Debt Covenant definition

Debt Covenant has the meaning assigned such term in Section 9.02.

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Debt Covenant means any provision of any Contract to which the

Debt Covenant means any provision of any Contract to which the ------------- Company is a party, or by which its assets are bound, which imposes one or more restrictions on the financial activities or transactions of the Company, including, but not limited to, the disbursement or other transfer of money or property to Members.

Examples of Debt Covenant in a sentence

• If any amount is payable under this Agreement in excess of the Permitted Cash Amount (the “Debt Covenant Shortfall”) on the applicable payment date, the Company shall pay the Permitted Cash Amount and shall pay the Debt Covenant Shortfall (in whole or in part) as rapidly as permitted by and in accordance with the terms of the Debt Agreement.

• The obligation to pay the Debt Covenant Shortfall shall constitute subordinated debt of the Company until paid.

• Notwithstanding the foregoing, throughout the period of time during which the Guarantor is a Public Filer, notice of any Debt Covenant Default by Guarantor shall be deemed given to Landlord in satisfaction of Guarantor’s obligations hereunder if such Debt Covenant Default is disclosed in a form 8-K filed by Guarantor or in any other publicly available information filed with, at the direction of, or pursuant to the requirements of, the Securities and Exchange Commission.

• In consideration for the covenants given to the Security Agent by each Obligor in relation to Clause 31.2 (Parallel Debt (Covenant to pay the Security Agent)), the Security Agent agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Security Agent in accordance with the foregoing provisions of this Clause 31 (The Security Agent).

• In consideration for the covenants given to the Trustee by each Obligor in Clause 25.22 (Parallel Debt (Covenant to pay the Trustee)), the Trustee agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Trustee in accordance with the provisions of Clause 30.1 (Order of Application).

• In consideration for the covenants given to the Security Agent by each Obligor in relation to Clause 32.2 (Parallel Debt (Covenant to pay the Security Agent)), the Security Agent agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Security Agent in accordance with the foregoing provisions of this Clause 32 (The Security Agent).

• The Maximum Debt Covenant requires that non-performing loans and foreclosed real estate be excluded from the asset value of the Company’s Portfolio Loans when calculating the maximum amount of debt allowable.

• The date the covenants in this Section 6 shall terminate is referred to herein as the "Debt Covenant Termination Date".

• Breach the Maximum Debt Covenant as defined in Borrower’s Confidential Private Offering Memoranda, dated February 1, 2013.

• In consideration for the covenants given to the Security Agent by each Obligor in Clause 26.2 (Parallel Debt (Covenant to pay the Security Agent)), the Security Agent agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Security Agent in accordance with the provisions of Clause 31.1 (Order of Application).

More Definitions of Debt Covenant

Debt Covenant means any provision of any Contract to which the Company is a party, or by which its assets are bound, which imposes one or more restrictions on the financial activities or transactions of the Company, including, but not limited to, the disbursement or other transfer of money or property to Members.

Debt Covenant. For so long as the NewCo Note remains outstanding, no senior or pari passu indebtedness for borrowed money; provided, that, NewCo shall be permitted to put in place a revolving working capital facility (“Revolver”) of up to $500,000 with Persistency that shall be permitted to be paid up and down for so long as there is no default or deferment of the NewCo note, and shall be pari passu with the NewCo Note upon a default of the NewCo Note. The interest on the Revolver will be 8%. The revolver can only be drawn if the Rights Issue has been fully funded up to $2,000,000.

Debt Covenant has the meaning set forth in section 5.1(Y).