Fixed Charge Trigger Period Sample Clauses

Fixed Charge Trigger Period the period (a) commencing on the day that Availability is less than the Fixed Charge Trigger Threshold and (b) continuing until the date that during the previous 45 consecutive days, Availability has been greater than the Fixed Charge Trigger Threshold at all times during such period, provided that the Parent shall have the right to make a cash equity contribution to the Borrowers (the “Cure Right”) within 10 days of the first date that Availability is less than the Fixed Charge Trigger Threshold (the “Fixed Charge Trigger Date”), in an amount that would be sufficient to increase Availability to an amount greater than the Fixed Charge Trigger Threshold as of the Fixed Charge Trigger Date, and upon receipt by the Agent within such 10 day period of such cash amount (the “Cure Amount”) pursuant to the exercise by Parent of such Cure Right, such Fixed Charge Trigger Period shall be deemed not to have occurred; provided, that (i) no Credit Extensions shall have been requested by Borrower Agent during the period from the Fixed Charge Trigger Date to the date the Cure Amount is received, (ii) the Cure Right may only be exercised up to two (2) times in any Fiscal Year and (iii) to the extent that on the date the Cure Amount is received by Agent, the Availability on such date is less than the Availability on the Fixed Charge Trigger Date (as a result of deemed Borrowings, interest or other amounts becoming due, changes in the Borrowing Base, or otherwise), the Cure Amount shall be in an amount sufficient to increase Availability as of the date the Cure Amount is received by Agent to an amount greater than the Fixed Charge Trigger Threshold as of such date.
Sample 1Sample 2
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Fixed Charge Trigger Period. The period commencing on the day that Availability is less than the greater of (a) $12,500,000 and (b) ten percent (10%) of the Commitments at any time and continuing until, during the preceding thirty (30) consecutive days, no Event of Default has existed and Average Availability is equal to or greater than the greater of (a) $12,500,000 or (b) ten percent (10%) of the Commitments for such period. Floor: the benchmark rate floor, being 0.00%, provided herein (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to LIBOR. Inventory Formula Amount: the sum of (x) the lesser of (i) 75% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory, (y) the least of (i) 75% of the Value of Eligible Work-In-Process Inventory, (ii) 85% of the NOLV Percentage of the Value of Eligible Work-In-Process Inventory and (iii) $25,000,000 and (z) an amount not greater than $10,000,000 representing positive capitalized variances for Inventory that would not otherwise be Eligible Inventory.
Sample 1
Fixed Charge Trigger Period. The period commencing on the day that Availability is less than the greater of (a) $10,000,000 and (b) ten percent (10%) of the Commitments at any time and continuing until, during the preceding thirty (30) consecutive days, Availability is equal to or VP/#37368070.5 greater than the greater of (a) $10,000,000 or (b) ten percent (10%) of the Commitments for such period.
Sample 1
Fixed Charge Trigger Period the period (a) commencing on the day that Availability is less than $5,000,000 for 5 consecutive days or less than $4,000,000 at any time and (b) continuing until the date that during the previous 30 consecutive days, Availability has been greater than $5,000,000 at all times during such period. 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.
Sample 1

Related to Fixed Charge Trigger Period

  • Fixed Charge Coverage Ratio The Borrower shall not permit the Fixed Charge Coverage Ratio to be less than 1.15 to 1.0 at the end of the fiscal quarter ended on June 30, 2008, or at the end of any fiscal quarter ended thereafter.

  • Fixed Charge Coverage As of the last day of each calendar quarter, the ratio of (x) Annual EBITDA, less reserves for Capital Expenditures of (i) $.25 per square foot per annum for each Real Property Asset that is an office or retail property and (ii) $250 per unit for each Real Property Asset that is a multi-family residential property, to (y) the sum of (i) Total Debt Service and (ii) dividends or other payments payable by the General Partner with respect to any preferred stock issued by the General Partner and distributions or other payments payable by the Borrower with respect to any preferred partnership units of the Borrower, will not be less than 1.5:1.0.

