Minimum Net Worth Covenant definition

Minimum Net Worth Covenant means the covenant set forth in Schedule 1 hereto, as the same may be amended from time to time by the Servicer. Notwithstanding anything contained herein to the contrary, Schedule 1 may be amended by the Servicer, without the consent of any Series 2014-I Noteholder or any other Person and without satisfaction of the Rating Agency Condition, in connection with any amendment, modification, supplement or replacement to the Cabela’s Credit Agreement (as such term is defined in Schedule 1) by delivery by the Servicer to the Indenture Trustee of a revised Schedule 1, together with a duly executed certificate of the Servicer to the effect that such revised Schedule 1 accurately reflects the minimum net worth covenant, if any, then applicable under the Cabela’s Credit Agreement.
Sample 1
Minimum Net Worth Covenant is defined in Section 10.11(c).
Sample 1
Minimum Net Worth Covenant. Capital Expenditures Year Ending Year Ending Minimum NW Maximum Actual Actual
Sample 1

Examples of Minimum Net Worth Covenant in a sentence

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,811,798,240.99 (b) Minimum Net Worth Covenant $ 1,239,252,783.50 4.

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,824,770,743.62 (b) Minimum Net Worth Covenant $ 1,217,398,267.50 4.

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,925,094,000.00 (b) Minimum Net Worth Covenant $ 1,308,972,000.00 4.

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,872,980,000.00 (b) Minimum Net Worth Covenant $ 1,290,093,000.00 4.

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,631,943,279.00 (b) Minimum Net Worth Covenant $ 1,096,740,114.67 4.

  • It is anticipated that the amendment would include, but not be limited to, changes in the covenant pertaining to the ratio of Consolidated Total Adjusted Debt to Consolidated EBILTDA contained in Section 6.21 of the Credit Agreement, changes to the Fixed Charges Coverage Covenant and the Minimum Net Worth Covenant and changes to the interest rates and fees under the Credit Agreement.

  • The shares of ALD Common Stock to be issued pursuant to this Agreement will be, when issued pursuant to the terms of the resolution of the Board of Directors of ALD approving such issuance, validly issued, fully paid and nonassessable and not subject to preemptive rights.

  • This Minimum Net Worth Covenant shall be tested quarterly based on Borrower HPIH’s Fiscal Year End Audited Financial Statements and its quarterly internally prepared financial statements.

  • The Minimum Net Worth Covenant has not been satisfied as of the last day of the Related Fiscal Quarter No (a) Consolidated Net Worth $ 1,606,333,448.48 (b) Minimum Net Worth Covenant $ 1,083,865,574.00 4.

  • The waiver hereby granted by the Administrative Agent and the Required Banks shall not apply to any other past, present or future noncompliance with any provision of the Credit Agreement or any of the other Loan Documents (including, without, limitation, any Event of Default occurring under the Fixed Charges Coverage Covenant or the Minimum Net Worth Covenant after March 31, 2001 or failure as of March 31, 2001 to satisfy the Minimum Ratios).

Related to Minimum Net Worth Covenant

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • 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.

  • Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

  • 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.

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

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Net Worth means, with respect to any Person, an amount equal to, on a consolidated basis, such Person’s stockholder equity (determined in accordance with GAAP).

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Adjusted Net Worth of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guarantee) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guarantee pursuant to Section 18 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 19, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 19, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until all of the Guaranteed Obligations have been irrevocably paid in full in cash. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four fiscal quarters, provided, however, that:

  • Financial Covenant means the covenant set forth in Section 7.09.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • 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.

  • 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.

  • Consolidated Adjusted Net Worth means, as of any day for the Consolidated Group, the sum of (a) total shareholders’ equity or net worth plus (b) accumulated depreciation and accumulated amortization, in each case, determined on a consolidated basis in accordance with GAAP; but excluding, in any event, for purposes hereof, unrealized gains and losses on Swap Contracts reported on a consolidated balance sheet as accumulated other comprehensive income or loss.

  • 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.

  • Consolidated Net Worth means at any time the consolidated stockholders’ equity of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Test Period means, on any date of determination, the period of four consecutive fiscal quarters of the Borrower then most recently ended (taken as one accounting period).

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Consolidated Fixed Charge Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Adjusted EBITDA to (b) Consolidated Fixed Charges, in each case, for the most recently completed four (4) fiscal quarters.

  • Fixed Charges Coverage Ratio means, at any time, the ratio of (a) Consolidated Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending as of the most recent fiscal quarter ended prior to such time to (b) Consolidated Fixed Charges for such period.

  • 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.