Cash Sweep Trigger Date definition

Cash Sweep Trigger Date means any date (a) on which an Event of Default occurs or (b) on which Excess Availability has been less than $30,000,000, as calculated by the Administrative Agent hereunder, for more than three (3) consecutive Business Days.
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Cash Sweep Trigger Date means the earlier to occur of (i) the last day of the Commitment Period (as defined in the Operating Agreement), and (ii) the first date on which the sum of the aggregate Eligible Included Unfunded Commitments of the Included Investors plus the aggregate Eligible Designated Unfunded Commitments of the Designated Investors is equal to or less than the Principal Obligation.September 19, 2017.
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Cash Sweep Trigger Date means September 19, 2017.
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More Definitions of Cash Sweep Trigger Date

Cash Sweep Trigger Date means any date (a) that the Borrowers fail to maintain Availability of not less than (i) $35,000,000 at all times during the months of January, February, March, April, May and June of each year, and (ii) $25,000,000 at all times during the months of July, August, September, October, November and December of each year, or (b) at the discretion of the Agent or at the direction of the Required Lenders, following the occurrence of any Event of Default. Notwithstanding the foregoing, no more frequently than two (2) times in any calendar year, no Cash Sweep Trigger Date shall be deemed to have occurred so long as within five (5) days from the occurrence of any Cash Sweep Trigger Date (a "Cure Period"), the Borrowers shall deliver evidence to the Agent and the Co-Agent, in form and substance satisfactory to the Agent and the Co-Agent, that Availability, as of the last day during the Cure Period is not less than (a) $35,000,000 if such days occur during the months of January, February, March, April, May and June and (b) $25,000,000 if such days occur during the months of July, August, September, October, November and December; provided, that no Default or Event of Default shall exist or be continuing on such date.
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Cash Sweep Trigger Date means any date (a) that the Borrowers fail to maintain Availability (without giving effect to the Xxxxxxx Obligation Reserve) of not less than (i) $35,000,000 at all times during the months of January, February, March, April, May and June of each year, and (ii) $25,000,000 at all times during the months of July, August, September, October, November and December of each year, or (b) at the discretion of the Agent or at the direction of the Required Lenders, following the occurrence of any Event of Default. Notwithstanding the foregoing, no more frequently than two (2) times in any calendar year, no Cash Sweep Trigger Date shall be deemed to have occurred so long as within five (5) days from the occurrence of any Cash Sweep Trigger Date (a "Cure Period"), the Borrowers shall deliver evidence to the Agent, in form and substance satisfactory to the Agent, that Availability (without giving effect to the Xxxxxxx Obligation Reserve), as of the last day during the Cure Period is not less than (a) $35,000,000 if such days occur during the months of January, February, March, April, May and June and (b) $25,000,000 if such days occur during the months of July, August, September, October, November and December; provided, that no Default or Event of Default shall exist or be continuing on such date.
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Related to Cash Sweep Trigger Date

  • 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.

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

  • 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.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

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

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

  • Flip-In 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 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.

  • 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.

  • 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.

  • 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.

  • 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%

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

  • 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.

  • 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”.

  • 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”.

  • 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.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Net Proceeds Offer Trigger Date has the meaning provided in Section 4.16.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

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

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • 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.

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless: