Reduced Availability Period shall have the meaning given such term in Section 5.08.
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.
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.
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.
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.
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.
If extra work, loss of time or damage is the consequence of a fault or omission by the COMPANY, CONTRACTOR will be entitled to file a VARIATION for extra work or charge Standby Time … 10.
From and after the entry by the Court of the Final Order, 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).
More Definitions of Reduced Availability Period
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) 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 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 a period beginning on each day on which Average Facility Availability is (or, after giving pro forma effect to the transaction in question would be) less than $100,000,000, and ending on the last day of the earliest succeeding calendar month when Average Facility Availability has been equal to or greater than $100,000,000 daily for six consecutive full calendar months.
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) $55,000,000 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) $55,000,000 for a period of 30 consecutive days.
Reduced Availability Period means 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 1.10 to 1.00 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 1.10 to 1.00.