Cure Action definition
Examples of Cure Action in a sentence
To the extent a fiscal quarter for which such Consolidated Fixed Charge Coverage Ratio is initially recalculated as a result of such Cure Action is included in the calculation of the Consolidated Fixed Charge Coverage Ratio in a subsequent fiscal period, the results of the Cure Action shall be included in the amount of EBITDA for such fiscal quarter in such subsequent fiscal period.
Nothing contained herein shall be interpreted to restrict the Administrative Agent and the Lenders from accelerating the Obligations following the occurrence and during the continuance of an Event of Default pursuant to Section 16.1.4 as a result of the occurrence of any Event of Default other than in respect of the Financial Covenant that is addressed as a consequence of a Cure Action being made.
To the extent a Fiscal Quarter for which such Fixed Charge Coverage Ratio is initially recalculated as a result of such Cure Action is included in the calculation of the Fixed Charge Coverage Ratio in a subsequent fiscal period, the results of the Cure Action shall be included in the amount of EBITDA for such Fiscal Quarter in such subsequent fiscal period.
If, after giving effect to the Cure Action, the Borrowers shall be in compliance with the requirements of Section 6.10(a), the Borrowers shall be deemed to have satisfied the requirements of Section 6.10(a) as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or Event of Default with respect to Section 6.10(a) that had occurred shall be deemed cured for purposes of this Agreement.
To the extent a fiscal quarter for which such Fixed Charge Coverage Ratio is initially recalculated as a result of such Cure Action is included in the calculation of the Fixed Charge Coverage Ratio in a subsequent fiscal period, the results of the Cure Action shall be included in the amount of EBITDA for such fiscal quarter in such subsequent fiscal period.
Notwithstanding the foregoing, to the extent that Holdings makes and declares a dividend pursuant to Section 10.6(c) during the period in which a Cure Action is included in the financial covenant compliance calculations as an increase in EBITDA, the amount of such Cure Action included in such calculations shall be reduced by the amount of any such dividend.
No more than one (1) Cure Action may be taken in any period of one hundred ten (110) consecutive days.
Although, to the extent that it is able to do so, the Collateral Manager may direct a Regulatory Refinancing in accordance with Condition 7(b)(ix) (Optional Redemption effected through Regulatory Refinancing) (or take other Retention Cure Action) and purchase additional Notes thereunder in order to maintain compliance with the Retention Requirements, there can be no assurance that the Regulatory Refinancing will be viewed effective for such purposes by the applicable governmental authorities.
The Investment Manager will not have any obligation to consider or take any Retention Cure Action and, if the Investment Manager does not take any Retention Cure Action, it may no longer be eligible to act as the Retention Holder pursuant to the EU Retention Requirements.
If within three (3) additional business days after Landlord’s receipt of the Second Cure Notice, Landlord fails to cure such failure (unless such failure is of a nature that cannot reasonably be cured within such three (3) business days, in which event Landlord shall be allowed an additional reasonable period of time to diligently pursue cure of such failure), then Tenant may proceed to undertake the Cure Action, subject to the provisions in Section 16(c) below.