Liquidity Condition definition

Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

Liquidity Condition means and will exist during the period from (1) the date on which Excess Availability has been less than the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for five consecutive Business Days, to (2) the date on which Excess Availability has been at least equal to the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for 20 consecutive calendar days.

Liquidity Condition means, at any time, the sum of (x) unrestricted cash and Cash Equivalents of the Albertson’s Group (including cash restricted in favor of the Lenders and/or the lenders under the ABL Facility) and (y) undrawn and then available amounts under the ABL Facility, to the extent such sum equals or exceeds $450,000,000.

Examples of Liquidity Condition in a sentence

• If the Liquidity Condition is satisfied following the giving of any Series A Preference Unit Conversion Opportunity Notice, the conversion will become effective and the Series A Preference Unit Preference Period will end as of the date of the Series A Preference Unit Conversion Opportunity Notice.

• If the holders of at least a majority of the outstanding Series A Preference Units elect to convert following the giving of any Series A Preference Unit Conversion Opportunity Notice, but the Liquidity Condition is not satisfied, the Series A Preference Unit Preference Period shall not end.

• If the Liquidity Condition is not satisfied following the giving of any Series A Preference Unit Conversion Opportunity Notice and the holders of less than a majority of the outstanding Series A Preference Units elect to convert, no Series A Preference Units will be converted and the Series A Preference Unit Preference Period will end as of the date of such Series A Preference Unit Conversion Opportunity Notice.

• On the Effective Date, in full and final satisfaction, settlement, release, and discharge of and in exchange for the ROC Secured Note Claims, each Holder of the ROC Secured Note Claims shall receive its Pro Rata share of (a) 68.60% of the Reorganized ROC Units, subject to dilution by the MIP Equity, and (b) to the extent the Minimum Liquidity Condition is satisfied, the Secured Notes Interest Payment (or any portion thereof) that may be paid while still satisfying the Minimum Liquidity Condition.

• In the event any portion of the Secured Notes Interest Payment is not permitted to be paid on the Effective Date because the Minimum Liquidity Condition is not satisfied, then such portion shall be deemed discharged or otherwise extinguished on the Effective Date.

More Definitions of Liquidity Condition

Liquidity Condition means that, on any date of determination, the Borrower has Liquidity of not less than the sum of (x) $250,000,000 and (y) the aggregate outstanding principal amount of all Maturing Senior Notes on such date of determination, at least $150,000,000 of which Liquidity is comprised of Aggregate Facility Availability.

Liquidity Condition means, as of any time of determination, that the sum of (a) cash and Cash Equivalents (other than Restricted Cash) of Parent and its Restricted Subsidiaries at such time plus (b) the aggregate amount of unused Revolving Credit Commitments at such time shall be no less than $250 million.

Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Bank is not obligated to purchase Adjustable Rate Bonds and, accordingly, such Bonds are not subject to tender for purchase.

Liquidity Condition has the meaning specified in the definition of “Liquidity Period.”

Liquidity Condition means, on any date, after giving pro forma effect to any Specified Transaction to occur on such date, that the sum of the aggregate unused and available Revolving Credit Commitments and unrestricted cash on hand at Parent and its subsidiaries would exceed $250,000,000.

Liquidity Condition means the requirement that, at the end of the 90-day period following the Series A Preference Unit Conversion Date (or, if applicable, the first or second anniversary thereof), after giving effect to the conversion of all Series A Preference Units as to which a Series A Preference Unit Conversion Election Notice has been timely received by the General Partner, there would be at least 2,000 holders of 100 or more Series A Common Units.

Liquidity Condition means a Suspension Event or a Special Event of Default.