More Restrictive Covenant definition

More Restrictive Covenant means, with respect to any Subordinated Indebtedness or Permitted Refinancing having a principal amount in excess of $10,000,000, any financial covenant, negative covenant, default or similar restriction applicable to the Loan Parties or any of their Subsidiaries (regardless of whether such provision is labeled or otherwise characterized as a covenant), the subject matter of which is similar to the negative and financial covenants set forth in Article VI of this Agreement, the defaults set forth in Article VII of this Agreement or related to definitions in Article I of this Agreement, but which contains one or more percentages, ratios, amounts or formulas that is more restrictive than those set forth herein or more beneficial to the holder or holders of the Indebtedness created or evidenced by the document in which such covenant or similar restriction is contained than to the Lenders hereunder.
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More Restrictive Covenant shall have the meaning provided in Section 5.7(b) hereof.
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More Restrictive Covenant means, with respect to any Additional Notes or Subordinated Debt, any covenant or similar restriction or events of default applicable to the Credit Parties or any Restricted Subsidiary (regardless of whether such provision is labeled or otherwise characterized as a covenant), the subject matter of which is similar to the covenants or events of default set forth in Article V or Article VI or Article VII, respectively of this Agreement or related to definitions in Article I of this Agreement, but which contains one or more percentages, ratios, amounts or formulas that is more restrictive than those set forth herein or more beneficial to the holder or holders of the Indebtedness created or evidenced by the document in which such covenant or similar restriction is contained than to the Lenders hereunder; provided, that, if the Credit Documents are amended in accordance with Section 9.1 to add such covenant, similar restriction or event of default for the benefit of the Lenders, then such covenant, similar restriction or event of default shall no longer constitute a More Restrictive Covenant.
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Examples of More Restrictive Covenant in a sentence

  • Thereupon, unless waived in writing by the Required Holders within 10 Business Days of the holders’ receipt of such notice, such Additional or More Restrictive Covenant shall be deemed incorporated by reference into this Agreement, mutatis mutandis, as if set forth fully herein, effective as of the date when such Additional or More Restrictive Covenant became effective under the relevant MFL Agreement.

  • In determining whether a breach of any Financial Covenant incorporated by reference into this Agreement pursuant to this Section 9.11 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the relevant MFL Agreement shall apply notwithstanding the grace period set forth in Section 11(c)(1).

  • In determining whether a breach of any Financial Covenant incorporated by reference into this Agreement pursuant to this Section 9.10 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the relevant MFL Agreement shall apply.

  • Notwithstanding the foregoing, during the Covenant Relief Period, the Parent Guarantor shall not be required to comply with (a) the Financial Covenants described in clauses (a) through (f) above, or (b) any Additional or More Restrictive Covenant incorporated from the Bank Credit Agreement that is not required to be complied with during the Covenant Relief Period pursuant to the Bank Credit Agreement, and the Surge Period shall not be deemed to be utilized.

  • In determining whether a breach of any Financial Covenant incorporated by reference into this Agreement pursuant to this Section 9.10 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the applicable Material Credit Facility shall apply.

  • Such notification shall also inform the Purchasers of the Required Holders' right to elect in writing to substitute such More Restrictive Covenant as described below and shall state the date by which such election must be made in accordance with this Section 9.23.

  • The Required Holders may elect to substitute the More Restrictive Covenant for the corresponding Section 9.01, 9.05 or 9.06 by notifying the Company in writing within sixty (60) days after receipt of the notice referred to in the preceding sentence.

  • HOLDING COMPANY means the stock corporation to be organized under the laws of the United States, that, upon completion of the Reorganization, shall hold all of the outstanding capital stock of the Savings Bank.

  • In determining whether a breach of any financial covenant incorporated by reference into this Agreement pursuant to this Section 7.20 shall constitute an Event of Default, the period of grace, if any, applicable to such Additional or More Restrictive Covenant in the applicable Material Credit Facility shall apply.

  • The Purchaser may elect to substitute the More Restrictive Covenant for the corresponding Section 9.01, 9.05 or 9.06 by notifying the Company in writing within sixty (60) days after receipt of the notice referred to in the preceding sentence.


