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.
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).
Springing Lien Event shall have the meaning given to it in Section 6.01.
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.
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 4.00 to 1.00, or the deemed occurrence of a Springing Lien Event as provided in Section 10.1(m).
Springing Lien Event means either (a) that last day of any fiscal quarter on which the Consolidated Total Debt to EBITDA Ratio is greater than 1.50 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 Total Debt to EBITDA Ratio is projected to be greater than 1.50 to 1.00 as of the end of any prospective fiscal quarter.
Springing Lien Event means the Authority shall fail to make two(2) consecutive payments of TIFIA Mandatory Debt Service in accordance with the provisions of Section 9 of the TIFIA Loan Agreement.
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).
Springing Lien Event means the repayment in full by Borrower of all indebtedness owed by Xxxxxxxx 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.
Springing Lien Event means the occurrence of any of the following: (a) a breach of any of the provisions of Section 6.6 of this Agreement, (b) if at any time the Obligations fail to constitute “senior indebtedness” under any existing or future debt agreements of Borrower, including, without limitation, the Indenture; (c) any default in the repayment of any Indebtedness of Borrower, including without limitation, the Obligations, (d) any draft is presented for payment under any Letter of Credit, (e) if prior to the expiration and termination of this Agreement and the Letters of Credit, Borrower’s 2018 and 2019 subordinated notes, replacement notes or any other Indebtedness of Borrower in a principal amount greater than $4,000,000 will mature within 150 days or less, or (f) an Event of Default occurs under Section 8.5 or 8.7 of this Agreement.
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