Performance Pricing Period is, provided no Event of Default has occurred and is continuing, the period (i) commencing on the first (1st) day of the month following the Subject Month in which Borrower reports, for such Subject Month that Borrower has maintained its Leverage Ratio in an amount at all times equal to or less than 2.00:1.00, as confirmed by Bank, in good faith (the “Performance Pricing Threshold”); and (ii) terminating on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and (B) the first (1st) day of the month following the Subject Month in which Borrower fails to maintain the Performance Pricing Threshold, as determined by Bank, in its reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Performance Pricing Threshold each consecutive day for a complete Subject Month, as determined by Bank, in good faith, prior to entering into a subsequent Performance Pricing Period. Borrower shall give Bank prior-written notice of Borrower’s intention to enter into any such Performance Pricing Period.
Performance Pricing Period is, provided no Event of Default has occurred and is continuing, the period (i) commencing on the first (1st) day of the month following the Subject Month in which GTTI reports, for such Subject Month that GTTI and its direct and indirect Subsidiaries has maintained a Senior Leverage Ratio in an amount at all times equal to or less than 2.00:1.00, as confirmed by Bank, in good faith (the “Performance Pricing Threshold”); and (ii) terminating on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and (B) the first (1st) day of the month following the Subject Month in which Borrower fails to maintain the Performance Pricing Threshold, as determined by Bank, in its reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Performance Pricing Threshold each consecutive day for a complete Subject Month, as determined by Bank, in good faith, prior to entering into a subsequent Performance Pricing Period. Borrower shall give Bank prior-written notice of Borrower’s intention to enter into any such Performance Pricing Period.
Performance Pricing Period is, provided no Default has occurred and is continuing, the period commencing on the first day of the month following the date in which Borrower reports that Borrower’s EBITDA, measured on a trailing three-month basis, is greater than One Hundred Fifty Thousand Dollars ($150,000), and terminating on the earlier to occur of (i) the occurrence of a Default and (ii) the first day of the month in which Borrower reports, or Bank otherwise determines, in its sole discretion, that Borrower’s EBITDA, measured on a trailing three-month basis, is equal to or less than One Hundred Fifty Thousand Dollars ($150,000). All reports of EBITDA made by Borrower to Bank shall be in form and substance acceptable to Bank, in its sole discretion. Borrower shall provide Bank written notice of its intent to enter into a Performance Pricing Period.
Examples of Performance Pricing Period in a sentence
Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus two percent (2.00%); provided, however, during a Performance Pricing Period, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one percent (1.00%).
Subject to Section 2.3(b), the principal amount outstanding under the Term Loan shall accrue interest at a floating per annum rate equal to the Prime Rate plus three and three-quarters percent (3.75%) provided, however, during a Performance Pricing Period, the principal amount outstanding under the Term Loan shall accrue interest at a floating per annum rate equal to the Prime Rate plus two and three-quarters percent (2.75%), which interest shall in any event be payable monthly.
Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus two and three-quarters percent (2.75%); provided, however, during a Performance Pricing Period, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one and three-quarters percent (1.75%).
Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus the Applicable Margin; provided that during a Performance Pricing Period, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-quarter of one percent (0.25%), which interest shall in any event be payable monthly in accordance with Section 2.3(f) below.
Subject to Section 2.3(b), the principal amount outstanding under the Term Loan shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%)provided, however, during a Performance Pricing Period, the principal amount outstanding under the Term Loan shall accrue interest at a floating per annum rate equal to the Prime Rate plus two percent (2.00%), which interest shall in any event be payable monthly.
More Definitions of Performance Pricing Period
Performance Pricing Period is, provided no Event of Default has occurred and is continuing, the period (i) commencing on the first (1st) day of the month following the Subject Month in which Borrower reports, for such Subject Month that Borrower has maintained its Consolidated Total Leverage Ratio (as calculated on a trailing twelve month basis) in an amount equal to or less than 2.00:1.00, as confirmed by Required Purchasers, in good faith (the “Performance Pricing Threshold”); and (ii) terminating on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and (B) the first (1st) day of the month following the Subject Month in which Borrower fails to maintain the Performance Pricing Threshold, as determined by Required Purchasers, in their reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Performance Pricing Threshold each consecutive day for a complete Subject Month Ratio (as calculated on a trailing twelve month basis), as determined by Required Purchasers, in good faith, prior to entering into a subsequent Performance Pricing Period. Borrower shall give Purchasers prior-written notice of Borrower’s intention to enter into any such Performance Pricing Period.
