Weekly Reporting Trigger Event shall occur when either (i) an Event of Default occurs or (ii) Availability, as determined by the Administrative Agent as of the end of any day, is less than the greater of (a) $5,000,000 and (b) 20% of the Revolving Commitment, in each case, in the Administrative Agent’s sole discretion.
Weekly Reporting Trigger Event means (i) a Termination Event or (ii) any time that (a) the sum of (W) the Outstanding Principal Amount at such time and (X) the amount of any outstanding Advance requests at such time exceeds (b) the product of (Y) 0.80 multiplied by (Z) the amount described in clause (ii) of the definition of Borrowing Base.
Weekly Reporting Trigger Event means that the Servicer’s long-term senior unsecured debt obligations cease to be rated (i) at least BB- by Standard & Poor’s, and (ii) at least Ba3 by Moody’s, at any time when the Usage Percentage is more than 75%. “Weekly Settlement Date” means, at any time after the occurrence and during the continuance of a Weekly Reporting Trigger Event, Thursday of each week (or if such day is not a Business Day, the next occurring Business Day). “Xxxxx Fargo” means Xxxxx Fargo Bank, National Association. “Yield Period” means, with respect to any Portion of Capital, (i) initially the period commencing on (and including) the date of the initial purchase or funding of such Portion of Capital and ending on (and including) the last day of the calendar month of such purchase or funding, and (ii) thereafter, each calendar month; provided that in the case of any Yield Period for any Portion of Capital which commences before the Facility Termination Date and would otherwise end on a date occurring after the Facility Termination Date, such Yield Period shall end on such Facility Termination Date and the duration of each Yield Period which commences on or after the Facility Termination Date shall be of such duration as shall be selected by the Administrator (with the consent or at the direction of the applicable Purchaser Agent). “Yield Protection Fee” means, for any Yield Period, with respect to any Portion of Capital, to the extent that (i) any payments are made by the Seller to the related Purchaser in respect of such Capital hereunder prior to the applicable maturity date of any Notes or other instruments or obligations used or incurred by such Purchaser to fund or maintain such Portion of Capital or (ii) any failure by the Seller to borrow, continue or prepay any Portion of Capital on the date specified in any Purchase Notice delivered pursuant to Section 1.2 of this Agreement, the amount, if any, by which: (a) the additional Discount related to such Portion of Capital that would have accrued through the maturity date of such Notes or other instruments on the portion thereof for which payments were received from the Seller (or with respect to which the Seller failed to borrow such amounts), exceeds (b) the income, if any, received by such Purchaser from investing the proceeds so received in respect of such Portion of Capital, as determined by
Examples of Weekly Reporting Trigger Event in a sentence
If a Weekly Reporting Trigger Event has occurred and is continuing, a Weekly Report not later than the second Business Day of each calendar week, calculated as of the last day of the immediately prior calendar week.
More Definitions of Weekly Reporting Trigger Event
Weekly Reporting Trigger Event means the last Business Day in any period of five consecutive Business Days on which the total Revolving Exposures at any time during each Business Day is equal to or greater than 80% of the lesser of (a) the total amount of the Commitments at the end of such Business Day and (b) the Borrowing Base in effect at the end of such Business Day.
Weekly Reporting Trigger Event means the occurrence of any of the following events: (i) an Event of Termination or (ii) the Availability at any time is less than $75,000,000.
Weekly Reporting Trigger Event means (a) the occurrence of an Event of Default or (b) Availability (as calculated without giving effect to the Borrowing Base Block during the Availability Block Period) at any time is less than the greater of (x) seventeen and one-half percent (17.5%) of the Loan Cap and (y) $45,000,000 and such shortfall shall continue for a period of three (3) or more consecutive Business Days.