Collateral Trigger Date definition

Collateral Trigger Date means any date after the Original Effective Date on which all of the following events shall have occurred: (a) Xxxxx’x has issued and maintained a rating for the Index Debt of Ba1 or lower (or changes its outlook to negative) or has ceased to issue a rating for the Index Debt and (b) S&P has issued and maintained a rating for the Index Debt of BB+ or lower (or changes its outlook to negative) or has ceased to issue a rating for the Index Debt.

Collateral Trigger Date means (a) any date after the Covenant Relief Pledged Collateral Release Date on which the Borrower delivers a Compliance Certificate pursuant to Section 9.3 which shows that the Leverage Ratio is greater than 6.50 to 1.00 as of the end of any two consecutive fiscal quarters of the Parent Guarantor or (b) such later date as the Administrative Agent shall reasonably determine.

Collateral Trigger Date means the first date after any Collateral Release Date (if any) on which the Ratings Threshold is no longer satisfied.

Examples of Collateral Trigger Date in a sentence

• For the avoidance of doubt, to the extent that any voluntary or mandatory prepayment has the effect of reducing the Leverage Ratio to or below 6.50 to 1.00 on a pro forma basis, the mandatory prepayment provisions applicable following a Collateral Trigger Date shall terminate (the earlier of such date and the Collateral Release Date, the “Prepayment Provisions Termination Date”).

• On or after any Collateral Release Date, and so long as no Default or Event of Default is then continuing and no subsequent Collateral Trigger Date has occurred, the Administrative Agent shall, subject to the satisfaction of the requirements of Section 8.15.(b), promptly release all of (i) the Liens granted to the Administrative Agent pursuant to the requirements of Section 8.14.

• At any time subsequent to the Additional Collateral Trigger Date that Borrower acquires Property, Borrower shall comply with all the requirements of Section 5.1.23.2 and this Section 7.1.14 as if such Property had been acquired prior to the Additional Collateral Trigger Date.

• Following the occurrence of any Collateral Release Date, the occurrence of a Collateral Trigger Date.

• Upon the occurrence of a Collateral Trigger Date, the Credit Documents shall be amended to incorporate and reference the Subsidiary Credit Parties throughout the Credit Documents, including the covenants, in each place where the Senior Credit Agreements as of the date hereof references the Borrowers, Subsidiary Credit Parties or Credit Parties, as applicable, and the Company and each of the Lenders hereby authorizes and directs the Agent on its behalf to enter into such amendment.

More Definitions of Collateral Trigger Date

Collateral Trigger Date means any date after the Original Effective Date on which all of the following events shall have occurred: (a) Moody’s has issued and maintained a rating for the Index Debt of Ba1 or lower (or changes its outlook to negative) or has ceased to issue a rating for the Index Debt and (b) S&P has issued and maintained a rating for the Index Debt of BB+ or lower (or changes its outlook to negative) or has ceased to issue a rating for the Index Debt.

Collateral Trigger Date means the date that is 30 days after the Higher Covenant Notice Date (or such later date as may be reasonably agreed by the Administrative Agent).

Collateral Trigger Date means the first date after any Collateral Trigger Termination Date on which either (a) the Corporate Rating is Ba3 or lower (or unrated) by Xxxxx’x or BB- or lower (or unrated) by S&P or (b) the Borrower elects under Section 2.10(h)(i) to have a Borrowing Base apply.

Collateral Trigger Date means any date during the Waiver Period, on which (a) the Liquidity of the Consolidated Parties does not exceed $300,000,000 (the “Limited Collateral Trigger Event”), (b) the Liquidity of the Consolidated Parties does not exceed $250,000,000, or (c) the Total Revolving Credit Outstandings (under and as defined in the Bank of America Facility) exceed $400,000,000 at any time on or after the fourth (4th) Business Day following the First Amendment Effective Date.

Collateral Trigger Date means any date during the Waiver Period, on which (a) the Liquidity of the Consolidated Parties does not exceed $300,000,000400,000,000 after the Third Amendment Effective Date (the “First Limited Collateral Trigger Event”), (b) the Liquidity of the Consolidated Parties does not exceed $300,000,000 after the First Amendment Effective Date (the “Second Limited Collateral Trigger Event”), (c) the Liquidity of the Consolidated Parties does not exceed $250,000,000 after the First Amendment Effective Date, or (cd) the Total Revolving Credit Outstandings (under and as defined in the Bank of America Facility) exceed $400,000,000 at any time on or after the fourth (4th) Business Day following the First Amendment Effective Date.

Collateral Trigger Date means (a) any date after the Closing Date on which the Borrower Representative delivers a Compliance Certificate pursuant to Section 9.3. which shows that the Leverage Ratio is greater than 6.50 to 1.00 as of the end of the two consecutive fiscal quarters of the Parent most recently ended prior to such date or (b) such later date as the Administrative Agent shall reasonably determine; provided that, following any Collateral Release Date, any subsequent Collateral Trigger Date shall be (x) any date on which the Borrower Representative delivers a Compliance Certificate pursuant to Section 9.3. which shows that the Leverage Ratio is greater than 6.50 to 1.00 as of the end of the fiscal quarter of the Company most recently ended prior to such date or (y) such later date as the Administrative Agent shall reasonably determine.

Collateral Trigger Date means any date during the Waiver Period, on which (a) the Liquidity of the Consolidated Parties does not exceed $400,000,000 after the Fourth Amendment Effective Date (the “First Limited Collateral Trigger Event”), (b) the Liquidity of the Consolidated Parties does not exceed $300,000,000 after the Second Amendment Effective Date (the “Second Limited Collateral Trigger Event”), (c) the Liquidity of the Consolidated Parties does not exceed $250,000,000 after the Second Amendment Effective Date, or (d) the Total Revolving Credit Outstandings exceed $400,000,000 at any time on or after the fourth (4th) Business Day following the Second Amendment Effective Date.