Covenant Suspension Period

Covenant Suspension Period. Means the period from and after the Amendment No. 7 Effective Date to and including the earlier of (a) March 31, 2023 and (b) the day the Borrower has delivered a Financial Covenant Election to the Administrative Agent; provided that, to the extent the Borrower has delivered a Financial Covenant Election, the "Covenant Suspension Period" with respect to clause (c)(ii) of the definition of "Covenant Suspension Conditions" and, to the extent compliance with respect to clauses (b) and (d)(i) of... the definition of "Covenant Suspension Conditions" is weekly at the time of delivery of such Financial Covenant Election, clauses (b), (d)(i) and (d)(ii) of the definition of "Covenant Suspension Conditions" shall continue in effect until the Borrower demonstrates compliance with Section 6.10(a)(i) on the last day of the Test Period in which the Borrower has delivered such Financial Covenant Election by delivering to the Specified Revolving Lenders a certificate that (x) the sum of (A) the aggregate principal amount of Revolving Loans then outstanding plus (B) the amount by which the face amount of Letters of Credit then outstanding (other than Letters of Credit that are Cash Collateralized) is in excess of $25,000,000 in the aggregate, is less than or equal to 35.0% of the aggregate principal amount of Revolving Commitments then in effect on such Test Date or (y) the Secured Leverage Ratio is less than or equal to 6.00 to 1.00 as of the last day of such Test Period. View More