Loan covenant definition

Loan covenant means a condition in an agreement relating to a loan or bond issue that requires the borrower to fulfil certain conditions or which forbids the borrower from undertaking certain actions, or which possibly restricts certain activities to circumstances when other conditions are met. Violation of a covenant may result in a default on the loan being declared, penalties being applied, or the loan being recalled;
Sample 1Sample 2Sample 3
Loan covenant means a condition in an agreement relating to a loan or bond issue that requires the borrower to fulfill certain conditions or which forbids the borrower from undertaking certain actions, or which possibly restricts certain activities to
Sample 1
Loan covenant means a condition in an agreement relating to a loan or bond issue that requires the borrower to fulfill certain conditions or which forbids the borrower from undertaking certain actions, or which possibly restricts certain activities to circumstances when other conditions are met. Violation of a covenant may result in a default on the loan being declared, penalties being applied, or loan being recalled; “long term debt” means debt repayable by the Town over a period exceeding one(1) year;
Sample 1

Examples of Loan covenant in a sentence

  • The report is also prepared to review compliance with environmental safeguards of the Government of Uzbekistan and ADB Safeguards Policy Statement (SPS), (2009) as well as to fulfill the Loan covenant as described in Loan Agreement 2633-UZB between ADB and Uzbekistan.

  • Loan covenant compliance is closely monitored by the treasury department.

  • Loan covenant data are not available in Y-14Q.3.2.2. Relationship Variables We use a number of definitions of Relationship.

  • Loan covenant As of 30 June 2021, the Stapled Group has complied with the debt covenants with exception of two debt covenant ratios where the Stapled Group has received waiver to defer.

  • The latest tariff increase, benefitting from the new decentralization law, went beyond the Loan covenant requirements, and was carried out through a transparent and participatory mechanism.

  • The report is also prepared to review compliance with environmental safeguards of the Government of Uzbekistan and ADB Safeguards Policy Statement (SPS), (2009) as well as to fulfill the Loan covenant as described in Loan Agreement 2825-UZB between ADB and Uzbekistan.

  • The report is also prepared to comply with environmental safeguards of the Government of Uzbekistan and ADB Safeguards Policy Statement (SPS), (2009) as well as to fulfill the Loan covenant as described in Loan Agreement UZB 3064 between ADB and Uzbekistan.

  • The 2022 Canavision IPA - “We The People” Photo Contest will announce TEN winners of each category.

  • It is anticipat-ed to be a long struggle but if we can end it sooner by reasona- ble and acceptable means, we will.

  • In addition, although the contractor’s camp, it still needs to more improved greatly to meet EMP and Loan covenant requirements, which include storage of hazardous materials, refueling ,maintenance equipment, solid waste and sewage management and appropriate drainage surrounding the camp, health and safety training to all workers staff before daily works start.

Related to Loan covenant

  • 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).

  • Subordinated Loan Agreement means any loan agreement made or to be made between (i) any Borrower and (ii) a Subordinated Creditor.

  • 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.

  • Loan Agreement shall have the meaning assigned to such term in the recitals.

  • Financial Covenant has the meaning specified in Section 7.08.

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

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • 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.

  • Term Loan Agreement has the meaning assigned to such term in the recitals of this Agreement.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Prior Loan Agreement is defined in Recital A.

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

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

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

  • Junior Loan has the meaning provided in the Recitals hereto.

  • 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).

  • Underlying Loan Agreement means, with respect to any Loan, the document or documents evidencing the commercial loan agreement or facility pursuant to which such Loan is made.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Existing Loan Agreement has the meaning set forth in the recitals to this Agreement.

  • Financing Agreement means any lease purchase agreement, installment sale agreement, loan agreement, line of credit or other agreement of the department or, with the approval of the director, and any agency, to finance the improvement, use or acquisition of real or personal property that is or will be owned or operated by one or more agencies of the State, the department or any agency, or to refinance previously executed financing agreements including certificates of participation relating thereto. The School shall not act as a guarantor of any such financing agreement.

  • Revolving Loan Agreement means that certain Amended and Restated Revolving Loan and Security Agreement dated of even date herewith by and among the Affiliated Revolving Borrowers, the Lenders and the Administrative Agent, as the same may be restated, modified, supplemented or amended from time to time.

  • Covenant-Lite Loan means a Bank Loan that does not require the borrower thereunder to comply with any financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) (regardless of whether compliance with one or more incurrence covenants is otherwise required by such Bank Loan).