Coverage Covenant definition

Coverage Covenant shall have the meaning set forth in Section 6.10(b).

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Coverage Covenant has the meaning assigned to such term in Section 6.12(c).

Coverage Covenant and any such other facility, an “Other Facility”), Guarantor has entered into amendments to implement the changes set forth in this Amendment in such Other Facility, and, in each case, after giving effect to such amendment, the Interest Coverage Covenant set forth in such Other Facility is no more restrictive to Guarantor than the Interest Coverage Covenant set forth in Section 5(c) of the Guaranty after giving effect to this Amendment. For the avoidance of doubt, Guarantor hereby acknowledges and agrees that, notwithstanding the changes to Section 5(c) of the Guaranty set forth in this Amendment, Section 5 of the Guaranty shall remain at all times subject to Section 34 of the Guarantee in all respects (such date, the “Amendment Effective Date”).

Examples of Coverage Covenant in a sentence

Subject to the satisfaction of the conditions precedent set forth in Section 4(b), the Required Lenders waive any Default arising from the failure of the Company to comply with Section 7.10(b) (Minimum Fixed Charge Coverage Covenant) of the Credit Agreement for the Computation Period ending December 31, 2002.
If, at any time, the Issuer does not have a number of shares reserved and available exclusively for the Issuer in case of the conversion of any Notes equal to 150% of the outstanding aggregate principal amount converted into CHF using the Noteholder's Rate of Exchange divided by the applicable Conversion Price B, and the Issuer has not rectified this within a period of 20 Trading Days following the initial breach, then this is considered a Breach of the Share Coverage Covenant.
Without limiting the generality of the foregoing, each set of projections shall include a detailed analysis of "lease-up" period applicable to the particular Facility and the anticipated point at which such Facility shall achieve a level of Operating Cash Flow sufficient to satisfy the Debt Service Coverage Covenant and Debt Service After Management Fee Coverage Covenant, each as set forth in Section 10.14 herein.
For the avoidance of doubt, the Fixed Charge Coverage Covenant shall not be tested on the last day of any Test Period (and will not give rise to any Default or any Event of Default on such day) if the Borrower has not paid any Restricted Payment in cash to the holders of any Preferred Stock during the Test Period then ended.
No Interest Coverage Equity Cure Contribution shall be any greater than the minimum amount required for the Borrower to be in compliance with the Interest Coverage Covenant in the applicable Interest Coverage Cure Quarter including, without limitation, for purposes of calculating any amounts to be added back to Consolidated EBITDA pursuant to clause (o) of the definition thereof.
The Company has requested that the Banks (i) modify certain affirmative and negative covenants to permit the Company to guarantee certain indebtedness and to permit the Company's Subsidiary, International, to enter into certain indebtedness, and (ii) to waive the Company's noncompliance with its Fixed Charge Coverage Covenant, and other covenants, as of September 30, 1996.
No Interest Coverage Equity Cure Contribution shall be any greater than the minimum amount required for the Borrower to be in compliance with the Interest Coverage Covenant in the applicable Interest Coverage Cure Quarter.
Furthermore, notwithstanding anything to the contrary in Section 8.03, on and after the First Amendment Effective Date, other than for purposes of Section 8.03, all references to the Financial Covenant in this Agreement shall include the Interest Coverage Covenant.
No Borrower shall be permitted to pay dividends, management fees (except for Permitted Management Fees), capital distributions or other payments to its members or other Persons (all of the foregoing, collectively "Distributions") during the term of the Loan without FINOVA's prior written consent, until the first month in which such Borrower first achieves compliance with the Debt Service Coverage Covenant.
For purposes of calculating the Fixed Charge Coverage Covenant set forth in Section 8.13(C) of the Credit Agreement, and the Total Debt to consolidated EBITDA covenant set forth in Section 8.13(G) of the Credit Agreement, the Federal Settlement Amount plus the additional sum of $5,000,000 for costs and expenses relating to the Federal Settlement Amount shall not be classified as a reduction to EBITDA for the applicable measurement periods.

More Definitions of Coverage Covenant

Coverage Covenant means the covenant made by the District in the Bond Resolution to establish, maintain and collect such assessments and rates or tolls and charges levied and collected in the same manner as are assessments for service by its Irrigation Facilities in an amount which, together with the collection of ULID Assessments, other Gross Revenue and other District revenues available and directed by the Board to be used therefor, will make available annually an amount sufficient (1) to pay Operating and Maintenance Expenses, (2) to pay amounts due on the Prior Lien Obligation, (3) to pay debt service on the Parity Bonds outstanding, (4) to maintain the Reserve Requirement, and (5) to make and satisfy any other payments and funding requirements required by the Bond Resolution.

Coverage Covenant shall have the meaning assigned thereto in the SSLA Guarantee.