Financial Trigger definition

Financial Trigger means an event arising upon the occurrence of either a Net Worth Trigger or a Liquidity Trigger.
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Financial Trigger means an event arising upon the occurrence of any of a Net Worth Trigger, a Liquidity Trigger or a Leverage Debt-to-Income Trigger.
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Financial Trigger means any of the following events or occurrences in respect of any Party or Guarantor, as the case may be, as applicable:
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Examples of Financial Trigger in a sentence

  • After a Second-tier Trigger Event or a Financial Trigger Event and for the duration of the Suspension Period, the Sponsor may not amend or terminate the Plan.

  • At any time after a Financial Trigger Event, the Administrator may direct distributions or other actions according to this subsection.

  • If the [Year] Financial Trigger for Distributions is not met, then all of the Target Grant Unit shall be forfeited without consideration and this Agreement shall terminate in its entirety.

  • The Employee will not be entitled to receive any Unit Distribution Rights payments if the [Year] Financial Trigger for Distributions is not met.

  • To the extent a Financial Trigger Event has occurred, the Borrowers may request that such testing of the Fixed Charge Coverage Ratio be suspended following a period in which Borrowers have Excess Availability of more than ten percent (10%) of the Maximum Loan Limit for at least sixty (60) consecutive days (a “Financial Covenant Suspension”).

  • In the event that the Employee is terminated by the Company Entities without Cause or by the Employee for Good Reason (as defined below), in either case, within the twelve (12) month period immediately following the consummation of a Change of Control, then, if the [Year] Financial Trigger for Distributions has been met (or would be met following the completion of the [Year] fiscal year), all unvested Restricted Units shall immediately be accelerated and become Vested Units.

  • According to this exhibit (and despite Plan section 11.52), the term "Financial Trigger Event" is no longer a defined term under the Plan (in other words, a Financial Trigger Event cannot occur under the Plan).

  • From and at all times after the Financial Trigger Event but prior to the Financial Trigger Release Event, allow, permit or otherwise suffer the value of Pledged Collateral to be less than the Minimum Cash Collateral Value at any time.

  • A Financial Trigger Event occurs if any of the circumstances described in any paragraph of this subsection occurs.

  • Until the exhibit entitled "Financial Trigger Events" exists, subsection (b) of this Plan's section is deemed to be that exhibit.


More Definitions of Financial Trigger

Financial Trigger means that either (A) the sum of Tenant's cash, cash equivalents and accounts receivables from Aventis are less than $50,000,000 or (B) Tenant's net worth is less than $40,000,000. Tenant shall immediately notify Landlord upon the occurrence of the Financial Trigger. If requested by Landlord, Tenant shall furnish Landlord with evidence as to whether or not the Financial Trigger has occurred.
Sample 1
Financial Trigger means, for the Company and its Subsidiaries on a consolidated basis, that (i) net profit after tax for the fiscal year ending December 31, 2007 shall be less than $9.0 million (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year) or (ii) net profit after tax for the fiscal year ending December 31, 2008 shall be less than $13.5 million (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year). The calculation of “net profit after tax” for the purposes of this definition shall be as reported in the Company’s audited financial statements for the applicable fiscal year, and shall be made in accordance with GAAP consistently applied and as determined by the Company’s regular independent public accountants in the Company’s fiscal year ending December 31, 2006, after deducting “income tax expense” and the amount, if any, for minority interest that may arise, but without adding any “other comprehensive income” or any extraordinary income; provided that the calculation of “net profit after tax” for the purposes of this definition shall not include (i) accounting charges arising from or in connection with the issuance of the Notes and all other accounting charges related to the Notes, if any, (ii) accounting charges arising from or in connection with the issuance or exercise of the Warrants and all other accounting charges related to the Warrants, if any, (iii) the after tax amount of interest recognized in each of the relevant fiscal year associated with the Notes, (iv) accounting income or changes arising from any change or the introduction of new accounting standards required by GAAP after the date of this Agreement (v) any non-cash expense incurred at any time in connection with the issuance of shares of Common Stock pursuant to (x) Section 8 and (y) the Company’s stock option plans and employee stock purchase plans and which have been approved by the Company’s Board of Directors so long as such issuances in the aggregate do not exceed five percent (5%) of the Common Stock of the Company issued and outstanding immediately prior to such issuance or grants, and (vi) any extraordinary gain or loss.
Sample 1
Financial Trigger means, for the Parent and its Subsidiaries on a consolidated basis, that net profit after tax for the three months ending December 31, 2007 shall be not less than $3,000,000 (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year). The calculation of “net profit after tax” for the purposes of this definition shall be as reported in the Parent’s financial statements for the applicable period, and shall be made in accordance with GAAP consistently applied, which shall be audited by the Parent’s independent public accountants in accordance with generally accepted auditing standards, after deducting “income tax expense” and the amount, if any, for minority interest that may arise, but without adding any “other comprehensive income” or any extraordinary income; provided that the calculation of “net profit after tax” for the purposes of this definition shall not include any costs or expenses incurred in connection with the transactions contemplated by this Agreement and costs and expenses in connection with all fundraising or financings activities of the Parent and the Company during the applicable period, including any non-cash expense incurred at any time in connection with the issuance of shares of Common Stock pursuant to (x) Section 8 of the Warrant Agreement or (y) the Parent’s stock option plans and employee stock purchase plans and which have been approved by the Parent’s Board of Directors so long as such issuances in the aggregate do not exceed five percent (5%) of the Common Stock of the Parent issued and outstanding immediately prior to such issuance or grants.
Sample 1

