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Credit Party Liquidity definition

Credit Party Liquidity means, at any time, the sum of (a) Credit Party Unrestricted Cash plus (b) the Revolving Loan Availability.
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Credit Party Liquidity means, as of any date of determination, the sum of the Revolving Loan Availability plus the aggregate cash and cash equivalents held by the Credit Parties (taken as a whole) in one or more Deposit Accounts or Securities Accounts, each of which shall be held in the name of a Borrower or Parent in a bank or financial institution located in the United States and subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent.
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Credit Party Liquidity means, at any time, the sum of (a) Credit Party Unrestricted Cash plus (b) the Revolving Loan Availability; provided that solely for purposes of calculating the Minimum Liquidity Covenant as of any date of determination, Revolving Loan Availability shall be calculated without giving effect to any Availability Reserve in effect at such time.
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Examples of Credit Party Liquidity in a sentence

  • Credit Parties shall not permit, at any time following the Closing Date, Credit Party Liquidity to be less than fifty percent (50%) of Consolidated Liquidity.

  • Commencing on the Closing Date and at all times thereafter until the month following a Fixed Charge Election (if any), Borrower shall not permit the Credit Party Liquidity as of such date to be less than $5,000,000 (the covenant set forth in this Section 6.1, the “Minimum Liquidity Covenant”).

  • However, some railroads may not include in their documentation some of the particular data items specified in the proposal.

  • Commencing on the Closing Date and at all times thereafter prior to Agent’s receipt of a Minimum Availability Covenant Election Notice, Borrowers shall not permit the Credit Party Liquidity at any time to be less than (a) during the period commencing on February 1st through and including May 31st of each calendar year, $12,500,000 and (b) at all other times, $15,000,000 (the covenant set forth in this Section 6.1, the “Minimum Liquidity Covenant”).

  • Commencing on October 31, 2018 and at the end of each calendar month thereafter until the month following a Fixed Charge Election (if any), Borrower shall not permit the Credit Party Liquidity as of such date to be less than the Three-Month Cash Burn Amount for the trailing three month period ending on the last day of the applicable calendar month (the covenant set forth in this Section 6.1, the “Minimum Liquidity Covenant”).

  • Credit Parties shall not permit, at any time following the Original Closing Date, Credit Party Liquidity to be less than fifty percent (50%) of Consolidated Liquidity.


More Definitions of Credit Party Liquidity

Credit Party Liquidity has the meaning set forth in Section 6.1.
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Related to Credit Party Liquidity

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • Credit Parties means the Borrower and the Guarantors.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Canadian Credit Party means Borrower and each other Credit Party that (i) is organized under the laws of Canada or any province or territory thereof, (ii) carries on business in Canada, or (iii) has any title or interest in or to material property in Canada.

  • Loan Parties means, collectively, the Borrower and each Guarantor.

  • Parent Borrower as defined in the preamble hereto.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Borrower Group means the Borrower and each of its Subsidiaries.

  • Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Loan Party means any Borrower or any Guarantor.

  • Foreign Credit Party means a Credit Party which is not a Domestic Credit Party.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • Domestic Borrower means the Company and each Designated Borrower that is a Domestic Subsidiary.

  • Credit Party Obligations means, without duplication, (a) all of the obligations of the Credit Parties to the Lenders (including the Issuing Lender) and the Administrative Agent, whenever arising, under this Credit Agreement, the Notes, or any of the other Credit Documents to which any Credit Party is a party and (b) all liabilities and obligations owing from such Credit Party to any Lender, or any Affiliate of a Lender, arising under Hedging Agreements.

  • Domestic Loan Parties means, collectively, the Domestic Borrowers and each Subsidiary of the Lead Borrower that is or becomes a guarantor of the Obligations. “Domestic Loan Party” means any one of such Persons.

  • Borrower as defined in the preamble hereto.

  • Lead Borrower has the meaning assigned to such term in the preamble of this Agreement.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Non-Loan Party means any Subsidiary of the Borrower that is not a Loan Party.

  • Non-Credit Party means any Subsidiary of the Borrower that is not a Credit Party.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

Most Referenced Clauses

Most Referenced Definitions