Springing Lien Event definition

Springing Lien Event shall be deemed to occur automatically in the event that You, without the prior written consent of Us, do not comply with the IP Restriction, Subsidiary Cash Cap or Receivables Restriction.
View Source
Springing Lien Event means the delivery of an Officer’s Compliance Certificate reflecting a Consolidated Total Leverage Ratio that equals or exceeds 4.00 to 1.00, or the deemed occurrence of a Springing Lien Event as provided in Section 10.1(m).
View Source
Springing Lien Event shall have the meaning given to it in Section 6.01.
View Source

Examples of Springing Lien Event in a sentence

  • For the avoidance of doubt, the Deposit shall not be released by the Custodian to PBGC until PBGC asserts that a Springing Lien Event has occurred.

  • From and after a Springing Lien Event: (i) all property policies shall have a lender’s loss payable endorsement showing Bank as an additional loss payee, (ii) all liability policies shall show, or have endorsements showing, Bank as an additional insured, and (iii) Bank shall be named as lender loss payee and/or additional insured with respect to any such insurance providing coverage in respect of any Collateral.

  • In the event both preceding conditions are met, a "Springing Lien Event" will be deemed to have occurred.

  • Upon the occurrence of a Springing Lien Event, Borrower hereby authorizes HSBC to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect HSBC’s interest or rights hereunder, including a notice that any disposition of the Collateral, by either Borrower or any other Person, except as otherwise permitted under this Agreement shall be deemed to violate the rights of HSBC under the Code.

  • For the avoidance of doubt, the Bank shall not be permitted to file any UCC financing statements describing the Springing Collateral until after the occurrence of a Springing Lien Event.


More Definitions of Springing Lien Event

Springing Lien Event means the delivery of an Officer’s Compliance Certificate reflecting a Consolidated Total Leverage Ratio that equals or exceeds 4.25 to 1.00, or the deemed occurrence of a Springing Lien Event as provided in Section 10.1(m).
View Source
Springing Lien Event means either (a) that last day of any fiscal quarter on which the Consolidated Funded Debt to EBITDA Ratio is greater than 1.00 to 1.00 as of the end of each fiscal quarter and calculated on a Consolidated basis for the four fiscal quarters most recently ended or (b) that day any proposed acquisition is consummated if the Pro Forma Projected Financial Information required to be delivered in connection with such acquisition states that the Consolidated Funded Debt to EBITDA Ratio is projected to be greater than 1.00 to 1.00 as of the end of any prospective fiscal quarter.
View Source
Springing Lien Event means the occurrence of any of the following: (i) after the one year anniversary of the date of this Agreement, the Common Stock shall not be listed on the Nasdaq National Market, the Nasdaq SmallCap Market or the New York Stock Exchange or trading in the Common Stock on such market or exchange shall have been suspended; or (ii) an Event of Default (as hereinafter defined).
View Source
Springing Lien Event means the Authority shall fail to make two
View Source
Springing Lien Event means the event that the Leverage Ratio as at the last day of any fiscal quarter set forth below exceeds the ratio set forth below opposite such fiscal quarter: Fiscal Quarter Leverage Ratio 6/30/08 3.00:1.00 9/30/08 3.25:1.00 12/31/08 2.50:1.00 3/31/09 2.50:1.00 6/30/09 2.25:1.00 9/30/09 2.25:1.00
View Source
Springing Lien Event means the repayment in full by Borrower of all indebtedness owed by ▇▇▇▇▇▇▇▇ to the U.S. Small Business Administration (the “SBA”) pursuant to that certain Loan Authorization and Agreement, dated June 24, 2020, by and between Borrower and the SBA.
View Source
Springing Lien Event means the occurrence and continuance of any of the following: (a) Borrower fails or neglects to perform any obligation in Section 5.9, Section 6.6 or Section 7.12, (b) an Event of Default under Section 8.1 and Section 8.5, (c) or the representation made by Borrower in Section 5.11 is incorrect.
View Source