Cash Dominion Release Event definition

Cash Dominion Release Event means Excess Availability is at least the greater of (a) $100,000,000 and (b) 10% of the Line Cap for thirty (30) consecutive days and no Specified Event of Default is outstanding during such thirty (30) consecutive day period.
Sample 1Sample 2
Cash Dominion Release Event means that, and only as long as, each of the following have been satisfied: (i) average Excess Availability for the immediately preceding calendar quarter is greater than $27,000,000, and (ii) the Fixed Charge Coverage Ratio calculated as of the end of the immediately preceding fiscal quarter is at least equal to 1.10:1.00, and (iii) no Default or Event of Default then exists, and (iv) the Lead Borrower has notified the Administrative Agent in writing of its election to terminate the sweep of Cash Receipts as set forth in Section 2.22 hereof to the FRF Concentration Account, provided however, a Cash Dominion Release Event shall, at the Administrative Agent's option, be deemed not to exist (even if conditions set forth in clauses (i), (ii), (iii) and (iv) have been satisfied) if a Cash Dominion Release Event has occurred and thereafter has been discontinued due to the failure of the Borrowers to satisfy the conditions set forth in clauses (i), (ii), (iii) and (iv) above.
Sample 1
Cash Dominion Release Event means U.S. Excess Availability is at least the greater of (a) $35,000,000 and (b) 10% of the U.S. Line Cap for thirty (30) consecutive days and no Specified Event of Default is outstanding during such thirty (30) consecutive day period.
Sample 1

More Definitions of Cash Dominion Release Event

Cash Dominion Release Event means that Borrowers shall have maintained Adjusted Availability in an amount of not less than $25,000,000 for a period of thirty (30) consecutive days as evidenced by a Borrowing Base Certificate delivered to Agent; provided, however that no more than three (3) Cash Dominion Release Events may occur in any 365 day period.
Sample 1
Cash Dominion Release Event means either (a) if the Cash Dominion Event arises as a result of the occurrence of an Event of Default, such Event of Default shall have been waived, and/or (b) if the Cash Dominion Event arises as a result of Borrowers’ failure to maintain Adjusted Availability as required in clause (b) of the definition thereof, Borrowers shall have maintained Adjusted Availability in an amount of not less than twenty percent (20%) of the Borrowing Base for a period of thirty (30) consecutive calendar days, as evidenced by a Borrowing Base Certificate delivered to Agent; provided, however, that no more than two (2) Cash Dominion Release Events may occur in any 365 day period and no more than six (6) Cash Dominion Release Events may occur from and after the Effective Date.
Sample 1
Cash Dominion Release Event. Either (a) there are no Revolving Credit Loans outstanding and the Lender has agreed, in its sole discretion, that the most recent financial statements delivered by the Borrowers project that no Revolving Credit Loans will be outstanding for at least six (6) months thereafter, or (b) as of any date of determination, the Borrowers have maintained the aggregate of Excess Availability plus Qualified Cash and Cash Equivalents, if any, in an amount greater than $10,000,000.00 for thirty (30) consecutive days prior to any such date, provided that, in the case of clauses (a) and (b), no Default or Event of Default has occurred and is continuing. Notwithstanding the foregoing, the release of cash dominion under the foregoing circumstances shall not prejudice the Lender’s rights to reinstitute full cash dominion in accordance with the terms of Article 7: (as in effect on the Effective Date) if, at any time following the occurrence of a Cash Dominion Release Event, (a) a Default or Event of Default has thereafter occurred and is continuing, and/or (b) the Borrowers thereafter fail to maintain the aggregate of Excess Availability plus Qualified Cash and Cash Equivalents, if any, in an amount greater than $10,000,000.00 for five (5) consecutive Business Days, and/or (c) the Borrowers fail to maintain the aggregate of Excess Availability plus Qualified Cash and Cash Equivalents, if any, in an amount greater than $7,500,000.00 at any time. Once full cash dominion has been reinstated, a Cash Dominion Release Event thereafter may occur if, and only if, the Borrowers maintain the aggregate of Excess Availability plus Qualified Cash and Cash Equivalents, if any, in an amount equal to at least $10,000,000.00 for at least thirty (30) consecutive days.
Sample 1
Cash Dominion Release Event means either (a) if the Cash Dominion Event arises as a result of the occurrence of an Event of Default, such Event of Default shall have been waived, and/or (b) if the Cash Dominion Event arises as a result of Borrowers’ failure to maintain Adjusted Availability as required in clause (b) of the definition thereof, Borrowers shall have maintained Adjusted Availability in an amount of not less thanof at least twenty percent (20%) of the Borrowing BaseMaximum Revolver Amount for a period of thirty (30) consecutive calendar days, as evidenced by a Borrowing Base Certificate delivered to Agent; provided, however, that no more than two (2) Cash Dominion Release Events may occur in any 365 day period and no more than six (6) Cash Dominion Release Events may occur from and after the Effective Date.
Sample 1

Related to Cash Dominion Release Event

  • Cash Dominion Period means (a) each period beginning on a date when Total Excess Availability shall have been less than the greater of (i) 10% of the Line Cap and (ii) $20,000,000, in either case for five consecutive Business Days, and ending on such date as Total Excess Availability shall have been at least equal to the greater of (i) 10% of the Line Cap and (ii) $20,000,000 for a period of 30 consecutive calendar days or (b) upon the occurrence of an Event of Default, the period that such Event of Default shall be continuing.

  • Release Event has the meaning set forth in Section 6(b).

  • Cash Dominion Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrower at any time to maintain Availability of at least twelve and one-half percent (12.5%) of the Loan Cap. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrower’s failure to achieve Availability as required hereunder, until Availability has exceeded twelve and one-half percent (12.5%) of the Loan Cap for sixty (60) consecutive Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for sixty (60) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on three (3) occasion(s) after the Closing Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.

  • Dominion Period has the meaning given to such term in the Intercreditor Agreement.

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Change of Control Agreement means the Change of Control letter agreement between the Company and the Executive of even date herewith.

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.

  • Change in Control Agreement means any plan, program, agreement, or arrangement under which the Corporation or a Subsidiary agrees to provide benefits to the Optionee in the event he or she is terminated following a Change in Control, as applicable to the Optionee at the relevant time.

  • Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

  • Availability Termination Date means, as to any Borrower, the earlier of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, or (as the case may be) apply any value distributed on account of any commodity contract as directed by Agent, in each case, without the further consent of such Borrower or Guarantor and including such other terms and conditions as Agent may require.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Waiver Period ’ means, for each applicable fee, the period of time from the initial effective date of the MIAX Emerald Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior

  • Collateral Custodian Termination Notice has the meaning assigned to that term in Section 12.05.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Liquidity Termination Date means the earlier to occur of (a) July 13, 2009, as such date may be extended from time to time by the Lender’s Liquidity Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an Event of Bankruptcy with respect to the Lender.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary and the Administrative Agent, which agreement is in form and substance acceptable to the Administrative Agent and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.