Performance Covenants definition

Performance Covenants means the covenants set forth in Section 7 of this Agreement.
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Performance Covenants means the covenants set forth in Section 7 of the Agreement.
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Performance Covenants the covenants of Borrower set forth in Sections 10.3.1 and 10.3.2. First Amendment: the First Amendment to Loan and Security Agreement dated as of the First Amendment Effective Date, among Agent, Obligors, Issuing Bank and the Lenders party thereto. First Amendment Effective Date: October 14, 2022. First Lien Net Leverage Ratio: as of any date, the ratio of (a) Consolidated First Lien Net Debt as of such date to (b) EBITDA for the applicable Test Period ended on such date, or if such date of determination is not the end of a Fiscal Quarter, the applicable Test Period ended most recently prior to the date on which such determination is to be made, all determined on a consolidated basis in accordance with GAAP; provided, that to the extent any Asset Disposition or any Acquisition (or any similar transaction or transactions for which a waiver or a consent of the Required Lenders pursuant to Section 10.2.5 or 10.
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Examples of Performance Covenants in a sentence

  • By deleting Exhibit M (Financial Performance Covenants) to the Credit Agreement in its entirety and substituting the attached Exhibit M in its stead.

  • If the most recent Fiscal Quarter for which Section 6.1 Financials have been delivered was not a Measurement Quarter, then Holdings would have been in compliance with the Financial Performance Covenants as of the last day of such Fiscal Quarter as if it were a Measurement Quarter.

  • Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised and (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenants.

  • For purposes of the Financial Performance Covenants, amounts in currencies other than dollars shall be translated into dollars at the currency exchange rates used in preparing the most recently delivered financial statements pursuant to Section 5.01(a) or (b).

  • With respect to any Borrowing of Term Loans after the Closing Date, the Borrower shall be in compliance on a Pro Forma Basis with the Financial Performance Covenants as of the last day of the last Fiscal Quarter for which Financial Statements have been delivered hereunder after giving effect to such Borrowing and the application of the proceeds therefrom.

  • Notwithstanding anything herein to the contrary, (i) in each Test Period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (ii) in each eight-fiscal quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised and (iii) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenants.

  • The parties agree that irreparable damage would occur and that the parties would not have any adequate remedy at law in the event that (a) any Pre-Closing Specific Performance Covenants are not performed in accordance with their specific terms prior to the Closing or (b) any Post-Closing Specific Performance Covenants are not performed in accordance with their specific terms subsequent to the Closing.

  • Notwithstanding anything herein to the contrary, (a) in each four fiscal-quarter period there shall be at least two consecutive fiscal quarters during which the Cure Right is not exercised and (b) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenants.

  • For the avoidance of doubt, no Cure Amounts shall be applied to reduce the Indebtedness of Holdings and its Restricted Subsidiaries on a Pro Forma Basis for purposes of determining compliance with the Financial Performance Covenants and there shall not have been a breach of any covenant under Article VI of this Agreement by reason of having no longer included such Cure Amount in any basket during the relevant period.

  • Upon exercise by Company of a Debt Default Cure Right, such Financial Performance Covenants shall be recalculated giving effect to the prepayment of Indebtedness pursuant to Section 2.10(d).


More Definitions of Performance Covenants

Performance Covenants means the financial covenants set forth in Section 9.1. hereof.
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Related to Performance Covenants

  • 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.

  • 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.

  • Incurrence Covenant A covenant by any borrower to comply with one or more financial covenants only upon the occurrence of certain actions of the borrower, including a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture.

  • Performance Condition means a condition related to performance which is specified by the Committee under Rule 3.1 (Terms of grant);