Reduced Availability Period shall have the meaning given such term in Section 5.08.
Reduced Availability Period means a period beginning on each day when the Available Amount is less than $500,000,000, and ending on the earliest succeeding day on which the Available Amount has been equal to or greater than $500,000,000 for thirty (30) consecutive days. As used herein, “Available Amount” means, at any time, an amount equal to (A) the lesser of (i) the Total First-Priority Commitment at such time and (ii) the Borrowing Base, minus (B) the sum of the aggregate principal amount of the outstanding Tranche A Loans, plus the aggregate principal amount of the outstanding Tranche B Loan, plus the LC Exposure.
Reduced Availability Period means any period (a) commencing on the date on which (i) Designated Cash is less than the Liquidity Threshold and (ii) the Fixed Charge Coverage Ratio for the most recently ended Test Period for which financial statements are available is less than 1.00:1.00 and (b) ending on the first date thereafter on which (i) Designated Cash is equal to or greater than the Liquidity Threshold or (ii) the Fixed Charge Coverage Ratio for the most recently ended Test Period for which financial statements are available is equal to or greater than 1.00:1.00.
Examples of Reduced Availability Period in a sentence
The Administrative Agent shall have received the most recent Borrowing Base Certificate (dated no more than 30 days (seven (7) days during a Reduced Availability Period) prior to the making of any Loan or the issuance of any Letter of Credit.
The Company will not permit the Fixed Charge Coverage Ratio for any period of four fiscal quarters ending during a Reduced Availability Period to be less than 1.00 to 1.00.
Palgrave: Basingstoke, pp.136-155.Confédération Générale du Travail (2000).
After November 1, 2000, no date for the making of a Loan or the issuance of a Letter of Credit occurs during a Reduced Availability Period.
Make Capital Expenditures during any Rolling Period in excess of $40,000,000; provided, that Capital Expenditures made in the absence of a Tier II Reduced Availably Period and which do not result in a Tier II Reduced Availability Period shall be excluded from the calculation of this covenant.
More Definitions of Reduced Availability Period
Reduced Availability Period means any period (a) commencing at any time when Availability shall be less than the greater of (i) 12.5% of the Line Cap and (ii) $40,000,000 and (b) ending when Availability shall have been greater than the greater of (i) 12.5% of the Line Cap then in effect and (ii) $40,000,000 for a period of 30 consecutive days.”
Reduced Availability Period means any period (a) commencing (i) at any time when Availability shall be less than 17.5% of the total Revolving Commitments then in effect or (ii) at any time when Availability shall have been less than 20% of the total Revolving Commitments then in effect for three consecutive Business Days and (b) ending when Availability shall have been greater than 22.5% of the total Revolving Commitments then in effect for a period of 60 consecutive days.
Reduced Availability Period means any period (a) commencing at any time when Availability shall be less than the greater of (i) the lesser of (A) 10.0% of the total Revolving Commitments then in effect and (B) 10% of the total Borrowing Base then in effect and (ii) $25,000,000 for three consecutive Business Days and (b) ending when Availability shall have been greater than the greater of (i) the lesser of (A) 12.5% of the total Revolving Commitments then in effect and (B) 12.5% of the total Borrowing Base then in effect and (ii) $30,000,000 for a period of 60 consecutive days.
Reduced Availability Period means any period for which (a) at the end of the last preceding Quarter, the Borrower did not maintain the Leverage Ratio required by Section 5.1(a) (Leverage Ratio) for such Quarter and (b) during such period, the Combined Availability does not exceed seventy-five million Dollars ($75,000,000) for four (4) or more consecutive Business Days. For the avoidance of doubt, it is understood and agreed that two Business Days shall be considered to be consecutive if one immediately follows the other or if such Business Days are separated solely by days that are not Business Days.
Reduced Availability Period means any period (a) commencing at any time when Availability shall be less than the greater of (i) 12.5% of the Line Cap and (ii) $55,000,00060,500,000 for five consecutive Business Days and (b) ending when Availability shall have been greater than the greater of (i) 12.5% of the Line Cap then in effect and (ii) $55,000,00060,500,000 for a period of 30 consecutive days.
Reduced Availability Period the period commencing on the date hereof and ending on the earlier to occur of (i) the date on which all of the IRB Consents have been received, in form and substance satisfactory to the Agent, and are in full force and effect, or (ii) the date on which the IRB Indebtedness is required to be repaid pursuant to subsection 8.18, provided that clause (ii) shall apply if the IRB Indebtedness is repaid in full on such date, but not otherwise.
Reduced Availability Period means (a) each period commencing on the last day of a fiscal quarter of the Parent Borrower as of which the Fixed Charge Coverage Ratio was less than the ratio set forth for such fiscal quarter in the table below and ending on the next date of delivery of financial statements of the Parent Borrower pursuant to Section 5.01(a) or (b) and the related certificate of a Financial Officer pursuant to Section 5.01(c) demonstrating that the Fixed Charge Coverage Ratio as of the last day of the fiscal period to which such financial statements relate is greater than or equal to the ratio set forth for such fiscal period in the table below and (b) each period commencing on any date on which the Borrowing Base in effect is less than $110,000,000 if, on the last day of the most recently completed fiscal quarter of the Parent Borrower ended on or prior to such date, the Fixed Charge Coverage Ratio was less than 1.10 to 1.00 and ending on the earlier of (x) the next date on which the Borrowing Base in effect equals or exceeds $110,000,000 and (y) the next date of delivery of financial statements of the Parent Borrower pursuant to Section 5.01(a) or (b) and the related certificate of a Financial Officer pursuant to section 5.01(c) demonstrating that the Fixed Charge Coverage Ratio as of the last day of the fiscal period to which such financial statements relate is greater than or equal to 1.10 to 1.00. Fiscal Quarter/Fiscal Period End Ratio September 30, 2004 0.95 to 1.00 December 31, 2004 0.95 to 1.00 March 31, 2005 0.90 to 1.00 June 30, 2005 0.90 to 1.00 September 30, 2005 0.90 to 1.00 December 31, 2005 0.90 to 1.00 March 31, 2006 1.00 to 1.00 June 30, 2006 1.00 to 1.00 September 30, 2006 1.00 to 100 December 31, 2006 1.10 to 1.00 March 31, 2007 and thereafter 1.10 to 1.00” (f) by deleting the definition of the term “Senior First Lien Note Indenture” in its entirety and inserting the following in lieu thereof: