Cash Dominion Trigger definition

Cash Dominion Trigger means any of the following: (x) the occurrence on any day of any Event of Default, or (z) at the close of business on any applicable Business Day, Borrowers shall have had Undrawn Availability in an amount less than the amount that is fifteen percent (15%) of Maximum Revolving Advance Amount at the close of business on five (5) consecutive Business Days.
Sample 1Sample 2
Cash Dominion Trigger means Borrowing Availability is at any time less than $10,000,000.
Sample 1
Cash Dominion Trigger means (a) any time an Event of Default has occurred and is continuing or (b) for the period from the Closing Date until the date that occurs 90 days after the Closing Date, if at any time Availability shall be less than $5,000,0000 or (c) thereafter, any time that (i) Availability shall be less than $5,000,000 or (ii) average daily Availability for any period of ten (10) consecutive Business Days shall be less than $10,000,000; provided that each Cash Dominion Trigger shall continue to be effective for all purposes under this Agreement until either (1) waived in writing by the Administrative Agent or (2) the average daily Availability shall be greater than $25,000,000 for a period of 90 consecutive days; and provided further that for the purposes of determining the applicability of the minimum Consolidated EBITDA covenant in Section 7.10(a), the $10,000,000 figure set forth above in this definition shall be deemed to be $15,000,000.
Sample 1

Examples of Cash Dominion Trigger in a sentence

  • After the occurrence and during the continuance of a Cash Dominion Trigger Event, the Administrative Agent may (and, at the request of the Required Lenders, shall) deliver each such DDA Notification and Credit Card Notification to the applicable depository institution and credit card processor.

  • Each DDA Notification and Credit Card Notification shall be held by the Administrative Agent until the occurrence of a Cash Dominion Trigger Event.

  • The ledger balance in the main Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day, during any Cash Dominion Trigger Period.

  • Agent agrees to use commercially reasonable efforts to rescind an Activation Instruction (the “Rescission”) if (x) a Cash Dominion Trigger Period during which such Activation Instruction was issued is no longer in effect, and (y) no other Cash Dominion Trigger Period has commenced and is continuing prior to the date of the Rescission or is reasonably expected to occur on or immediately after the date of the Rescission.

  • If a Dominion Account is not maintained with Bank of America, Agent may, during any Cash Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America.

  • Borrowers shall obtain an agreement (in form and substance reasonably satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during any Cash Dominion Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving or subordinating offset rights of such servicer or bank, except for customary administrative charges.

  • If a Dominion Account is not maintained with Bank of America, the Administrative Agent may, during any Cash Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America.

  • Agent agrees not to issue an Activation Instruction with respect to the Controlled Deposit Accounts except during a Cash Dominion Trigger Period.

  • The ledger balance in the main Dominion Account of each applicable Borrower as of the end of a Business Day shall be applied to the Loan Party Group Obligations of such Borrower at the beginning of the next Business Day during any Cash Dominion Trigger Period.

  • If a Dominion Account is not maintained with Bank of America, Agent may, during any Cash Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America, provided, however, that Borrowers may maintain a balance of no more than $500,000 at any time in its master disbursement account.


