Sweep Period definition

Sweep Period shall have the meaning given to it in Section 2.1(d)(i) hereof.

Sweep Period. As defined in the Indenture.

Sweep Period means (i) the period that begins on the first date on which Facility Availability is less than or equal to the greater of (x) the amount that is 10% of the Maximum Facility Availability and (y) $140,000,000, and ends on the first date when all Release Conditions are satisfied, or, solely with respect to the initial Sweep Period, any earlier date on which the Earn Out Condition shall have been satisfied; and (ii) each period that begins upon the occurrence of (x) an Event of Default described in Section 7(a), Section 7(i), Section 7(j) or Section 7(k) of the Credit Agreement, or (y) an Event of Default caused by the Borrower’s failure to perform the covenant contained in Section 6.03 of the Credit Agreement, and ends when no Event of Default is continuing; provided that, except in the case of a Sweep Period that begins upon the occurrence of any Event of Default described in Section 7(a), Section 7(i), Section 7(j) or Section 7(k) of the Credit Agreement with respect to the Borrower (which Sweep Period shall commence automatically upon the occurrence of such Event of Default), no Sweep Period shall be deemed to have commenced unless and until the Collateral Agent shall have so determined and shall have so notified the Borrower.

Examples of Sweep Period in a sentence

• Upon the commencement of a Lender Sweep Period, Lender or Designee, on behalf of Lender, will establish the Deposit Account into which all funds in the Clearing Account will, during the continuance of any Lender Sweep Period, be deposited on a periodic basis as set forth in the Clearing Account Agreement.

• Prior to the implementation of a Notice of Cash Sweep Period, Truist shall have no obligation to notify Secured Party of the closure of any Accounts or any Lockboxes by Borrower and shall have no liability to Secured Party related to such closure or for the remittance of any funds in such Accounts or any Lockbox Collateral, directly to, or on the instructions of, Borrower.

• During the Excess Cash Sweep Period, if the Excess Cash Amount exceeds zero on an Excess Cash Measurement Date, the Issuer will make payments under the Securities to the Holders equal to a percentage of the applicable Excess Cash Available Amount in accordance with the terms and conditions set forth below (it being understood that certain percentages of the Excess Cash Available Amount will also be available for distributions to holders of the New Notes and to the Issuer Shareholder, as applicable).

• If this Agreement is terminated or any of the Accounts or, to the extent applicable, Lockboxes, are closed at any time while a Notice of Cash Sweep Period is in effect, Truist shall remit the proceeds of the Accounts or such Account being closed, as well as any Lockbox Collateral remaining in such Lockboxes on the date of such termination or closure, as directed by Secured Party, all in accordance with Truist’s standard policies and procedures then in effect.

• During the Excess Cash Sweep Period, Excess Cash Payments shall be payable to Holders on an annual basis, on May 15 following each relevant Excess Cash Measurement Date.

More Definitions of Sweep Period

Sweep Period means each three-month period as follows:

Sweep Period. Defined in Section 7.3(e).

Sweep Period means (i) the period that begins on the first date on which Facility Availability is less than or equal to the greater of (x) the amount that is 10% of the aggregate amount of the Commitments and (y) $150,000,000, and ends on the first date when all Release Conditions are satisfied, or, solely with respect to the initial Sweep Period, any earlier date on which the Earn Out Condition shall have been satisfied; and (ii) each period that begins upon the occurrence of (x) an Event of Default described in Section 7(a), Section 7(i), Section 7(j) or Section 7(k) of the Credit Agreement, or (y) an Event of Default caused by the Borrower’s failure to perform the covenant contained in Section 6.03 of the Credit Agreement, and ends when no Event of Default is continuing; provided that, except in the case of a Sweep Period that begins upon the occurrence of any Event of Default described in Section 7(a), Section 7(i), Section 7(j) or Section 7(k) of the Credit Agreement with respect to the Borrower (which Sweep Period shall commence automatically upon the occurrence of such Event of Default), no Sweep Period shall be deemed to have commenced unless and until the Collateral Agent shall have so determined and shall have so notified the Borrower.

Sweep Period. Any period (a) commencing on the Determination Date, if any, on which the Current Cashflow Coverage Ratio is less than or equal to the Sweep Period Threshold but greater than the Early Amortization Threshold and (b) continuing until the Current Cashflow Coverage Ratio is greater than the Sweep Period Threshold for each of three consecutive Determination Dates.

Sweep Period. As defined in Section 6.02.

Sweep Period means the period of time during which either an Event of Default or an O&M Operative Period shall have occurred and is continuing.

Sweep Period. Any period: (a) commencing on the Determination Date, if any, on which the Current Cashflow Coverage Ratio is equal to or between 1.25 and 1.10; and (b) continuing until the Current Cashflow Coverage Ratio is greater than 1.25 for each of three consecutive Determination Dates, at which time 50% of the funds on deposit in the Cashflow Coverage Reserve Account will be released, and the remaining 50% of the funds on deposit in the Cashflow Coverage Reserve Account will be released when the Current Cashflow Coverage Ratio is greater than 1.25 for each of three additional consecutive Determination Dates.