Level I Trigger Event means the occurrence of any of the following events on any Determination Date, with respect to the related Collection Period:
Level I Trigger Event. “Level II Trigger Event”, “Level III Trigger Event”, “Monthly Principal Amount”, “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.
Level I Trigger Event means the occurrence of any of the following:
Examples of Level I Trigger Event in a sentence
Purchase any Receivable that, as of the related Purchase Date, is (or would, after giving effect to the proposed purchase, be) subject to a Level I Trigger Event.
Upon the occurrence of a Level I Trigger Event, and until such time as a Level II Trigger Event shall have occurred, the Collection Agent shall remit daily within one (1) Business Day of receipt to the Bank of America Collection Account all Collections received.
More Definitions of Level I Trigger Event
Level I Trigger Event means, as of any date, that (x) a Portfolio Trigger --------------------- Event has occurred on or prior to such date or (y) a Portfolio Default has occurred prior to such date and such Portfolio Default has been cured or waived in accordance with the related transaction documents.
Level I Trigger Event means a Level I Cumulative Gross Loss Trigger Event, a Level I Cumulative Net Loss Trigger Event, a Level I Delinquency Trigger Event or a Level I Default Trigger Event.
Level I Trigger Event means, with respect to any Receivable owing by a Special Obligor, (a) the Credit Rating (without regard to outlook or watch status) of such Obligor’s senior unsecured long-term indebtedness (or, if such Obligor does not then have a Credit Rating, its Reference Entity) shall be withdrawn or reduced two levels below the Credit Rating assigned to such entity as of the Closing Date or (b) if Hulu, LLC, Directv LLC or AT&T Services, Inc. is the related Special Obligor, such Obligor’s Reference Entity shall cease to own and control, directly or indirectly, more than 50% of the beneficial ownership of the aggregate outstanding voting power of the equity interests of such related Special Obligor.
Level I Trigger Event. “Level II Trigger Event”, “Level III Trigger Event”, “Class A Monthly Principal Payment Amount”, “Class B Monthly Principal Payment Amount”, “Monthly Loan Tape”, “Monthly Report”, “Regulatory Event”, “Revolving Period”, “Reserve Account Required Amount” or any defined term used in any of the foregoing definitions,
Level I Trigger Event means, a breach of any of the collateral performance tests listed below. The collateral performance tests listed below will be tested as of the last Business Day of each Collection Period (unless indicated otherwise) and reported to the Administrative Agent and the Lenders on each Monthly Report.
Level I Trigger Event means the failure of Yellow Roadway Corporation to maintain a Total Leverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on September 10, 2004) or a Consolidated Fixed Charge Coverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on September 10, 2004) as set forth in the table below:
Level I Trigger Event means the failure of Yellow Roadway Corporation to maintain a Total Leverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on September 10, 2004) or a Consolidated Fixed Charge Coverage Ratio (as defined in the Yellow Roadway Credit Agreement as in effect on September 10, 2004) as set forth in the table below: TOTAL LEVERAGE RATIO CONSOLIDATED FIXED CHARGE COVERAGE RATIO < 2.75 : 1.00 at any time between and including 9/10/04 and 12/31/05 > 2.25 : 1.00 for any Test Period (as defined in the Yellow Roadway Credit Agreement as in effect on 9/10/04) ending after 9/10/04 and on or prior to the fiscal year ending 12/31/05 < 2.25 : 1.00 at any time thereafter > 2.75 : 1.00 for any Test Period ending thereafter