Financial Covenant Trigger Event definition

Financial Covenant Trigger Event shall have the meaning provided in Section 11.11;

Financial Covenant Trigger Event has the meaning specified in Section 6.17.

Financial Covenant Trigger Event means the failure of Excess Availability to be equal to or greater than an amount equal to twenty percent (20%) of the Revolving Commitments. A Financial Covenant Trigger Event shall continue until Excess Availability is equal to or greater than an amount equal to twenty percent (20%) of the Revolving Commitments. The termination of a Financial Covenant Trigger Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Financial Covenant Trigger Event in the event that the conditions set forth in this definition again arise.

Examples of Financial Covenant Trigger Event in a sentence

• However, since most of the Town is zoned for residential uses, the Town may face a legal challenge from carriers who will argue that the buffer creates a de facto prohibition on installation of wireless facilities.

• Representations and Warranties C-6 S CHEDULE 4 Financial Covenants F ixed Charge Coverage Ratio.A Financial Covenant Trigger Event [has/has not] occurred during the month for which financial statements are being delivered herewith.

• Include if a Financial Covenant Trigger Event has occurred during the month for which financial statements are being delivered.C-7 S CHEDULE 5 Change in Identity of Material Subsidiaries, Immaterial Subsidiaries and Foreign Subsidiaries C-8 Exhibit 10.2 EXECUTION VERSION AMENDMENT NO.

• So long as any Financial Covenant Trigger Event shall have occurred and be continuing, the Consolidated Fixed Charge Coverage Ratio, for the most recently ended Fiscal Quarter for which financial statements have been delivered pursuant to Section 5.03(b), shall not be less than 1.0 to 1.0.

More Definitions of Financial Covenant Trigger Event

Financial Covenant Trigger Event means any date on which Alternate Excess Availability (without giving effect, at any time on or after October 4, 2020, to the FILO Formula Amount) is less than 12.5% of the lesser of the Borrowing Base or the Maximum Revolver Amount or an Event of Default has occurred; provided, that in no event shall a Financial Covenant Trigger Event occur at any time during the period beginning on the Fifth Amendment Date through (and including) October 3, 2020.

Financial Covenant Trigger Event means the occurrence of the date on which Availability is less than 10.0% of the Total Commitment.

Financial Covenant Trigger Event means that Excess Availability on any date is less than 12.5% of the Maximum Revolver Amount.

Financial Covenant Trigger Event means (a) the occurrence of an Event of Default or (b) Agent's reasonable determination in its discretion that Alternate Excess Availability is less than an amount equal to twelve and one-half percent (12.5%) of the lesser of (i) the Tranche A Borrowing Base and (ii) the sum of the Tranche A Maximum Credit and the Tranche B Maximum Credit.

Financial Covenant Trigger Event means (a) any date on which Alternate Excess Availability (without giving effect, at any time, to the FILO Formula Amount) is less than 12.5% of the lesser of the Borrowing Base or the Maximum Revolver Amount, (b) any date on which an Event of Default has occurred or (c) September 30, 2023 but only if the Availability of Borrowers, as of the date on which Agent receives (and based on) the Borrowing Base Certificate for September 30, 2023, does not exceed the greater of (i) seventeen and one-half percent (17.50%) of the lesser of (A) the Borrowing Base or (B) the Maximum Revolver Amount and (ii) $25,000,000. For purposes of this definition Availability will be calculated without giving effect to the Availability Block.”

Financial Covenant Trigger Event means any date on which Alternate Excess Availability (without giving effect to the FILO Formula Amount) is less than 12.5% of the lesser of the Borrowing Base or the Maximum Revolver Amount or an Event of Default has occurred.

Financial Covenant Trigger Event means (i) a Default or Event of Default shall have occurred or (ii) Undrawn Availability is less than $15,000,000 (as evidenced by a Borrowing Base Certificate and any supporting schedules, in form and substance satisfactory to Agent, calculated as of the last day of such calendar month); provided, however, the operation of clause (iv) in the calculation of the Formula Amount shall be disregarded for purposes of calculating Undrawn Availability in this definition.