Liquidity Test Date definition

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).

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

Examples of Liquidity Test Date in a sentence

• During the Liquidity Period, no later than 3 Business Days after each Liquidity Test Date, a calculation of Liquidity (determined in good faith by the Borrower) (the “Liquidity Calculation”), as of such Liquidity Test Date.

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

• Solely during the Financial Covenant Relief Period, permit Liquidity to be less than $300,000,000 as of any Liquidity Test Date.

• 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.

• Notwithstanding anything to the contrary in this Indenture, the Issuer shall ensure that on each Liquidity Test Date, beginning in the fiscal quarter ending on December 31, 2023, the Available Liquidity (as shown in the relevant Liquidity Compliance Certificate) is not less than £50.0 million (the “ Minimum Liquidity Threshold”).

More Definitions of Liquidity Test Date

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

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

Liquidity Test Date means January 16, 2009.

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

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.