Related to Financial Trigger

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • 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”.

  • 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”.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • 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.

  • Regulatory Capital Treatment Event means the good faith determination by the Corporation that, as a result of (i) any amendment to, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of Series F Preferred Stock, (ii) any proposed change in those laws or regulations that is announced after the initial issuance of any share of Series F Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations that is announced after the initial issuance of any share of Series F Preferred Stock, there is more than an insubstantial risk that the Corporation will not be entitled to treat the full liquidation value of the shares of Series F Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Board of Governors of the Federal Reserve System, Regulation Y, 12 CFR 225 (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency), as then in effect and applicable, for as long as any share of Series F Preferred Stock is outstanding.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Capital Treatment Event means the receipt by the Company and the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of the occurrence of any amendment to, or change (including any announced prospective change) in, the laws, rules or regulations of the United States or any political subdivision thereof or therein, or as the result of any official or administrative pronouncement or action or decision interpreting or applying such laws, rules or regulations, which amendment or change is effective or which pronouncement, action or decision is announced on or after the date of original issuance of the Debentures, there is more than an insubstantial risk that the Company will not, within 90 days of the date of such opinion, be entitled to treat an amount equal to the aggregate liquidation amount of the Capital Securities as “Tier 1 Capital” (or its then equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve, as then in effect and applicable to the Company (or if the Company is not a bank holding company, such guidelines applied to the Company as if the Company were subject to such guidelines); provided, however, that the inability of the Company to treat all or any portion of the liquidation amount of the Capital Securities as Tier l Capital shall not constitute the basis for a Capital Treatment Event, if such inability results from the Company having cumulative preferred stock, minority interests in consolidated subsidiaries, or any other class of security or interest which the Federal Reserve or OTS, as applicable, may now or hereafter accord Tier 1 Capital treatment in excess of the amount which may now or hereafter qualify for treatment as Tier 1 Capital under applicable capital adequacy guidelines; provided further, however, that the distribution of Debentures in connection with the liquidation of the Trust shall not in and of itself constitute a Capital Treatment Event unless such liquidation shall have occurred in connection with a Tax Event or an Investment Company Event.

  • 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.

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

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

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

  • Mandatory Trigger Provision means, as to any Qualifying Capital Securities, provisions in the terms thereof or of the related transaction agreements that:

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Regulatory Capital Event means the good faith determination by the Company that, as a result of (i) any amendment to, clarification of, or change in, the laws or regulations of the United States or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of the Series A Preferred Stock, (ii) any proposed change in those laws or regulations that is announced or becomes effective after the initial issuance of any share of the Series A Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations or policies with respect thereto that is announced after the initial issuance of any share of the Series A Preferred Stock, there is more than an insubstantial risk that the Company will not be entitled to treat the full liquidation preference amount of $25,000 per share of the Series A Preferred Stock then outstanding as “tier 1 capital” (or its equivalent) for purposes of the capital adequacy guidelines of the Federal Reserve (or, as and if applicable, the capital adequacy guidelines or regulations of any successor Appropriate Federal Banking Agency) as then in effect and applicable, for so long as any share of the Series A Preferred Stock is outstanding.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Ratings Decline means a decrease in the rating of the Notes by both Xxxxx’x and S&P by one or more gradations (including gradations within Rating Categories as well as between Rating Categories). In determining whether the rating of the Notes has decreased by one or more gradations, gradations within Ratings Categories, namely + or - for S&P, and 1, 2, and 3 for Xxxxx’x, will be taken into account; for example, in the case of S&P, a ratings decline either from BB+ to BB or BB to BB- will constitute a decrease of one gradation.