Triggering Period definition

Triggering Period means, the period commencing upon the occurrence of a Triggering Event and ending on the day on which Agent has waived the occurrence of the Trigger Event. Confidential treatment is being requested for portions of this document. This copy of the document filed as an exhibit omits the confidential information subject to the confidentiality request. Omissions are designated by the symbol [***]. A complete version of this document has been filed separately with the Securities and Exchange Commission.

Triggering Period means (a) any period during which an Event of Default has occurred and is continuing, and (b) any period during which the Availability Amount (whether as a result of Reserves being required or otherwise) is less than twenty-five percent (25%) of (x) the lesser of (i) the Revolving Line or (ii) the Borrowing Base, minus (y) any Reserves required by Bank. [Signature page follows.]

Triggering Period shall have the meaning set forth in that certain Loan Agreement, dated as of [________], among [____] as Lender; and [______] as Borrower (including any assignment thereof, the “Loan Agreement”), and “Available Cash” shall have the meaning set forth in Section 6.11.1(xiii) of the Loan Agreement. To the extent that the Subordinated Portion of the Base Management Fee is not payable with respect to any given Calendar Year or portion thereof, the unpaid amount shall accrue and shall be payable in future Calendar Years, to the extent, during such future Calendar Year, that (1) there is no “Triggering Period” that has occurred and is then continuing; and (2) there is sufficient Available Cash to pay such accrued amount after paying the Subordinated Portion of the Base Management Fee with respect to such future Calendar Year. The Base Management Fee – excepting only the Subordinated Portion of the Base Management Fee – will be paid in installments by deducting such fee from Gross Operating Revenues of the Hotel immediately following each Accounting Period at the rate of the corresponding percentage of Gross Operating Revenues for that Accounting Period. At the end of each Accounting Period, an adjustment will be made on a cumulative year-to-date basis, if necessary, and all sums due either the Manager or Owner shall be paid immediately. Notwithstanding anything to the contrary contained herein and in any sub-management agreement, any management fee due to a Sub-Manager under a sub-management agreement shall be paid by Manager to Sub-Manager from the Base Management Fee or Incentive Fee due to Manager under this agreement. Notwithstanding anything to the contrary contained herein, if the Subordinated Portion of the Base Management Fee shall be due to Management Company pursuant to the terms set forth herein, such Subordinated Portion of the Base Management Fee shall accrue but shall not be payable to the Management Company until such time as (x) the Borrowers have reserved in the Future PIP Reserve Account (as defined in the Loan Agreement) a cash deposit in an amount equal to all outstanding Future PIP Reserve Funds (as defined in the Loan Agreement) guaranteed by that certain Payment Guaranty (PIP Reserve Funds), dated on or about [________], by [_________] [a Maryland corporation], for the benefit of Lender (the “Guaranteed PIP Funds”), or (y) Borrowers shall have completed all PIP Work and paid all Approved Future PIP Expenses in connection with the Guaranteed...

Examples of Triggering Period in a sentence

• Subject as set out in Section 7 (Delivery of Notices and Fallbacks), Clearing Members may only deliver a Notice to Exercise Movement Option during the NEMO Triggering Period, subject always to the other terms of the relevant Restructuring Cleared Transaction and, where applicable, the DTCC Rules.

• Any Restructuring Cleared Transaction (or portion thereof) in respect of which a valid Credit Event Notice is not delivered during the relevant CEN Triggering Period shall become eligible for compression in accordance with Chapter 3 (Compression) of Title III (Clearing Operations)of the CDS Clearing Rule Book on the Transaction Business Day following the related Exercise Cut-off Date applicable to the relevant Buyer.

• In accordance with Part A or Part B of the CDS Clearing Supplement, LCH SA may, with the prior consent of all relevant Clearing Members, perform a re-couponing on any Restructuring Cleared Transaction (or portion thereof) in respect of which a valid Credit Event Notice is not delivered during the relevant CEN Triggering Period if the Fixed Rate of such Restructuring Cleared Transaction is not an Eligible Fixed Rate.

