Weekly Borrowing Base Period means any period (a) commencing on the date on which (a) either (i) a Specified Default has occurred and is continuing or (ii) Excess Availability is less than 15.0% of Availability for three consecutive Business Days and (b) ending on the first date thereafter on which (i) no Specified Default exists and (ii) Excess Availability has been equal to or greater than 15.0% of Availability for 30 consecutive days.
Weekly Borrowing Base Period means any period (a) commencing on the date on which (i) a Specified ABL Event of Default has occurred and is continuing or (ii) Excess Availability is less than the greater of (x) 12.5% of the Line Cap at such time and (y) $20,000,000 for five (5) consecutive Business Days and (b) ending on the first date thereafter on which (i) no Specified ABL Event of Default exists and (ii) Excess Availability has been equal to or greater than the greater of 12.5% of the Line Cap at such time and $20,000,000 for 20 consecutive days.
Weekly Borrowing Base Period means any period (a) commencing on the date on which (i) a Default or an Event of Default has occurred and is continuing or (ii) (A) Excess Availability is less than the greater of (1) 10% of Availability as then in effect and (2) $80,000,000 for five consecutive Business Days and (B) Designated Cash is less than the Liquidity Threshold and (b) ending on the first date thereafter on which (i) no Default or Event of Default exists and (ii) Excess Availability has been equal to or greater than the greater of (A) 10% of Availability as then in effect and (B) $80,000,000 for 30 consecutive days.
Examples of Weekly Borrowing Base Period in a sentence
Promptly, and in any event within two (2) Business Days after any Authorized Officer of the Lead Borrower obtains knowledge thereof, the Lead Borrower shall deliver to the Administrative Agent notice of the commencement of a Cash Dominion Period, Covenant Trigger Period or Weekly Borrowing Base Period.
More Definitions of Weekly Borrowing Base Period
Weekly Borrowing Base Period means any period (a) commencing on the date on which (a) either (i) a Default or an Event of Default has occurred and is continuing, (ii) Excess Availability is at any time less than 15.0% of Availability or (iii) Excess Availability is less than 20.0% of Availability for three consecutive Business Days and (b) ending on the first date thereafter on which (i) no Default or Event of Default exists and (ii) Excess Availability has been equal to or greater than 20.0% of Availability for 30 consecutive days.
Weekly Borrowing Base Period means each period beginning on the fifth consecutive Business Day on which Availability is less than the greater of (a) 12.5% of the Line Cap and (b) 60,000,000; provided that any such Weekly Borrowing Base Period shall end when and if Availability shall have been not less than (i) such specified level and (ii) $60,000,000 for 30 consecutive days each.
Weekly Borrowing Base Period means any period (a) commencing on the date on which (a) either (i) an Event of Default has occurred and is continuing or (ii) Excess Availability is less than 15.0% of Availability at any time and (b) ending on the first date thereafter on which (i) no Event of Default exists and (ii) Excess Availability has been equal to or greater than 15.0% of Availability for 30 consecutive days.
Weekly Borrowing Base Period means any period (a) commencing on the date on which (i) a Default or an Event of Default has occurred and is continuing or (ii) Excess Availability is less than 25.0% of Availability and (b) ending on the first date thereafter on which (i) no Default or Event of Default exists and (ii) Excess Availability has been equal to or greater than 25.0% of Availability for 30 consecutive days.
Weekly Borrowing Base Period means any period (x) commencing on the date on which the Excess Availability is less than or equal to the greater of (i) £19,000,000 and (ii) 17.5% of the lesser of (a) the Total Commitment as then in effect and (b) the Borrowing Base at such time and (y) ending on the first date thereafter on which the Excess Availability has been greater than the greater of (i) £19,000,000 and (ii) 17.5% of the lesser of (a) the Total Commitment as then in effect and (b) the Borrowing Base at such time for 30 consecutive days.
Weekly Borrowing Base Period means each period (a) commencing on any date that Excess Availability has been less than the greater of (i) 12.5% of Availability and (ii) $12,500,000 for a period of five (5) consecutive Business Days and (b) ending on any date thereafter that Excess Availability has been greater than the greater of (i) 12.5% of Availability and (ii) $12,500,000 for a period of thirty (30) consecutive days.
Weekly Borrowing Base Period means any period (a) commencing on the date on which (a) either (i) an Event of Default has occurred and is continuing or (ii) Excess Availability is less than 15.0% of Availability at any time and (b) ending on the first date thereafter on which (i) no Event of Default exists and (ii) Excess Availability has been equal to or greater than 15.0% of Availability for 30 consecutive days. “Xxxxx Account” shall have the meaning provided in Section 5.03(d). “Xxxxx Fargo” shall mean Xxxxx Fargo Bank, National Association, together with its successors and assigns. “Wholly-Owned Domestic Subsidiary” shall mean, as to any Person, any Domestic Subsidiary of such Person that is a Wholly-Owned Subsidiary. “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of whose capital stock is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any partnership, limited liability company, association, joint venture or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of such Person has a 100% equity interest at such time (other than, in the case of a Foreign Subsidiary of any Credit Party with respect to the preceding clauses (i) and (ii), directors’ qualifying shares and/or other nominal amounts of shares required to be held by Persons other than the Credit Party and its Subsidiaries under applicable law). “Write-Down and Conversion Powers” shall mean (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.