Casella breached
debt covenants in 2012 before inking a new, two - year refinancing deal in mid-2012.
Not exact matches
Lion's investment came with what KeyBanc Capital Markets analyst Edward Yruma,
in a recent note, called «unusually tight»
debt covenants.
In January, the Company replaced its existing
debt with a $ 10.0 million credit agreement to strengthen its balance sheet, provide additional cash for operations and provide increased financial and operating flexibility through a
covenant package more suitable to its business.
The fund disclosed this month it is not
in compliance with one of its
debt covenants, and reported there is «significant doubt» it can repay the $ 65.6 - million loan as required by Dec. 31.
Another way to look at that is if those
in the audience who know what
covenant - light loans are, which are loans without a lot of stuff tied around you, back
in» 06,»07 less than 20 percent of the
debt was issued cov - light.
These risks and uncertainties include competition and other economic conditions including fragmentation of the media landscape and competition from other media alternatives; changes
in advertising demand, circulation levels and audience shares; the Company's ability to develop and grow its online businesses; the Company's reliance on revenue from printing and distributing third - party publications; changes
in newsprint prices; macroeconomic trends and conditions; the Company's ability to adapt to technological changes; the Company's ability to realize benefits or synergies from acquisitions or divestitures or to operate its businesses effectively following acquisitions or divestitures; the Company's success
in implementing expense mitigation efforts; the Company's reliance on third - party vendors for various services; adverse results from litigation, governmental investigations or tax - related proceedings or audits; the Company's ability to attract and retain employees; the Company's ability to satisfy pension and other postretirement employee benefit obligations; changes
in accounting standards; the effect of labor strikes, lockouts and labor negotiations; regulatory and judicial rulings; the Company's indebtedness and ability to comply with
debt covenants applicable to its
debt facilities; the Company's ability to satisfy future capital and liquidity requirements; the Company's ability to access the credit and capital markets at the times and
in the amounts needed and on acceptable terms; and other events beyond the Company's control that may result
in unexpected adverse operating results.
In addition to factors previously disclosed in Tesla's and SolarCity's reports filed with the U.S. Securities and Exchange Commission (the «SEC») and those identified elsewhere in this document, the following factors, among others, could cause actual results to differ materially from forward - looking statements and historical performance: the ability to obtain regulatory approvals and meet other closing conditions to the transaction, including requisite approval by Tesla and SolarCity stockholders, on a timely basis or at all; delay in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access, in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
In addition to factors previously disclosed
in Tesla's and SolarCity's reports filed with the U.S. Securities and Exchange Commission (the «SEC») and those identified elsewhere in this document, the following factors, among others, could cause actual results to differ materially from forward - looking statements and historical performance: the ability to obtain regulatory approvals and meet other closing conditions to the transaction, including requisite approval by Tesla and SolarCity stockholders, on a timely basis or at all; delay in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access, in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
in Tesla's and SolarCity's reports filed with the U.S. Securities and Exchange Commission (the «SEC») and those identified elsewhere
in this document, the following factors, among others, could cause actual results to differ materially from forward - looking statements and historical performance: the ability to obtain regulatory approvals and meet other closing conditions to the transaction, including requisite approval by Tesla and SolarCity stockholders, on a timely basis or at all; delay in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access, in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
in this document, the following factors, among others, could cause actual results to differ materially from forward - looking statements and historical performance: the ability to obtain regulatory approvals and meet other closing conditions to the transaction, including requisite approval by Tesla and SolarCity stockholders, on a timely basis or at all; delay
in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access, in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access,
in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
in general, of funds to meet
debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all
covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provision
in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured
in a timely manner, could trigger a default of other obligations under cross-default provision
in a timely manner, could trigger a default of other obligations under cross-default provisions.
Debt covenants may soon become just another issue
in the already long list if Valeant defaults on its bond indentures.
Aceto Corp. shares tumbled after the firm said it is seeking a waiver from its bank regarding
debt service and financial
covenants, naming a new interim CFO and taking hundreds of millions of dollars
in write - downs related to its products.
The incurrence of
debt financing would result
in debt service obligations and the instruments governing such
debt could provide for operating and financing
covenants that would restrict our operations.
We expect that the New Credit Facility will contain a number of
covenants that, among other things, restrict SSE Holdings» ability to, subject to specified exceptions, incur additional
debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself, engage
in businesses that are not
in a related line of business; make loans, advances or guarantees; pay dividends or make other distributions (with certain exceptions, including tax distributions and repurchases of management equity); engage
in transactions with affiliates; and make investments.
