Examples of Cure Contributions in a sentence
The parties hereby acknowledge that this Section may not be relied on for purposes of calculating any financial ratios other than as applicable to Sections 9.3.1 and 9.3.2. Notwithstanding the foregoing, for purposes of calculating Excess Cash Flow, EBITDA shall not include the amount of any Equity Cure Contributions.
All Equity Cure Contributions shall be disregarded for all purposes of this Agreement (including determining any baskets conditioned upon meeting a leverage ratio contained herein and in the other Credit Documents); provided, that, any such Equity Cure Contributions shall be included in Consolidated EBITDA for the purpose of determining compliance with the Financial Covenant for the applicable Cure Quarter and each fiscal quarter thereafter in a Test Period that includes the Cure Quarter.
If, after giving effect to the Equity Cure Contributions, Borrower shall then be in compliance with the terms of Section 9.3.1, Borrower shall be deemed to have satisfied the requirements of Section 9.3.1 on the relevant date of determination, and the applicable Event of Default shall automatically be deemed to have not occurred.
The Equity Cure Contributions must be received no later than the end of the applicable Cure Period.
The parties hereby acknowledge that this Section 9.3.2 may not be relied on for any other purposes and all Equity Cure Contributions shall be disregarded for all other purposes.
In any rolling twelve month period, there shall be no more than two (2) Equity Cure Contributions permitted, and no more than five (5) Equity Cure Contributions shall be permitted during the term of this Agreement.
Solely for the purpose of curing a financial covenant, any such Equity Cure Contributions shall be treated as follows: for the purposes of Section 7.09(a) and (b), Adjusted Consolidated EBITDA shall be increased by an amount equal to the Equity Cure Contributions, such increase to be included in Adjusted Consolidated EBITDA solely for the applicable reporting period.
All Equity Cure Contributions shall be disregarded for all purposes of this Agreement other than inclusion in the calculation of Consolidated EBITDA for the purpose of determining compliance with the Financial Covenants set forth in Section 6.10 at the end of such fiscal quarter and the subsequent three fiscal quarters, including the determination of the Cumulative Amount and all components thereof and any baskets with respect to the covenants contained in Article VI.
Solely for the purpose of curing a financial covenant pursuant to a Cure Contribution, any such Cure Contributions shall be included in the calculation of Net Working Capital, Adjusted Tangible Net Worth, or Adjusted EBITDA, as applicable, for the most recently ended month.
In any rolling twelve month period, there shall be no more than two (2) Cure Contributions or EWCLC Reduction Cures, in the aggregate, submitted under this Section 7.09(e) permitted, and no more than three (3) Cure Contributions or EWCLC Reduction Cures, in the aggregate, submitted under this Section 7.09(e) shall be permitted during the term of this Agreement.