Cash Dominion Triggering Event definition

Cash Dominion Triggering Event means (a) an Event of Default has occurred and is continuing, (b) one or more of the Borrowers have failed to comply in any material respect with cash management provisions relating to cash dominion, or (c) Availability is less than the greater of (x) 12.5% of the Available Credit and (y) $25,000,000 for 3 consecutive Business Days.

Cash Dominion Triggering Event means (a) an Event of Default has occurred and is continuing, (b) one or more of Borrowers have failed to comply in any material respect with cash management provisions relating to cash dominion, or (c) Availability is less than the greater of (x) 12.5% of the Available Credit and (y) $60,000,000 for 3 consecutive Business Days.

Cash Dominion Triggering Event shall occur at any time that (a) Availability is less than $3,000,000 for five (5) consecutive Business Days or (b) an Event of Default shall have occurred and be continuing. Once occurred, a Cash Dominion Triggering Event described in clause (a) shall be deemed to be continuing until such time as the Availability is at least equal to $3,000,000 for fifteen (15) consecutive Business Days, and a Cash Dominion Triggering Event described in clause (b) shall be deemed to be continuing until no Event of Default shall be continuing.

Examples of Cash Dominion Triggering Event in a sentence

• In the event that Agent issues an Activation Notice, Agent agrees to rescind such Activation Notice at such time that no Cash Dominion Period shall exist (it being understood that, notwithstanding any such rescission, Agent shall have the right and is authorized to issue an additional Activation Notice if a subsequent Cash Dominion Triggering Event shall have occurred or a Cash Dominion Period shall exist at any time thereafter).

• Prior to the occurrence of a Cash Dominion Triggering Event, the Loan Parties shall retain the right to direct the disposition of funds in the Blocked Accounts.

• Prior to the occurrence of a Cash Dominion Triggering Event, the Loan Parties shall retain the right to direct the disposition of funds in the Blocked Accounts and Agent shall not deliver an Activation Notice.

• All deposits to the Lock Box and the Collection Account will be Lender’s property to be applied, following a Cash Dominion Triggering Event, against the Obligations in such order and method of application as may be elected by Lender in its discretion exercised in good faith and will be subject only to the signing authority designated from time to time by Lender, and Borrowers shall have no interest therein or control over such deposits or funds.

• Upon the occurrence of a Cash Dominion Triggering Event, each Borrower shall deliver to Agent, or deposit in the Blocked Account, in original form and on the date of receipt thereof, all checks, drafts, notes, money orders, acceptances, cash and other evidences of Indebtedness.

More Definitions of Cash Dominion Triggering Event

Cash Dominion Triggering Event means any of the following: (a) a Cash Dominion Liquidity Triggering Event has occurred or (b) an Event of Default has occurred and is continuing.

Cash Dominion Triggering Event means any of the following events:

Cash Dominion Triggering Event means (a) the occurrence of an Event of Default that is continuing, or (b) that Undrawn Availability is less than or equal to $5,000,000 on any Business Day.

Cash Dominion Triggering Event has the meaning given in Section 2.4(b).

Cash Dominion Triggering Event means any of the following: (a) Undrawn Availability is less than the greater of (i) twelve and one half of one percent (12.5%) of the Line Cap and (ii) ten percent (10%) of the Maximum Revolving Advance Amount for three (3) consecutive Business Days, or (b) a Specified Event of Default has occurred and is continuing.

Cash Dominion Triggering Event means the occurrence of any of the following (i) an Event of Default, or (ii) Availability is less than $20,000,000.

Cash Dominion Triggering Event means the sum of the Borrowers' Undrawn Availability and Suppressed Availability is less than One Hundred Seventy-Five Million and 00/100 Dollars ($175,000,000.00) at which time the Borrowers shall comply with the terms of Section 4.15(d) and (h).