Borrowing Base Reporting Trigger Period definition

Borrowing Base Reporting Trigger Period means any period (a) commencing on the day that an Event of Default occurs or Excess Availability is less than the Borrowing Base Reporting Excess Availability Threshold at any time and (b) continuing until no Event of Default has existed and Average Excess Availability has been greater than the Borrowing Base Reporting Excess Availability Threshold at all times for two consecutive months.

Borrowing Base Reporting Trigger Period the period (a) commencing on the day that (i) any Event of Default has occurred and is continuing for a period of 2 consecutive Business Days, or (ii) Excess Availability plus the Excess Availability Reserve for 5 consecutive Business Days is less than 15% of the Line Cap then in effect; and (b) in each case, continuing until the day that (i) Excess Availability plus the Excess Availability Reserve has been greater than 15% of the Line Cap then in effect and (ii) no Event of Default has occurred and is continuing, in the case of each of the clauses (b)(i) and (b)(ii), for a period of 30 consecutive days.

Borrowing Base Reporting Trigger Period means the period after a Borrowing Base Reporting Trigger Event and prior to a Borrowing Base Reporting Recovery Event.

Examples of Borrowing Base Reporting Trigger Period in a sentence

• By the 20th day of each month, Borrowers shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of the previous month, and at such other times as Agent may request during any Borrowing Base Reporting Trigger Period.

• Each Borrower shall conduct a physical inventory at least once per calendar year (and on a more frequent basis if requested by Agent during any Borrowing Base Reporting Trigger Period) and periodic cycle counts consistent with historical practices, and shall provide to Agent a report (Agent shall promptly deliver same to Lenders) based on each such inventory and count promptly upon completion thereof, together with such supporting information as Agent may request.

• Borrowers shall deliver to Administrative Agent (and Administrative Agent shall promptly deliver same to Lenders) a Borrowing Base Report (i) as of the close of business of the previous Fiscal Quarter by the 25th of each Fiscal Quarter, (ii) if any Loans are outstanding, as of the close of business of the previous month by the 25th day of each month, and (iii) during any Borrowing Base Reporting Trigger Period, as of the close of business of the previous week by the third Business Day of each week.

• Borrowers shall deliver to Administrative Agent (and Administrative Agent shall promptly deliver same to Lenders) a Borrowing Base Report (i) as of the close of business of the previous month by the 20th day of each month, (ii) during any Borrowing Base Reporting Trigger Period, as of the close of business of the previous week by Wednesday of each week and (iii) at such other times as Administrative Agent may request after a Default or Event of Default has occurred and is continuing.

• If a Borrowing Base Reporting Trigger Period has occurred and is continuing, the Loan Parties shall execute and deliver to Administrative Agent a Borrowing Base Certificate on or before the fifth Business Day after the end of each week.

More Definitions of Borrowing Base Reporting Trigger Period

Borrowing Base Reporting Trigger Period means the period commencing on the occurrence of a Borrowing Base Reporting Trigger Event, and continuing until the date that (a) no Specified Event of Default shall be continuing and (b) Availability is greater than or equal to the greater of (i) $26,250,000 and (ii) 17.5% of the Line Cap for a period of at least 30 consecutive calendar days.

Borrowing Base Reporting Trigger Period means the period

Borrowing Base Reporting Trigger Period means each period (a) commencing on the date that (i) Availability shall be less than the greater of (A) $15.0 million and (B) 15.0% of the Modified Revolving Loan Cap, in each case, for five (5) consecutive Business Days or (ii) an Event of Default shall have occurred, and (b) continuing until, during each of the preceding thirty (30) consecutive days, (i) Availability shall have been equal to or greater than the greater of (A) $15.0 million and (B) 15.0% of the Modified Revolving Loan Cap and (ii) no Event of Default shall have existed. The termination of a Borrowing Base Reporting Trigger Period as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Borrowing Base Reporting Trigger Period in the event that the conditions set forth in this definition again give rise to a Borrowing Base Reporting Trigger Period.

Borrowing Base Reporting Trigger Period in a manner that would (x) reduce the amounts set forth in clause (a)(i)(A) or (b)(i)(A) thereof or the numerical percentages (or the calculation of what such percentages are being applied to) set forth in clause (a)(i)(B) or (b)(i)(B) thereof, (y) modify clause (a)(ii) or (b)(ii) thereof or (z) otherwise be more favorable to the Loan Parties or (2) “Cash Dominion Trigger Period” in a manner that would (x) reduce the amounts set forth in clause (a)(i)(A) or (b)(i)(A) thereof or the numerical percentages (or the calculation of what such percentages are being applied to) set forth in clause (a)(i)(B) or (b)(i)(B) thereof, (y) modify clause (a)(ii) or (b)(ii) thereof or (z) otherwise be more favorable to the Loan Parties; 200

Borrowing Base Reporting Trigger Period means the period (a) commencing on the day that Excess Availability for three consecutive Business Days is less than the greater of (i) $10,000,000 (or, after consummation of the Billings Acquisition Increase, $40,000,000) and (ii) 12.5% of the lesser of the Borrowing Base and the Maximum Revolver Amount on such day; and

Borrowing Base Reporting Trigger Period means the period commencing on the occurrence of a Borrowing Base Reporting Trigger Event, and continuing until the date that (a) no Specified Event of Default shall be continuing and (b) Availability is greater than or equal to the greater of (i)

Borrowing Base Reporting Trigger Period means each period (a) commencing on the date that (i) Availability shall be less than the greater of (A) $15.0 million and (B) 15.0% of the Modified Revolving Loan Cap, in each case, for five (5) consecutive Business Days or (ii) an Event of Default shall have occurred, and (b) continuing until, during each of the preceding thirty (30) consecutive days, (i) Availability shall have been equal to or greater than the greater of (A) $15.0 million and (B) 15.0% of the Modified Revolving Loan Cap and (ii) no Event of Default shall have existed. The termination of a Borrowing Base Reporting Trigger Period as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Borrowing Base Reporting Trigger Period in the event that the conditions set forth in this definition again give rise to a Borrowing Base Reporting Trigger Period. For all purposes hereunder, a “Borrowing Base Reporting Trigger Period” shall be deemed to exist at all times during the Initial Trigger Period.