Liquidity Test Date definition

Liquidity Test Date means, starting with 31 October 2023, the last Business Day of each calendar month.

Liquidity Test Date has the meaning set forth in Section 7.11.

Liquidity Test Date the last Friday of each calendar month (commencing with the calendar month ending July 31, 2023).

Examples of Liquidity Test Date in a sentence

• As of any Minimum Liquidity Test Date, permit the Free Liquidity to be less than $2,500,000.

• No later than the Minimum Liquidity Test Date, the Debtors shall determine the aggregate dollar amount of proceeds received from Equity Holder Rights Offering Participants under the Equity Holder Cash-Out Subscription and aggregate Equity Holder Cash-Out Amounts elected by Holders in Class 8.

• If, after giving effect to the foregoing recalculation, the requirements of Section 6.16(a) would be satisfied, then the requirements of Section 6.16(a) shall be deemed satisfied as of the relevant Liquidity Test Date with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of Section 6.16(a) that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement.

• If the financial advisors to the Debtors and the financial advisors to the Backstop Participants are unable to reach agreement on the Minimum Liquidity Test Date as to the determinations in (1) and (2) above, then the parties shall seek a determination as to any such dispute from the Bankruptcy Court on the next Business Day after the Minimum Liquidity Test Date, to be heard on an expedited basis such that the Plan Effective Date shall not be delayed.

• On the Minimum Liquidity Test Date, the financial advisors to the Debtors and the financial advisors to the Backstop Participants shall make a determination as to (1) whether the Minimum Liquidity Test is satisfied and (2) if not, whether the issuance of Incremental Liquidity Shares in any amount up to an aggregate of $25 million (in $1 million increments) would enable Reorganized Key to have Minimum Liquidity on the Effective Date.

More Definitions of Liquidity Test Date

Liquidity Test Date means the last day of each fiscal quarter in each fiscal year of the Issuer; and

Liquidity Test Date means January 16, 2009.

Liquidity Test Date means (i) the last day of each calendar month (commencing with the month ended February 28, 2023) ending on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date, (ii) each day on which a Credit Extension is made (other than a conversion of Loans to the other Type, or a continuation of Term SOFR Loans or Eurocurrency Rate Loans) on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date and (iii) any other date on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date that the Administrative Agent may request from time to time, upon no less than two Business Days’ notice by the Administrative Agent to the Borrower.

Liquidity Test Date means (i) the last day of each calendar month (commencing with the month ended February 28, 2023) ending on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date, (ii) each day on which a Credit Extension is made (other than a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans) on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date and (iii) any other date on or following the Amendment No. 1 Effective Date and on or prior to the Covenant Relief Period End Date that the Administrative Agent may request from time to time, upon no less than two Business Days’ notice by the Administrative Agent to the Borrower.

Liquidity Test Date means each of (i) August 31, 2020 and (ii) thereafter, the 15th day of each calendar month and the last day of each calendar month.

Liquidity Test Date shall have the meaning specified in Section 5.05(b).

Liquidity Test Date. “PIK Amount” and “PIK Interest” are added to Annex A in appropriate alphabetical order reading as follows: