Streamline Period. [Omitted].
Streamline Period. Borrowers may, at their option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least 5 days prior to requesting that a Streamline Period be put into effect, Borrowers shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrowers will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations then due hereunder. A Streamline Period may not be put into effect if there are outstanding Obligations in connection with Cash Management Services in excess of $500,000. Notwithstanding the foregoing, a Streamline Period may be permitted to exist even if Advances are outstanding so long as the Trigger Availability is in excess of $3,000,000 at all times during such period. During a Streamline Period, Borrowers will not be permitted to incur Obligations in connection with Cash Management Services in an amount more than $500,000 and no additional Letters of Credit will be issued. During a Streamline Period, Borrowers may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrowers shall provide Bank at least 15 days prior written notice thereof together with such information relating to the Eligible Accounts, the Cash Management Services Sublimit and other Collateral as Bank may reasonably request.
Streamline Period. Any period when the sum of Borrower’s unrestricted cash and Cash Equivalents, plus eighty five percent (85%) of Eligible Accounts, minus the outstanding principal balance of any Advances, is greater than or equal to Fifteen Million Dollars ($15,000,000), Borrower shall be in a “Streamline Period”. Bank may terminate the Streamline Period at any time that the conditions for a Streamline Period no longer exist.
Streamline Period. Omitted.
Streamline Period. Borrower may, at its option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least ten (10) days prior to requesting that a Streamline Period be put into effect, Borrower shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrower will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations. A Streamline Period may be put into effect if (i) there are no outstanding Obligations on the Revolving Line, or (ii) Borrower’s Quick Ratio is greater than 1.50 to 1.00. During a Streamline Period, Borrower may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrower shall provide Bank at least thirty (30) days prior written notice thereof together with a Transaction Report and such information relating to the Eligible Accounts, and other Collateral as Bank may specify.
Streamline Period. As used herein, the term “Streamline Period” means, as of any date of determination, any month for which both of the following conditions are satisfied: (i) the Adjusted Quick Ratio exceeds 1.25 : 1.00, and no Event of Default has occurred and is continuing, at all times during such month; and (ii) the Adjusted Quick Ratio exceeded 1.25 : 1.00 at all times during the 30-consecutive-day period immediately preceding such month; provided, however, that the initial Streamline Period commences on the Effective Date.
Streamline Period. During certain periods of time (each, a “Streamline Period”), provided that the Streamline Requirements are all met, Borrower’s reporting requirements shall be reduced, and certain proceeds shall be deposited in Borrower’s operating accounts instead of being applied to the Advances, as set forth in other provisions of this Agreement. Such a Streamline Period shall be deemed to be in effect as of the Effective Date. If at any time during any Streamline Period the Streamline Requirements are not met, upon written notice from Bank to Borrower the Streamline Period shall immediately cease to be effective, and any terms or conditions of this Agreement that are dependent upon the existence of a Streamline Period will immediately revert to the respective terms and conditions that are to be in force when a Streamline Period is not in effect, without the need for any further action on the part of Bank or Borrower. Further, if following the cessation of a Streamline Period the Streamline Requirements are thereafter satisfied for a period of at least 60 days (for which period Borrower must have confirmed via its monthly Compliance Certificates that the Streamline Requirements were satisfied as of two consecutive month ends during such period), Borrower may elect to again put a Streamline Period into effect pursuant to the terms hereof by giving Bank at least 30 days prior written notice, specifying the date the Streamline Period is to begin. Thus, it is the intention of the parties that Borrower have the opportunity for successive Streamline Periods to apply when and to the extent the conditions thereto are satisfied.
Streamline Period. During certain periods of time (each, a “Streamline Period”), provided that the Streamline Requirements are all met, Borrowers’ reporting requirements shall be reduced, and certain proceeds shall be deposited in Borrowers’ operating account(s) instead of being applied to the Advances, as set forth in other provisions of this Agreement. Such a Streamline Period shall be deemed to be in effect as of the Effective Date. If at any time during any Streamline Period the Streamline Requirements are not met, the Streamline Period shall immediately cease to be effective, and any terms or conditions of this Agreement that are dependent upon the existence of a Streamline Period will immediately revert to the respective terms and conditions that are to be in force when a Streamline Period is not in effect, without the need for any further action on the part of Bank or Borrowers. Further, if following the cessation of a Streamline Period the Streamline Requirements are thereafter satisfied for six consecutive months, Borrowers may elect to again put a Streamline Period into effect pursuant to the terms hereof by giving Bank at least 10 days prior written notice, specifying the date the Streamline Period is to begin. Thus, it is the intention of the parties that Borrowers have the opportunity for successive Streamline Periods to apply when and to the extent the conditions thereto are satisfied.
Streamline Period. At any time in which (i) there are no outstanding Advances or (ii) Borrower’s Net Cash is greater than the Net Cash Threshold, Borrower may, at its option, commencing on the first (1st) day of the next month, elect to be in a streamline period (each, a “Streamline Period”). At least five (5) days prior to requesting that a Streamline Period be put into effect, Borrower shall give Bank written notice thereof. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrower will either (x) provide evidence satisfactory to Bank that Borrower’s Net Cash is greater than the Net Cash Threshold, or (y) pay to Bank, by wire transfer, an amount sufficient to repay in full all Obligations. Any Streamline Period elected by Borrower pursuant to clause (x) above will immediately terminate if Borrower’s Net Cash is equal to or less than the Net Cash Threshold. During any Streamline Period elected by Borrower pursuant to clause (y) above, Borrower may not request any Credit Extensions, and Bank shall have no obligation to make any Credit Extensions. To terminate a Streamline Period, Borrower shall provide Bank at least five (5) days prior written notice thereof together with such information relating to the Eligible Accounts and other Collateral as Bank may specify.
Streamline Period. Borrower may, at its option, elect not to have any Advances outstanding during specified periods of time (each, a ‘Streamline Period’). Initially, the Streamline Period shall be in effect. To terminate a Streamline Period, Borrower shall provide Bank at least 30 days prior written notice thereof together with such information relating to the Eligible Accounts and other Collateral as Bank may specify. If a Streamline Period has been terminated, then, at least 10 days prior to requesting that a Streamline Period be put back into effect, Borrower shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrower will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations. A Streamline Period may not be put into effect if (i) there are outstanding Obligations in connection with Cash Management Services, or (ii) there are any issued (even if undrawn) Letters of Credit. During a Streamline Period, Borrower will not be permitted to incur Obligations in connection with Cash Management Services, and no Letters of Credit will be issued. During a Streamline Period, Borrower may not request any Advances, and Bank shall have no obligation to make any Advances.
