Financial Covenant Period definition

Financial Covenant Period means a period which shall commence on any date (the "Commencement Date") on which Excess Availability is less than the Threshold Amount and shall continue until the later of: (a) the date that is the last day of the second full fiscal quarter after the Commencement Date, and (b) the last day of the fiscal quarter after the Commencement Date in which Average Availability for a period of 60 consecutive days is greater than or equal to the Threshold Amount.

Financial Covenant Period means a period which shall commence on any date of determination on which Excess Availability is less than the greater of (i) 10% of the Line Cap and (ii) $100,000,000, and shall continue until Excess Availability is not less than the greater of (a) 10% of the Line Cap and (b) $100,000,000 for a period of 60 consecutive days.

Financial Covenant Period means a period which shall commence (a) immediately on any date on which Availability plus Qualified Cash is less than $18,000,000, and (b) on any date on which Availability plus Qualified Cash has been less than $20,000,000 but equal to or greater than $18,000,000 for a period of 5 consecutive Business Days, and in each case such period shall continue until the date on which Availability plus Qualified Cash has been greater than or equal to $20,000,000 for a period of 30 days.

Examples of Financial Covenant Period in a sentence

• Commencing on the date on which a Financial Covenant Period begins and measured as of the end of the fiscal month immediately preceding the date on which a Financial Covenant Period first begins and as of each fiscal month end thereafter during such Financial Covenant Period, Borrowers will have a Fixed Charge Coverage Ratio, measured on a trailing twelve month basis as of the end of each applicable calendar month, of at least 1.10:1.00.

• Have a Fixed Charge Coverage Ratio measured on a month end basis, of at least 1.10:1.00 for the 12 month period ending on the first full month ended immediately prior to the date on which any Financial Covenant Period commences and for the 12 month period ending on the last day of each month thereafter during a Financial Covenant Period.

• Subject to Section 8.02(b), beginning with the first full Fiscal Quarter ended after the Closing Date and with respect to each such subsequent Fiscal Quarter during the Financial Covenant Period, the Borrower shall not permit the Total Net Leverage Ratio as of the last day of any Fiscal Quarter to exceed 4.50 to 1.00.

• The Fixed Charge Coverage Ratio of Stellex and its Subsidiaries on a consolidated basis at the end of each Financial Covenant Period commencing with the Financial Covenant Period ending March 31, 2000 shall not be less than 1.50 to 1.00.

• Each Borrower covenants and agrees that, until termination of all of the Commitments and payment in full of the Obligations, Parent and its Subsidiaries will have a Fixed Charge Coverage Ratio, measured on a trailing four fiscal quarter basis, (a) as of the end of the fiscal quarter ended immediately preceding the date on which any Financial Covenant Period commences, and (b) as of the end of each fiscal quarter during which any Financial Covenant Period was in effect, in each case, of at least 1.1:1.0.

More Definitions of Financial Covenant Period

Financial Covenant Period means a period which shall commence on any date on which a Financial Covenant Trigger Event has occurred and shall continue until the date on which Agent has determined that no Financial Covenant Trigger Event exists or has existed for a period of sixty (60) consecutive days; provided, that in no event shall a Financial Covenant Period exist at any time during the period beginning on the Fifth Amendment Date through (and including) July 3, 2021.

Financial Covenant Period means a period which shall commence on any date (the "Commencement Date") on which (a) Liquidity, as of such date, is less than $16,500,000 or (b) Pure Availability, as of such date, is less than $10,000,000, and shall continue until the later of:

Financial Covenant Period means, in determining compliance with the financial covenants hereunder, with respect to each fiscal quarter, the financial information for the immediately preceding four fiscal quarters ending on the last day of such fiscal quarter.

Financial Covenant Period means (i) with respect to the first fiscal quarter of Fiscal Year 2002, the three fiscal months ending on the last day of such fiscal quarter; (ii) with respect to the second fiscal quarter of the Fiscal Year 2002, the six fiscal months ending on the last day of such fiscal quarter; (iii) with respect to the third fiscal quarter of the Fiscal Year 2002, the nine fiscal months ending on the last day of such fiscal quarter; and (iv) with respect to each fiscal quarter thereafter, the immediately preceding twelve fiscal months.

Financial Covenant Period means any period on or after January 1, 2017 which shall commence on any date (the “Commencement Date”) on which Excess Availability is less than $20,000,000 as of such date and shall continue until the later of:

Financial Covenant Period means (a) if prior to the date on which the Company’s financial statements for the second quarter of 2003 are available, the Company’s most recently ended full fiscal quarter or quarters, as applicable, that commenced after the date of this Indenture for which internal financial statements are available immediately preceding the date on which the applicable Restricted Payment is made, additional Indebtedness is incurred or Disqualified Stock or preferred stock is issued or (b) if after the date on which the Company’s financial statements for the second quarter of 2003 are available, the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which the applicable Restricted Payment is made, additional Indebtedness is incurred or Disqualified Stock or preferred stock is issued.

Financial Covenant Period means the four preceding Fiscal Quarters ending with the end of such Fiscal Quarter.