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, 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.

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.

  • 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.

  • 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.

  • H-1*This TOP supersedes TOP 10-2-022A, dated 6 January 2014.Distribution Statement A: Approved for public release; distribution unlimited.

  • For purposes of clarity, and by way of example, if a Liquidity Trigger Event shall occur on April 15, 2007, the first Liquidity Trigger Period shall be from April 15, 2007 through and including July 14, 2007, during which time all financial covenants above must be complied with by Borrowers.


More Definitions of 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).
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 that appears in Schedule 1.1 to the Credit Agreements is hereby amended to read in its entirety as follows:
Liquidity Trigger Event means the occurrence of any of the following: (i) Borrowers fail to maintain at least $2,000,000 of Liquidity at any time during the period commencing on the Fifth Amendment Effective Date through (and including) July 31, 2016; (ii) Borrowers fail to maintain at least $3,000,000 of Liquidity at any time during the period commencing on August 1, 2016 and continuing at all times thereafter; (iii) Borrowers fail to maintain at least $4,000,000 of Liquidity as of the last day of the first calendar month of each fiscal quarter during the period commencing on the Fifth Amendment Effective Date through (and including) July 31, 2016; (iv) Borrowers fail to maintain at least $5,000,000 of Liquidity as of the last day of the first calendar month of each fiscal quarter during the period commencing on August 1, 2016 and continuing thereafter; (v) Borrowers fail to maintain at least $9,000,000 of Liquidity as of the last day of each fiscal quarter during the period commencing on the Fifth Amendment Effective Date through (and including) July 31, 2016; or (vi) Borrowers fail to maintain at least $10,000,000 of Liquidity as of the last day of each fiscal quarter during the period commencing August 1, 2016 and continuing thereafter.
Liquidity Trigger Event means the determination by Lender that the sum of (a) the aggregate dollar value of the Preferred Stock Portfolio plus (b) the aggregate amount of cash and Cash Equivalents in the Cash Investment Accounts, is less than $35,000,000; it being understood that Lender shall only require one deposit of cash collateral pursuant to Section 9.20 of this Agreement regardless of the number of Liquidity Trigger Events that occur during the term of this Agreement.