A creditor could stipulate
in a
debt covenant that the company that's borrowing money must not exceed a certain
debt - to - equity ratio.
Emphatically, the next recession, the next equity bear market, and the accompanying collapse
in low - quality
covenant - lite
debt will not be the result of the Fed tightening rates, but will instead be part of economic and financial dynamics that are already baked
in the cake.
The past several years have featured little more than a gigantic asset swap, the short description being that massive volumes of government
debt have been swapped by central banks for massive volumes of idle bank reserves, while massive volumes of low - yielding,
covenant - lite
debt have been issued into the hands of yield - seeking investors,
in order to retire massive volumes of corporate equities at elevated valuations through buybacks.
At the end of December, $ US259.3 million of the
debt facility was drawn and Atlas said it remained
in compliance with its
covenants.
One of the Australian wine industry's greatest success stories, Casella Wines, has plunged to its first loss
in more than 20 years, putting it
in breach of its
debt covenants and forcing it to slash costs as a high Australian dollar cuts profit from its popular Yellow Tail label.
Casella Family Brands MD John Casella says the country's third - largest winemaker will return to profit this financial year, ending a horror stretch that put the vintner
in breach of its
debt covenants.
Speaking to BusinessDay from New York, where he is meeting with key US importers and distributors who handle the bulk of the 12 million cases a year the Griffith - based winery produces, Mr Casella hit out at recent reports, including one
in The Wall Street Journal, that portrayed the business as mired
in financial woes due to its first reported loss
in 20 years and a breach of its
debt covenants.
Casella Family Brands managing director John Casella says the company will return to profit this financial year, ending a horror stretch that put the nation's third - largest winemaker
in breach of its
debt covenants.
FriendFinder was either
in compliance or had waivers for all of its
debt covenants as of June 30, 2012.»
As of September 30, 2008, our balance sheet had... $ 420m
in short - term
debt... $ 411m of which had been reclassified from long - term
debt, due to our failure to comply with certain
covenants and restrictions
in the agreements governing our 2005 Notes and 2006 Notes... We do not currently have sufficient cash to repay this indebtedness if our
debt is accelerated and if the noteholders instituted foreclosure proceedings against our assets.
Accordingly, borrowers will be required to
covenant in the credit agreement to provide ongoing financial and project information not only during construction, but so long as any Bureau credit instrument is outstanding and / or until any
debt obligation to the Federal Government is fully repaid.
-» (A)
IN GENERAL. - To be eligible for assistance under this chapter, a project shall satisfy applicable creditworthiness standards, which, at a minimum, shall include -» (i) a rate
covenant, if applicable;» (ii) adequate coverage requirements to ensure repayment;» (iii) an investment grade rating from at least 2 rating agencies on
debt senior to the Federal credit instrument; and» (iv) a rating from at least 2 rating agencies on the Federal credit instrument, subject to the condition that, with respect to clause (iii), if the total amount of the senior
debt and the Federal credit instrument is less than $ 75,000,000, 1 rating agency opinion for each of the senior
debt and Federal credit instrument shall be sufficient.»
A loss of liquidity does far more damage than volatility
in earnings results, unless there are
debt covenant violations.
Only if OFHEO decides to mimic the treatment
in GAAP would it force capital - raising, absent any net worth
covenants on their
debt that might be poorly written.
During fiscal 2009, the Company was faced with a de-listing warning from the New York Stock Exchange which was only overcome due to a favorable change
in requirements, and was forced to renegotiate its revolving credit agreement at less favorable terms when it appeared the Company would likely violate its
debt covenants.
As if to add insult to injury, at the time of the dividend elimination the offering proceeds were concurrently used to prepay
debt in excess of the Company's required
covenant (ironically to the level at which DHT would be permitted to issue further dividends), and without receiving any concessions from its lender.
1) The
debt must be paid back
in 10 yrs 2) The
debt must bear an interest rate charge that is not less than the government's prescribed amount at the time it is taken out 3) Interest on the
debt must be paid not longer than 60 days after the end of the each year 4) There can be no
covenant, guarantee, or indeminity to forgive the
debt (i.e. — the debtee must have the full legal right to come after the debtor if the debtor defaults)
A review of high - yield
debt investments should cover: (1) analysis of the industry, including growth rates, special risks and leading companies; (2) analysis of the bond issuer, including the company's position
in its industry; new products; management stability; the outlook for growth
in revenues and cash flow as captured
in Earnings Before Interest, Taxes, Depreciation and Amortization, also called EBITDA; value of corporate assets and the
debt maturity schedule; and (3) analysis of the issue, including special provisions
in the «bond indenture,»
covenants protecting the bondholder, use of the money raised
in bond offerings,
debt seniority, secondary market liquidity and call provisions.
