Maintenance Covenant definition

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.

Maintenance Covenant means, as of any date of determination, a covenant by the Obligor of a Loan Asset to comply with one or more financial covenants during each reporting period applicable to such Loan Asset, whether or not any action by, or event relating to, the Obligor occurs after such date of determination; provided that a covenant that otherwise satisfies the definition hereof and only applies when amounts are outstanding under the related Loan Asset shall be a Maintenance Covenant.

Maintenance Covenant means a covenant by the borrower to comply with one or more financial covenants during each reporting period, whether or not it has taken any specified action.

Examples of Maintenance Covenant in a sentence

• The Issuer has failed to comply with the Maintenance Covenant unless a Cure Amount has been paid to the Cure Account within twenty Business Days of a delivery of the relevant Compliance Certificate evidencing the breach, in accordance with Clause 13.5 (Equity cure).

• The first Reference Date for testing the Maintenance Covenant shall be the date falling on the Reference Date falling on 31 December 2018.

• Owner: COMMONWEALTH OF VIRGINIA ) CITY/COUNTY OF ) To-Wit: I, the undersigned, a Notary Public in and for the County and State aforesaid, do hereby certify that , as Owner of , Xxxxxxxxxxxxxx, Xxxxxxxx 00000, whose name is signed to the foregoing instrument, personally appeared before me and acknowledged the foregoing Maintenance Covenant Agreement to be his respective act.

• The PARTICIPANT agrees to sign a Rain Garden Maintenance Covenant (Attachment 1).

• Developer must execute and record in the public records of Miami-Dade County, a Maintenance Covenant, in a form approved by the City Commission and City Attorney, which complies with the requirements of Land Development Code Section 20-8.9 before a building permit is issued to the Developer pursuant to Section 20-8.9(I).

More Definitions of Maintenance Covenant

Maintenance Covenant means the maintenance covenant set out in Clause 12.1 (Maintenance Covenant).

Maintenance 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) during each reporting period, whether or not such borrower has taken any specified action.

Maintenance Covenant means a covenant by any borrower to comply with one or more financial covenants during each reporting period (but not more frequently than quarterly), whether or not such borrower has taken any specified action; provided that a covenant that otherwise satisfies the definition hereof and only applies when amounts are outstanding under the related loan shall be a Maintenance Covenant.

Maintenance Covenant means a covenant by any Obligor to comply with one or more financial covenants during each reporting period, whether or not such Obligor has taken any specified action.

Maintenance Covenant has the meaning given to that term in Clause 24.5 (Financial Testing).

Maintenance Covenant. As of any date of determination, a covenant by the underlying Obligor of a loan to comply with one or more financial covenants during each reporting period applicable to such loan, whether or not any action by, or event relating to, the underlying Obligor occurs after such date of determination.

Maintenance Covenant means a covenant by the borrower on a loan to comply with one or more financial covenants during each applicable reporting period, whether or not such borrower has taken any specified action; provided that a covenant that otherwise satisfies the definition hereof and only applies when amounts are outstanding under the related loan shall be a Maintenance Covenant.