Financial Covenant Compliance Date definition

Financial Covenant Compliance Date. The date of consummation of any Kindred Change of Control Transaction, the date of consummation of any Measurement Transaction, and each Quarterly Covenant Compliance Date.
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Financial Covenant Compliance Date means, at any time after the Eighth Amendment Effective Date, the last day of the most recent period of two consecutive fiscal quarters of the Borrower ended on or prior to such time in respect of which financial statements for each quarter or fiscal year in such period have been or are required to be delivered pursuant to Section 6.01(a) or 4 1994182-NYCSR07A - MSW
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Financial Covenant Compliance Date. “Fixed Charge Coverage Ratio” and “Total Leverage Ratio”, such terms shall have the meanings assigned to them in Existing ML5 until the ARML No. 3 Payment Date and, from and after the ARML No. 3 Payment Date, shall have the meanings assigned to them in this Article.
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Examples of Financial Covenant Compliance Date in a sentence

  • At any time after the Financial Covenant Compliance Date, the Brookfield Liquidity Facility may be amended, modified, terminated or repaid in part or in full.

  • Prior to the Fifth Amendment Financial Covenant Compliance Date, permit the aggregate Outstanding Amount of all Revolving Credit Loans plus the aggregate Outstanding Amount of all Swing Line Loans plus the aggregate Outstanding Amount of all L/C Obligations at any time to exceed the Collateral Coverage Sublimit.

  • Upon the occurrence of the Financial Covenant Compliance Date, the amendments in this Section 3 shall no longer be in effect and, except with respect to the amendments to the Credit Agreement in Sections 1 and 2 above, the terms of the Credit Agreement shall revert to those as in effect immediately prior to the Eighth Amendment Effective Date.

  • Subject to the satisfaction of the conditions set forth in Section 4 hereof, the following amendments to the Credit Agreement shall be in effect on and from the Eighth Amendment Effective Date and remain in effect until the occurrence of the Financial Covenant Compliance Date (as defined below).

  • For any Revolving Credit Borrowing requested prior to the Fifth Amendment Financial Covenant Compliance Date, attached hereto as Annex I are calculations demonstrating that, after giving effect to such Revolving Credit Borrowing, the aggregate Outstanding Amount of all Revolving Credit Loans plus the aggregate Outstanding Amount of all Swing Line Loans plus the aggregate Outstanding Amount of all L/C Obligations will not exceed the Collateral Coverage Sublimit.

  • For the avoidance of doubt, during the Covenant Relief Period and prior to the Financial Covenant Compliance Date, the CNI Restricted Payments Basket will increase by amounts not permitted to be used during such period.


More Definitions of Financial Covenant Compliance Date

Financial Covenant Compliance Date. The date of consummation of any Kindred Change of Control Transaction and each Quarterly Covenant Compliance Date.”
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Financial Covenant Compliance Date. Minimum Consolidated Net Worth", "Note," "Non-PIK Note," "PIK Portion," "Quarterly Payment Date" and "Subsequent Loan PIK Note" appearing in said Section and (y) inserting the following new definitions in alphabetical order:
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Financial Covenant Compliance Date means the first date that BPR shall deliver a Compliance Certificate pursuant to Section 5.01(c) evidencing compliance with the financial covenants under Section 6.11 as in effect immediately prior to the First Amendment Effective Date for two consecutive Fiscal Quarters following the Covenant Relief Period Termination Date (other than any such compliance occurring as a result of the exercise of any Indebtedness Cure Right or EBITDA Cure Right).
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Financial Covenant Compliance Date and "Permitted Refinancing" appearing in said Section and (ii) inserting the following new definitions in appropriate alphabetical order in said Section:
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Financial Covenant Compliance Date means the earlier to occur of (x) that date on which the Borrower delivers to each of the Lenders an officer's certificate from the chief financial officer of the Borrower, which certificate shall demonstrate to the satisfaction of the Lenders the Borrower's compliance with Sections 6.07, 6.08 and 6.09 as if Sections 7 and 8 of the First Amendment, Sections 4, 5, 6 and 7 of the Second Amendment and Sections 5, 6, 7, 8 and 9 of the Third Amendment were not effective on such date, attach financial calculations (in reasonable detail) establishing such compliance and otherwise be in a form satisfactory to the Lenders and (y) that date on which the Borrower delivers to each of the Lenders an officer's certificate from the chief financial officer of the Borrower, which certificate shall (I) demonstrate to the satisfaction of the Lenders that the Borrower has achieved Consolidated EBITDA for the period of four consecutive fiscal quarters (taken as one accounting period) then last ended which, when Divested EBITDA for the Calculation Period then last ended is subtracted therefrom, equals at least $7,500,000 and (II) attach (a) financial calculations (in reasonable detail) establishing the amount of Consolidated EBITDA for the period of four consecutive fiscal quarters (taken as one accounting period) then last ended and (b) in the event a Significant Asset Sale was consummated during the respective Calculation Period or thereafter and on or prior to the respective Calculation Date, the financial calculations of a Qualified Accounting Firm setting forth the amount of the Divested EBITDA for the Calculation Period then last ended and otherwise be in a form satisfactory to the Lenders.
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Financial Covenant Compliance Date appearing in Section 8.01 of the Loan Agreement is hereby amended by deleting the text "Sections 5, 6, 7, 8 and 9 of the Third Amendment were not effective" appearing in said definition and inserting the text "Sections 7, 8, 9, 10, 11 [and 12] of the Third Amendment were not effective" in lieu thereof.
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Related to Financial Covenant Compliance Date

  • Financial Covenant has the meaning specified in Section 7.08.

  • Covenant Compliance Event means, at any time, Availability is less than the greater of (i) ten percent (10%) of the Loan Cap and (ii) $15,000,000. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

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

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

  • Compliance Date means, in each case, the date by which compliance is required under the referenced provision of ARRA’s or HIPAA’s implementing regulations, as applicable.

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

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

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

  • 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.

  • 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.

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

  • 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.

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • 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.”

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

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

  • 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).

  • 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.

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

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

  • 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.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • 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 6.11.

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