Covenant Recovery Event definition

Covenant Recovery Event means Availability is at least the greater of (i) $10,000,000 and (ii) 10% of the Loan Cap for thirty (30) consecutive days and no Default is outstanding during such thirty (30) day period.
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Covenant Recovery Event means, with respect to any Covenant Trigger Event at any time (a) no Default or Event of Default shall be outstanding and (b) Excess Availability shall be at least ten percent (10%) of the Total Commitment for a period of thirty (30) consecutive days then ended.
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Covenant Recovery Event means, with respect to any Covenant Trigger Event at any time (a) no Default or Event of Default shall have been outstanding for a period of thirty (30) consecutive days then ended and (b) Excess Availability shall be at least the greater of (i) $90,000,000 (or, on and after the Specified Incremental Commitment Availability Date, $115,000,000) and (ii) 10% of the lesser of (A) the Total Revolving Commitment and (B) the then-applicable Total Borrowing Base, for a period of thirty (30) consecutive days then ended.
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More Definitions of Covenant Recovery Event

Covenant Recovery Event means Availability is at least the greater of (a) $20,000,00035,000,000 and (b) 10% of the Line Cap for 30 consecutive days and no Event of Default is outstanding during such 30 day period.
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Covenant Recovery Event means, with respect to any Covenant Trigger Event at any time (a) no Default or Event of Default shall have been outstanding for a period of thirty (30) 1160299.01-CHISR1160299.03H-CHISR02A - MSW consecutive days then ended and (b) Excess Availability shall be at least the greater of (i) $90,000,000 (or, on and after the Specified Incremental Commitment Availability Date, $115,000,000) and (ii) 10% of the lesser of (A) the Total Revolving Commitment and (B) the then-applicable Total Borrowing Base, for a period of thirty (30) consecutive days then ended.
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Covenant Recovery Event means Availability is at least the greater of (a) $20,000,000 and (b) 10% of the Line Cap for 30 consecutive days and no Event of Default is outstanding during such 30 day period.
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Covenant Recovery Event in Section 1.01 is amended by deleting “$110,000,000” and replacing it with “$90,000,000”, and (ii) deleting “12.5%” and replacing it with “10%”.
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Related to Covenant Recovery Event

  • Casualty Event means any event that gives rise to the receipt by the Company or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property.

  • Condemnation Event means any act of taking by a public or quasi-public authority through condemnation, reverse condemnation or eminent domain.

  • 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.