Revenue covenant definition

Revenue covenant means an agreement entered to pay certain specified revenues
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Revenue covenant means an agreement entered to pay certain specified revenues to one or more designated recipients that encumbers title to identified land as a covenant and passes with title to such land from owner to owner so that the land cannot be conveyed to a new owner without the covenant.
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Revenue covenant. Borrower shall maintain Revenues at not less than eighty percent (80%) of its Board-approved financial plan (as set forth in Exhibit B to this Loan and Security Agreement) over rolling three-month periods, measured monthly commencing October 2007.
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Examples of Revenue covenant in a sentence

  • Programs must participate in National Day of Service events in order to convey to AmeriCorps members, and community volunteers, that they are participants in a larger service movement that extends beyond their local community.

  • The additional risk for LGFA (and its council guarantors) from increasing the Net Debt/Total Revenue covenant stems from those councils who can borrow more either taking on additional debt or experiencing a reduced level of revenue than previously forecast.

  • Our revenues were in compliance with the quarterly twelve- month rolling Minimum Total Revenue covenant in our Credit Agreement.

  • Until that date, such Local Authority must comply with the Net Debt / Total Revenue covenant set out in the table entitled "Alternative Net Debt / Total Revenue Covenant" below.

  • Increasing the Net Debt / Total Revenue covenant in the years 2021-2025 between 250-300% as temporary covenants to enable the relevant councils to meet short-term pressures as a result of COVID-19.

  • Increasing the Net Debt / Total Revenue covenant from 250% to 280%, to be met by 2026 and to take effect annually thereafter.

  • Unfortunately, many separated people experience financial stress because the cost of maintaining two households is inevitably greater than that of maintaining one.

Related to Revenue covenant

  • 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.

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.

  • Financial Covenant has the meaning specified in Section 7.08.

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • 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.

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

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

  • Covenant Relief Period means the period commencing on the Amendment No. 3 Effective Date and ending on (but excluding) the Covenant Relief Period Termination Date.

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

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

  • 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.

  • Tax Covenant means the covenant relating to tax set out in Schedule 6;

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

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

  • Covenant means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.

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

  • 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.

  • 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.

  • SOX Compliant Entity means an entity that either is required to be compliant with, or voluntarily is compliant with, all of the following provisions of the Sarbanes-Oxley Act of 2002: (i) the preapproval requirements of Section 201 (Section 10A(i) of the Securities Exchange Act of 1934); (ii) the Audit committee independence requirements of Section 301 (Section 10A(m)(3) of the Securities Exchange Act of 1934); and (iii) the Internal control over financial reporting requirements of Section 404 (Item 308 of SEC Regulation S-K).

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • 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.

  • Tax Compliance Agreement means the Federal Tax Certificate, Tax Compliance Agreement, Arbitrage Agreement, or other written certification or agreement of the Issuer setting out representations and covenants for satisfying the post-issuance tax compliance requirements for the Tax-Exempt Bonds.

  • Covenant Suspension Event has the meaning set forth in Section 4.18.