Covenant Release Event definition

Covenant Release Event means as of any date following the occurrence of a Covenant Trigger Event, the first date upon which both of the following conditions have been satisfied: (a) Availability has exceeded 20% of the aggregate Revolving Commitment then in effect for each day during the 90 consecutive calendar day period ending on such date after the immediately preceding Covenant Trigger Event and (b) at least 365 days have elapsed since the date of the last Covenant Release Event, if any.
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Covenant Release Event means, as of any date following the occurrence of a Covenant Trigger Event, the first date upon which both of the following conditions have been satisfied: (i) Availability has exceeded $50,000,000 for each day during the ninety (90) consecutive calendar day period ending on such date after the immediately preceding Covenant Trigger Event and (ii) at least 365 days have elapsed since the date of the last Covenant Release Event, if any.
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Covenant Release Event means as of any date following the occurrence of a Covenant Trigger Event, the first date upon which Availability has exceeded 10% of the Total Commitment then in effect for each day during the 30 consecutive calendar day period ending on such date after the immediately preceding Covenant Trigger Event.
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Related to Covenant Release Event

  • Release Event has the meaning set forth in Section 6(b).

  • Covenant Relief Period means the period commencing on the First Amendment Effective Date and ending on (and including) the date of delivery of the Compliance Certificate for the fiscal quarter ending March 31, 2024, if such Compliance Certificate demonstrates compliance with Section 7.07.”

  • Covenant Compliance Event means that Excess Availability at any time is less than ten (10%) percent of the Loan Cap (without giving effect to the Term Loan Reserve). For purposes hereof, the occurrence of a Covenant Compliance Event shall be deemed continuing until Excess Availability has exceeded the amount set forth above for thirty (30) consecutive days, in which case a Covenant Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Restriction Release Date means such date, after the Effective Date, that the Board of Directors determines in good faith that it is in the best interests of the Corporation and its stockholders for the transfer restrictions set forth in this Article 4 to terminate.

  • Waiver Period ’ means, for each applicable fee, the period of time from the initial effective date of the MIAX Emerald Fee Schedule until such time that the Exchange has an effective fee filing establishing the applicable fee. The Exchange will issue a Regulatory Circular announcing the establishment of an applicable fee that was subject to a Waiver Period at least fifteen (15) days prior

  • 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.

  • Covenant Testing Period means the period commencing on the last day of the fiscal month of Borrower most recently ended prior to the occurrence of a Fixed Charge Test Commencement Date for which month Borrowers have delivered to Agent monthly financial statements of Solutions and its Subsidiaries, and continuing until the Termination Date has occurred.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Covenant Suspension Event has the meaning set forth in Section 4.18.

  • Forbearance Termination Date means the earlier to occur of (i) the Applicable Termination Date and (ii) the date on which the forbearance effectuated by Section 3(b) of this Agreement shall cease due to the occurrence of any of the events described in Section 4 hereof.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • 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.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Non-Competition Period means the period the Executive is employed by the Company plus one (1) year from the Termination Date if the Executive's employment is terminated (i) by the Company for any reason, (ii) by the Executive for any reason, or (iii) by reason of either the Company's or the Executive's decision not to extend the term of this Agreement as contemplated by Section 1 hereof.

  • Release Expiration Date means the date that is twenty-one (21) days following the date upon which the Company timely delivers to Executive the Release (which shall occur no later than seven (7) days after the Date of Termination), or in the event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is forty-five (45) days following such delivery date.

  • Release Effective Date means the date the Release becomes effective and irrevocable.

  • Escrow Release Conditions has the meaning set forth in the Escrow Agreement.

  • Release of Claims means the Release of Claims in substantially the same form attached hereto as Exhibit B (as the same may be revised from time to time by the Company upon the advice of counsel).