Covenant Relief Termination Notice definition

Covenant Relief Termination Notice has the meaning given to that term in the definition of “Covenant Relief Period”.
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Covenant Relief Termination Notice means a notice in writing delivered by the Borrower to the Administrative Agent designating a Covenant Relief Termination Date as contemplated by clause (b) of the definition thereof and certifying that, as of such Covenant Relief Termination Date, (i) no Default or Unmatured Default shall have occurred and be continuing and (ii) the Borrower shall be in pro forma compliance with Section 6.12(a)(ii) as of the last day of the immediately preceding fiscal quarter (determined as if the Covenant Relief Period had ended prior to such day and setting forth a reasonably detailed calculation of the Consolidated Leverage Ratio determined as of such day). “Credit Facility” means the credit facility established pursuant to Article 2. “Credit Parties” means the Borrower and each Guarantor. “Currencies” means Dollars, each Foreign Currency and, as applicable, any Additional L/C Currency and “Currency” means any of such Currencies. “Daily Simple SOFR” means, for any day (a “SOFR Rate Day”), a rate per annum equal to the greater of (a) SOFR for the day (such day “i”) that is five U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website and (b) the Floor. If by 5:00 pm (New York City time) on the second U.S. Government Securities Business Day immediately following any day “i”, the SOFR in respect of such day “i” has not been published on the SOFR Administrator’s Website and a Benchmark Replacement Date with respect to the Daily Simple SOFR has not occurred, then the SOFR for such day “i” will be the SOFR as published in respect of the first preceding U.S. Government Securities Business Day for which such SOFR was published on the SOFR Administrator’s Website; provided that any SOFR determined pursuant to this sentence shall be utilized for purposes of calculation of Daily Simple SOFR for no more than three (3) consecutive SOFR Rate Days. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice to the Borrower. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, a...
Sample 1
Covenant Relief Termination Notice means a notice in writing delivered by the Borrower to the Administrative Agent designating a Covenant Relief Termination Date as contemplated by clause (b) of the definition thereof and certifying that, as of such Covenant Relief Termination Date, (i) no Default or Unmatured Default shall have occurred and be continuing and (ii) the Borrower shall be in pro forma compliance with Section 6.12(a)(ii) as of the last day of the immediately preceding fiscal quarter (determined as if the Covenant Relief Period had ended prior to such day and setting forth a reasonably detailed calculation of the Consolidated Leverage Ratio determined as of such day).
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Related to Covenant Relief Termination Notice

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Notice of Termination for Good Reason shall have the meaning set forth in Section 1(t).

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Potential Termination Event means an event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event.

  • Notice of Termination means a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment under the provision so indicated.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of (1) two years following such Change in Control or (2) the Executive’s death.

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

  • 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.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Agreement Termination Date is defined in Section 7.4.

  • Event Termination Date See Section 2(e) hereof.

  • 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.

  • Effective Date of Termination means the date on which a Qualifying Termination occurs, as provided in Section 2.2 herein, which triggers the payment of Severance Benefits hereunder.

  • Servicer Termination Notice Defined in Section 6.15.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

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

  • Early Termination Notice is defined in Section 4.2 of this Agreement.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • 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.

  • Noncompetition Period has the meaning set forth in Section 9.01.

  • 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.