Commencing on the Closing Date until the Cash Flow Trigger Date, permit Liquidity at any time and tested quarterly, to be less than Forty Million Dollars ($40,000,000).
ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.
Excess Cash Flow Application Date as defined in Section 2.12(c).
Excess Cash Flow Period means each fiscal year of the Borrower commencing with and including the fiscal year ending December 31, 2018.
Excess Cash Flow Payment Date means the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending September 30, 2006).
Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.
Excess Cash Flow Payment Period with respect to the prepayment required on each Excess Cash Flow Application Date, the immediately preceding fiscal year of the Borrower.
Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.
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.
Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.
Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.
Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.
Excess Cash Flow means, for any period, an amount equal to the excess of:
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.
Rating period means the calendar period for which premium rates established by a small employer carrier are assumed to be in effect.
Trigger Event shall have the meaning specified in Section 14.04(c).