Cure Contribution definition

Cure Contribution shall have the meaning assigned to such term in Section 7.02(a).

Cure Contribution means an equity contribution by Retailco, NuDevco Retail or the holder of an Equity Interest in Parent permitted by the applicable organizational documents of Parent or the incurrence of Subordinated Debt permitted by Section 7.13(c), in each case, for purpose of curing a Default or Event of Default which, without such contribution, would occur as a result of a failure to comply with Section 7.09(a) or (b).

Cure Contribution means a Contribution (or portion thereof), in an amount as directed and set forth in the associated Contribution Notice by the applicable Contributor (or the Collateral Manager if no direction is specified by the applicable Contributor), that will be used as Collateral Principal Collections or Collateral Interest Collections (i) to cause a failing Collateral Coverage Test to be satisfied by an amount up to [ ]% more than the ratio (expressed as a percentage) required by the applicable Collateral Coverage Test, and/or (ii) with respect to any Collateral Coverage Test that with the passage of time, is reasonably expected to fail to be satisfied as determined by the applicable Contributor, to cause such Collateral Coverage Test to continue to be satisfied by an amount up to [ ]% more than the ratio (expressed as a percentage) required by the applicable Collateral Coverage Test.

Examples of Cure Contribution in a sentence

• There shall be no pro forma reduction in Consolidated Total Funded Indebtedness (by netting or otherwise) with the proceeds of any Equity Cure Contribution for determining compliance with the Financial Covenant under Section 6.08 as of and for the Test Period ending on the last day of the Cure Quarter; provided that such Equity Cure Contribution shall reduce Consolidated Total Funded Indebtedness in future fiscal quarters to the extent used to prepay any applicable Indebtedness.

• Upon receipt of any Equity Cure Contribution, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of such Equity Cure Contribution.

• A notice delivered to the holders of the Subordinated Notes and the Trustee by the Collateral Manager within two Business Days of receipt of any Contribution Notice relating to a Cure Contribution stating that the Collateral Manager has determined that the form of proposed Cure Contribution will require the Collateral Manager to comply with the U.S. Risk Retention Requirements with respect to such Cure Contribution.

• There shall be no pro forma reduction in Indebtedness with the proceeds of the Equity Cure Contribution for purposes of determining compliance with the Financial Covenant for the purpose of determining any pricing, financial covenant based conditions or baskets with respect to the covenants contained in this Agreement, in each case, for the applicable Cure Quarter.

• There shall be no pro forma reduction in Consolidated Total Funded Indebtedness as a result of any prepayments of Indebtedness with the proceeds of any Equity Cure Contribution for determining compliance with the Total Leverage Covenant under Section 6.08 as of and for the Test Period ending on the last day of the Cure Quarter; provided that such Equity Cure Contribution shall reduce Consolidated Total Funded Indebtedness in future fiscal quarters to the extent used to prepay any applicable Indebtedness.

More Definitions of Cure Contribution

Cure Contribution means a Contribution (or portion thereof) in the amount set forth in a Contribution Notice that shall be used as Principal Proceeds or Interest Proceeds under this Indenture for one or both of the following purposes (in each case, as directed by the applicable Contributor): (i) to cause a failing Coverage Test to be satisfied or (ii) with respect to any Coverage Test that, with the passage of time, is reasonably expected to fail to be satisfied as determined by the Contributor, to cause such Coverage Test to continue to be satisfied.

Cure Contribution shall have the meaning assigned to such term in the First Lien Credit Agreement.

Cure Contribution. A Contribution (or portion thereof), that shall be used as Principal Proceeds or Interest Proceeds (in each case, as directed by the applicable Contributor) that is necessary to cause a failing Coverage Test to be satisfied.

Cure Contribution shall have the meaning as defined in Section 10.3.

Cure Contribution means a Contribution (or portion thereof) in the amount set forth in a Contribution Notice that shall be used as Principal Proceeds or Interest Proceeds (in each case, as directed by the applicable Contributor) that is necessary to cause a Coverage Test to be satisfied if such test is failing, or improved if such test is satisfied by less than or equal to 0.50%.

Cure Contribution means capital contributions or other equity infusions to the Parent made on or before the 30th day after the date the Parent has failed to comply with the covenant set forth in Section 6.08(a), which cures such default.

Cure Contribution. A Contribution (or portion thereof), in an amount as directed and set forth in the associated notice of such Contribution by the applicable Contributor, that shall be used as Principal Proceeds or Interest Proceeds (i) to cause a failing Coverage Test to be satisfied and/or (ii) with respect to any Coverage Test that, as of the next Distribution Date, is expected to fail to be satisfied as reasonably determined by the applicable Contributor, to cause such Coverage Test to continue to be satisfied; provided that the amount of any Cure Contribution may not exceed the amount that, on a pro forma basis after giving effect to such Cure Contribution, would cause the applicable Coverage Test to be satisfied by more than 1.0% over the applicable Required Coverage Ratio; provided, further, that no more than three Cure Contributions shall have been made since the Refinancing Date; provided, further, that any Contribution designated as Principal Proceeds shall not be designated as Interest Proceeds thereafter.