• Subject as set out in Section 7 (Delivery of Notices and Fallbacks), and notwithstanding anything to the contrary in the terms of any Cleared Transaction, Clearing Members may only deliver Credit Event Notices in relation to a Restructuring Credit Event during the CEN Triggering Period following notification of Restructuring Matched Pairs by LCH SA and subjectalways to the terms of the relevant Restructuring Cleared Transaction and, where applicable, the DTCC Rules.

• Subject as set out in Section 7 (Delivery of Notices and Fallbacks), and notwithstanding anything to the contrary in the terms of any Cleared Transaction, Clearing Members may only deliver Credit Event Notices in relation to a Restructuring Credit Event during the CEN Triggering Period following notification of Restructuring Matched Pairs by LCH SA and subject always to the terms of the relevant Restructuring Cleared Transaction and, where applicable, the DTCC Rules.

More Definitions of Triggering Period

Triggering Period means the period from the date of the Split-off through the date of the second anniversary of the Split-off.

Triggering Period means any time after the Company has earned net income of at least $10 million in each of its two (2) most recently completed (consecutive) fiscal years, based on a March 31 fiscal year end (as net profits are reported either in the Company’s audited annual financial statements or, if permitted by GAAP, in the Company’s component portion of Cavco’s audited annual consolidated financial statements, which in either such case shall be prepared in accordance with GAAP). The Triggering Period shall commence on the date that the most recent audited annual financial statements described above showing the achievement of such net income are delivered to TAVF and Cavco and shall conclude on the later of (i) the immediately following October 31, or (ii) ninety (90) days after such date of delivery.

Triggering Period means a period (a) commencing on the earliest to occur of (i) the occurrence and continuation of an Event of Default, or (ii) the date on which Availability shall be less than $35,000,000 and (b) continuing until such time as, for a period of fifteen (15) consecutive days, both (x) Availability shall be equal to or in excess of $40,000,000 and (y) there shall not have occurred and be continuing any Event of Default.

Triggering Period means a period (a) commencing on the earliest to occur of (i) the occurrence and continuation of an Event of Default, or (ii) the date on which Availability shall be less than $50,000,000 for seven (7) consecutive Business Days, or (iii) the date on which Availability is less than $50,000,000 for a period of less than seven (7) consecutive Business Days if Availability had at any other time during the twelve (12) month period inclusive of and ending on such date of determination, been less than $50,000,000 for a period of less than seven (7) consecutive Business Days, or (iv) the date on which Availability shall be less than $40,000,000; and (b) continuing until the earlier of such time as, (i) for a period of ninety (90) consecutive days, both (x) Availability shall be equal to or in excess of $50,000,000 and (y) there shall not have occurred and be continuing any Event of Default; and (ii) for at least one (1) Business Day, Availability shall be equal to or in excess of $100,000,000.

Triggering Period means (A) the period from (i) May 25, 2007 through (ii) the first date on or after May 25, 2007 on which Availability shall have been in excess of $15,000,000 for a period of six continuous months (the "Initial Triggering Period") and (B) after the Initial Triggering Period, the period commencing on the earlier to occur of either (i) the occurrence and continuation of an Event of Default, or (ii) the first date on which Availability shall fail to be in excess of $15,000,000 and terminating on the first date on which Availability shall have been in excess of $15,000,000 for a period of six continuous months. Agent will endeavor to notify Borrower within five (5) days of the Agent becoming aware of the occurrence of any Triggering Period occurring after the Initial Triggering Period.

Triggering Period means, the period commencing upon the occurrence of a Triggering Event and ending on the day on which Agent has waived the occurrence of the Trigger Event.

Triggering Period means (A) the period from (i) the Restatement Date through (ii) the first date on which Availability shall have been in excess of $15,000,000 for a period of six continuous months (the “Initial Triggering Period” and (B) after the Initial Triggering Period, the period commencing on the earlier to occur of either (i) the occurrence and continuation of an Event of Default, or (ii) the first date on which Availability shall fail to be in excess of $15,000,000 and terminating on the first date on which Availability shall have been in excess of $15,000,000 for a period of six continuous months. Agent will endeavor to notify Borrower within five (5) days of the Agent becoming aware of the occurrence of any Triggering Period occurring after the Initial Triggering Period.