Liquidity Shortfall definition

Liquidity Shortfall means each situation, where the bank:

Liquidity Shortfall. ’ means, with respect to any Interest Payment Date, the aggregate of:

Liquidity Shortfall means, with respect to

Examples of Liquidity Shortfall in a sentence

• If the Trust Manager determines on any Determination Date that there will be a Liquidity Shortfall on the following Payment Date, then the Trust Manager must direct the Trustee to make a drawing under the Liquidity Facility to apply towards the Liquidity Shortfall.

• The drawing will (subject to certain assumptions as to payment) be the lesser of the Liquidity Shortfall and the difference between the Liquidity Limit and the aggregate of all outstanding amounts under the Liquidity Facility (the Available Liquidity Amount).

• The Borrower Liquidity Facility Provider has provided a 364 day commitment (which may be renewed) to permit drawings where there will be insufficient funds available: (1) to pay amounts scheduled to be paid under outstanding Treasury Transactions under any Borrower Hedging Agreement and (2) to fund any EIB Liquidity Shortfall.

• Instead, any such outstanding Cash Deposit will be returned to the Liquidity Facility Provider, except to the extent that the Liquidity Facility Agreement requires it to be applied to satisfy any Remaining Net Liquidity Shortfall in accordance with the Liquidity Facility Agreement.

• Following a Liquidity Shortfall Date, each Business Day on which the Liquidity Shortfall Amount is zero.

More Definitions of Liquidity Shortfall

Liquidity Shortfall means (after taking into account any funds available for drawing from the Issuer Liquidity Reserve Account) with respect to any Interest Payment Date and (as determined by the Issuer Cash Manager on the Business Day immediately preceding the Issuer Determination Date) there will be insufficient funds (following any requisite exchange of any sterling amounts into euro or U.S. dollars pursuant to the Cross Currency Hedging Agreements) in the Issuer Sterling Account to pay on such Interest Payment Date any of the amounts scheduled to be paid in respect of items (a) — (g) (inclusive) of the Issuer Pre-Enforcement Priority of Payments (excluding, for the avoidance of doubt, any termination payments and all other unscheduled amounts payable to any Issuer Hedge Counterparty).

Liquidity Shortfall means, on a Calculation Date, the difference between (a) all amounts to be paid by the Issuer in respect of items (a) to (j) (inclusive) (but excluding payments to be made in items (e), (g) and (i)) of the Interest Priority of Payments on the next following Payment Date and (b) the Available Interest Funds (including any L/C Drawing or any L/C Reserve Drawing but excluding any Liquidity Drawing or any Liquidity Reserve Drawing that may, in either case, be made on the next following Payment Date) on that Calculation Date;

Liquidity Shortfall shall exist and be continuing at any time that the sum of the following does not equal or exceed $7,500,000: (a) cash of the Parent or any of its Subsidiaries that is then in the deposit accounts of the Parent or any of such Subsidiaries (excluding any amounts then on deposit in any Collection Account except, at any time that the Administrative Agent is exercising exclusive control and dominion over the Collection Accounts, to the extent that such amounts on deposit therein exceed the aggregate amount expected to be paid pursuant to clauses (i) through (iv) of Section 3.01(a) on the next Settlement Date (as reasonably estimated by the Administrative Agent)), plus (b) the amount (if any) then available to be borrowed by Xxxxxxx in cash pursuant to the First Lien Credit Agreement to the extent that all conditions precedent to such borrowing (including any requirement to pledge or post collateral, to satisfy borrowing base requirements, to ensure that Xxxxxxx and its Affiliates are in compliance with all relevant financial covenants before and after giving effect to such borrowing and that no event of default or unmatured event of default exists or would result from such borrowing) are then satisfied, other than any requirement that Xxxxxxx deliver a borrowing request or any similar and customary notice or certification required to initiate such a borrowing, plus (c) so long as all of the conditions to funding a Loan pursuant to this Agreement are then satisfied, the excess, if any, of (i) the lesser of (x) the Borrowing Base at such time and (y) the Facility Limit at such time, over (ii) Aggregate Capital at such time.

Liquidity Shortfall means that the sum of (i) the Company’s consolidated cash and cash equivalents plus (ii) unborrowed capacity under the Credit Agreement is less than and is reasonably projected by either the Company or the Purchaser to remain below $50 million for the ensuing three consecutive months.

Liquidity Shortfall has the meaning given to that term in the relevant Supplemental Deed.

Liquidity Shortfall means in relation to an Interest Payment Date:

Liquidity Shortfall has the meaning set forth in the Initial Senior Secured Facility Agreements in the form on the date of this Agreement.