Financial Covenant Cure Amount has the meaning set forth in Section 7.3(b).
Financial Covenant Cure Amount has the meaning given to such term in Section 9.13(f)(i).
Financial Covenant Cure Amount shall be the sum of (x) lowest amount which if added to the amount of Consolidated EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with the applicable financial covenant which is the subject of such Financial Covenant Default(s) as of such Testing Date plus (y) $1,000,000 (provided, however, that if more than one such Financial Covenant Default exists as of a testing date, the Financial Covenant Cure Amount for purposes hereof shall equal the sum of (x) the lowest amount which if added to the amount of Consolidated EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with all financial covenants which are the subject of such Financial Covenant Defaults as of such Testing Date plus (y) $1,000,000).
Examples of Financial Covenant Cure Amount in a sentence
To the extent any of the Net Proceeds of any Equity Cure Securities shall be used by any Borrower to prepay Term Loans, the portion of the Term Loans that is so prepaid will not be taken into account for purposes of determining actual compliance with the financial covenant in Section 5.22 for the Fiscal Quarter with respect to which the Financial Covenant Cure Amount is made.
Such Financial Covenant Cure Amount received by Borrower Representative shall be included in the calculation of Consolidated EBITDA solely for the purposes of determining compliance with the financial covenant in Section 5.22 at the end of the Fiscal Quarter in which such Financial Covenant Default occurred and any subsequent period that includes such Fiscal Quarter but shall be disregarded for purposes of the calculation of Consolidated EBITDA for all other purposes.
Upon timely receipt by Borrower Representative in cash of the Financial Covenant Cure Amount, the Financial Covenant Default (and any Default or Event of Default resulting solely therefrom) shall be deemed cured and shall no longer be deemed to exist.
Net Proceeds of any Equity Cure Securities shall not be taken into account for cash netting purposes for the Fiscal Quarter with respect to which the Financial Covenant Cure Amount is made.
The Cure Notice shall set forth the calculation of the Financial Covenant Cure Amount (as hereinafter defined).
More Definitions of Financial Covenant Cure Amount
Financial Covenant Cure Amount shall be the amount which, if added to the amount of EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with Section 6.5(b) above as of such Testing Date.
Financial Covenant Cure Amount shall be the sum of (A) the amount which, if added to the amount of EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with the Fixed Charge Coverage Ratio as of such Testing Date plus (B) if a “Financial Covenant Default” or “Capex Covenant Default” has also occurred under the Term Loan Agreement as of such Testing Date, then the sum (as applicable) of (1) the “Financial Covenant Cure Amount” required under the Term Loan Agreement with respect to such “Financial Covenant Default” and (2) the “Capex Covenant Cure Amount” required under the Term Loan Agreement (it being understood and agreed that the Financial Covenant Cure Amount shall equal the largest amount necessary to cure all applicable financial covenant defaults under this Agreement and the Term Loan Agreement).
Financial Covenant Cure Amount shall be the amount which if added to the amount of EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with the applicable financial covenant which is the subject of such Financial Covenant Default(s) as of such Testing Date (provided, however, that if more than one such Financial Covenant Default exists as of a Testing Date, or if an event of default pursuant to Section 6.5 of the PNC Credit Agreement then exists, the Financial Covenant Cure Amount for purposes hereof shall equal the largest amount necessary to cure all such applicable financial covenant defaults). The “Capex Covenant Cure Amount” shall be the amount which if deducted from the amount of Capital Expenditures as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with Section 7.6.
Financial Covenant Cure Amount shall be the lowest amount which if added to the amount of Consolidated EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with the applicable financial covenant which is the subject of such Financial Covenant Default(s) as of such Testing Date (provided, however, that if more than one such Financial Covenant Default exists as of a testing date, the Financial Covenant Cure Amount for purposes hereof shall equal the lowest amount which if added to the amount of Consolidated EBITDA as of the applicable Testing Date, would result in the Loan Parties being in pro forma compliance with all financial covenants which are the subject of such Financial Covenant Defaults as of such Testing Date).
Financial Covenant Cure Amount shall be the amount which, if added to the amount of Liquidity as of the applicable Testing Date, would result in Borrowers being in pro forma compliance with the applicable Financial Covenant as of such Testing Date. (c) Notwithstanding anything to the contrary contained in the foregoing or this Agreement, (i) Borrowers’ rights under this Section 7.4 (A) may be exercised not more than 3 times during the term of this Agreement, (B) may not be exercised if the amount of the proposed Specified Equity Contribution exceeds $5,000,000, and (C) may not be exercised if the amount of the proposed Specified Equity Contribution, together with the amount of all Specified Equity Contributions, exceeds $15,000,000, and (ii) the Specified Equity Contribution contributed shall equal or exceed the Financial Covenant Cure Amount. 8.
Financial Covenant Cure Amount is defined in Section 13.3.
Financial Covenant Cure Amount shall be the amount which, if added to the amount of Liquidity as of the date of the applicable Financial Covenant Default, would result in Borrowers being in pro forma compliance with the applicable Financial Covenant as of such date. (c) Notwithstanding anything to the contrary contained in the foregoing or this Agreement, (i) Borrowers’ rights under this Section 7.4 (A) may be exercised not more than 3 times during the term of this Agreement, (B) may not be exercised if the amount of the proposed Specified Equity Contribution exceeds $5,000,000, and (C) may not be exercised if the amount of the proposed Specified Equity Contribution, together with the amount of all Specified Equity Contributions, exceeds $15,000,000, and (ii) the Specified Equity Contribution contributed shall equal or exceed the Financial Covenant Cure Amount.” (b) Schedule B to the Loan Agreement is hereby amended by amending and restating clause (d) of the definition of “Eligible Account” as follows: “(d) (i) all Eligible Accounts owing by T-Mobile or Verizon, and their respective Subsidiaries and Affiliates do not, in each case, represent more than 60% of all otherwise Eligible Accounts (provided, that Accounts which are deemed to be ineligible solely by reason of this clause (i) shall be considered Eligible Accounts to the extent of the amount thereof which does not exceed 60% of all otherwise Eligible Accounts) , ( ii) all Eligible Accounts owing by U.S. Cellular and its Subsidiaries and Affiliates do not, in each case, represent more than 50% of all otherwise Eligible Accounts (provided, that Accounts which are deemed to be ineligible solely by reason of this clause (ii) shall be considered Eligible Accounts to the extent of the amount thereof which does not exceed 50% of all otherwise Eligible Accounts), and (iii) all Eligible Accounts (other than those described in the immediately foregoing clauses (i) and (ii)) owing by any single account debtor and its Subsidiaries and Affiliates do not represent more than 15% of all otherwise Eligible Accounts (provided, that Accounts which are deemed to be ineligible solely by reason of this clause (iii) shall be considered Eligible Accounts to the extent of the amount thereof which does not exceed 15% of all otherwise Eligible Accounts);”