Covenant Suspension Conditions definition

Covenant Suspension Conditions means, at any time, the satisfaction of each of the following conditions: (i) the Collateral Coverage Ratio shall be greater than 225%, (ii) the aggregate outstanding principal amount of the Loan shall be less than $600,000,000, (iii) no Default or Event of Default shall have occurred and be continuing and (iv) the Borrower shall have Unrestricted Cash on a Pro Forma Basis of at least $1,200,000,000.
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Covenant Suspension Conditions means that each of the following shall be satisfied:
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Covenant Suspension Conditions promptly after the occurrence thereof, an Officer's Certificate from a Responsible Officer of the Borrower certifying the satisfaction of the Covenant Suspension Conditions or the termination of a Covenant Suspension Period, together with all information reasonably requested by the Administrative Agent to determine such satisfaction or termination;
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More Definitions of Covenant Suspension Conditions

Covenant Suspension Conditions means, at any time prior to the Merger, that Cash Liquidity is greater than or equal to $1,100,000,000.
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Covenant Suspension Conditions is weekly at the time of delivery, clauses (b), (d)(i) and (d)(ii) of the definition of “Covenant Suspension Conditions” shall continue in effect until the Borrower demonstrates compliance with Section 6.10(a)(i) on the last day of the Test Period in which the Borrower has delivered such Financial Covenant Election by delivering to the Specified Revolving Lenders a certificate that (x) the sum of (A) the aggregate principal amount of Revolving Loans then outstanding plus (B) the amount by which the face amount of Letters of Credit then outstanding (other than Letters of Credit that are Cash Collateralized) is in excess of $25,000,000 in the aggregate, is less than or equal to 35.0% of the aggregate principal amount of Revolving Commitments then in effect on such Test Date or (y) Secured Leverage Ratio is less than or equal to 6.00 to 1.00 as of the last day of such Test Period.
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Covenant Suspension Conditions shall continue in effect until the Borrower demonstrates compliance with Section 6.10(a)(i) on the last day of the Test Period in which the Borrower has delivered such Financial Covenant Election by delivering to the Specified Revolving Lenders a certificate that (x) the sum of (A) the aggregate principal amount of Revolving Loans then outstanding plus (B) the amount by which the face amount of Letters of Credit then outstanding (other than Letters of Credit that are Cash Collateralized) is in excess of $25,000,000 in the aggregate, is less than or equal to 35.0% of the aggregate principal amount of Revolving Commitments then in effect on such Test Date or (y) Secured Leverage Ratio is less than or equal to 6.00 to 1.00 as of the last day of such Test Period.
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Covenant Suspension Conditions means, on any date, that (a) no Event of Default has occurred and is continuing as of such date; (b) the Investment Grade Rating Condition is satisfied as of such date; and (c) the Total Net Leverage Ratio is less than or equal to 3.75:1.00 as of such date.
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Covenant Suspension Conditions means that each of the following shall be satisfied since the Amendment No. 9 Effective Date (or in the case of clause (a)(i) since the Amendment No. 7 Effective Date) through the last day of the Covenant Suspension Period:
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Related to Covenant Suspension Conditions

  • Covenant Suspension Event has the meaning assigned to such term in Section 4.19.

  • Extension Conditions Defined in Section 3.06(a).

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. 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.

  • 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).

  • Suspension Event As defined in Section 5(b) hereof.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

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

  • Suspension Date has the meaning set forth in Section 4.18(a).

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (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) $50,000,000.

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Redemption Conditions means, with respect to any payment of cash in respect of the principal amount of any Permitted Convertible Debt, satisfaction of each of the following events: (a) no Default or Event of Default shall exist or result therefrom, and (b) both immediately before and at all times after such redemption, Borrower’s Qualified Cash shall be no less than the sum of 150% of the outstanding Secured Obligations plus the Qualified Cash A/P Amount.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Minimum Condition has the meaning set forth in Annex I.

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • End of Suspension Notice has the meaning set forth in Section 1(f)(ii).

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

  • Equity Conditions Failure means that on any applicable date the Equity Conditions have not been satisfied (or waived in writing by the Holder).

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