More Definitions of More Restrictive Covenant

More Restrictive Covenant means, with respect to any Additional Unsecured Senior Debt, any financial covenant, negative covenant, default or similar restriction applicable to the Borrower or any of its Subsidiaries (regardless of whether such provision is labeled or otherwise characterized as a covenant), the subject matter of which is similar to the negative and financial covenants set forth in Article VI of this Agreement, the defaults set forth in Article VII of this Agreement or related to definitions in Article I of this Agreement, but which contains one or more percentages, ratios, amounts or formulas that is more restrictive than those set forth herein or more beneficial to the holder or holders of the Indebtedness created or evidenced by the document in which such covenant or similar restriction is contained than to the Lenders hereunder.
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More Restrictive Covenant means, with respect to any Additional Unsecured Senior Debt or Subordinated Debt having a principal amount in excess of $5,000,000, any negative covenant or similar restriction applicable to the Credit Parties or any Subsidiary (regardless of whether such provision is labeled or otherwise characterized as a covenant), the subject matter of which is similar to the covenants set forth in Article VI of this Agreement or related to definitions in Article I of this Agreement, but which contains one or more percentages, ratios, amounts or formulas that is more restrictive than those set forth herein or more beneficial to the holder or holders of the Indebtedness created or evidenced by the document in which such covenant or similar restriction is contained than to the Lenders hereunder.
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More Restrictive Covenant shall have the meaning provided in Section 5.7(b) hereof. “Multiemployer Plan” shall mean a Pension Plan that is subject to the requirements of Subtitle E of Title IV of ERISA. “Non-Defaulting Bank” shall mean, at any time, each Bank that is not a Defaulting Bank at such time. “Non-Increasing Lender” shall have the meaning provided in Section 2.5(d) hereof. “Note” shall mean any Revolving Credit Note, Swing Line Note, or any other note delivered pursuant to this Agreement. “Notice of Loan” shall mean a Notice of Loan in the form of the attached Exhibit C. “Notice of Swing Line Loan Refunding” shall have the meaning provided in Section 2.1B(1) hereof.
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Related to More Restrictive Covenant

  • Restrictive Covenant has the meaning set forth in Section 6(c).

  • Restrictive Covenant Agreement means any agreement, and any attachments or schedules thereto, entered into by and between the Participant and the Partnership or its Affiliates, pursuant to which the Participant has agreed, among other things, to certain restrictions relating to non-competition (if applicable), non-solicitation and/or confidentiality, in order to protect the business of the Partnership and its Affiliates.

  • Restrictive Covenants means the restrictive covenants contained in Section 13(c) hereof.

  • Restrictive Covenant Violation means the Participant’s breach of the Restrictive Covenants listed on Appendix A or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s vendors, suppliers, customers, or employees, or any similar provision applicable to or agreed to by the Participant.

  • Supine restraint means the restraint of a student in a face-up position on the student’s back on the floor or another surface and with physical pressure applied to the body of the student to keep the student in the supine position.

  • Prone restraint means a restraint in which a student is held face down on the floor.

  • restrictive condition means any condition registered against the title deed of land restricting the use, development or subdivision of the land concerned:

  • Restrictive Agreement an agreement (other than a Loan Document) that conditions or restricts the right of any Borrower, Subsidiary or other Obligor to incur or repay Borrowed Money, to grant Liens on any assets, to declare or make Distributions, to modify, extend or renew any agreement evidencing Borrowed Money, or to repay any intercompany Debt.

  • Resale Restriction Termination Date shall have the meaning specified in Section 2.05(c).

  • Employment Agreement has the meaning specified in the recitals to this Agreement.

  • Non-Compete Agreement means that certain Non-Compete Agreement between the Company and the Executive in substantially the form attached hereto as Exhibit B.

  • Transfer Restriction means any condition to or restriction on the ability of the Subscriber to pledge, sell, assign or otherwise transfer the Shares under any organizational document, policy or agreement of, by or with the Company, but excluding the restrictions on transfer described in paragraph 6(c) of this Subscription Agreement with respect to the status of the Shares as “restricted securities” pending their registration for resale or transfer under the Securities Act in accordance with the terms of this Subscription Agreement.

  • Least restrictive alternative means the treatment and conditions of treatment which, separately and in combination, are no more intrusive or restrictive of freedom than reasonably necessary to achieve a substantial therapeutic benefit to the minor, or to protect the minor or others from physical injury;

  • Restriction Agreement means the agreement setting forth the terms of an Award, and executed by a Grantee as provided in Section 7.1 hereof.