Financial Covenant Calculations definition

Financial Covenant Calculations by the twentieth day in each month a spread sheet showing calculations for the financial covenants set out in Clause 16.1 with respect to the preceding month."
Sample 1

Examples of Financial Covenant Calculations in a sentence

  • Name: Title: ANNEX A Financial Covenant Calculations ANNEX B Defaults/Events of Default/Etc.

  • SCHEDULE 3A Financial Covenant Calculations SCHEDULE 4 Contingent Obligations SCHEDULE 5 Non-Arm’s Length Transactions SCHEDULE 6 New Subsidiary Designated as “Excluded Subsidiary” [Insert Name, if any] Agent hereby [accepts/objects to] Borrower’s election to designate [Insert name of Subsidiary] as an Excluded Subsidiary.

  • DEFINITIONS 2 1.1 Certain Defined Terms 2 1.2 Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement; Pro Forma Basis for Financial Covenant Calculations 31 1.3 Other Definitional Provisions and Rules of Construction 32 Section 2.

  • Utilization of GAAP for Purposes of Calculations Under Agreement; Pro Forma Basis for Financial Covenant Calculations................................................

  • Schedule 6.10 (Financial Covenant Calculations) is attached to this Agreement in order to illustrate the intended methodology for the calculation of the covenants in this Section 6.10 and, for purposes of the illustration, is based on the Guarantor’s unaudited condensed consolidated financial statements for the three and six months ended June 30, 2019.

  • Financial Covenant Calculations (see attached) Schedule 3 to Compliance Certificate For the Fiscal [Quarter] [Year] ending __________ ___, 20___.

  • Schedule 6.10 (Financial Covenant Calculations) is attached to this Agreement in order to illustrate the intended methodology for the calculation of the covenants in this Section 6.10 and, for purposes of the illustration, is based on the GTI’s unaudited condensed consolidated financial statements for the four Fiscal Quarter period ended December 31, 2020.

  • ANNEX 3 To Compliance Certificate [Attach Detailed Financial Covenant Calculations] Exhibit B ANNEX 4 To Compliance Certificate [Describe Acquisitions, Investments, Restricted Payments] Exhibit B EXHIBIT C TO CREDIT AGREEMENT FORM OF CLOSING CERTIFICATE OFFICER’S CERTIFICATE See attached.

Related to Financial Covenant Calculations

  • Financial Covenant means the covenant set forth in Section 7.09.

  • 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.

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

  • 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.

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

  • 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).

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Section 10.11.

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • 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.

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

  • 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.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Financial Quarter means the period commencing on the day after one Quarter Date and ending on the next Quarter Date.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Quarterly Compliance Certificate has the meaning specified in Section 4.1(d) of the Base Indenture.

  • Material Project EBITDA Adjustments means, with respect to each Material Project:

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

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

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Incurrence Covenant means 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) only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Adjusted Consolidated EBITDA means, with respect to the Borrower and the Subsidiaries on a consolidated basis for any period, the Consolidated Net Income of the Borrower and the Subsidiaries for such period plus