Financial Covenant Trigger Amount definition

Financial Covenant Trigger Amount means, on any date of determination, an amount equal to the greater of (a) $4,500,000, plus, in the event that Borrowers request and receive any incremental Revolving Loan Line Increase, an amount equal to 10% of each such Revolving Loan Line Increase or (b) ten percent (10%) of the Borrowing Base on such date.
Sample 1
Financial Covenant Trigger Amount. (a) at any time through and including May 31, 2020, $3,000,000; (b) at any time from and after June 1, 2020 through and including June 30, 2020, $3,500,000; (c) at any time from and after July 1, 2020 through and including August 31, 2020, $3,750,000; (d) at any time from and after September 1, 2020 through and including September 30, 2020, $4,000,000; (e) at any time from and after October 1, 2020 through and including October 31, 2020, $4,250,000; (f) at any time from and after November 1, 2020 through and including November 30, 2020, $4,500,000; and (g) at any time from and after December 1, 2020, $5,000,000.”
Sample 1Sample 2
Financial Covenant Trigger Amount. (a) at any time through and including, January 15, 2020, $4,000,000; (b) at any time from January 16, 2020 through March 31, 2020, if (i) the Borrower shall be in compliance with Section 10.1.17(3), $4,000,000, or (ii) if the Borrower shall have failed to comply with Section 10.1.17(3), $5,000,000; and (c) at any time from and after April 1, 2020, $5,000,000.”
Sample 1

Examples of Financial Covenant Trigger Amount in a sentence

  • From and after such date, the provisions of Section 10.3.1 shall be effective at all times unless and until (i) Liquidity shall exceed the Financial Covenant Trigger Amount for a period of 90 consecutive days and (ii) any Event of Default then existing is waived by Administrative Agent.

  • She was simply not reelected at the board’s annual meeting.Turner’s allegations that the other directors appeared hostile to her, tried to freeze her out, and did not nominate her because she initiated this litigation, are speculative contentions or conclusions of law that do not amount to a material factual pleading that her removal was wrongful.

  • The financial covenant set forth in Section 10.3.1 shall be effective only if, on any Business Day, (a) there are (i) any Revolver Loans outstanding hereunder or (ii) the LC Obligations that have not been Cash Collateralized exceed $2,500,000 on such Business Day, and (b) Liquidity is, at the close of business on such Business Day, less than the Financial Covenant Trigger Amount.

  • Financial Covenant Trigger Amount - on any date of determination, shall mean an amount equal to $7,500,000.

  • The Term Loan Amendment amended the terms of the Term Loan and Security Agreement to, among other things (i) modify the definition of Financial Covenant Trigger Amount to be consistent with the BofA Amendment and (ii) modify the definition of IP Advance Rate Reduction to provide that the amount of reduction will be 5.0 percentage points through February 29, 2020, and at any time thereafter, 10.0 percentage points.

  • From and after such date, the provisions of SECTION 10.3.1 shall be effective at all times unless and until (i) Liquidity shall exceed the Financial Covenant Trigger Amount for a period of 90 consecutive days and (ii) any Event of Default then existing is waived by Administrative Agent.


More Definitions of Financial Covenant Trigger Amount

Financial Covenant Trigger Amount. (a) at any time through and including, February 29, 2020, $4,000,000; and (b) at any time from and after March 1, 2020, $5,000,000.”
Sample 1
Financial Covenant Trigger Amount means, at any time of determination, if Availability is an amount less than: (a) at any time through and including February 29, 2020, $4,000,000; (b) at any time from and after March 1, 2020, $5,000,000.”
Sample 1
Financial Covenant Trigger Amount at any time of determination, an amount equal to the greater of (a) 10% of the lesser of (i) the aggregate Revolver Commitment as of such date and (ii) the Revolver Borrowing Base (calculated without giving effect to the Term Loan Push Down Reserve) as of such date and (b) $5,000,000 Financial Covenant Trigger Date: any date on which Availability falls below the Financial Covenant Trigger Amount. Fiscal Month: any fiscal month of any Fiscal Year, which fiscal month shall consist of either four or five weeks and generally end on the Saturday closest to the last day of each calendar month in accordance with the fiscal accounting calendar of the Company and its Subsidiaries.
Sample 1
Financial Covenant Trigger Amount at any time of determination, if Availability is an amount less than the greater of (a) 10% of the Revolver Borrowing Base as of such date (calculated without giving effect to the Term Loan Push Down Reserve), and (b) $5,000,000. Financial Covenant Trigger Date: any date on which Availability falls below the Financial Covenant Trigger Amount.
Sample 1
Financial Covenant Trigger Amount means, on any date of determination, an amount equal to $5,000,000.
Sample 1

Related to Financial Covenant Trigger Amount

  • Financial Covenant means the covenant set forth in Section 7.09.

  • 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.

  • 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.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • First Lien Leverage Ratio means, on any date, the ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Consolidated Senior Secured Net Leverage Ratio means as of any date of determination the ratio, on a Pro Forma Basis, of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.