For example, the
covenant may include leases
in the
debt calculation, or it may consider capital leases as an expense.
You hereby irrevocably and unconditionally RELEASE, WAIVE, AND FOREVER DISCHARGE AND
COVENANT NOT TO SUE Ubisoft Entertainment S.A., and each of its past, present and future divisions, parent companies, subsidiaries, affiliates, predecessors, successors and assigns, together with all of their respective past, present and future employees, officers, shareholders, directors and agents, and those who give recommendations, directions, or instructions or engage
in risk evaluation or loss control activities regarding the Campaign (all for the purposes herein referred to as «Released Parties») FROM ANY AND ALL LIABILITY TO YOU, your assigns, heirs, and next of kin FOR ANY AND ALL CLAIMS, DEMANDS, CHARGES, LAWSUITS,
DEBTS, DEFENSES, ACTIONS OR CAUSES OF ACTION, OBLIGATIONS, DAMAGES, LOSS OF SERVICE, COMPENSATION, PAIN AND SUFFERING, ATTORNEYS» FEES, AND COST AND EXPENSES OF SUIT, KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, ARISING OUT OF OR RELATED TO THE PURCHASE, ACQUISITION, RENTAL, POSSESSION AND / OR USAGE, AND / OR THE INTENT TO PURCHASE, ACQUIRE, RENT, POSSESS AND / OR USE, THE ASSASSIN»S CREED UNITY VIDEO GAME AND / OR THE ASSASSIN»S CREED UNITY SEASON PASS ON ANY AND ALL PLATFORMS, AND / OR RELATED TO THE CAMPAIGN, WHETHER CAUSED BY THE NEGLIGENCE OF THE RELEASED PARTIES OR OTHERWISE.
Where the
debt limitation
covenant in a lending agreement with the bank is ambiguous as whether or not a particular form of financing counts against the limit — should we risk being sued by the bank if we think that we need that financing?
The Court of Appeal ruled that while there was no doubt that mitigation applied to a claim for damages for breach of lease
covenant, the same could not be said for a claim for rent which was
in debt.
But having bought ALM at the top of the market, the post-crisis advertising downturn hit Incisive hard and it breached its lending
covenants in 2008 as
debt grew to nine times earnings.
In the last three years we have worked on about 60 debt capital market transactions with a value of over $ 100 billion and are a recognized as market leader in High yield bonds, Yankee bonds, Eurobonds, covenanted Eurobonds, Euro and US Private Placements and EMTN offering
In the last three years we have worked on about 60
debt capital market transactions with a value of over $ 100 billion and are a recognized as market leader
in High yield bonds, Yankee bonds, Eurobonds, covenanted Eurobonds, Euro and US Private Placements and EMTN offering
in High yield bonds, Yankee bonds, Eurobonds,
covenanted Eurobonds, Euro and US Private Placements and EMTN offerings.
She has particular experience
in advising on contractual disputes, claims for urgent injunctions (including
in relation to breach of restrictive
covenants and breach of confidence), disputes between shareholders, contentious trust issues,
debt recovery, claims for professional negligence and fraud.
You know we can not let our EBITA go below $ 600 million or we are
in violation of our
debt covenants.
Having bought ALM at the top of the market, the post-crisis advertising downturn hit Incisive hard and it breached its lending
covenants in 2008 as
debt grew to nine times earnings.
He has particular experience of the sale of goods and supply of services, contracts of agency (estate agencies, recruitment agencies and financial consultancies), franchise agreements, seeking and resisting injunctive relief
in cases concerning
covenants in restraint of trade and misuse of confidential information, contracts of guarantee (enforceability and construction of terms), civil fraud, bailment and conversion,
debt recovery and restitutionary remedies.
We also represent health care organizations subject to Internal Revenue Service audits and those
in financial distress regarding compliance with financial
covenants and the restructuring of their
debt obligations.
Assisted clients
in obtaining financing and developed controls to ensure compliance with
debt covenants.
• Skilled
in monitoring
debt levels by complying with
debt covenants and performing follow up activities.