Major Covenant means, solely in relation to Borrower and its Material Subsidiaries only (and, for the avoidance of doubt, excluding any members of the Target Group), the covenants set forth in Sections 6.20 (other than clauses (i), (k), (m)(ii) and (n) thereof), 7.01, 7.03, 7.04, 7.05, 7.06 and 7.
Major Covenant means (with respect to each Certain Funds Obligor (and excluding any procurement obligations on the part of any Certain Funds Obligor with respect to (a) the Holdco, (b) any of its Subsidiaries which are not Certain Funds Obligors, (c) Target or (d) any of the subsidiaries of Target) any of Sections 6.13 (other than paragraphs (a) and (b) thereof) to 6.18 (each inclusive) and paragraphs (b), (c), (d), (f) and (h) of Section 6.25.
Major Covenant means a covenant with respect to Bidco, the Company and its Material Subsidiaries only (and, for the avoidance of doubt, not in respect of or relating to (or any procurement obligation relating to) (i) the Company’s other Subsidiaries and (ii) the Target and its Subsidiaries) under any of Section 7.05(a) (Preservation of Existence, Etc.), Section 7.11 (Use of Proceeds), Section 7.16 (Scheme and Offer) (other than Section 7.16(c), (d), (e)(ii) and (g)), Section 8.01 (Liens) to Section 8.05 (Dispositions) inclusive, Section 8.08 (Use of Proceeds) and Section 8.13 (Scheme and Offer) (other than Section 8.13(e)).
Examples of Major Covenant in a sentence
The following are Events of Default: (1) failure to declare and pay when due two consecutive annual installments of the Cumulative 8% Preferred Dividend; (2) the filing of a voluntary petition in bankruptcy by the Company or the approval of an involuntary petition in bankruptcy related to the Company; (3) the breach of a Major Covenant; and (4) the failure to remedy the breach of any Company Covenant within 60 days after actual notice of its breach.
More Definitions of Major Covenant
Major Covenant means any of Sections 24.4 (Collateral of Target) hereof or Sections 4.06 (Limitation on Indebtedness), 4.07 (Limitation on Restricted Payments), 4.08 (Limitation on Liens), 4.09 (Limitation of Sales of Assets and Subsidiary Stock), 4.10 (Limitation on Affiliate Transactions), 4.17 (Impairment of Security Interest) and 5.01 (Consolidation, Merger & Sale of Assets) of Schedule 6.
Major Covenant means a covenant with respect to Bidco only and not, for the avoidance of doubt, with respect to the Certain Funds Borrower or the Company or any other Subsidiary of the Certain Funds Borrower or the Company, the Target or its Subsidiaries (and excluding any procurement obligations on the part of Bidco with respect to the Certain Funds Borrower and the Company or any other Subsidiary of the Certain Funds Borrower or the Company, the Target or its Subsidiaries) under any of Section 6.05 (
Major Covenant means the covenants set forth in Sections 6.1 and 6.2 (except insofar as each such covenant may apply to or constitute a procurement covenant relating to the Acquired Business) and the covenant set forth in Section 6.5(a) insofar as each such covenant applies to Company, Bidco or any Material Subsidiary (except insofar as such covenant may apply to or constitute a procurement covenant relating to the Acquired Business).
Major Covenant means, solely as they relate to, including for the avoidance of doubt by virtue of a procurement obligation under the covenants referred to in this definition, the Borrower, UK Holdco and the Borrower’s Material Subsidiaries (and, for the avoidance of doubt, excluding any members of the Company Group), the covenants set forth in Sections 5.03(a), (b) to the extent arising from a voluntary act by the Borrower, UK Holdco, or a Material Subsidiary of the Borrower, excluding Liens securing obligations in an aggregate amount of less than $10,000,000, (c) (in relation to Persons that are not publicly listed and as if the reference therein to no “Default” were a reference to no “Major Default”), (d) (excluding any compulsory acquisitions or takings by any Governmental Authority), (g) (to the extent such breach was a voluntary breach and could reasonably be expected to have a material adverse affect on the ability of the Borrower to perform its payment obligations under this Agreement), (h) (other than Restricted Payments of the type referred to in clause (b) of the definition thereof to the extent the aggregate principal amount thereof does not exceed $10,000,000) or (i) and Section 5.01(h) (other than clauses (viii), (ix), (x), (xiii)(y), and (xiv) thereof).
Major Covenant means (with respect to the Obligors and their Subsidiaries only (and excluding the Acquired Business and any procurement obligations on the part of any Obligor other than with respect to its Subsidiaries only)) any covenant under any of Sections 6.03(a) (with respect to XL Group or the Borrower only), 6.09, 6.12(b), 6.13 (other than (a)(iii) (except to the extent the Lead Arrangers have specifically requested any such relevant information pursuant to that clause), (a)(iv) and (a)(v) (to the extent required to promptly deliver the applicable Press Release), 6.14, 7.01 (except to the extent applicable to a merger or consolidation of XL Group resulting from an acquisition (whether pursuant to a tender offer, scheme of arrangement or otherwise) of Equity Interests in XL Group sufficient to enable the acquirer to require XL Group to enter into such merger or consolidation, where such acquisition was not recommended by the board of directors of XL Group), 7.03 and 7.07.
Major Covenant means a covenant with respect to Bidco only and not, for the avoidance of doubt, with respect to the Company, any other Borrower or any other Subsidiary of the Company, the Target or its Subsidiaries (and excluding any procurement obligations on the part of Bidco with respect to the Company, any other Borrower or any other Subsidiary of the Company, the Target or its Subsidiaries) under any of Section 6.05 (Preservation of Existence, Etc.), Section 6.13 (Anti-Corruption Laws; Sanctions; AML Laws), Section 7.01 (Liens), Section 7.05 (Fundamental Changes), Section 7.03 (Sanctions) and Section 7.04 (Anti-Corruption Laws; AML Laws).
Major Covenant means (with respect to each Certain Funds Obligor (and excluding any procurement obligations on the part of any Certain Funds Obligor with respect to (a) the Holdco,