Performance Pricing Period definition

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 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 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 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 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 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 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 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.
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 day of the month following the day that Borrower provides to Bank a written report that Borrower has achieved EBITDA, measured on a trailing three month basis for two consecutive monthly periods, as determined by Bank in its reasonable discretion, in an amount equal to or greater than Two Hundred Fifty Thousand Dollars ($250,000) (the “Performance Pricing Threshold”); and (b) terminating on the earlier to occur of (i) the occurrence of an Event of Default, and (ii) the first day of any month thereafter in which Borrower fails to achieve the Performance Pricing Threshold, as determined by Bank in its reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must achieve the Performance Pricing Threshold for two subsequent consecutive monthly reporting periods as determined by Bank in its reasonable discretion, prior to entering into a subsequent Performance Pricing Period. Each such Performance Pricing Period shall commence on the first day of the monthly period following the date Bank receives the written report of Borrower referred to in clause (a) of this definition, subject to the determination by Bank, in its reasonable discretion, that the Performance Pricing Threshold has been achieved.
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, on and after the Effective Date, provided no Default or Event of Default has occurred and is continuing, the period (i) beginning on the first (1st) day in which Borrower has, for each consecutive day in the immediately preceding thirty (30) day period, maintained unrestricted cash at Bank plus the Availability Amount, as determined by Bank, in its sole discretion, in an amount at all times greater than Five Million Dollars ($5,000,000), in each case as determined by Bank, in its reasonable discretion (the “Performance Pricing Balance”); and (ii) ending on the earlier to occur of (A) the occurrence of a Default or an Event of Default; and (B) the first day thereafter in which Borrower fails to maintain the Performance Pricing Balance, as determined by Bank, in its reasonable discretion. Upon the termination of a Performance Pricing Period, Borrower must maintain the Performance Pricing Balance each day for thirty (30) consecutive days, 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 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.
Performance Pricing Period is the period of time commencing upon the first anniversary of the Second Amendment Effective Date and continuing thereafter.”