Financial Covenants Contract Clauses (154)

Grouped Into 3 Collections of Similar Clauses From Business Contracts

This page contains Financial Covenants clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Financial Covenants. Each Borrower covenants and agrees that, until the termination of all of the Commitments and the payment in full of the Obligations, Borrowers will: (a) Fixed Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio, calculated for each 12 month period ending on the first day of any Covenant Testing Period and the last day of each fiscal month occurring until the end of any Covenant Testing Period (including the last day thereof), in each case of at least 1.10 to 1.00. (b) Minimum Liquidity.... At all times, maintain (i) Liquidity of at least $25,000,000, and (ii) Availability of at least $9,000,000. View More
Found in JAKKS PACIFIC INC contract
Financial Covenants. (a) Fixed Charge Coverage Ratio. Each Borrower covenants and agrees that, until the termination of all of the Commitments and the payment in full of the Obligations, Borrowers will: (a) Fixed Charge Coverage Ratio. Maintain will maintain a Fixed Charge Coverage Ratio, calculated for each 12 month period ending on the first day of any Covenant Testing Period and the last day of each fiscal month occurring until the end of any Covenant Testing Period (including the last day thereof), in each case ...of at least 1.10 1.00 to 1.00. (b) Minimum Liquidity. At all times, maintain (i) Liquidity of at least $25,000,000, and (ii) Availability of at least $9,000,000. View More
Found in NORTHWEST PIPE CO contract
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Financial Covenants. Until all of the Obligations (other than contingent indemnification obligations not then due) have been paid and satisfied in full in cash, all Letters of Credit have been terminated or expired and the Commitment terminated, the Account Party covenants and agrees to the following: (a) Minimum Total Shareholder's Equity. The total shareholder's equity of the Account Party, determined in accordance with GAAP, shall be at all times an amount not less $2,143,539,163.00. (b) Financial Strength Rating...s. The Account Party shall at all times maintain a financial strength rating by A.M. Best Company and shall not permit such rating to be lower than "B++." 9. NEGATIVE COVENANTS. (a) [Reserved]. View More
Found in Everest Re Group Ltd. contract
Financial Covenants. Until all of the Obligations (other than contingent indemnification obligations not then due) have been paid and satisfied in full in cash, all Letters of Credit have been terminated or expired expired, without any pending drawing thereon, and the Commitment terminated, the Account Party covenants and agrees to the following: (a) Minimum Total Shareholder's Equity. The total shareholder's equity of the Account Party, determined in accordance with GAAP, shall be at all times an amount not less $2...,143,539,163.00. [*****] (b) Financial Strength Ratings. The Account Party shall at all times maintain a financial strength rating by A.M. Best Company and shall not permit such rating to be lower than "B++." [*****] 9. NEGATIVE COVENANTS. (a) COVENANTS.(a) [Reserved]. View More
Found in Everest Re Group Ltd. contract
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Financial Covenants. 5 a.Section 7.1(c) of the Credit Agreement is hereby deleted and replaced with the following: "(c)" Minimum Liquidity. The US Borrower's Liquidity to be less than Five Hundred Thousand and 00/100 ($500,000.00) Dollars as of the as of the Friday of each week while the Loans are outstanding." b.New section 7.1(e) is hereby added to the Credit Agreement as follows: "(e) Borrowers' monthly sales for: (i) the month ending August 31, 2022 to be less than Twelve Million One Hundred Thousand and 00/100 ...($12,100,000.00) Dollars ; and (ii) the month ending September 30, 2022 to be less than Eleven Million Seven Hundred Thousand and 00/100 ($11,700,000.00) Dollars. Borrower shall deliver to Agent within fifteen (15) days of the end of each month a monthly sales report and supporting documentation acceptable to the Agent evidencing compliance with the minimum monthly sales covenant." c.Section 7 of the Third Amendment (as amended by the Sixth Amendment and the Ninth Amendment) is hereby deleted and replaced with the following: "The Obligors' actual cumulative total cash disbursements reflected on the Cash Flow Statements shall not exceed the projected total cash disbursements for the same cumulative period as set forth on the cash projection schedule attached hereto as Exhibit A (the "Projections) by more than 15% at any time during the Forbearance Period. The foregoing covenant shall be tested weekly on a rolling basis during the Forbearance Period commencing July 13, 2022. d.Exhibit A attached to the Ninth Amendment setting forth the Projections is hereby deleted and replaced with Exhibit A, attached hereto. View More
Found in Unique Fabricating, Inc. contract
Financial Covenants. 5 a.Section 7.1(c) of the Credit Agreement is hereby deleted and replaced with the following: "(c)" "(c) Minimum Liquidity. The US Borrower's Liquidity to be not less than Five Hundred Thousand and 00/100 ($500,000.00) Dollars as of the as of the Friday of each week while the Loans are outstanding." b.New section b.Section 7.1(e) is hereby added of the Credit Agreement (added to the Credit Agreement as follows: by the Tenth Amendment) is hereby deleted and replaced with the following: "(e) Borro...wers' monthly sales for: (i) for the month ending two-month period of August 31, 1, 2022 to through September 30, 2022 shall not be less than Twelve Million One Hundred Thousand and 00/100 ($12,100,000.00) Dollars ; and (ii) the month ending September 30, 2022 to be less than Eleven Twenty-Three Million Seven Hundred Thousand and 00/100 ($11,700,000.00) ($23,700,000.00) Dollars. Borrower shall deliver to Agent within fifteen (15) days of the end of each month September, 2022 a monthly sales report and supporting documentation acceptable to the Agent evidencing compliance with the minimum monthly sales covenant." c.Section 7.ADVISOR. The date of October 7, 2022 set forth in section 4(c) of the Tenth Amendment is hereby deleted and replaced with October 14, 2022. 6 8.CASH FLOW. a.Section 6(b) of the Third Amendment (as amended by the Sixth Amendment and the Ninth Amendment) is hereby deleted and replaced with the following: "(b) Commencing with Wednesday, October 5, 2022 and on each Wednesday of each successive week through the Forbearance Period, the Obligors shall provide to the Agent a comprehensive statement of actual cash flow (the "Cash Flow Statements") of the Obligors for the immediately preceding calendar week and on a cumulative to-date basis from the period beginning September 19, 2022 through the end of such immediately preceding calendar week, said Cash Flow Statements shall be prepared on a consistent basis and in a manner and form acceptable to Agent and include therewith a comparison of actual cash flow versus the projected cash flow according to the Projections (as defined in Section 7 of the Third Amendment as amended by the Ninth Amendment), for both the immediately preceding week and on a cumulative basis, along with explanation of any significant deviations from the Projections;" b.Section 7 of the Third Amendment (as amended by the Sixth Amendment and the Ninth Amendment) is hereby deleted and replaced with the following: "The Obligors' actual cumulative total cash disbursements reflected on the Cash Flow Statements shall not exceed the projected total cash disbursements for the same cumulative period as set forth on the cash projection schedule attached hereto as Exhibit A (the "Projections) by more than 15% at any time during the Forbearance Period. The foregoing covenant shall be tested weekly on a rolling basis during the Forbearance Period commencing July 13, 2022. d.Exhibit 2022." c.Exhibit A attached to the Sixth Amendment and the Ninth Amendment setting forth the Projections is hereby deleted and replaced with Exhibit A, attached hereto. View More
Found in Unique Fabricating, Inc. contract
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