Financial Covenant Waiver Period definition

Financial Covenant Waiver Period means the period between 1 April 2020 and 31 December 2021 (inclusive).
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Financial Covenant Waiver Period means a period which shall commence on the date (a)(i)Company shall have delivered to Administrative Agent a certificate of the chief financial officer of Company certifying that the Loan Parties have achieved Product Revenue from the sale of the Products of at least [***] as of the last day of the most recently ended Measurement Period (the “Commencement Date”) and (ii) Company shall have delivered all evidence or related information reasonably required by Administrative Agent with respect thereto, and (b) ending on the last day of the Fiscal Quarter of such Commencement Date.
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Financial Covenant Waiver Period means a period which shall (a) commence with the fiscal quarter immediately following any fiscal quarter for which Borrower shall have delivered to Agent, in the Compliance Certificate required to be delivered pursuant to Section 7.1(d), a certification that the Loan Parties have achieved positive Consolidated EBITDA for such fiscal quarter, together with all evidence or related information reasonably required by Agent with respect thereto, and (b) end on the next date on which Borrower delivers (or is required to deliver) a Compliance Certificate pursuant to Section 7.1(d) and, at such time, fails to deliver a certification that the Loan Parties have achieved positive Consolidated EBITDA for the fiscal quarter covered by such Compliance Certificate.
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Examples of Financial Covenant Waiver Period in a sentence

  • Notwithstanding the foregoing, to the extent the Financial Covenant Waiver Period is in effect, the foregoing financial covenant shall not be applicable with respect to such period.

  • If, other than as notified in writing by the Borrower to the Facility Agent prior to the date of Amendment Number Three, at any time during the Financial Covenant Waiver Period the last day of a financial covenant waiver period under any of the agreements in respect of any of the Borrower's other Indebtedness shall be amended such that it falls prior to December 31, 2022, the Borrower shall notify the Facility Agent.

  • During the Financial Covenant Waiver Period, the Borrower will from time to time at the request of the Facility Agent promptly enter into good faith negotiations in respect of (a) amending this Agreement to remove the carve-out of Section 7.2.4 from the provisions of Section 9.1.5 and/or (b) amending the financial covenants set forth in this Agreement, resetting the testing of such financial covenants and/or supplementing those financial covenants with additional financial covenants.


More Definitions of Financial Covenant Waiver Period

Financial Covenant Waiver Period means the period commencing with the fiscal quarter ended June 30, 2018, and concluding with the fiscal quarter ending September 30, 2018.”
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Related to Financial Covenant Waiver Period

  • Financial Covenant has the meaning specified in Section 7.08.

  • 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).

  • 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).

  • 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:

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

  • 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.

  • Waiver Period means, for each applicable fee, the period of time from the initial effective date of the MIAX PEARL Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior to the termination of the Waiver Period and effective date of any such applicable fee.

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

  • 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.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Financial Performance Covenant means the covenant set forth in Section 6.11.

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

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

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • 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.

  • 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 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.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Forbearance Period means the period beginning on the Forbearance Effective Date and ending on the Forbearance Termination Date.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.