Liquidation Multiple definition

Liquidation Multiple means, if the Fundamental Change or Liquidation Event, as applicable, occurs (i) on or prior to the second anniversary of the Initial Issue Date, 105%, (ii) after the second anniversary but on or prior to the fifth anniversary of the Initial Issue Date, 103%, and (iii) after the fifth anniversary of the Initial Issue Date, 100%.
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Liquidation Multiple means (I) Net Recovery divided by (II) the lesser of (A) the amount of the Aggregate Revolving Loan Commitment as of the last day of the most recently completed fiscal month and (B) the Borrowing Base as shown in the Borrowing Base Certificate provided to Administrative Agent closest to (but not after) the end of the most recently completed fiscal month.
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Liquidation Multiple in Section 15.1 of the Loan Agreement is deleted in its entirety and replaced with the following:
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Examples of Liquidation Multiple in a sentence

  • Upon a Qualified Public Offering, and immediately prior to the automatic conversion of the Series M Preferred Stock pursuant to Section 3 below, the Series M Holders shall be entitled to receive for each share of Series M Preferred Stock, a cash dividend equal to the product of (x) the then applicable Series M Liquidation Multiple and (y) the Pre-QPO Other Distributions.

  • In the event of a True Liquidation, the holders of shares of Series M Preferred Stock shall be entitled to receive, out of the assets of the Corporation available for distribution to its stockholders, an amount in cash equal to the product of (x) the then applicable Series M Liquidation Multiple and (y) the Net Proceeds resulting from such True Liquidation, if any.

  • The per share redemption price at which the Series B Preferred Stock shall be redeemed pursuant to this SECTION 3.3(C)(I) shall be an amount in cash equal to the product of (x) the Series B Liquidation Multiple and (y) the Net Proceeds resulting from the first event constituting a Liquidation Event, if any (the "SERIES B MANDATORY REDEMPTION PRICE").

  • Each Borrower covenants that the Liquidation Multiple calculated as of the last day of each fiscal month of Borrower shall be no less than 1.20:1.00.

  • Each Borrower covenants that the Liquidation Multiple calculated as of the last day of each fiscal month of Borrower shall be no less than 1.08:1.00.


More Definitions of Liquidation Multiple

Liquidation Multiple means (I) Net Recovery divided by (II) the lesser of (A) the amount of the Aggregate Revolving Loan Commitment (as defined in the GE Financing Agreement) as of the last day of the most recently completed fiscal month and (B) the Borrowing Base (as defined in the GE Financing Agreement) as shown in the Borrowing Base Certificate provided to GE closest to (but not after) the end of the most recently completed fiscal month.
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Related to Liquidation Multiple

  • Second Liquidation Target Amount has the meaning assigned to such term in Section 6.1(c)(i)(E).

  • First Liquidation Target Amount has the meaning assigned to such term in Section 6.1(c)(i)(D).

  • Net Liquidation Percentage means the percentage of the book value of Borrowers’ Inventory that is estimated to be recoverable in an orderly liquidation of such Inventory net of all associated costs and expenses of such liquidation, such percentage to be as determined from time to time by an appraisal company selected by Agent.

  • Liquidation Amount means $1,000 per share of Designated Preferred Stock.

  • Liquidation Preference Amount means $25,000 per share of Series A Preferred Stock.

  • Dissolution Distribution Amount means the Trustee Call Amount, the Capital Event Redemption Amount or the Tax Event Redemption Amount, as the case may be, or such other amount in the nature of a redemption amount as may be determined in accordance with these Conditions;

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Tradeable Shares that are Outstanding on the Distribution Date pursuant to Section 5.2(a).

  • Liquidation Distribution has the meaning specified in Section 9.4(d).

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Quarterly Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within 45 days of the end of a calendar quarter, the first Quarterly Distribution Date will be the last Business Day of the month following the end of the first calendar quarter after the calendar quarter in which the Effective Date falls.

  • Class Prepayment Distribution Trigger For a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balance of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.

  • Liquidation Parity Stock means any class or series of stock of the Corporation (other than the Series L Preferred Stock) that ranks equally with the Series L Preferred Stock in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Liquidation Date means (a) in the case of an event giving rise to the dissolution of the Partnership of the type described in clauses (a) and (b) of the first sentence of Section 12.2, the date on which the applicable time period during which the holders of Outstanding Units have the right to elect to continue the business of the Partnership has expired without such an election being made, and (b) in the case of any other event giving rise to the dissolution of the Partnership, the date on which such event occurs.

  • Liquidation Preference means, with respect to any Series, the amount specified as the liquidation preference per share for that Series in the Appendix for such Series.

  • REMIC IV Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of REMIC IV Regular Interests; and

  • Monthly Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions" in the Prospectus Part I for a Trust.

  • Liquidation Price means the price at which the Trustee sells the Underlying Securities.

  • Preference Amount means any amount previously distributed to an Owner on the Obligations that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code (11 U.S.C.), as amended from time to time, in accordance with a final nonappealable order of a court having competent jurisdiction.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Series A Liquidation Preference means a liquidation preference for each Series A Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series A Preferred Unit amount of any accumulated and unpaid Series A Distributions (whether or not such distributions shall have been declared).

  • Regular Distribution Dates means each April 1 and October 1, commencing on April 1, 2016; provided, however, that, if any such day shall not be a Business Day, the related distribution shall be made on the next succeeding Business Day without additional interest.