  • Minimum Fixed Charge Coverage Ratio Permit the Fixed Charge Coverage Ratio, as of the last day of any fiscal quarter of the Company, to be less than 1.5:1.00.

  • Fixed Charge Ratio Maintain a Fixed Charge Ratio as determined as of each Calculation Date of not less than 1.50: 1. The Fixed Charge Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.

  • Minimum Fixed Charge Coverage The ratio of (a) Adjusted EBIT for any Rolling Four Quarter Period to (b) Fixed Charges for the same Rolling Four Quarter Period, to be less than 1.50 to 1.00.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.00.

  • Minimum Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.5 to 1.0.

  • Trigger Event The term “Trigger Event” means any of the following: (a) Company (i) becomes insolvent, bankrupt or generally fails to pay its debts as such debts become due, (ii) is adjudicated insolvent or bankrupt, (iii) admits in writing its inability to pay its debts, (iv) suffers the appointment of a custodian, receiver or trustee for its assets and, if appointed without its consent, not discharged [***], (v) makes an assignment of its assets for the benefit of creditors, or (vi) suffers proceedings being instituted against it under any law related to bankruptcy, insolvency, dissolution, liquidation or the reorganization, readjustment or release of multiple debtors and, if contested by it, not dismissed or stayed within [***]; (b) the institution or commencement by Company of any proceeding under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or release of multiple debtors; (c) the entering of any order for relief relating to any of the proceedings described in Section 6.4(a) or (b) above; (d) the calling by Company of a meeting of multiple creditors with a view to arranging a composition of adjustment of its debts; (e) the act or failure to act by Company that results in its consent to, approval of, or acquiescence in any of the proceedings described in Section 6.4(a) - (d) above; or (f) the commencement by Company or an Affiliate or Third Party sublicensee of Company of any action against Penn to declare or render invalid or unenforceable the Patent Rights or Exhibit D Patents or any claim thereof, including but not limited to an action for declaratory judgment (a “Patent Challenge”).

  • Fixed Charges with respect to the Borrower and Restricted Subsidiaries for any Test Period, the sum, determined on a Consolidated basis, of: a) Consolidated Net Cash Interest Expense (i) with respect to the Borrower and its Restricted Subsidiaries on a Consolidated basis for any period, determined in accordance with GAAP, total interest expense paid or payable in cash in such period (including that attributable to obligations with respect to Capitalized Leases in accordance with GAAP in effect on the Effective Date but excluding any imputed interest as a result of purchase accounting) of the Borrower and its Restricted Subsidiaries on a Consolidated basis and all commissions, discounts and other fees and charges owed with respect to Indebtedness of the Borrower and its Restricted Subsidiaries $ provided that Consolidated Net Cash Interest Expense shall not include (i) any non-cash interest or deferred financing costs, (ii) any amortization or write-down of deferred financing fees, debt issuance costs, discounted liabilities, commissions, fees and expenses, (iii) any expensing of bridge, commitment and other financing fees and (iv) penalties and interest related to taxes (ii) interest income of the Borrower and its Restricted Subsidiaries actually received in cash during such period after giving effect to any net payments made or received by the Borrower and its Restricted Subsidiaries with respect to interest rate Swap Contracts. $ Consolidated Net Cash Interest Expense (iii) item (A)(3)(a)(i) minus item (A)(3)(a)(ii) $ b) Scheduled payments of principal on Indebtedness for borrowed money of the Borrower and Restricted Subsidiaries due and payable during such period $ Fixed Charges c) the sum of item (A)(3)(a)(iii) and item (A)(3)(b) $

  • Consolidated Senior Secured Leverage Ratio Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower (beginning with the fiscal quarter ended September 30, 2018) to be greater than (A) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at all other times, 3.50 to 1.00.

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