Dominion Trigger Period definition
Dominion Trigger Period means the period commencing upon (i) the occurrence and continuance of an Event of Default or (ii) the date that is the third consecutive Business Day on which Borrowers’ Undrawn Availability is less than $15,000,000 at any time and ending on the first date thereafter upon which (x) with respect to clause (i), 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), when Borrowers have Undrawn Availability, for thirty (30) consecutive days, equal to or exceeding $15,000,000.
Dominion Trigger Period means the period beginning on the date of the occurrence of a Dominion Trigger Event and ending on the date of the occurrence of the Dominion Release Event.
Dominion Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Availability is less than the greater of (x) 12.5% of the aggregate Borrowing Base and (y) $12,500,000; and (b) continuing until, during each of the preceding 30 consecutive days, no Default or Event of Default has existed and Availability has been greater than the greater of (x) 12.5% of the aggregate Borrowing Base and (y) $12,500,000 at all times. EBITDA: at any date of determination, an amount equal to Consolidated Net Income (including income recognized from deferred revenues and payments made by licensees) of the Parent and its Subsidiaries on a consolidated basis for the most recently completed four fiscal quarter period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges, (ii) federal, state, provincial, local and foreign income Taxes paid in cash, (iii) depreciation and amortization expense, (iv) charges arising from the impairment of goodwill or any other assets, (v) any non-cash charges or expenses resulting from stock compensation, including, without limitation, any currently outstanding stock options or any future grant, exercise or cancellation of stock options, shares of restricted stock or warrants, (vi) customary fees, costs and expenses incurred in connection with any equity or debt offering, Investments or Indebtedness permitted by this Agreement or in connection with the consummation of Permitted Acquisitions or Permitted Asset Dispositions, (vii) restructuring charges or reserves (including, without limitation, non-cash retention, severance, systems establishment costs, accelerated pension charges, contract termination costs including future lease commitments, and costs to consolidate facilities and relocate employees) in an aggregate amount not to exceed $50,000,000 from the Closing Date through the Revolver Termination Date, (viii) restructuring charges, reserves, severance and other transformational charges and other unusual or non-recurring expenses in an aggregate amount not to exceed $12,000,000 for such four fiscal quarter period and (ix) without duplication, other non-recurring expenses (excluding losses generated from barter transactions) reducing such Consolidated Net Income which do not represent a cash item in such period or any future period (in each case of or by Parent and its Subsidiaries for such four fiscal quarter period) and minus (b) the following to the extent included i...
Examples of Dominion Trigger Period in a sentence
The ledger balance in the main Dominion Account as of the end of a Business Day shall be applied to the applicable Obligations (other than the Secured Bank Product Obligations) at the beginning of the next Business Day (with respect to the Obligations of US Borrowers during any Dominion Trigger Period).
If a Dominion Account is not maintained with Bank of America, Agent may (during any Dominion Trigger Period with respect to the Dominion Accounts of US Incorporated Obligors) require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America.
Each US Incorporated Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request of Agent during any Dominion Trigger Period, all balances in any Deposit Account, other than Trust Accounts, maintained for or by such US Incorporated Obligor, without inquiry into the authority or right of Agent to make such request.
More Definitions of Dominion Trigger Period
Dominion Trigger Period the period (a) commencing on the day that (i) an Event of Default occurs and is continuing or (ii) Availability is less than the Dominion Trigger Threshold and (b) continuing until the date that during the previous 30 consecutive days, (i) no Event of Default has existed and (ii) Availability has been greater than the Dominion Trigger Threshold at all times during such period. Dominion Trigger Threshold: the greater of (a) 10% of the aggregate Commitments at such time and (b) $10,000,000. EBITDA: for any Measurement Period, for the Company and its Subsidiaries on a consolidated basis determined in accordance with GAAP, an amount equal to:
Dominion Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Excess Availability is less than $6,000,000 for any three (3) consecutive Business Days and (b) continuing until, during the preceding sixty (60) consecutive days, no Event of Default existed and Excess Availability has been greater than $6,000,000.
Dominion Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs and is continuing or (ii) Adjusted Excess Availability is less than the greater of (x) ten percent (10.0%) of the Maximum Borrowing Amount at such time and (y) $17,500,000 for a period of five (5) consecutive Business Days and (b) continuing until the date that during the previous thirty (30) consecutive days, (i) no Event of Default has existed and (ii) Adjusted Excess Availability has been equal to or greater than the greater of (x) ten percent (10%) of the Maximum Borrowing Amount at such time and (y) $ 17,500,000. “DQ List” has the meaning specified in Section 11.06(d). “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. “EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. “Eligible Accounts” means Accounts due to a Loan Party that are determined by the Administrative Agent, in its Permitted Discretion, to be Eligible Accounts. Except as otherwise agreed by the Administrative Agent, none of the following shall be deemed to be Eligible Accounts: (a) Accounts that are (i) not fully earned by performance (or otherwise represent a progress billing or pre-billing) or (ii) not evidenced by an invoice which has been delivered to the applicable Account Debtor; (b) Accounts that have been outstanding for more than ninety (90) days from the invoice date or more than sixty (60) days past the original due date whichever comes first; (c) Accounts due from any Account Debtor, fifty percent (50%) of whose Accounts are otherwise ineligible under clause (b) above; (d) Accounts with respect to which (i) the representations and warranties set forth in the Loan Documents with respect thereto are not true and c...
Dominion Trigger Period the period (a) commencing on the day that (i) an Event of Default occurs; (ii) average Availability during any month (as reflected in the Loan Account) is less than 10% of the Borrowing Base; or (iii) Availability (as reflected in the Loan Account) is at any time less than 7.5% of the Borrowing Base, and (b) ending on the day on which, during the preceding 60 consecutive days, (x) no Event of Default has existed, (y) average Availability during any month during such period (as reflected in the Loan Account) has at all times been greater than 12.5% of the Borrowing Base. EBITDA: for any period of measurement, determined on a consolidated basis for Parent and its Subsidiaries derived from financial statements prepared in accordance with GAAP, net income, calculated before
Dominion Trigger Period means any period (a) commencing on the day that (i) an Event of Default occurs and is continuing or (ii) Availability is less than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000, and (b) continuing until the date that (i) in the case of clause (a)(i), no Event of Default exists, and (ii) in the case of clause (a)(ii), during the previous thirty (30) consecutive days, Availability has been greater than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000.
Dominion Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Availability is less than 12.5% of the Commitments at any time; and (b) continuing until, during the preceding 45 consecutive days, no Event of Default has existed and Average Availability is greater than 12.5% of Commitments for such period; provided, that the Borrowers shall not be permitted to cure an event giving rise to a Dominion Trigger Period more than two times in any Fiscal Year.
Dominion Trigger Period means the period (a) commencing on the day that (i) an Event of Default has occurred and is continuing or (ii) Adjusted Excess Availability is less than the greater of (x) 10.0% of the Maximum Borrowing Amount at such time and (y) $17,500,000 for a period of five (5) consecutive Business Days, and (b) continuing until the date that during the previous thirty (30) consecutive days, (i) no Event of Default has existed, and (ii) Adjusted Excess Availability has been equal to or greater than the greater of (x) 10.0% of the Maximum Borrowing Amount at such time and (y) $17,500,000.