FCCR Covenant Trigger Date definition

FCCR Covenant Trigger Date means any Month End Date on which Excess Availability is less than 15%, as calculated and set forth in the Borrowing Base Certificate most recently delivered pursuant to this Agreement.
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FCCR Covenant Trigger Date means, the first date after the Effective Date on which (i) the Fixed Charge Coverage Ratio shall have been greater than 1.0 to 1.0 for two consecutive fiscal quarters, in each case on a trailing four fiscal quarter basis as of the end of the last quarter for which financial statements have most recently been delivered or are required to be delivered pursuant to Section 5.01(a) or Section 5.01(b) and (ii) the Borrower Representative delivers written notice to the Administrative Agent of the Borrower Representative’s election to cause (x) the financial covenant set forth in Section 6.13 to become effective (from and after the date specified in such notice) and (y) the financial covenant set forth in Section 6.14 to cease to be effective (from and after the date specified in such notice), which written notice shall include a certification with respect to the accuracy of clause (i) of this definition and the calculation of the Fixed Charge Coverage Ratio for the two applicable consecutive fiscal quarters.
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FCCR Covenant Trigger Date means any Month End Date on which either (a) Domestic Cash is less than $40,000,000 and Excess Availability is less than 20% or (b) Domestic Cash is equal to or greater than $40,000,000 and Excess Availability is less than 15%, in each case as calculated and set forth in the Borrowing Base Certificate most recently delivered pursuant to this Agreement.
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Examples of FCCR Covenant Trigger Date in a sentence

  • Prior to the occurrence of the FCCR Covenant Trigger Date, the Borrowers will not permit Liquidity at any time to be less than the Dollar Equivalent of $1,000,000,000.


More Definitions of FCCR Covenant Trigger Date

FCCR Covenant Trigger Date means any Month End Date on which Excess Availability is less than 25%.
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FCCR Covenant Trigger Date means any Month End Date on which Excess Availability is less than 25%. “FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.
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Related to FCCR Covenant Trigger Date

  • 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.

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

  • Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

  • Ramp-Up Period means the period from and including the Effective Date to, but excluding, September 23, 2016.

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

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) all of the Commitments have terminated and (b) all Obligations have been paid in full in cash (other than contingent indemnification obligations for which no claim has been asserted).

  • Ramp Period The Ramp Period shall begin on the Effective Date and continue for a period of 3 months following the Effective Date. Commencing with the Effective Date and at all times during the Ramp Period thereafter, Customer will receive the rates, discounts, charges and credits set forth herein and will not be subject to the AVC. Annual Volume Commitment (“AVC”): $360,000 in Total Service Charges (“AVC”) during each contract year of the Term (following the expiration of the Ramp Period).

  • Start-up Period means up to a maximum of 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age-range of the Academy will have some pupils present).