Financial Covenant Breach means a breach that shall occur if the “Leverage Ratio” calculated as of the last day of each fiscal quarter of Moog exceeds (i) 4.0:1.0 for such fiscal quarter or (ii) solely to the extent that a “Leverage Ratio Increase” has become effective in accordance with the Moog Credit Agreement for such fiscal quarter, 4.5:1.0 for such fiscal quarter. For purposes of this definition of “Financial Covenant Breach”:
Financial Covenant Breach means a breach or imminent breach of a covenant set forth in Section 6.1.
Financial Covenant Breach means Mezzanine Borrower's failure to pass either or both of the Financial Covenant Tests on a Quarterly Test Date.
Examples of Financial Covenant Breach in a sentence
Financial Covenant Breach Period means each period: (a) beginning on any Calculation Date on which the Total Debt Coverage Ratio exceeds the Maximum Debt Coverage Ratio; and (b) ending on the next date on which the Total Debt Coverage Ratio no longer exceeds the Maximum Debt Coverage Ratio (including by reason of remedy or waiver).
Financial Covenant Breach The Senior Debt Service Cover Ratio shall not be less than l.1x on each Testing Date.
More Definitions of Financial Covenant Breach
Financial Covenant Breach. The breach of any of the financial performance covenants provided for in Section 6.11.
Financial Covenant Breach means a breach that shall occur with respect to the financial covenant set forth Section 7.11 of the Credit Agreement. For purposes of this definition of “Financial Covenant Breach”: (a) unless otherwise defined in this Agreement, the terms used in this definition (including all defined terms used within such terms) shall have the respective meaning assigned to such terms in the Credit Agreement; and (b) any reference to the “Credit Agreement” is to such agreement as in effect on the Closing Date and without giving effect to any amendment, restatement, waiver, supplement or termination thereof (unless otherwise agreed to in writing by the Administrative Agent in its sole discretion). “Fiscal Quarter” means a fiscal quarter of Columbus. “Foreign Benefit Event” means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under any applicable Law or in excess of the amount that would be permitted absent a waiver from any applicable Governmental Authority or (b) the failure to make the required contributions or payments, under any applicable Law, on or before the due date for such contributions or payment. “Foreign Government Scheme or Arrangement” has the meaning set forth in Section 3.2(r)(v). “Foreign Pension Plan” means any benefit plan that under applicable Law is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority. “Foreign Plan” has the meaning set forth in Section 3.2(r)(v). “Foreign Plan Event” means, with respect to any Foreign Plan or Foreign Government Scheme or Arrangement, (a) the failure to make, or if applicable, accrue in accordance with normal accounting practices, any employer or employee contributions required by applicable law or by the terms of such Foreign Plan or Foreign Government Scheme or Arrangement; (b) the failure to register I-18 Credit and Security Agreement 756752741 23728593
Financial Covenant Breach. (a) unless otherwise defined in this Agreement, the terms used in this definition (including all defined terms used within such terms) shall have the respective meaning assigned to such terms in the Credit Agreement; and (b) any reference to the “Credit Agreement” is to such agreement as in effect on the Closing Date and without giving effect to any amendment, restatement, waiver, supplement or termination thereof (unless otherwise agreed to in writing by the Administrative Agent in its sole discretion). “Fiscal Quarter” means a fiscal quarter of Columbus. “Foreign Benefit Event” means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under any applicable Law or in excess of the amount that would be permitted absent a waiver from any applicable Governmental Authority or (b) the failure to make the required contributions or payments, under any applicable Law, on or before the due date for such contributions or payment. “Foreign Government Scheme or Arrangement” has the meaning set forth in Section 3.2(r)(v). “Foreign Pension Plan” means any benefit plan that under applicable Law is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority. “Foreign Plan” has the meaning set forth in Section 3.2(r)(v). “Foreign Plan Event” means, with respect to any Foreign Plan or Foreign Government Scheme or Arrangement, (a) the failure to make, or if applicable, accrue in accordance with normal accounting practices, any employer or employee contributions required by applicable law or by the terms of such Foreign Plan or Foreign Government Scheme or Arrangement; (b) the failure to register I-18 Credit and Security Agreement 756752741 23728593
Financial Covenant Breach is defined in Section 8.1(R) hereof.
Financial Covenant Breach. The breach of either of the financial performance covenants provided for in Sections 6:6-11 and 6:6-12.
Financial Covenant Breach. Majority Lenders" "Majority Lenders" "Permitted Protective OverAdvance" "Standstill Period" "SuperMajority Lenders" "SuperMajority Lenders" "Unanimous Consent"
Financial Covenant Breach shall have the meaning ascribed thereto in Section 5.5(b);