Covenant Termination Date definition

Covenant Termination Date means the earliest to occur of (1) the Guaranty Termination Date, (2) October 6, 2023, and (3) the first day on which (x) the Total Net Leverage Ratio of the Guarantor is less than or equal to 5.00:1.00 and (y) the EBITDAR to Rent Ratio is equal to or greater than 3.00:1.00. For the purpose of the foregoing:

Covenant Termination Date means the first date after the first anniversary of the Effective Date that is the last day of a fiscal quarter of the Company and on which the Leverage Ratio shall not exceed 1.50:1.00.

Covenant Termination Date has the meaning set forth in Section 1019(a) of this Indenture.

Examples of Covenant Termination Date in a sentence

• In addition to any other applicable restrictions hereunder, prior to the Guaranty Covenant Termination Date, Lease Guarantor shall not, directly or indirectly, declare or pay any dividend or make any other distribution with respect to its capital stock or other equity interests with any assets other than cash unless such dividend or distribution would not reasonably be expected to result in Lease Guarantor’s inability to perform its Lease Guaranty obligations under this Agreement.

• If any amount shall be paid to Lease Guarantor on account of any such reimbursement, indemnity, subrogation or contribution rights at any time prior to the Guaranty Covenant Termination Date, such amount shall be held in trust for Landlord and shall forthwith be paid over to Landlord to be credited and applied against the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms of the Lease or any applicable security agreement.

• In addition to any other applicable restrictions hereunder, prior to the Covenant Termination Date (as defined below), Guarantor shall not, directly or indirectly, declare or pay any dividend or make any other distribution with respect to its capital stock or other equity interests with any assets other than cash unless such dividend or distribution would not reasonably be expected to result in Guarantor’s inability to perform its Guaranty obligations under this Guaranty.

• Promptly following the Covenant Termination Date, the Company will provide an Officers’ Certificate to the Trustee regarding such occurrence.

• The Trustee shall have no obligation to independently determine or verify if a Covenant Termination Date has occurred or notify the Holders of the Covenant Termination Date.

More Definitions of Covenant Termination Date

Covenant Termination Date has the meaning set forth in Section 8.1(a).

Covenant Termination Date means: (i) If Executive's employment is terminated pursuant toa termination for good reason pursuant to Paragraph 7(e), the earlier of (i) the last day of the 6th full calendar month after the termination of employment and (ii) the expiration of the Term of Employment. (ii) If Executive's employment is terminated pursuant to a termination for good cause under Paragraph 7(c) or a change of control under Paragraph 7(f), the last day of the 12th full calendar month after the date on which Executive's employment is terminated. (iii) If Executive's employment is terminated pursuant to a termination for any reason other than by Executive under Paragraph 7(e), or by Company under Paragraphs 7(c) and 7(f), the date on which Executive's employment is terminated.

Covenant Termination Date has the meaning specified in Section 9.21.

Covenant Termination Date means the first date after the debt to the Bank Lenders has been paid in full that the unsecured senior debt of Atlas is rated as investment grade.

Covenant Termination Date means the first date that the unsecured senior debt of Atlas is rated “BB-” by Standard & Poor’s or “Ba3” by Mxxxx’x Investors Service which comes after the debt to the Bank Lenders has been paid in full.”

Covenant Termination Date shall have the meaning set forth in the KELP Agreement.

Covenant Termination Date has the meaning given such term in the IP Litigation Guarantee.