Security Trigger Date definition

Security Trigger Date means the earliest date any of the following shall occur (a) Availability (to the extent available to be drawn in accordance with the Bank Credit Agreement as in effect on the First Amendment Date) is, at any time, less than $350,000,000, (b) the Issuer and its Subsidiaries have aggregate Unrestricted Cash on the balance sheet of less than $200,000,000 or (c) the Parent Guarantor, the Issuer or any of its Subsidiaries xxxxx x Xxxx (or agree to grant a ​ ​ ​ Lien) to secure any of the obligations under the Bank Credit Agreement, any Preferred Equity or other Material Collateral Indebtedness. The Security Trigger Date shall not in any event be deemed to occur after the occurrence of the Security Release Date.
Sample 1
Security Trigger Date means the earliest date any of the following shall occur (i) Availability is, at any time, less than $350,000,000, (ii) the Borrower and its Subsidiaries have aggregate Unrestricted Cash on the balance sheet of less than $200,000,000 or (iii) the Parent, the Borrower or any of its Subsidiaries xxxxx x Xxxx (or agree to xxxxx x Xxxx) to secure the Senior Notes, any Preferred Equity or other Material Collateral Indebtedness. The Security Trigger Date shall not in any event be deemed to occur after the occurrence of the Security Release Date. ​ ​ ​
Sample 1
Security Trigger Date means the earliest date any of the following shall occur (i) Availability is, at any time, less than $350,000,000, (ii) the Borrower and its Subsidiaries have aggregate Unrestricted Cash on the balance sheet of less than $200,000,000 or (iii) the Parent, the Borrower or any of its Subsidiaries gxxxx x Xxxx (or agree to gxxxx x Xxxx) to secure the Senior Notes, the High Yield Notes (if any), any Preferred Equity or other Material Collateral Indebtedness. The Security Trigger Date shall not in any event be deemed to occur after the occurrence of the Security Release Date. The parties acknowledge that the Security Trigger Date has occurred and is existing as of April 29, 2021.
Sample 1

Examples of Security Trigger Date in a sentence

  • As provided in Section 4.1.(d)., a Property that is to become an Unencumbered Property after the occurrence of the Security Trigger Date and prior to the Security Release Date shall not be considered to be an Unencumbered Property until such time as the Administrative Agent shall have received the items referred to in Section 4.1.(d).

  • After the occurrence of the Security Trigger Date and prior to the Security Release Date, any Intercreditor Agreement shall be asserted in writing by any Loan Party not to be, in whole or in part, legally valid, binding and enforceable against any party thereto, or such Intercreditor Agreement shall otherwise not be effective to create the rights and obligations purported to be created thereunder (as determined by a court of competent jurisdiction).

  • The Parent, the Borrower and each other Loan Party has the right and power, and has taken all necessary action to authorize it, to execute, deliver and perform each of the Loan Documents to which it is a party in accordance with their respective terms and to consummate the transactions contemplated hereby and thereby and to grant Liens in the Collateral to the Collateral Agent for the benefit of the Lender Parties pursuant to the Pledge Agreement upon the occurrence of the Security Trigger Date.

  • The Constituent Companies will not, and will not permit any Subsidiary to, create any Lien (other than Permitted Liens described in clauses (a), (f) and (h) of the definition thereof) on the Collateral (or the property required to become Collateral on or after the Security Trigger Date) or on the Equity Interests of any Excluded Equity Issuer from and after June 30, 2020 to and including the Security Release Date.

  • GA Res 61/295, UN GAOR, 61st Sess, 107th plen mtg, Supp No 49, UN Doc A/RES/61/295 (13 September 2007).

  • Subject to the terms of this Section 4.04, the Company has the right, at its election, to redeem all, but not less than all, of the Notes, at any time, on a Redemption Date after the High Yield Security Trigger Date, for a cash purchase price equal to the applicable Redemption Price, but only if a Requisite Stockholder Approval Failure has occurred (a “High Yield Note Redemption”).

  • For the avoidance of doubt, if a Degressive Issuance occurs before the High Yield Security Trigger Date and a Requisite Stockholder Approval Failure occurs on the High Yield Security Trigger Date, then Additional Interest will accrue as provided in this Section 3.05 from, and including, the applicable Degressive Issuance Date to, and including, the High Yield Security Trigger Date.

