Examples of Specified Financial Covenants in a sentence
Upon delivery of a Compliance Certificate pursuant to Section 10.1.2(d) conforming to the requirements of this Section, any Event of Default that is continuing from a breach of any of the Specified Financial Covenants shall be deemed cured with no further action required by the Lenders.
Specified Financial Covenants shall mean, collectively, the Quarterly Tested Financial Covenants and the Monthly Tested Financial Covenant.
For the avoidance of doubt, Borrower shall comply with Section 10.01 at all times and this Section 10.03 shall apply only to the Specified Financial Covenants.
The cash therefrom immediately shall be contributed as equity or subordinated debt (only as permitted pursuant to Section 9.01), as applicable, to Borrower, and upon the receipt by Borrower of the Cure Amount pursuant to the exercise of such Cure Right, such Cure Amount shall be deemed to constitute Revenue from the sale of the Product of Borrower for purposes of the Specified Financial Covenants and the Specified Financial Covenants shall be recalculated for all purposes under the Loan Documents.
Upon the receipt of Curative Equity pursuant to this Section 8.02 and inclusion of such Curative Equity in the calculation of the Specified Financial Covenants as deemed Consolidated EBITDA for any fiscal quarter pursuant to this Section 8.02, then no Event of Default solely with respect to determining compliance with the Specified Financial Covenants for such fiscal quarter shall be deemed to have occurred.