Liquidity Trigger Event definition

Liquidity Trigger Event means an event that occurs when Liquidity is below $15,000,000 and continues until such time as Liquidity is greater than $15,000,000.

Liquidity Trigger Event means any time at which Overall Excess Availability is less than the Excess Availability Minimum Amount. The cessation of any Liquidity Trigger Event shall not impair the commencement of any subsequent Liquidity Trigger Event.

Liquidity Trigger Event means the first to occur of (1) an Event of Default (y) arising out of a breach of Section 7.25 or (z) under Section 9.1 (a), or (2) acceleration of the Loans pursuant to Section 9.2 (a)(B).

Examples of Liquidity Trigger Event in a sentence

• The occurrence of each Event of Default, each Potential Event of Default, each Termination Event and each Liquidity Trigger Event, by a statement of the president, executive vice president, chief executive officer or chief financial officer of such GWG Party.

• The Agent shall not be deemed to have knowledge of any Event of Default, Master Servicer Default, Termination Event, or Liquidity Trigger Event or any event which, with the giving of notice or the passage of time, or both, would constitute an Event of Default, Master Servicer Default, Termination Event or Liquidity Trigger Event, unless the Agent has received notice from the Borrower, the Master Servicer or a Secured Party.

• In the event that a Liquidity Trigger Event has occurred, Borrower shall also deliver as part of the Loan Request (a) the specific items for which such advance is requested and the amount thereof, (b) an identification of where such requested items fit within the waterfall set forth in §7.23(d), and (c) evidence satisfactory to the Agent that all other items of higher priority set forth in the waterfall in §7.23(d) have been paid for the month to which such requested advance relates.

• If on September 30, 2007 (i) a Liquidity Trigger Event has not occurred as of such date and (ii) no Default or Event of Default has occurred (including, without limitation, a breach of the foregoing financial covenants as tested on September 30, 2007), the financial covenants set forth in this Annex G will be temporarily suspended as of the next Fiscal Quarter ended December 31, 2007.

• As long as the Liquidity Trigger Event is not removal of BGO Manager for a Bad Act, such efforts may include one or more investors with which BGO Manager or its Affiliates have a relationship and investment history.

More Definitions of Liquidity Trigger Event

Liquidity Trigger Event means the occurrence of any of the following: (a) at any time prior to March 1, 2013, the Borrowing Base Surplus is less than the Six-Month Cushion, (b) at any time on or after March 1, 2013 but prior to September 1, 2013, the Borrowing Base Surplus is less than the Nine-Month Cushion or (c) at any time on or after September 1, 2013, the Borrowing Base Surplus is less than the Twelve-Month Cushion.

Liquidity Trigger Event has the meaning set forth in Section 9.08.

Liquidity Trigger Event means the occurrence of any of the following: (a) at any time prior to March 1, 2013, the Borrowing Base Surplus is less than the Six-Month Cushion, (b) at any time on or after March 1, 2013 but prior to September 1, 2013, the Borrowing Base Surplus is less than the Nine- Month Cushion or (c) at any time on or after September 1, 2013, the Borrowing Base Surplus is less than the Twelve-Month Cushion.

Liquidity Trigger Event means, any date on which, either before or after giving effect to Borrowings requested or deemed requested on such date, Availability is less than $40,000,000. A Liquidity Trigger Event shall be deemed to have occurred and be continuing from the occurrence of such Liquidity Trigger Event up to but not including the first date upon which a Liquidity Release Event occurs following such Liquidity Trigger Event.

Liquidity Trigger Event set forth in Section 1.1 to the Credit Agreements to read in its entirety as follows:

Liquidity Trigger Event. A Liquidity Trigger Event shall be deemed to have occurred if at any time the Liquidity of Borrower shall be less than $6,000,000.00 and such deficiency is not cured by the infusion of new Subordinate Debt within fifteen days of such occurrence; provided if thereafter the Borrower shall deliver evidence reasonably satisfactory to Agent that Liquidity is equal to or greater than $6,000,000.00, then such Liquidity Trigger Event shall terminate until Liquidity shall thereafter be less than $6,000,000.00.

Liquidity Trigger Event means the occurrence of an event where more than 15% of the aggregate principal balance of the Mortgages comprised in the Mortgage Pool on the immediately preceding Determination Date comprise Mortgages in respect of which there are arrears equal to or greater than an amount equal to the then current scheduled monthly payment due under the relevant Mortgage multiplied by three.