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.
More Definitions of Financial Covenant Trigger Event
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 the failure of the Loan Parties to maintain Availability in an amount greater than or equal to (a) the Availability Threshold Amount for five (5) consecutive Business Days or (b) $50,000,000 on any Business Day. For purposes of this Agreement, the occurrence of a Financial Covenant Trigger Event shall be deemed continuing until Availability is greater than or equal to the Availability Threshold Amount for twenty (20) consecutive days, at which time a Financial Covenant Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.
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.
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 (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, at any time on or after July 3, 2021, 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) July 3, 2021.