Performance Pricing Period is the period (i) beginning on the first day of the month immediately following the date Borrower reports (A) [***] for the two previous consecutive fiscal quarters and (B) maintained an Adjusted Quick Ratio for the two previous consecutive fiscal quarters of [***]; and (ii) ending on the earlier to occur of (A) the occurrence of an Event of Default; (B) Borrower’s Adjusted Quick Ratio as of the end of any fiscal quarter is [***] or (C) Borrower’s Net Income for any fiscal quarter is [***], in each case as determined by Bank, in its sole discretion. ** CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND WILL BE FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST.
Performance Pricing Period appearing in Section 13.1 thereof. 14 The Loan Agreement shall be amended by deleting the following definitions, appearing in Section 13.1 thereof: “ “Revolving Line” is an aggregate principal amount equal to the sum of (a) Fifty Million Dollars ($50,000,000.00) and (b) upon and after any Increase Approval, the amount by which Borrower has requested the Revolving Line amount to increase in connection with such Increase Approval; provided that at no time shall the Revolving Line exceed Sixty Five Million Dollars ($65,000,000.00).” “ “Termination Fee Percentage” means for a termination by Borrower of this Agreement or the Revolving Line (a) prior to the second (2nd) anniversary of the Effective Date, one and one-half of one percent (1.50%), (b) on or after the second (2nd) anniversary of the Effective Date but prior to the third (3rd) anniversary of the Effective Date, three-quarters of one percent (0.75%), (c) on or after the third (3rd) anniversary of the Effective Date but prior to the fourth (4th) anniversary of the Effective Date, one-half of one percent (0.50%), and (d) on or after the fourth (4th) anniversary of the Effective Date, zero percent (0.0%).” and inserting in lieu thereof the following: “ “Revolving Line” is an aggregate principal amount equal to One Hundred Million Dollars ($100,000,000.00).” “ “Termination Fee Percentage” means for a termination by Borrower of this Agreement or the Revolving Line (a) prior to the First LMA Effective Date, one and one-half of one percent (1.50%), (b) on or after First LMA Effective Date but prior to the third (3rd) anniversary of the Effective Date, three-quarters of one percent (0.75%), (c) on or after the third (3rd) anniversary of the Effective Date but prior to the fourth (4th) anniversary of the Effective
Performance Pricing Period set forth in Section 1.1 of the Loan Agreement shall be deleted in its entirety.
Performance Pricing Period is, provided no Event of Default has occurred and is continuing, the period (i) commencing on the first (1st) day of the month following the Subject Month in which Borrower reports, for such Subject Month that Borrower has maintained its Leverage Ratio (as calculated on a trailing twelve month basis) in an amount equal to or less than 2.00:1.00, as confirmed by Purchaser, in good faith (the “Performance Pricing Threshold”); and (ii) terminating on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and (B) the first (1st) day of the month following the Subject Month in which Borrower fails to maintain the Performance Pricing Threshold, as determined by Purchaser, in its reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Performance Pricing Threshold each consecutive day for a complete Subject Month Ratio (as calculated on a trailing twelve month basis), as determined by Purchaser, in good faith, prior to entering into a subsequent Performance Pricing Period. Borrower shall give Purchaser prior-written notice of Borrower’s intention to enter into any such Performance Pricing Period.
Performance Pricing Period is, on and after the Effective Date, provided no Event of Default has occurred and is continuing, the period (a) commencing on the first (1st) day of the month following the day that Borrower provides to Bank a written report that Borrower has, has, at all times during the immediately preceding calendar quarter maintained Cash Liquidity, as determined by Bank in its sole discretion, in an amount equal to or greater than Twenty Million Dollars ($20,000,000.00) (the “Threshold Amount”); and (b) terminating on the earlier to occur of (i) the occurrence of an Event of Default, and (ii) the first (1st) day thereafter in which Borrower fails to maintain the Threshold Amount, as determined by Bank in its sole discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Threshold Amount each consecutive day for one (1) fiscal quarter as determined by Bank in its sole discretion, prior to entering into a subsequent Performance Pricing Period. Borrower shall give Bank prior written notice of Borrower’s election to enter into any such Performance Pricing Period, and each such Performance Pricing Period shall commence on the first (1st) day of the monthly period following the date Bank determines, in its sole discretion, that the Threshold Amount has been achieved.
Performance Pricing Period is any period (a) commencing on the first day of the month following any day that Borrower provides to Bank a written report, satisfactory to Bank in its reasonable discretion, that Borrower had L6M Adjusted EBITDA of at least One Dollar ($1.00) for each of six (6) consecutive months and (b) terminating upon the first day of the month following any three (3) month period thereafter with respect to which Borrower fails to maintain L6M Adjusted EBITDA of at least One Dollar ($1.00) for each month in such three (3) month period. Upon the termination of a Performance Pricing Period, Borrower must satisfy the requirements set forth in subclause (a) of the preceding sentence for a subsequent six (6) consecutive month period prior to entering into a subsequent Performance Pricing Period.