Financial Covenant Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Availability is at any time less than the greater of (i) 15% of the Revolver Commitments or (ii) $7,500,000; and (b) continuing until, during each of the preceding 60 consecutive days, no Event of Default has existed and Availability has been greater than (i)15% of the Revolver Commitments and (ii) $7,500,000. Fiscal Quarter: each period of three months, commencing on the first day of a Fiscal Year. Fiscal Year: the fiscal year of Borrowers and Subsidiaries for accounting and tax purposes, ending on December 31 of each year.
Financial Covenant Trigger Period the period from and including the Financial Covenant Trigger Date until the Business Day after Availability has been $10,000,000 or greater for sixty (60) consecutive days.
Financial Covenant Trigger Period. The definition of “Financial Covenant Trigger Period” is hereby amended and restated in its entirety as follows:
Financial Covenant Trigger Period shall commence on the occurrence of a Financial Covenant Trigger Event, and shall continue until the date that the Financial Covenant Trigger Event shall have ceased to exist for a period of at least thirty (30) consecutive calendar days. Fiscal Month – a calendar month. Fiscal Quarter – a consecutive three-month period ending March 31, June 30, September 30 or December 31, as adjusted from time to time to the extent not prohibited hereunder. Fiscal Year - a consecutive twelve-month period ending December 31, as adjusted from time to time to the extent not prohibited hereunder. Flood Laws - the National Flood Insurance Reform Act of 1994 and related legislation (including the regulations of the Board).
Financial Covenant Trigger Period the period (a) commencing on any day that (i) an Event of Default occurs, or (ii) Availability is less than the greater of $8,000,000 or 10% of the Borrowing Base then in effect; and (b) continuing until, during each of the preceding 60 consecutive days, no Event of Default has existed and Availability has been more than the greater of $8,000,000 and 10% of the Borrowing Base then in effect. Payment Conditions: with respect to any investments, Distributions, payment of Debt, (i) both before and after giving effect to any such transaction and giving pro forma effect to the applicable transaction, no Default or Event of Default has occurred and is continuing or would arise as a result of the applicable transaction,
Financial Covenant Trigger Period the period (a) commencing on any day that (i) an Event of Default occurs, or (ii) Availability is less than 10% of the aggregate Revolver Commitments at any time; and (b) continuing until, during each of the preceding 30 consecutive days, no Event of Default has existed and Availability has been more than 10% of the aggregate Revolver Commitments. Fiscal Quarter: each period of three months, commencing on the first day of a Fiscal Year.
Financial Covenant Trigger Period the period (a) commencing on any day that (i) an Event of Default occurs, or (ii) Availability is less than the greater of (x) $4,500,000 or (y) 15% of the Borrowing Base; and (b) continuing until, during each of the preceding 45 consecutive days, no Event of Default has existed and Availability has been more than the greater of $4,500,000 and 15% of the Borrowing Base. Fiscal Quarter: each period of three months, commencing on the first day of a Fiscal Year, and each subsequent period of three months thereafter. Fiscal Year: the fiscal year of Borrowers and Subsidiaries for accounting and tax purposes, ending on December 31 of each year.
Financial Covenant Trigger Period shall commence on the occurrence of a Financial Covenant Trigger Event, and shall continue until the date that the Financial Covenant Trigger Event shall have ceased to exist for a period of at least thirty (30) consecutive calendar days.
Financial Covenant Trigger Period shall commence on the occurrence of a Financial Covenant Trigger Event, and shall continue until the date that the Financial Covenant Trigger Event shall have ceased to exist for a period of at least thirty (30) consecutive calendar days. Fiscal Month - a calendar month. Fiscal Quarter - a consecutive three-month period ending March 31, June 30, September 30 or December 31, as adjusted from time to time to the extent not prohibited hereunder. Fiscal Year - a consecutive twelve-month period ending December 31, as adjusted from time to time to the extent not prohibited hereunder. Flood Laws - the National Flood Insurance Reform Act of 1994 and related legislation (including the regulations of the Federal Reserve Board). Flood Notice - as defined in the definition of Collateral and Guarantee Requirement. Floor - zero percent (0.00%) per annum. FLSA - the Fair Labor Standards Act of 1938. Foreign Lender - any Lender that is organized under the laws of a jurisdiction other than the laws of the United States, or any state or district thereof. Foreign Subsidiary - a Subsidiary other than a Domestic Subsidiary. Full Payment of the Obligations - the occurrence of the following: (a) the Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification DOCPROPERTY DOCXDOCID DMS=InterwovenIManage Format=<<NUM>>v<<VER>> PRESERVELOCATION \* MERGEFORMAT 11055505v9 obligations and Bank Product Debt as to which arrangements with respect thereto reasonably satisfactory the applicable Bank Product Provider shall have been made), and (c) all Letters of Credit have terminated, expired or Cash Collateralized (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the applicable Issuing Bank shall have been made). For the avoidance of doubt, “Full Payment of the Obligations” shall not include payment of Bank Product Debt. GAAP - generally accepted accounting principles in the United States in effect from time to time; provided, however, that if Administrative Borrower notifies Agent that Administrative Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if Agent notifies Administrative Borrower that Required Lenders request an amendment to any provision hereof for such purposes), regardless of whether any such notice is given before or after suc...
Financial Covenant Trigger Period the period (a) commencing on any day that (i) an Event of Default occurs, (ii) Availability is less than the greater of (x) 15% of the Borrowing Base and (y) 133315237_8 $3,000,000, or (iii) Liquidity is less than $30,000,000; and (b) continuing until, during each of the preceding 90 consecutive days, (i) no Event of Default has existed, (ii) Availability has been not less than the greater of (x) 15% of the Borrowing Base and (y) $3,000,000, and (iii) Liquidity is not less than $30,000,000. Fiscal Quarter: each period of three months, commencing on the first day of a Fiscal Year. Fiscal Year: the fiscal year of Borrowers and Subsidiaries for accounting and tax purposes, ending on December 31 of each year.
