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 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.
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 (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 (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 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) (A) Excess Availability is less than the greater of (1) 10% of Availability as then in effect and (2) $20,000,000 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) $20,000,000 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) (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.
Weekly Borrowing Base Period each of the following shall be a Weekly Borrowing Base Period: (a) each period when a Specified Event of Default shall have occurred and be continuing and (b) each period during which Availability is less than the greater of (i) 20% of the lesser of (x) the Total Revolving Commitments and (y) the Borrowing Base and (ii) $60,000,000; provided that any Weekly Borrowing Base Period commencing pursuant to this clause (b) shall end if and when Availability is not less than such specified level for 30 consecutive days.
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 the greater of (X) 15.0% of Availability and (Y) $5,000,000, in each case, 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 the greater of (X) 15.0% of Availability and (Y) $5,000,000, in each case, for 30 consecutive days. “Wholly Owned Domestic Subsidiary” shall mean, as to any Person, any Domestic Subsidiary of such Person that is a Wholly Owned Subsidiary. 49 #93457508v14