Compliance Triggering Event definition

Compliance Triggering Event means the occurrence of any event or events or the existence of any circumstance or circumstances that cause the following amount (such amount, the “Compliance Triggering Event Amount”) to be less than the U.S. Dollar Equivalent of Thirty Million Dollars ($30,000,000): the sum of (a) the amount, as determined by Lender, as of any time, equal to: (i) the Borrowing Base, plus (ii) Borrowers’ unrestricted cash and/or Cash Equivalents that are on deposit in a securities or deposit account subject to a control agreement, in form and substance satisfactory to Lender, minus (iii) the amount of all then outstanding and unpaid Obligations, plus (b) the amount, as determined by Canadian Lender, as of any time, equal to: (i) the Canadian Borrowing Base, plus (ii) Canadian Borrowers’ unrestricted cash and/or Cash Equivalents (as defined in the Canadian Agreement) that are on deposit in a securities or deposit account subject to a control agreement, in form and substance satisfactory to Canadian Lender, minus (iii) the amount of all then outstanding and unpaid Canadian Obligations.”
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Compliance Triggering Event means the occurrence of any event or events or the existence of any circumstance or circumstances that cause the U.S. Compliance Excess Availability to be less than Twenty Million Dollars ($20,000,000).
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Compliance Triggering Event means the occurrence of any event or events or the existence of any circumstance or circumstances that cause the sum of (i) the Compliance Excess Availability under this Agreement, plus (ii) the amount, converted to Dollars, resulting from the corresponding calculation under the Canadian Facility to be less than Twenty Million Dollars ($20,000,000).
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Examples of Compliance Triggering Event in a sentence

  • Payments on Obligations shall be made by Borrowers' remitting funds to the Lender Payment Account or, at any time when an Event of Default or Availability Compliance Period (related to a Compliance Triggering Event) exists by payments and proceeds of Collateral being directly remitted to the Lender Payment Account as provided in Section 6.3 or such other place as Lender may designate from time to time.

  • Prior to the occurrence of a Compliance Triggering Event or Event of Default, Borrowers shall retain control of their cash, including payments and proceeds of Collateral.

  • Provided no Event of Default or Availability Compliance Period (related to a Compliance Triggering Event) exists, Borrowers may instruct Lender to remit such funds to Borrowers.

  • Payments on Obligations shall be made by Borrowers’ remitting funds to the Lender Payment Account or, upon the occurrence of an Event of Default or a Compliance Triggering Event (prior to the occurrence of a Compliance Reinstatement Date related thereto, if any), by payments and proceeds of Collateral being directly remitted to the Lender Payment Account as provided in Section 6.3 or such other place as Lender may designate from time to time.

  • Provided no Event of Default or Compliance Triggering Event has occurred, Borrowers may instruct Lender to remit such funds to Borrowers.

  • In the event that at any time or from time to time upon or after an Event of Default or a Compliance Triggering Event (and prior to the occurrence of a Compliance Reinstatement Date related thereto, if any) there are no Loans outstanding, Lender shall be entitled to an administrative charge in an amount equivalent to the interest Lender would have received for such Business Day had there been Loans outstanding on such day.

  • In the event that at any time or from time to time upon or after Event of Default or during any Availability Compliance Period (related to a Compliance Triggering Event) there are no Loans outstanding, Lender shall be entitled to an administrative charge in an amount equivalent to the interest Lender would have received for such Business Day had there been Loans outstanding on such day.

  • Landlord shall be responsible for the Project's compliance with any modifications, revisions or changes in such laws which are effective after the Commencement Date provided that the necessity for complying with such laws is a result of a "Compliance Triggering Event" (as hereinafter defined).

  • Provided no Event of Default or Availability Compliance Period (related to a Compliance Triggering Event) exists, Borrower may instruct Lender to remit such funds to Borrower.


More Definitions of Compliance Triggering Event

Compliance Triggering Event means any of the following (a) receipt by Landlord, Tenant or any tenant of a notice from any governments agency or authority (federal, state or local) requiring that the Project of any portion thereof comply with the ADA Xxxx, (x) the making, filing or threatening to make or file a claim of action arising, in whole or in part, out of alleged non-compliance of the Project, or any portion thereof, with the ADA Xxxx, (x) the non-compliance of the Project or any portion thereof with the ADA Xxxx xxxsing a default under any loan secured by the Project, or (d) any actions of Landlord, Tenant or any tenant with respect to the Property that cause any of the foregoing to occur.
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Compliance Triggering Event means the occurrence of any event or events or the existence of any circumstance or circumstances that cause the Compliance Excess Availability under this Agreement to be less than $15,000,000; provided, however, if at any time the Compliance Excess Availability is less than $15,000,000 all of the following conditions are, and continue to be, met, a Compliance Triggering Event shall not be deemed to have occurred: (a) the outstanding balance of the Revolving Loans is $10,000,000 or less, (b) the Borrowers have $50,000,000 or more in Qualified Cash, as determined by Agent, and (c) the Compliance Excess Availability is equal to at least $10,000,000.
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Related to Compliance Triggering Event

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

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

  • 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%.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • 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.

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).

  • Triggering Events means Triggering Event I, Triggering Event II and Triggering Event III, collectively.

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

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

  • Notice-triggering PI means the PI identified in CCC § 1798.29(e) whose 25 unauthorized access may trigger notification requirements under CCC § 1709.29. For purposes of this 26 provision, identity shall include, but not be limited to, name, identifying number, symbol, or other 27 identifying particular assigned to the individual, such as a finger or voice print, a photograph or a 28 biometric identifier. Notice-triggering PI includes PI in electronic, paper or any other medium.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

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

  • 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 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.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Public event means any event that can be attended by the

  • 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.

  • Training Event means either a Course or Online Training, or both.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Mandatory Trigger Provision means, as to any Qualifying Capital Securities, provisions in the terms thereof or of the related transaction agreements that:

  • Significant Event means any Amortization Event or Event of Default.

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

  • Company Termination Event has the meaning set forth in Section 10 hereof.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Put Event means the occurrence of: