Financial Covenant Trigger Period means the period (a) commencing on the day that Availability is less than the greater of 12.5% of the Borrowing Base or $9,375,000, and (b) continuing until, during each of the preceding 30 consecutive days, Availability has at all times exceeded the greater of 12.5% of the Borrowing Base or $9,375,000.
Financial Covenant Trigger Period means any period (a) commencing on the day that an Event of Default occurs or Excess Availability is less than the Financial Covenant Excess Availability Threshold at any time and (b) continuing until no Event of Default has existed and Excess Availability has been greater than the Financial Covenant Excess Availability Threshold at all times for two consecutive months.
Financial Covenant Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Average Period Availability (for a one-day period) is less than the greater of (i) $15,000,000 and (ii) 10% of the Borrowing Base; and (b) continuing until, during the preceding thirty (30) consecutive days, no Event of Default has existed and Average Period Availability has been greater than the greater of (i) $15,000,000 and (ii) 10% of the Borrowing Base.
Examples of Financial Covenant Trigger Period in a sentence
Permit the Consolidated Fixed Charge Coverage Ratio, determined on a Pro Forma Basis as of (i) the last day of the Measurement Period most recently ended before the commencement of a Financial Covenant Trigger Period and (ii) the last day of each Measurement Period thereafter ending during any Financial Covenant Trigger Period to be less than 1.00 to 1.00 for such Measurement Period.
More Definitions of Financial Covenant Trigger Period
Financial Covenant Trigger Period means the period (a) commencing on the day that Liquidity is less than the greater of (i) $50,000,000 or (ii) 150% of the Current Real Estate Amount, and (b) continuing until, during the preceding 30 consecutive days, no Event of Default has existed and Liquidity has been greater than $75,000,000 at all times.
Financial Covenant Trigger Period means a period (a) commencing (i) automatically upon the occurrence of a Specified Amortization Event, (ii) at the written election of the Required Lenders upon the occurrence of any other Amortization Event, or (iii) when Combined Availability is less than the greater of (A) $75,000,000 and (B) 10% of the Combined Commitment, and (b) continuing until (i) no Amortization Event is then continuing, and (ii) Combined Availability remains in excess of the greater of (A) $75,000,000 and (B) 10% of the Combined Commitment for thirty (30) consecutive days. A Financial Covenant Trigger Period may be discontinued no more than five (5) times during the term of this Agreement.
Financial Covenant Trigger Period a period commencing on any date that Global Excess Availability is less than the Level 1 Availability Trigger Amount and continuing until the date Global Excess Availability shall have been equal to or greater than the Level 1 Availability Trigger Amount for 30 consecutive days.
Financial Covenant Trigger Period the period from and including the Financial Covenant Trigger Date until the Business Day after Availability has been greater than or equal to the greater of (i) $5,000,000 and (ii) ten percent (10%) of the Revolver Commitments for sixty (60) consecutive days. Financial Reporting Trigger Date: the first date upon which the outstanding balance of Revolver Loans is greater than zero for any day on or after the Effective Date. Fiscal Month: each fiscal month of the Company and Subsidiaries for accounting and tax purposes. Fiscal Quarter: each period of three Fiscal Months, commencing on the first day of a Fiscal Year. Fiscal Year: the fiscal year of the Company and Subsidiaries for accounting and tax purposes, ending on or about December 31 of each year.
Financial Covenant Trigger Period in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
Financial Covenant Trigger Period means, from and after March 31, 2023, any period (x) commencing on any day that (i) an Event of Default occurs or (ii) Availability at any time is less than the greater of (A) $11,250,000 and (B) 12.5% of the ABL Line Cap, and (y) continuing until the date that, at all times during each of the preceding 30 consecutive days, both (i) no Event of Default has occurred or been continuing and (ii) Availability has been greater than the greater of (A) $11,250,000 and (B) 12.5% of the ABL Line Cap.
Financial Covenant Trigger Period means any period (a) commencing on the day that (i) an Event of Default occurs and is continuing, or (ii) Availability is less than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000, and (b) continuing until the date that (i) in the case of clause (a)(i), no Event of Default exists, and (ii) in the case of clause (a)(ii), during the previous thirty (30) consecutive days, Availability has been equal to or greater than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000.