  • The Company will use its reasonable best efforts to obtain the Requisite Stockholder Approval on or before the High Yield Security Trigger Date, including by seeking such approval, if not previously obtained, at each future regular annual meeting of its stockholders prior to the High Yield Security Trigger Date and endorsing its approval in the related proxy materials.

  • For the avoidance of doubt, High Yield Interest pursuant to this clause (2) will cease to accrue at such time when no Registration Default is continuing, but if a Registration Default thereafter occurs after the High Yield Security Trigger Date, then (x) High Yield Interest will resume accruing at the last rate at which it last accrued and such rate will continue to be subject to increase as provided in the immediately preceding sentence.

  • Security Trigger Date / Additional Collateral / Release of Collateral.


More Definitions of Security Trigger Date

Security Trigger Date means the earliest date any of the following shall occur (i) Availability is, at any time, less than $350,000,000, (ii) the Borrower and its Subsidiaries have aggregate Unrestricted Cash on the balance sheet of less than$200,000,000 or (iii) the Parent, the Borrower or any of its Subsidiaries grant a Lien (or agree to grant a Lien) to secure the Senior Notes, any Preferred Equity or other Material Collateral Indebtedness. The Security Trigger Date shall not in any event be deemed to occur after the occurrence of the Security Release Date.
Sample 1

Related to Security Trigger Date

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Cash Dominion Trigger Period means the period commencing on the occurrence of a Cash Dominion Trigger Event, and continuing until the date that (a) no Event of Default shall be continuing and (b) Excess Availability is greater than or equal to the greater of (i) 15.0% of the Line Cap and (ii) $6,250,000, in each case, for a period of at least three (3) consecutive Business Days.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Security Tests means conduct tests of the processes and countermeasures contained in the Security Plan.

  • Security Event means an immediately reportable subset of security incidents which incident would include: a. A suspected penetration of Contractor’s information system of which the Contractor becomes aware of but for which it is not able to verify immediately upon becoming aware of the suspected incident that PHI was not accessed, stolen, used, disclosed, modified, or destroyed; b. Any indication, evidence, or other security documentation that the Contractor’s network resources, including, but not limited to, software, network routers, firewalls, database and application servers, intrusion detection systems or other security appliances, may have been damaged, modified, taken over by proxy, or otherwise compromised, for which Contractor cannot refute the indication of the time the Contractor became aware of such indication; c. A breach of the security of the Contractor’s information system(s) by unauthorized acquisition, including, but not limited to, access to or use, disclosure, modification or destruction, of unencrypted computerized data and which incident materially compromises the security, confidentiality, or integrity of the PHI; and or, d. The unauthorized acquisition, including but not limited to access to or use, disclosure, modification or destruction, of unencrypted PHI or other confidential information of the County by an employee or authorized user of Contractor’s system(s) which materially compromises the security, confidentiality, or integrity of PHI or other confidential information of the County. If data acquired (including but not limited to access to or use, disclosure, modification or destruction of such data) is in encrypted format but the decryption key which would allow the decoding of the data is also taken, the parties shall treat the acquisition as a breach for purposes of determining appropriate response.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Trigger Period means the period commencing on the first public announcement by the Issuer of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control; provided, that if the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies, such 60-day period shall be extended until the first to occur of (x) the date that such Rating Agency announces the results of its review and (y) the date that is 180 days after consummation of the Change of Control.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Auto-Call Trigger Level means the level set out below for the relevant Auto-Call Valuation Date (i.e. as shown in the same row as that date):

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Mandatory Trigger Provision means, as to any Qualifying Capital Securities, provisions in the terms thereof or of the related transaction agreements that:

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Relevant Event means any Termination Event or any Mandatory Prepayment Event or any event which after the giving of notice or lapse of time or the satisfaction of any other condition (or any combination thereof) would constitute a Termination Event or a Mandatory Prepayment Event;

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Auto-Call Trigger Rate means the applicable percentage in respect of the relevant Auto-Call Valuation Date on which an Auto-Call Trigger Event has occurred as set out in the definition of Auto-Call Trigger Level above (i.e. as shown in the same row as that date).

  • Ratings Event means a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by two or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s rating of the Notes on the Issue Date.