Minimum Liquidity Period definition

Minimum Liquidity Period means each period, if any, commencing on the date that the Liquidity is less than the Minimum Liquidity and ending on (but not including) the date, if any, that the Liquidity is no longer less than the Minimum Liquidity.
Sample 1Sample 2Sample 3
Minimum Liquidity Period means the period commencing on the Closing Date and ending on the earlier of (a) June 30, 2022 and (y) the first business day after the Administrative Agent receives written notice from the Top Borrower electing to terminate the Minimum Liquidity Period; provided that, in the case of this clause (y), the Administrative Agent shall have received the financial statements referred to in Sections 6.01(a) and (b) and a duly completed Compliance Certificate as set forth in Section 6.02(b) demonstrating compliance, on a Pro Forma Basis, with the financial covenants set forth in Sections 7.10(b) and 7.10(c) as of the last day of the applicable reporting period (as if the Leverage Test Period had commenced prior to the end of such reporting period). Notwithstanding anything to the contrary herein, as of the Amendment No. 3 Effective Date, the Minimum Liquidity Period is no longer in effect.
Sample 1Sample 2
Minimum Liquidity Period means the period commencing on the Closing Date and ending on the earlier of (a) June 30, 2022 and (y) the first business day after the Administrative Agent receives written notice from the Borrower electing to terminate the Minimum Liquidity Period; provided that, in the case of this clause (y), the Administrative Agent shall have received the financial statements referred to in Sections 6.01(a) and (b) and a duly completed Compliance Certificate as set forth in Section 6.02(b) demonstrating compliance, on a Pro Forma Basis, with the financial covenants set forth in Sections 7.10(b) and 7.10(c) as of the last day of the applicable reporting period (as if the Leverage Test Period had commenced prior to the end of such reporting period).
Sample 1

Examples of Minimum Liquidity Period in a sentence

  • The Servicer may, in its sole discretion, and shall at the direction of the Administrator or any Purchaser Agent (which direction may be given no more than once per week unless a Termination Event has occurred and is continuing), deliver an Interim Report to the Administrator on any Business Day during a Minimum Liquidity Period.

  • On May 15, 2020, the Group’s banking syndicate approved an Amendment to the Credit Facility Agreement (“the Amendment”) for the purposes of calculating the bank covenants with the condition to maintain a minimum of $50.0 million in available liquidity, to include cash, short-term investments, and undrawn credit facility over the Minimum Liquidity Period of May 15, 2020 to December 31, 2021.


More Definitions of Minimum Liquidity Period

Minimum Liquidity Period means the 91-day period prior to the 2025 Convertible Notes Termination Date. “Multiemployer Plan” shall mean a Plan that is a “multiemployer plan” as defined in Sections 3(37) and 4001(a)(3) of ERISA. “Multiple Employer Plan” shall mean a Plan that has two or more contributing sponsors (including any Loan Party or any member of the Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. “Net Cash Proceeds” means, with respect to the sale or disposition of any asset by a Person or a Casualty Event, the sum of cash and Cash Equivalent received by such Person in connection with such sale, disposition, or Casualty Event less (i) the reasonable fees, commissions, and expenses related thereto and required to be paid by such Person in connection with such sale or disposition, less (ii) all taxes paid or reasonably estimated to be payable in connection with such sale or disposition to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Loan Party or any of its Subsidiaries, and are properly attributable to such transaction, less (iii) any reserve for adjustment in respect of (x) the sale price of the property that is the subject of such sale or disposition established in accordance with GAAP and (y) any liabilities associated with such property or asset and retained by such Person after such sale or disposition, to the extent that in each case the funds described above in this clause (iii) are (x) deposited into escrow with a third party escrow agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with Section 2.14 of this Agreement at such time when such 26
Sample 1
Minimum Liquidity Period means the 91-day period prior to the 2025 Convertible Notes Termination Date.
Sample 1
Minimum Liquidity Period means any period (a) commencing when Total Liquidity for any consecutive three day calendar period is less than $20.0 million and (b) ending after Total Liquidity is at least $20.0 million for a period of 30 consecutive days.”
Sample 1
Minimum Liquidity Period means each period, if any, commencing on the date that the Liquidity is less than the Minimum Liquidity and ending on (but not including) the date, if any, that the Liquidity is no longer less than the Minimum Liquidity. ​
Sample 1

Related to Minimum Liquidity Period

  • Minimum Liquidity has the meaning given in Clause 11.19;

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Facility Period means the period beginning on the date of this Agreement and ending on the date when the whole of the Indebtedness has been repaid in full and the Security Parties have ceased to be under any further actual or contingent liability to the Finance Parties under or in connection with the Finance Documents.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Availability Period means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments.

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • Minimum Term means, in respect of this Agreement, the period of 12 months beginning on the Effective Date;

  • Penalty Period has the meaning set forth in Section 6.3.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Eligibility period means the period in which a business may

  • Minimum Collateral Amount means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Commitment Period means the period commencing on the earlier to occur of (i) the Effective Date, or (ii) such earlier date as the Company and the Investor may mutually agree in writing, and expiring on the earliest to occur of (x) the date on which the Investor shall have made payment of Advances pursuant to this Agreement in the aggregate amount of the Commitment Amount, (y) the date this Agreement is terminated pursuant to Section 10.2 or (z) the date occurring thirty-six (36) months after the Effective Date.

  • Revolving Commitment Termination Date means the earliest of (i) July 31, 2018, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.8 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise).

  • Benchmark Unavailability Period means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14 and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14.

  • Credit allowance date means with respect to any qualified equity investment:

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.