Springing Financial Covenant Triggering Event definition
Springing Financial Covenant Triggering Event means the earliest to occur of the following: (a) the Term Loan Facility is amended to remove all financial covenants or (b) the Term Loan Facility is refinanced in full with the proceeds of Funded Debt other than Funded Debt in the nature of a revolving credit facility, in each case, whose terms do not contain a maintenance financial covenant.
Examples of Springing Financial Covenant Triggering Event in a sentence
Subject to the following proviso, from and after the occurrence of a Springing Financial Covenant Triggering Event, the Borrower Parties shall not permit, at the end of each applicable fiscal quarter, .