Financial Covenant Amendment definition

Financial Covenant Amendment is defined in Section 6.3.
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Financial Covenant Amendment is defined in Section 8.02(r).
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Financial Covenant Amendment has the meaning set forth in Section 7.05(d).
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Examples of Financial Covenant Amendment in a sentence

  • Neither the Administrative Agent nor any Purchaser shall require any fee to provide a waiver of any breach of a Financial Covenant or to document a Financial Covenant Amendment if such fee is in addition to the fees otherwise payable to such party as a lender under the Ashland Credit Agreement (it being understood that the foregoing shall not apply to the reimbursement of the Administrative Agent for reasonable legal expenses to the extent otherwise payable under Section 15.04 hereof).

  • Covenants: Same as the Existing Credit Agreement, except that Section 7.11 of the Existing Credit Agreement shall, to the extent applicable, be amended consistent with the Financial Covenant Amendment.

  • Effective as of the Effective Date and immediately after giving effect to the amendments set forth in Section 2, the Existing Credit Agreement is hereby amended to reflect the Financial Covenant Amendment.

  • If the Collection Agent enters into any amendment or other modification to the Collection Agent Revolver or any successor or replacement credit agreement, in each case, that contains or amends any financial covenant, the Collection Agent shall provide a copy of such amendment or successor or replacement agreement (each, a "Financial Covenant Amendment ") to the Administrative Agent.

  • Without limiting the generality of the foregoing, when the Company proposes to enter into the Financial Covenant Amendment (under and as defined in the LIFO Credit Agreement), the Company shall negotiate to add as financial covenants under the Agreements financial covenants no less favorable to the holders of Notes than the covenants contained in the Financial Covenant Amendment are to the LIFO Banks.

  • Effective as of the Amendment Effective Date and immediately after giving effect to the amendments set forth in Section 2, the Credit Agreement is hereby amended to reflect the Financial Covenant Amendment.

  • The Financial Covenant Amendment as set forth in Section 2 hereof, shall become effective immediately after the effectiveness of the 2013 Replacement Term Loan Amendment when the Administrative Agent (or its counsel) shall have received from (i) the Required Revolving Credit Lenders, (ii) Holdings and (iii) the Borrower a counterpart of this Amendment No. 4 executed on behalf of each such Person (which may be transmitted by facsimile or by electronic transmission).

  • The financial covenants and pricing contained in the Financial Covenant Amendment shall be consistent with financial covenants and pricing consistent with then market conditions for similar quality credits (compared to Chiron) and remaining tenor to the Lease, Ground Lease and Purchase Agreement.

  • Upon the Financial Covenant Amendment, as defined in the LIFO Credit Agreement, becoming effective under the LIFO Credit Agreement, the terms of such Financing Covenant Amendment shall be deemed incorporated herein as though written herein and Borrower shall comply with the same.

  • On and after the Financial Covenant Amendment Expiration Date, subsection 13.1 shall be for the benefit of all Lenders and may be amended, modified or supplemented with the consent of the Required Lenders and the Company notwithstanding other provisions of the Credit Agreement to the contrary.


More Definitions of Financial Covenant Amendment

Financial Covenant Amendment shall have the meaning given to such term in Section 4.7 hereof.
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Financial Covenant Amendment has the meaning set forth in Section 7.05(d ). "Finance Charges " means, with respect to a Contract, any finance, interest, late or similar charges owing by an Obligor pursuant to such Contract. "Financing Party " means a third-party who receives an invoice from the applicable Originator billed to an Obligor with respect to the provision goods and services to such Obligor under a Contract whereby the Financing Party remits payment to such Originator on behalf of such Obligor in connection with a financing of the goods and/or services covered under such Contract. "First Amendment" means the First Amendment to the Amended and Restated Transfer and Administration Agreement, dated as of April 16, 2019, by and among the parties to the Amended and Restated Transfer Agreement. 98 70 Redline 14
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Financial Covenant Amendment by deleting the term “Tangible Net Worth” contained therein and replacing it with the term “Net Worth”.
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Financial Covenant Amendment means an amendment to this Agreement, in form and substance acceptable to Agent and Requisite Lenders in their sole discretion and duly executed and delivered by Parent, Borrowers, Agent and Requisite Lenders in accordance with the terms hereof, which shall, among other things: (i) establish financial covenants with respect to Senior Leverage Ratio, Total Leverage Ratio, minimum Tangible Net Worth, Fixed Charge Coverage Ratio and minimum Consolidated EBITDA, in each case, at levels reasonably acceptable to Parent, Borrowers, Agent and Requisite Lenders; and (ii) amend the definition of "Applicable Margin" to include a pricing grid for determination of "Applicable Margin" percentages that is reasonably acceptable to Parent, Borrowers, Agent and Requisite Lenders.
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Related to Financial Covenant Amendment

