Liquidity Shortfall definition

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

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Liquidity Shortfall means, with respect to

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).

Examples of Liquidity Shortfall in a sentence

The Liquidity Facility is only available to be drawn to meet any Liquidity Shortfall in relation to the Trust.
If the Company’s monthly management-prepared projections indicate a negative cash position (a “Liquidity Shortfall”) in any month ending on or prior to December 31, 2018 (a “Shortfall Month”), then the Company shall issue, prior to the commencement of such Shortfall Month, Equity Interests not constituting Disqualified Equity Interests and/or incur Subordinated Funding resulting in Equity Proceeds in an amount at least equal to the Liquidity Shortfall.
The occurrence of a Level 1 Liquidity Shortfall or Level 2 Liquidity Shortfall.
The Escrow Agent shall have no responsibility under this Agreement except for the investment and disbursement of the funds described herein.
For the avoidance of doubt, an Initial Funding 1 Liquidity Facility Drawing may only be applied to meet an Initial Funding 1 Liquidity Shortfall and a Further Funding 1 Liquidity Facility Drawing may only be applied to meet a Further Funding 1 Liquidity Shortfall.

More Definitions of Liquidity Shortfall

Liquidity Shortfall means each situation, where the bank:

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 ▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇ 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 means in relation to an Interest Payment Date:

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

Liquidity Shortfall means, in relation to a Collection Period, the amount (if any) by which the Total Payments for the Collection Period exceed the aggregate of the Available Income and any Principal Draws for the Collection Period.