Operational Covenants definition

Operational Covenants means the covenants relating to the operation of the Premises to further the Objects of the Helmsley Recreational Charity (523358) as set out in Clauses 4(1),4(2) and 4(4) of the Scheme dated 21st December 2006 (as amended on 30th June 2020).
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Operational Covenants means the covenants relating to the operation on the Premises of a swimming pool set out in Schedule 2 The Permitted Use means a swimming pool within Class D2 of the Town and Country Planning (Use Classes) Order 1987 (as amended by the Use Classes order 2005) and ancillary facilities for users, visitors and guests and for the provision of recreational facilities or general charitable purposes for the benefit of the inhabitants of the Parish of Helmsley. The Plan means the plan annexed to this Lease.
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Operational Covenants mean the covenants set out in the 4th Schedule. ‘Premises’ means a portion of the premises leased by the Licensor such portion being the area identified as office number XXXXX on the copy of the plan annexed hereto and which Premises are more particularly defined in the First Schedule hereto. ‘Services’ mean the services set out in the 5th Schedule. ‘Surveyor’ means any person or firm appointed by or acting for the Licensor (including an employee of the Licensor or a Group Company and including the person or firm appointed by the Licensor to collect the fees and manage the Property) to perform the function of a surveyor for any purpose of this Licence. ‘Term’ means twelve (12) months from and including the 1st day of April 2006 and expiring on the 31st day of March 2007. The term shall not exceed the period of the Lease. ‘Parties’ refers to KICTANet and AeRC.
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Examples of Operational Covenants in a sentence

  • Therefore there is no longer any need for the deposit library to contact the website owner in advance for permission.

  • Section 4.3 – Operational Covenants The TENANT further agrees to conform to all of the following provisions during the entire Term of this Lease Agreement:(a) The TENANT shall always conduct its operations in the Demised Premises under its present trade name unless the LANDLORD shall otherwise consent in writing;(b) No auction, fire or bankruptcy sales may be conducted within the Demised Premises without the prior written consent of the LANDLORD.

  • Design and Construction of the Contract Facility Pre-Service Commencement 14 Requirement for Public Meeting for New Build Facilities 16 Service Commencement 17 ARTICLE 4 OPERATION OF THE CONTRACT FACILITY Operational Covenants 18 Regulation Service 18 Paramountcy of Safety and Law 19 Testing and Certification.

  • These requests related to Schedule 3, Operational Covenants, Nos 1, 2, 3 and 5 in the current lease, specifically public access to a rink, use of premises for bowling only and by external hirers, and opening hours of the club.

  • The undertakings in this Clause 22 (Operational Covenants) remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force.


More Definitions of Operational Covenants

Operational Covenants mean the covenants set forth in Sections 4.1(b)(vi), (vii)(F), (viii), (x) or (xxvii) (solely with respect to the items set forth in Sections 4.1(b)(vi), (vii)(F), (viii) or (x)); provided, however, that for purposes of this definition the inclusion of clause (vii)(F) of Section 4.1(b) shall be limited to hirings to fill vacancies for which the cost is greater than the cost of the terminated Company Service Provider.
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Operational Covenants means the covenants at schedule 10 (Operational Covenants);
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Operational Covenants means covenants contained in any agreement relating to indebtedness that impose requirements or limitations on (i) the operation of the business of Holdings and its Subsidiaries, including the consummation of acquisitions, investments and dispositions or (ii) the incurrence, payment or modification of obligations to third parties, including indebtedness, contingent obligations, liens and restricted payments; provided, however, Operational Covenants shall not include any interest, premium, fee or indemnification obligations, registration rights, trustee matters or securities law obligations that relate solely to the terms of such indebtedness.
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Operational Covenants means the Covenants set out in Clause 18 (Operational Covenants);
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Operational Covenants means the covenants relating to the operation on the Premises of a sports and social club set out in Schedule 2 The Permitted Use means a sports and social club licensed for the sale by retail of alcoholic drinks within Class D2 of the Town and Country Planning (use classes) Order 1987 (as amended by the use classes order 2005) and use of the surrounding land for tennis, bowls, football and cricket and generally as a recreational sports ground. The Plan means the plan annexed to this Lease.
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Operational Covenants means each of the covenants and undertakings set forth in Part 2 of Schedule 13;
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Related to Operational Covenants

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • 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.

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • 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.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Covenant Compliance Event means that Excess Availability at any time is less than the greater of (a) ten (10%) percent of the Line Cap or (b) $7,000,000. For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amounts set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Covenant Compliance Worksheet means a fully completed worksheet in the form of Attachment A to Exhibit C.

  • Covenant Compliance Certificate means a properly completed and executed Covenant Compliance Certificate substantially in the form of Exhibit X hereto.

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 7.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 6.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Initial compliance period means the first full three-year compliance period which begins at least 18 months after promulgation, except for the following contaminants: Dichloromethane; 1,2,4-Trichlorobenzene; 1,1,2- Trichloroethane; Benzo[a]pyrene; Dalapon; Di(2-ethylhexyl adipate; Di(2-ethylhexyl) phthalate; Dinoseb; Diquat; Endothall; Endrin; Glyphosate; Hexachlorobenzene; Hexachlorocyclopentadiene; Oxamyl (Vydate); Picloram; Simazine; 2,3,7,8-TCDD (Dioxin); Antimony; Beryllium; Cyanide; Nickel; and Thallium, initial compliance period means the first full three-year compliance period after promulgation for systems with 150 or more service connections (January 1993 -December 1995) and first full three-year compliance period after the effective date of regulation (January 1996 - December 1998) for systems having fewer than 150 service connections.

  • Compliance schedule means a schedule of events, by date, which will result in compliance with these regulations.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Additional Conditions means the terms and conditions set out in the Offer Document.

  • PJM Region Reliability Requirement means, for purposes of the Base Residual Auction, the Forecast Pool Requirement multiplied by the Preliminary PJM Region Peak Load Forecast, less the sum of all Preliminary Unforced Capacity Obligations of FRR Entities in the PJM Region; and, for purposes of the Incremental Auctions, the Forecast Pool Requirement multiplied by the updated PJM Region Peak Load Forecast, less the sum of all updated Unforced Capacity Obligations of FRR Entities in the PJM Region.

  • Locational Deliverability Area Reliability Requirement means the projected internal capacity in the Locational Deliverability Area plus the Capacity Emergency Transfer Objective for the Delivery Year, as determined by the Office of the Interconnection in connection with preparation of the Regional Transmission Expansion Plan, less the minimum internal resources required for all FRR Entities in such Locational Deliverability Area.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.