Financial Covenant Trigger Date definition

Financial Covenant Trigger Date means the first date following the Closing Date in which either of the following events occur: (i) the Credit Agreement is terminated or (ii) neither the Administrative Agent nor any Affiliate thereof is a party to the Credit Agreement at any time following the Closing Date (the effective date thereof, the “Credit Agreement Removal Date”) and such condition has continued for five (5) calendar months during which time the Restructuring Condition has not been satisfied.

Financial Covenant Trigger Date means the earlier to occur of (a) the date the 2018 Notes Agreement has been terminated and all of the 2018 Notes have been paid in full and (b) the effective date that Section 10.7 (Financial Covenants) of the 2018 Notes Agreement is amended in a manner that conforms to the testing only of (i) the Consolidated Leverage Ratio as contemplated to be tested after the Financial Covenant Trigger Date in Section 7.11 hereof and (ii) the debt priority covenant.

Financial Covenant Trigger Date means the earlier to occur of (a) the date the 2018 Notes Agreement has been terminated and all of the 2018 Notes have been paid in full and (b) the effective date that Section 10.7 (Financial Covenants) of the 2018 Notes Agreement is amended in a manner that conforms to the testing only of (i) the Consolidated Leverage Ratio as contemplated to be tested after the Financial Covenant Trigger Date in Section 7.12 hereof and (ii) the debt priority covenant.

Examples of Financial Covenant Trigger Date in a sentence

• During any Financial Covenant Trigger Period, maintain a Fixed Charge Coverage Ratio of at least 1.00 to 1.00 as of the last day of any Fiscal Quarter and determined for the period consisting of the most recent four Fiscal Quarters ended prior to the Financial Covenant Trigger Date.

• For any fiscal quarter ending after the Financial Covenant Trigger Date, permit the Consolidated Total Leverage Ratio, as calculated at the last day of such fiscal quarter for the period of twelve consecutive months then ending, to be more than 3.50:1.00.

• At any time on or after September 30, 2017, solely during the continuance of an Financial Covenant Trigger Period, fail to maintain a Fixed Charge Coverage Ratio of not less than 1.00:1.00, measured monthly commencing on the Financial Covenant Trigger Date with the month ending immediately after the Financial Covenant Trigger Date, on a trailing twelve month basis.

• During any Financial Covenant Trigger Period, maintain cumulative EBITDA for the periods specified below, determined as of the end of the Fiscal Month ended prior the Financial Covenant Trigger Date specified below, at least equal to the following amounts: July 1, 2009 through September 30, 2009 $ 1,256,000 July 1, 2009 through October 31, 2009 $ 3,422,000 July 1, 2009 through November 30, 2009 $ 5,756,000 July 1, 2009 through December 31, 2009 $ 7,191,000 25.

• Prior to the FCCR Financial Covenant Trigger Date, the Borrowers and their Subsidiaries shall at all times maintain Availability of not less than the greater of (a) the Applicable Availability Amount and (b) 12.5% of the Combined Line Cap (excluding the effect, if any, of any Term Pushdown Reserve).

More Definitions of Financial Covenant Trigger Date

Financial Covenant Trigger Date the date upon which Availability is less than the greater of (i) $5,000,000 and (ii) ten percent (10%) of the Revolver Commitments for any day on or after the Effective Date.

Financial Covenant Trigger Date means that date on which the sum of the following falls below the Financial Covenant Trigger: (a) Borrower’s unrestricted and unencumbered (except for Liens in favor of Bank) cash and Cash Equivalents assets held by Borrower at Bank, plus (b) up to One Million Dollars ($1,000,000) of Borrower’s or any of Borrower’s Subsidiaries’ unrestricted and unencumbered (except for Liens in favor of Bank) cash and Cash Equivalent assets (if any) held by Borrower at financial institutions other than Bank.

Financial Covenant Trigger Date means the first date following the Closing Date in which either of the following events occur: (i) the Credit Agreement is terminated or (ii) neither the Administrative Agent nor any Affiliate thereof is a party to the Credit Agreement at any time following the Closing Date (the effective date thereof, the “Credit Agreement Removal Date”)

Financial Covenant Trigger Date means the earlier to occur of (a) Payment in Full of the Senior Obligations and (b) the date on which the financial covenant suspension pursuant to the SVB Forbearance Agreement terminates.

Financial Covenant Trigger Date the earliest date upon which Domestic Availability has been (a) less than $5,000,000 for three consecutive Business Days or (b) less than $2,500,000 for any day on or after the Amendment No. 2 Effective Date.”

Financial Covenant Trigger Date. April 29, 2025.

Financial Covenant Trigger Date. April 29, 2025.the earlier of (a) April 28, 2026 or (b) the date designated by the Borrower as the Financial Covenant Trigger Date in its discretion no later than 10 days prior to the last day of the first fiscal quarter with respect to which the Borrower is electing to comply with the financial covenants in Sections 7.1(c) and (d) instead of Sections 7.1(a) and (b). “Flood Laws”: the National Flood Insurance Reform Act of 1994 and related legislation (including the regulations of the Board of Governors of the Federal Reserve System). “Floor”: a rate of interest equal to 0.00%. “Flow of Funds Agreement”: the spreadsheet or other similar statement prepared and certified by Borrowers, regarding the disbursement of Loan proceeds, the funding and the payment of the fees and expenses of the Administrative Agent and the Lenders (including their respective counsel), and such