Covenant Relief Termination Event definition

Covenant Relief Termination Event means the occurrence of the following: (a) during the period beginning on the Eighth Amendment Effective Date and ending on June 27, 2025, the Certificate of Financial Officer delivered by STX for the most recently ended fiscal quarterTest Period shows a Total Leverage Ratio of less than or equal to 3.00 to 1.00 and (b) within 30 days after delivery of such Certificate of Financial Officer, the Borrower notifies the Administrative Agent in writing that it has terminated the Covenant Relief Period.
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Covenant Relief Termination Event has the meaning specified in the Current Credit Agreement (as in effect on the First Amendment Effective Date).
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Covenant Relief Termination Event means that U.S. Holdco 2 (or any member of the Restricted Group) shall make any payment, directly or indirectly, in respect of the Indemnity Documents, including any Quarterly Payment, any 4Q Payment, and Cash True-Up Payment or Accrued Amounts, but excluding the Quarterly Payment in respect of the second fiscal quarter of 2020 to the extent disclosed as the net payment amount in the Investor Presentation titled “First Quarter 2020 Financial Results” of Holdings dated May 11, 2020, copies of which have been made available to the Lenders on or prior to May 20, 2020, which shall be permitted to be paid without resulting in a Covenant Relief Termination Event. All capitalized terms used in this definition but not otherwise defined herein shall have the meanings assigned in the Indemnity Agreement. The occurrence of a Covenant Relief Termination Event shall cause the financial covenants set out in Section 6.12 and 6.13 to apply and to be tested as set out in Section 6.12 and 6.13. It is understood and agreed that if, for any period of four fiscal quarters ended during the Relief Period, Holdings is in compliance with the financial covenants set out in Section 6.12 and 6.13 as of the last day of such period of four fiscal quarters as they would apply without giving effect to the Relief Period (as evidenced by the certificate delivered to the Administrative Agent from a Financial Officer of Holdings pursuant to Section 5.01(c)(ii)(A)) and is required to make payments under the Indemnity Documents as a result of being in compliance with such financial covenants, the Loan Parties shall be entitled to make such payments in accordance with (and subject to) the terms of the Indemnity Documents, subject to compliance with Section 6.08 and any other applicable provisions of this Agreement.
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More Definitions of Covenant Relief Termination Event

Covenant Relief Termination Event means the occurrence of the following: (a) during the period beginning on the Eighth Amendment Effective Date and ending on June 27, 2025, the Certificate of Financial Officer delivered by STX for the most recently ended fiscal quarterTest Period shows a Total Leverage Ratio of less than or equal to 3.00 to 1.00 and (b) within 30 days after delivery of such Certificate of Financial Officer, the Borrower notifies the Administrative Agent in writing that it has terminated the Covenant Relief Period.
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Related to Covenant Relief Termination Event

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Event of Termination has the meaning specified in Section 7.01.

  • Company Termination Event means any of the following:

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Good Reason Event means (1) fraud, criminal conduct or willful misconduct by or on the part of the Company, (2) a representation or warranty made by the Company herein proving to be untrue in any material respect, or (3) a default in the due performance or observance by the Company of any covenant or agreement contained in this Agreement and such default continuing unremedied for a period of 30 days after written notice thereof to the Company by the Dealer Manager.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Forbearance Termination Date means the earlier to occur of (i) the Applicable Termination Date and (ii) the date on which the forbearance effectuated by Section 3(b) of this Agreement shall cease due to the occurrence of any of the events described in Section 4 hereof.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.