Liquidity Period means any period throughout which (a) a Liquidity Event has occurred and is continuing or (b) a Specified Event of Default has occurred and is continuing.
Liquidity Period means (a) any period commencing on the date Availability shall have been less than the greater of (i) 10.0% of the Line Cap and (ii) $75,000,000, in either case for five consecutive Business Days, in each case ending on the date Availability shall have been at least equal to the greater of (i) 10.0% of the Line Cap and (ii) $75,000,000 for 30 consecutive calendar days (this clause (a), a “Liquidity Condition”) or (b) the period that any Specified Default have occurred and shall be continuing.
Liquidity Period will mean the period beginning on the date hereof and terminating on the first to occur of (i) the date the Letters of Credit terminate, (ii) the first date on which there are no longer any Bonds Outstanding other than Bonds secured by an Alternate Letter of Credit, and (iii) the date the Liquidity Period is terminated pursuant to Section 11.
Examples of Liquidity Period in a sentence
Subject to Section 7.02, upon delivery of a written notice to the Lead Borrower from the Administrative Agent that specifies that “cash dominion” is being instituted, the ledger balance in the Dominion Account as of the end of a Business Day shall be applied to reduce any outstanding Revolver Loans at the beginning of the next Business Day during any Liquidity Period.
During a Liquidity Period, each Borrower irrevocably waives the right to direct the application of any payments or Collateral proceeds in the Dominion Account or any Deposit Account subject to a Deposit Account Control Agreement, and agrees that the Administrative Agent shall have the continuing, exclusive right during such Liquidity Period to apply and reapply the same against any outstanding Revolver Loans, in accordance with the terms of this Agreement and the other Loan Documents.
More Definitions of Liquidity Period
Liquidity Period means the period from the date that (a) an event of default has occurred and is continuing or (b) (i) the Excess Availability Percentage is less than 12.5% or (ii) Excess Availability is less than $300 million, in the case of this clause (b), for 3 consecutive business days, until the date that the Excess Availability Percentage (or Excess Availability) has been equal to or greater than the percentage or amount described in clause (b) for 30 consecutive days and no event of default is continuing.
Liquidity Period means any period commencing on any day that (i) any Event of Default shall have occurred and be continuing, (ii) Availability shall be less than the greater of (x) $14,062,500 and (y) 15% of the Maximum Revolving Credit for a period of five (5) consecutive Business Days or (iii) Availability shall less than the greater of (x) $11,718,750 and (y) 12.5% of the Maximum Revolving Credit on any Business Day, which period shall terminate on the date on which Availability has exceeded $14,062,500 for a period of 30 consecutive calendar days.
Liquidity Period means the period from the date that is six months prior to the maturity date of the 2017 Notes until the date immediately after payment in full of the 2017 Notes; provided that if the 2017 Notes are paid in full or converted into Capital Stock (other than Disqualified Stock) more than six months prior to the maturity date of the 2017 Notes, no Liquidity Period shall occur.
Liquidity Period any period throughout which (a) a Liquidity Event has occurred and is continuing or (b) a Specified Event of Default has occurred and is continuing. Loan Account: the loan account established by each Lender on its books pursuant to Section 5.7.
Liquidity Period means the period commencing on the Listing Date to 30 calendar days thereafter (both days inclusive);
Liquidity Period means any period (a) beginning on the date on which Availability shall have been less than the greater of (i) 10% of the Line Cap and (ii)(A) $32,500,000 if calculated from January 1 to July 31 of any year and (B) $20,000,000 if calculated from August 1 to December 31 of any year, in each case for each day during a period of five (5) consecutive Business Days, and (b) ending on the date on which Availability is equal to or greater than the greater of (i) 10% of the Line Cap and (ii)(A) $32,500,000 if calculated from January 1 to July 31 of any year and (B) $20,000,000 if calculated from August 1 to December 31 of each year, for each day during a period of thirty (30) consecutive calendar days.
Liquidity Period means (a) the period beginning on the first date on which the Excess Availability for the immediately preceding ninety (90) calendar days shall have been less than thirty percent (30%) of the Maximum Credit and ending on the date on which the Excess Availability for the immediately preceding ninety (90) calendar days shall have been greater than or equal to thirty percent (30%) of the Maximum Credit or (b) the period during which a Default or Event of Default shall have occurred and be continuing.”