waivers for covenant defaults

German translation: Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants

07:38 Dec 16, 2020
English to German translations [PRO]
Bus/Financial - Finance (general) / Kredite
English term or phrase: waivers for covenant defaults
Der Satz lautet:
The Company is the obligor under a Credit Agreement, comprised of Revolving Line of Credit in the original principal amount of $3,000,000 and two Term Loan’s in the original principal amount of $1,300,000 (Term Loan A) and $300,000 (Term Loan B). As of September 30, 2020, Term Loan B has been fully repaid and the total due XXX Bank was $2,050,536. The Credit Agreement is secured by a lien on all the assets of the Company. XXXX Bank has been supportive of K. as it has worked through the turnaround including providing waivers for covenant defaults, deferring the amortization of Term Loan A during the IVP and facilitating Kochek securing a Payroll Protection Plan (“PPP”).
Heike Thomas
Local time: 09:59
German translation:Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants
Explanation:
Gläubiger verzichtet auf sofortige Fälligstellung im Falle der Nichterfüllung von Bedingungen, die in Zusatzklauseln zum Kreditvertrag an den Schuldner gestellt werden.
Selected response from:

Andreas Baranowski
Japan
Local time: 17:59
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3 KudoZ points were awarded for this answer



Summary of answers provided
4Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants
Andreas Baranowski


Discussion entries: 1





  

Answers


20 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants


Explanation:
Gläubiger verzichtet auf sofortige Fälligstellung im Falle der Nichterfüllung von Bedingungen, die in Zusatzklauseln zum Kreditvertrag an den Schuldner gestellt werden.

Andreas Baranowski
Japan
Local time: 17:59
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Native speaker of: Native in GermanGerman
PRO pts in category: 9
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