Clean Down Period definition

Clean Down Period has the meaning set forth in Section 6.16.

Clean Down Period has the meaning given to it in Clause 11.15 (Clean Down).

Clean Down Period means a period of 30 consecutive days during which no more than $50,000,000 in aggregate principal amount of the sum of Revolving Loans and Swingline Loans is outstanding at any time during such period.

Examples of Clean Down Period in a sentence

• The Issuer shall, from 1 January 2020, procure that during each calendar year there shall be a period of five (5) consecutive days (the "Clean Down Period") during which the Clean Down Test is met.

• Such Further Capital Injection(s) shall be made within fifteen (15) Business Days from the end of the Failed Clean Down Period.

• A Further Capital Injection shall (although made during the half calendar year succeeding the Failed Clean Down Period) be deemed as a Clean Down in respect of the Failed Clean Down Period and shall, for the avoidance of doubt, not affect the Issuer’s obligation to make a Clean Down or receiving additional Further Capital Injections during the succeeding half calendar year.

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• The entire principal balance of the Revolving Loan constituting an Overadvance and all accrued interest and fees on or relating to such Revolving Loan shall be repaid in full in cash on the Business Day immediately preceding the first day of each Overadvance Clean Down Period.

More Definitions of Clean Down Period

Clean Down Period means each period from and including the first day of the fourth Fiscal Quarter of each Fiscal Year to and including the last day of such Fiscal Quarter.

Clean Down Period means each period which begins on December 26 of a calendar year and ends on February 26 of the immediately succeeding calendar year.

Clean Down Period means any 30-day period of each one year period commencing on the Closing Date, or fraction thereof, provided that no such period shall commence sooner than 30 days after the first Borrowing or later than 30 days prior to the Revolving Credit Termination Date, during which the aggregate outstanding principal amount of Revolving Loans must be reduced to $0.

Clean Down Period has the meaning assigned such term in Section 8.17.

Clean Down Period means a period of thirty (30) consecutive days at any time during the period from December 28th of each calendar year through January 31st of the immediately following calendar year.

Clean Down Period has the meaning given that term in the ETP Credit Agreement.

Clean Down Period means, for each fiscal year of the Borrower, the 30 consecutive calendar day period designated by the Borrower for such fiscal year, falling within the 90 day period commencing on July 1 of that year and ending on September 30 of that year.