Material Government Contract definition

Material Government Contract means any Government Contract that is a Material Contract.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Material Government Contract means a Government Contract with a Governmental Authority with reported revenues representing at least 10.0% of the total Consolidated revenues of the Borrower and its Subsidiaries for the most recently completed fiscal year.

Material Government Contract means, with respect to each Grantor, a contract between such Grantor and either (i) the Federal Government or (ii) a state or local government of the United States or any agency or instrumentality thereof, that provides for payments to such Grantor in an aggregate amount exceeding $2,000,000.

Examples of Material Government Contract in a sentence

No Credit Party or any of its Subsidiaries is materially in default as to the terms of any Material Government Contract or has received any notices of default or notices to cure under any Material Government Contract for which the performance deficiency noted by any Governmental Authority has not been cured or otherwise resolved to such Governmental Authority’s satisfaction.
In the event that any Loan Party shall at any time after the Closing Date become a party to any Material Government Contract, such Loan Party shall promptly (and in any event within five (5) Business Days) deliver to the Administrative Agent (A) a copy of such Material Government Contract and (B) a duly executed and completed Instrument of Assignment and Notice of Assignment with respect to such Material Government Contract.
Concurrently therewith, such Grantor will execute and deliver to the Collateral Trustee assignments and notices of assignment, substantially in the forms of Exhibits D-2 and D-3, with respect to each Material Government Contract with the Federal Government listed on such supplemental schedule.
No Loan Party is in breach of or in default under any Material Contract or Material Government Contract.
As of the date of this Agreement, none of the Acquired Companies or, to the extent related to the Business, Seller or any of its other Controlled Affiliates have received written notice that any Material Government Contract or proposal for a Material Government Contract is the subject of any award protest proceedings.

More Definitions of Material Government Contract

Material Government Contract means any Government Contract, with respect to which the aggregate amount of EBITDA reasonably attributable to such Government Contract for the four fiscal quarters ending on or most recently ended prior to any date of determination is greater than ten percent of EBITDA for the same four fiscal quarter period.

Material Government Contract means any Government Contract, and where applicable, individual delivery and individual task orders under any Government Contract, (i) listed on Schedule 8.15 or (ii) (A) involving, or which may involve, monetary liability under open orders or accounts receivable thereunder in an amount in excess of $2,000,000 over the remaining term of such contract and (B) that has a remaining term of greater than six (6) months.

Material Government Contract means a Government Contract with potential payment obligations by a Governmental Authority to the Borrower or any of its Subsidiaries which are in excess of $5,000,000.

Material Government Contract means a Government Contract with a remaining term in excess of six (6) months pursuant to which the aggregate value of goods or services to be provided thereunder exceeds $5,000,000 over the remaining term of such contract.

Material Government Contract has the meaning set forth in the Collateral Agreement.

Material Government Contract means any Government Contract for which: (i) the total contract value, in the aggregate (including the exercise of any options), is $3,000,000 or greater and for which the original contract was executed since January 1, 2018 through the date of this Agreement, and which either (a) is with respect to or involves the direct or indirect provision of any goods or services to any intelligence, defense or military branch of any U.S. Governmental Entity or (b) to the knowledge of the Company, involves the direct or indirect provision of any Defense Article or Defense Service as defined in 22 C.F.R. 120.6 and 22 C.F.R. 120.9 to an end-user that is an intelligence, defense, or military branch of a non-U.S. Governmental Entity as determined by relevant end-user statement on applicable license or authorization or equivalent requirements in the jurisdiction from which the goods or services are provided; (ii) the total contract value, in the aggregate (including the exercise of any options) is $5,000,000 or greater; or (iii) any security clearance or similar authorization is required, including due to the classified or secret nature of such work.

Material Government Contract has the meaning set forth in Section 3.30(a).