Dominion Triggering Event definition

Dominion Triggering Event means, as of any date of determination, that (A) Agent has notified Borrowers that an Event of Default has occurred as of such date, or (B) Excess Availability is less than $15,000,000 for the third consecutive Business Day.
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Dominion Triggering Event is defined in Section 4.3(d) of the Agreement.
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Dominion Triggering Event means either (a) a request by Borrowers through Borrowing Agent pursuant to Section 3.1.1(a)(i) for a Revolving Credit Loan under the Revolving Credit Loan Facility or (b) the occurrence of an Event of Default hereunder. All funds deposited in the Dominion Account shall automatically be applied to the Obligations as of the date good funds are deposited in the Dominion Account, provided that such good funds are deposited by 12:00 noon, Eastern time, or, if such funds are deposited after 12:00 noon, Eastern time, on the following Business Day. All funds deposited in the Dominion Account shall immediately become the property of Agent, for the ratable benefit of Lenders. Agent assumes no responsibility for such arrangement, including, without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder. Notwithstanding anything to the contrary contained in any of the foregoing, if at any time Agent shall determine, in its reasonable good faith judgment, which determination shall be reached in consultation with the Company and its counsel, upon the request for such a determination by Borrowers, that compliance by Borrowers or any one or more of them with the provisions of this subsection 6.2.5 and/or the exercise by Agent of its rights under this subsection 6.2.5 would violate any Medicare or Medicaid regulations, Agent shall, on behalf of itself and the Lenders, agree to such modifications and amendments of the provisions of this paragraph as Agent, in its reasonable good faith judgment, shall determine to be necessary to comply with all Medicare and Medicaid regulations while still protecting and perfecting as far as possible Agent's Lien in the Proceeds of the Accounts of Borrowers.
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Examples of Dominion Triggering Event in a sentence

  • Agent shall promptly inform any depository, securities intermediary or issuer party to any control agreement to whom it has given a notice exercising exclusive control if the Cash Dominion Triggering Event has been suspended in accordance with Section 6.11, at which time Borrowers shall be entitled to give, and the depository, securities intermediary or issuer, as applicable, shall comply with, the Borrowing Agent’s instructions with respect to the Account.

  • Borrowers shall issue to any such bank on or before the Closing Date, an irrevocable letter of instruction directing said bank to transfer such funds so deposited to the Agent upon the occurrence of a Cash Dominion Triggering Event that has not been suspended in accordance with Section 6.11, either to any account maintained by the Agent at said bank or by wire transfer to appropriate account(s) of the Agent.

  • Upon the occurrence of a Cash Dominion Triggering Event, each Borrower shall deliver to Agent, or deposit in the Blocked Account, in original form and on the date of receipt thereof, all checks, drafts, notes, money orders, acceptances, cash and other evidences of Indebtedness.

  • Upon the occurrence of a Cash Dominion Triggering Event that has not been suspended in accordance with Section 6.11, all funds deposited in the Blocked Accounts shall immediately become the property of the Agent, and Borrowers shall obtain the agreement by such bank to waive any offset rights against the funds so deposited.

  • Alternatively, upon the occurrence of a Cash Dominion Triggering Event, Agent may establish depository accounts ("Depository Accounts") in the name of Agent at a bank or banks for the deposit of such funds and Borrowers shall deposit all proceeds of Collateral or cause same to be deposited, in kind, in such Depository Accounts of Agent in lieu of depositing same to the Blocked Accounts.

  • Each Grantor shall cause all payments and other proceeds in respect of Credit Card Accounts to be remitted directly to the Concentration Accounts (subject to the Administrative Agent’s right following the occurrence of a Cash Dominion Triggering Event until the completion of a Cash Dominion Restoration Period related thereto to direct Credit Card Processors to remit payments in respect of Credit Card Accounts directly to the Administrative Agent.

  • Prior to the occurrence of a Cash Dominion Triggering Event, each Loan Party will, at such Loan Party’s cost and expense, collect all amounts due on Receivables; provided, however, that to the extent any Loan Party deposits such amounts in an account, such account shall be an account with respect to which a Blocked Account Agreement has been entered into but will not go into effect until the occurrence of a Cash Dominion Triggering Event.

  • Prior to the occurrence of a Cash Dominion Triggering Event, the Loan Parties shall retain the right to direct the disposition of funds in the Blocked Accounts.

  • Prior to the occurrence of a Cash Dominion Triggering Event, payments made by a Borrower’s Customers remitted directly to Agent will be deposited by Agent in the Blocked Accounts, the Loan Parties shall have access to the funds in the Blocked Accounts, and Customer remittances shall only be treated as a repayment of Advances if the Borrowers so elect in a written notice to Agent.

  • Each such Control Agreement shall provide that until Agent shall have given written notice to the applicable Depository Bank according to the provisions of such Control Agreement that a Dominion Triggering Event has occurred, the applicable Borrower(s) shall have complete control and authority over the applicable Lockbox Account or Concentration Account.


More Definitions of Dominion Triggering Event

Dominion Triggering Event means, as of any date of determination, that (a) an Event of Default has occurred as of such date, or (b) Excess Availability is less than the Dominion Triggering Amount as of such date.
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Related to Dominion Triggering Event

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Triggering Events means each of the following events:

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).

  • 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.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (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) $50,000,000.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Restructuring Event means the occurrence of any one or more of the following events:

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Company Termination Event means any of the following:

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.