Coverage Covenant definition

Coverage Covenant shall have the meaning set forth in Section 6.10(b).
View Source
Coverage Covenant has the meaning assigned to such term in Section 6.12(c).
View Source
Coverage Covenant and any such other facility, an “Other Facility”), Guarantor has entered into amendments to implement the changes set forth in this Amendment in such Other Facility, and, in each case, after giving effect to such amendment, the Interest Coverage Covenant set forth in such Other Facility is no more restrictive to Guarantor than the Interest Coverage Covenant set forth in Section 5(c) of the Guaranty after giving effect to this Amendment. For the avoidance of doubt, Guarantor hereby acknowledges and agrees that, notwithstanding the changes to Section 5(c) of the Guaranty set forth in this Amendment, Section 5 of the Guaranty shall remain at all times subject to Section 34 of the Guarantee in all respects (such date, the “Amendment Effective Date”).
View Source

Examples of Coverage Covenant in a sentence

  • No Borrower shall be permitted to pay dividends, management fees (except for Permitted Management Fees), capital distributions or other payments to its members or other Persons (all of the foregoing, collectively "Distributions") during the term of the Loan without FINOVA's prior written consent, until the first month in which such Borrower first achieves compliance with the Debt Service Coverage Covenant.

  • Subject to the satisfaction of the conditions precedent set forth in Section 4(b), the Required Lenders waive any Default arising from the failure of the Company to comply with Section 7.10(b) (Minimum Fixed Charge Coverage Covenant) of the Credit Agreement for the Computation Period ending December 31, 2002.

  • If, at any time, the Issuer does not have a number of shares reserved and available exclusively for the Issuer in case of the conversion of any Notes equal to 150% of the outstanding aggregate principal amount converted into CHF using the Noteholder's Rate of Exchange divided by the applicable Conversion Price B, and the Issuer has not rectified this within a period of 20 Trading Days following the initial breach, then this is considered a Breach of the Share Coverage Covenant.

  • Without limiting the generality of the foregoing, each set of projections shall include a detailed analysis of "lease-up" period applicable to the particular Facility and the anticipated point at which such Facility shall achieve a level of Operating Cash Flow sufficient to satisfy the Debt Service Coverage Covenant and Debt Service After Management Fee Coverage Covenant, each as set forth in Section 10.14 herein.

  • The Company has requested that the Banks (i) modify certain affirmative and negative covenants to permit the Company to guarantee certain indebtedness and to permit the Company's Subsidiary, International, to enter into certain indebtedness, and (ii) to waive the Company's noncompliance with its Fixed Charge Coverage Covenant, and other covenants, as of September 30, 1996.

  • Furthermore, notwithstanding anything to the contrary in Section 8.03, on and after the First Amendment Effective Date, other than for purposes of Section 8.03, all references to the Financial Covenant in this Agreement shall include the Interest Coverage Covenant.

  • No Interest Coverage Equity Cure Contribution shall be any greater than the minimum amount required for the Borrower to be in compliance with the Interest Coverage Covenant in the applicable Interest Coverage Cure Quarter including, without limitation, for purposes of calculating any amounts to be added back to Consolidated EBITDA pursuant to clause (o) of the definition thereof.

  • For the avoidance of doubt, the Fixed Charge Coverage Covenant shall not be tested on the last day of any Test Period (and will not give rise to any Default or any Event of Default on such day) if the Borrower has not paid any Restricted Payment in cash to the holders of any Preferred Stock during the Test Period then ended.

  • No Interest Coverage Equity Cure Contribution shall be any greater than the minimum amount required for the Borrower to be in compliance with the Interest Coverage Covenant in the applicable Interest Coverage Cure Quarter.

  • Parent shall maintain a minimum ratio of its Adjusted EBITDA to Total Debt Service throughout the term of the Loan (the "Total Debt Service Coverage Covenant").


More Definitions of Coverage Covenant

Coverage Covenant means the covenant made by the District in the Bond Resolution to establish, maintain and collect such assessments and rates or tolls and charges levied and collected in the same manner as are assessments for service by its Irrigation Facilities in an amount which, together with the collection of ULID Assessments, other Gross Revenue and other District revenues available and directed by the Board to be used therefor, will make available annually an amount sufficient (1) to pay Operating and Maintenance Expenses, (2) to pay amounts due on the Prior Lien Obligation, (3) to pay debt service on the Parity Bonds outstanding, (4) to maintain the Reserve Requirement, and (5) to make and satisfy any other payments and funding requirements required by the Bond Resolution.
View Source

Related to Coverage 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.

  • Financial Covenant has the meaning specified in Section 7.08.

  • Negative Covenants means any negative or similar restrictive covenant (including, without limitation, under Article 7) made by the Borrowers in this Agreement or in any other Loan Document.

  • 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.