Financial Covenant Relief Period definition

Financial Covenant Relief Period means the period commencing with the fiscal quarter ended June 30, 2018, and concluding with the fiscal quarter ending December 31, 2019.”
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Financial Covenant Relief Period means the period commencing on the Section 2.1 Effective Date and ending on the earlier of (x) the first day of the fiscal quarter beginning April 1, 2022 and (y) the day upon which the Borrower shall have notified the Administrative Agent in writing that it has elected to end the Financial Covenant Relief Period; provided, that if the Borrower elects to end the Financial Covenant Relief Period pursuant to clause (y) above, the Financial Covenant Relief Period cannot be reinstated.
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Financial Covenant Relief Period means the period commencing on (and including) the Fifth Amendment Effective Date and ending on (and including) the earlier of (a) June 30, 2021, or (b) the date elected by Borrower in a written notice delivered to Bank pursuant hereto.
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Examples of Financial Covenant Relief Period in a sentence

  • At all times during the Financial Covenant Relief Period, Borrower shall not permit Liquidity at any time to be less than $325,000,000.


More Definitions of Financial Covenant Relief Period

Financial Covenant Relief Period solely with respect to the Revolving Facility, the period from and after the Fifth Amendment Effective Date to and including the earlier of (a) December 31, 2024 and (b) the last day of the applicable Financial Covenant Relief Test Period designated in a Financial Covenant Election delivered by the Parent Borrower, so long as the Parent Borrower has delivered such Financial Covenant Election and a Compliance Certificate to the Administrative Agent demonstrating compliance with Section 7.1(a)(ii) and Section 7.1(b)(ii) as of the last day of such applicable Financial Covenant Relief Test Period.
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Financial Covenant Relief Period solely with respect to the Revolving Facility, the period from and after the Fifth Amendment Effective Date to and including the earlier of (a) December 31, 2024 and (b) the last day of the applicable Financial Covenant Relief Test Period designated in a Financial Covenant Election delivered by the Parent Borrower, so long as the Parent Borrower has delivered such Financial Covenant Election and a Compliance Certificate to the Administrative Agent demonstrating compliance with Section 7.1(a)(ii) and Section 7.1(b)(ii) as of the last day of such applicable Financial Covenant Relief Test Period. “Financial Covenant Relief Test Period”: solely with respect to the Revolving Facility, in respect of any Financial Covenant Election, at the election of the Parent Borrower, (i) the period of four consecutive fiscal quarters of the Parent Borrower during which the Parent Borrower has delivered such Financial Covenant Election or (ii) if such Financial Covenant Election is delivered after any fiscal quarter end and on or prior to the date on which financials are required to be delivered for such fiscal quarter pursuant to Section 6.1(a) or Section 6.1(b), as applicable, the period of four consecutive fiscal quarters of the Parent Borrower most recently ended. “Fixed Amounts”: as defined in Section 1.2(f). “Flood Insurance Laws”: collectively, (i) the National Flood Insurance Reform Act of 1994 (which comprehensively revised the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973) as now or hereafter in effect or any successor statute thereto, (ii) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iii) the Xxxxxxx-Xxxxxx Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto. “Floor”: the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) 29
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Financial Covenant Relief Period for all purposes of this Agreement and the other Loan Documents.
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Financial Covenant Relief Period means any period commencing on any date that the ratio of (a) Secured Indebtedness outstanding as of such date to (b) Consolidated EBITDA of the Borrower and its Subsidiaries as of the last day of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 6.01(a) or (b) was greater than 3.75 to 1.00 and continuing until the earlier of (i) the Revolving Credit Maturity Date and (ii) the first date thereafter that such ratio as of such subsequent date was less than or equal to 3.75 to 1.00.
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Financial Covenant Relief Period set forth in Section 1.01 of the Existing Credit Agreement is hereby amended by replacing the term “April 1, 2021” contained in clause (x) thereof with the term “April 1, 2022”.
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Related to Financial Covenant Relief Period

  • Financial Covenant has the meaning specified in Section 7.08.

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

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

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

  • 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).

  • 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.

  • 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.

  • 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 7.11 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 6.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

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

  • Test Period means, at any date of determination, the most recently completed four consecutive fiscal quarters of the Borrower ending on or prior to such date for which financial statements have been or are required to be delivered pursuant to Section 6.01(a) or (b).