Dominion Period has the meaning given to such term in the Intercreditor Agreement.
Dominion Period means any period (i) commencing on the date on which either (x) an Event of Default has occurred and is continuing or (y) the Excess Availability is less than or equal to the Dominion Threshold and (ii) ending on the first date thereafter on which (x) no Event of Default exists and (y) the Excess Availability has been greater than the Dominion Threshold at all times for 60 consecutive days.
Dominion Period means (a) any period during which any Event of Default has occurred and is continuing or (b) any period (i) commencing at any time when Availability shall be less than the Applicable Trigger Amount (Level I), and (ii) ending when Availability shall have been greater than the Applicable Trigger Amount (Level I) for a period of 30 consecutive days; provided that no more than two (2) Dominion Periods may end in any consecutive twelve (12) month period.
Examples of Dominion Period in a sentence
During a Cash Dominion Period, in the event and on each occasion that any Net Proceeds are received by or on behalf of any Loan Party in respect of any Prepayment Event, Borrowers shall, immediately after such Net Proceeds are received by any Loan Party, prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to 100% of such Net Proceeds to the extent that such Obligations are then outstanding.
More Definitions of Dominion Period
Dominion Period means any period of time beginning on a Dominion Event Date and continuing through a Dominion Termination Date, if any.
Dominion Period means each period commencing upon the occurrence of a Cash Dominion Trigger Event and ending on the first date thereafter on which (x) with respect to clause (i) of the definition of Cash Dominion Trigger Event, such Event of Default has been waived in writing or cured in accordance with the terms of this Agreement, and (y) with respect to clause (ii) of the definition of Cash Dominion Trigger Event, when Borrowers have Undrawn Availability, for thirty (30) consecutive days, equal to or exceeding twelve and one-half percent (12.5%) of the Maximum Revolving Advance Amount; provided that on and after the third (3rd) Cash Dominion Trigger Event, the Dominion Period shall continue for the remainder of the Term; provided further however, notwithstanding satisfaction of the conditions set forth in clauses (x) and (y) above, Borrower may elect to stay in such Dominion Period at any time at Borrowers’ request and may terminate such Dominion Period so long as the conditions set forth in clauses (x) and (y) are satisfied.
Dominion Period means any period commencing on the date (a) on which Excess Availability is less than (i) the greater of (A) 12.5% of Availability or (B) $40,000,000 or (b) after the occurrence of an Event of Default; provided, that, (1) to the extent that the Dominion Period has occurred due to clause (a) of this definition, if Excess Availability shall be equal to or greater than (x) 12.5% of Availability and (y) $40,000,000, for at least 45 consecutive days (provided that such 45-day requirement shall not apply if any Credit Party receives proceeds from any offering of Indebtedness or equity permitted hereunder and such proceeds are in an amount sufficient to cause compliance with clause (a) of this definition), the Dominion Period shall no longer be deemed to exist or be continuing until such time as Excess Availability may again be less than such amount, (ii) to the extent that the Dominion Period has occurred due to clause (b) of this definition, if such Event of Default is no longer continuing, and (iii) a Dominion Period may not be cured more than 3 times in any twelve consecutive calendar month period.
Dominion Period means any period (a) during which any Event of Default has occurred and is continuing or (b) during a Reduced Availability Period; provided that if all applicable circumstances described in clauses (a) and (b) shall cease to exist, the Borrower Representative may, not more than twice during each period of 12 consecutive months, request that the Administrative Agent discontinue the applicable Dominion Period, and the Administrative Agent will promptly comply with such request and will provide notification of such discontinuance to the Loan Parties’ credit card issuers and credit card processors.
Dominion Period means any period (a) commencing on the date on which (i) a Specified ABL Event of Default has occurred and is continuing or (ii) Excess Availability is less than the greater of (x) 10.0% of the Line Cap at such time or (y) $15,000,000 for a period of five (5) consecutive Business Days and (b) ending on the first date thereafter on which (i) no Specified ABL Event of Default exists and (ii) Excess Availability has been equal to or greater than the greater of (x) 10.0% of the Line Cap at such time or (y) $15,000,000 for 20 consecutive days.
Dominion Period means each period commencing upon the occurrence of a Dominion Event and ending on the first date thereafter on which either (a) if such Dominion Event was the occurrence of an Event of Default, such Event of Default has been waived in writing in accordance with the terms of this Agreement or (b) in all other cases, Borrowers’ average Excess Availability for sixty (60) consecutive days following the occurrence (or reoccurrence) of any event described in clauses (b) or (c) of the definition of Dominion Event, is greater than 17.5% of the Maximum Revolving Advance Amount.
Dominion Period means any period (a) during which any Event of Default has occurred and is continuing or (b) that constitutes a Minimum Availability Period; provided that if the circumstances described in clause (a) or (b), as applicable, shall occur and cease to exist twice during any calendar year, then any subsequent Dominion Period occurring during such calendar year shall continue through the end of such calendar year.