant Relief Period Termination Notice to the Administrative Agent and (b) certifying that the Borrower would have been in compliance with the Financial Covenants as of the then most recently ended Test Period, had Sections 7.12(1)(b) and (2)(b) not been in effect, and attaching thereto a calculation of the First Lien Net Leverage Ratio and the Fixed Charge Coverage Ratio, in each case, as of the last day of such Test Period. “Extended Restricted Period” means, if the Covenant Relief Period Termination Date is the date specified in clause (a) of the definition of “Covenant Relief Period”, the period commencing on such date and ending on the date on which the Compliance Certificate for the fiscal quarter ending June 30, 2021 is delivered to the Administrative Agent pursuant to Section 6.02(1). “MSELF Eligible Indebtedness” means any secured term loan facility incurred under Section 2.14 in an aggregate outstanding principal amount not to exceed $100.0 million in compliance with the MSELF Program Requirements. 2
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More Definitions of Covenant Relief Period Conditions

Covenant Relief Period Conditions means the Borrower complies with each of the requirements listed on Schedule I to that certain Amendment No. 4, dated as of June 15, 2020, among the Borrower, the Guarantors, the Lenders party thereto and the Administrative Agent.
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Covenant Relief Period Conditions means, during the Covenant Relief Period (a) Borrower shall accrue and pay unused commitment fees on the Closing Date Revolving Facility at the Applicable Fee Percentage set forth for Pricing Level I in Annex B, (b) Borrower shall accrue and pay interest on the Revolving Loans and Swingline Loans (in each case, under the Closing Date Revolving Facility) and the Term A Facility Loans at the Applicable Margin set forth for Pricing Level I in Annex B, (c) Borrower shall accrue and pay Letter of Credit participation fees for Letters of Credit issued under the Closing Date Revolving Facility at the Applicable Margin set forth for Pricing Level I in Annex B and (d) neither Borrower nor any of its Restricted Subsidiaries shall, directly or indirectly, declare or make any Restricted Payments under Sections 10.06(a), (i), (j), (k), (p) or (q).
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Covenant Relief Period Conditions means the following conditions during the Covenant Relief Period:
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Covenant Relief Period Conditions means the conditions set forth on Schedule 1 hereto.
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Covenant Relief Period Conditions has the meaning assigned to such term in Amendment No. 3.
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Related to Covenant Relief Period Conditions

  • Covenant Relief Period means the period commencing on the Amendment No. 1 Effective Date and ending on and including December 31, 2022.

  • Eviction Relief Period means the term of this Agreement.

  • Financial Performance Covenants means the covenants of the Borrower set forth in Section 10.11.

  • Covenant Compliance Event means, at any time, Availability is less than the greater of (i) ten percent (10%) of the Loan Cap and (ii) $15,000,000. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • 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.

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

  • Financial Performance Covenant means the covenant set forth in Section 6.11.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • 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.

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Pre commencement condition means a condition imposed on the grant of permission which must be complied with: before any building/ other operation/ or use of the land comprised in the development is begun.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • 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.

  • Covenant Suspension Event has the meaning assigned to it in Section 3.22(b).

  • Waiver Period means, for each applicable fee, the period of time from the initial effective date of the MIAX PEARL Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior to the termination of the Waiver Period and effective date of any such applicable fee.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • Restrictive Covenant Agreements has the meaning set forth in the Recitals.

  • Review Conditions means (i) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger for that Payment Date and (ii) the Noteholders or Note Owners, as applicable, have voted, pursuant to Section 2.03(d) of the Receivables Purchase Agreement, to direct an Asset Representations Review of the Subject Receivables.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.