More Definitions of Cash Dominion Trigger

Cash Dominion Trigger means any of the following: (x) Availability for three (3) consecutive Business Days shall have been less than the greater of (i) 12.5% of the Line Cap as in effect on each applicable Business Day and (ii) $6,250,000 or
Sample 1
Cash Dominion Trigger means (a) the occurrence of a Servicer Default, (b) the ABL Lenders (or any of them) shall exercise full dominion or control under any deposit account control agreement (or similar agreement) concerning any deposit account of Client or its affiliates party to the ABL Loan Documents, or (c) the total combined amount available for borrowing by US Parent and Canadian Parent under the ABL Loan Documents is at any time less than CN$8,200,000.
Sample 1
Cash Dominion Trigger means either (x) the occurrence on any day of any Event of Default or (y) Excess Availability as of any date shall be less than the greater of (x) 12.5% of the Formula Amount as in effect on such date, and (y) $3,500,000.
Sample 1
Cash Dominion Trigger means any of the following: (x) the occurrence on any day of any Event of Default, or (z) at the close of business on any applicable Business Day, Borrowers shall have had Undrawn Availability in an amount less than the amount that is fifteen percent (15%) of Maximum Revolving Advance Amount at the close of business on five (5) consecutive Business Days. “Cash Dominion Suspension Date” shall mean, as to any Cash Dominion Period, the first day following the date of the occurrence of any Cash Dominion Trigger on which all of the following conditions (the “Cash Dominion Suspension Conditions”) have been satisfied: (x) no Event of Default shall have occurred and be outstanding, and (y) at the close of business on any applicable Business Day, Borrowers shall have had Undrawn Availability in an amount equal to or greater than the amount that is fifteen percent (15%) of Maximum Revolving Advance Amount at the close of business on 30 consecutive days; provided that, no more than two (2) Cash Dominion Suspension Dates terminating associated Cash Dominion Periods may occur during any rolling period of 12 consecutive months (and, for the avoidance of doubt, in the event that any Cash Dominion Suspension Date is prevented from occurring when it otherwise would occur under this definition solely due to the foregoing provisions of this proviso, then such Cash Dominion Suspension Date shall be deferred to and shall occur on the next date thereafter when all the Cash Dominion Suspension Conditions under this definition have been satisfied and the occurrence of such Cash Dominion Suspension Date would not violate the provisions of this proviso). “Cash Equivalents” shall mean (a) marketable direct obligations or securities issued by, or fully guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition thereof, (b) marketable direct obligations issued or fully guaranteed by any state of the United States or any political subdivision of any such state or any public instrumentality thereof in each case maturing within one year from the date of acquisition thereof and, at the 7 074658.21069/130240014v.3
Sample 1
Cash Dominion Trigger means the date, if any, upon which --------------------- Availability is less than $50,000,000 at any time.
Sample 1

Related to Cash Dominion Trigger

  • Cash Dominion Trigger Period means the period commencing on the occurrence of a Cash Dominion Trigger Event, and continuing until the date that (a) no Event of Default shall be continuing and (b) Excess Availability is greater than or equal to the greater of (i) 15.0% of the Line Cap and (ii) $6,250,000, in each case, for a period of at least three (3) consecutive Business Days.

  • Cash Dominion Period means the period commencing after the occurrence of a Cash Dominion Event and continuing until the date when (A) no Event of Default shall exist and be continuing, and (B) Excess Availability is greater than the greater of (x) 12.5% of the Line Cap, and (y) $25,000,000 for 30 consecutive days.

  • Cash Dominion Event means any of the following: (i) the occurrence and continuance of an Event of Default under clause (a), (f) or (g) of Section 8.01; (ii) the occurrence and continuance of an Event of Default under clause (b)(i)(B) or (e) of Section 8.01; (iii) the occurrence and continuance of an Event of Default under subclause (ii) of clause (c) of Section 8.01; (iv) the occurrence and continuance of an Event of Default under subclause (i) of clause (c) of Section 8.01 (to the extent such Event of Default results from a failure to comply with Section 6.01(i) or 6.01(ii)); or (v) the failure of the Loan Parties to maintain, for four consecutive Business Days, Excess Availability of at least $7,500,000. For purposes of this Agreement, the occurrence of any particular Cash Dominion Event shall be deemed continuing (a) if such Cash Dominion Event arises under clause (i) above, from the date of the occurrence of such Event of Default and for so long as such Event of Default is continuing and has not been cured or waived, (b) if such Cash Dominion Event arises under clause (ii), (iii) or (iv) above, from the date of the delivery by the Administrative Agent of a notice to the Lead Borrower of its intent to initiate a Cash Dominion Event based on such Event of Default and for so long as such Event of Default is continuing and has not been cured or waived and/or (c) if such Cash Dominion Event arises under clause (v) above, until Excess Availability is equal to or greater than $7,500,000 for 30 consecutive calendar days, in which case such Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

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

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (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) $20,000,000.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Trigger Period means the period commencing on the first public announcement by the Issuer of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control; provided, that if the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies, such 60-day period shall be extended until the first to occur of (x) the date that such Rating Agency announces the results of its review and (y) the date that is 180 days after consummation of the Change of Control.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • 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.

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

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • 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.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

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