  • Financial Covenant has the meaning specified in Section 7.08.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 8.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

  • Restatement Agreement has the meaning set forth in the introductory statement of this Agreement.

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Fifth Amendment means the Fifth Amendment to Fifth Amended and Restated Credit Agreement dated as of August 25, 2016, among the Borrower, the Lenders party thereto, the Administrative Agent and the other Persons party thereto.

  • Forbearance Agreement means the forbearance agreement entered into by Granite Co. prior to the implementation of the 2011 Arrangement.

  • Amendment and Restatement Agreement means the Amendment and Restatement Agreement, dated as of January 29, 2016, among the Borrowers, the Lenders party thereto and the Administrative Agent.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Second Amendment Agreement means that certain Second Amendment Agreement dated as of October 4, 2011, among Xxxxx 0, xxx Xxxxxxxx, Xxxxxxx Xxxxx Capital Corporation, as administrative agent and collateral agent, and the Tranche B II Term Lenders party thereto, providing for, among other things, the amendment and restatement of the 2009 Credit Agreement.

  • Amendment Agreement shall have the meaning assigned to such term in the recitals hereto.

  • First Amendment means that certain First Amendment to Credit Agreement, dated as of February 27, 2017, among the Loan Parties, the Administrative Agent and the Lenders party thereto.

  • Sixth Amendment means the Sixth Amendment to Amended and Restated Senior Secured Credit Agreement, dated as of November 5, 2021, by and among Administrative Agent, Collateral Agent, Lenders, the Borrower, Parent and Guarantors.

  • Administrative permit amendment means an air quality operating permit revision that:

  • Third Amendment means that certain Third Amendment to Amended and Restated Credit Agreement dated as of the Third Amendment Effective Date, among the Borrower, the Guarantors party thereto, the Administrative Agent and the Lenders party thereto.

  • Extension Agreement means an Extension Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Company, the Administrative Agent and one or more Extending Lenders, effecting an Extension Permitted Amendment and such other amendments hereto and to the other Loan Documents as are contemplated by Section 15.1.1.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Compliance Certificate means a certificate substantially in the form of Exhibit D.

  • Pro Forma Compliance and “Pro Forma Effect” mean, with respect to compliance with any test, financial ratio or covenant hereunder required by the terms of this Agreement to be made on a Pro Forma Basis or after giving Pro Forma Effect thereto, that (a) to the extent applicable, the Pro Forma Adjustment shall have been made and (b) all Specified Transactions and the following transactions in connection therewith that have been made during the applicable period of measurement or subsequent to such period and prior to or simultaneously with the event for which the calculation is made shall be deemed to have occurred as of the first day of the applicable period of measurement in such test, financial ratio or covenant: (i) income statement items (whether positive or negative) attributable to the property or Person subject to such Specified Transaction, (A) in the case of a Disposition of all or substantially all Equity Interests in any subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries, shall be excluded and (B) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction,” shall be included, (ii) any retirement of Indebtedness, and (iii) any Indebtedness incurred or assumed by the Borrower or any of its Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination and interest on any Indebtedness under a revolving credit facility computed on a Pro Forma Basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period; provided that, without limiting the application of the Pro Forma Adjustment pursuant to clause (a) above, the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of “Consolidated EBITDA” and give effect to operating expense reductions that are (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the Borrower or any of its Subsidiaries and (z) factually supportable or (ii) otherwise consistent with the definition of “Pro Forma Adjustment.”