Reporting Trigger Period. Pursuant to Section 8.1 of the Loan Agreement, Borrowers are required to deliver to Agent (and Agent shall promptly deliver the same to Lenders) a Borrowing Base Report (i) by the 15th day of each month, prepared as of the close of business of the previous month, and (ii) at any time during a Reporting Trigger Period, the third Business Day of each week, prepared as of the close of business of the previous week, and (iii) at such other times as Agent may request. A Reporting Trigger Period is the period (a) commencing on any day that (i) an Event of Default occurs, or (ii) Availability is less than $6,000,000 or 15% of the aggregate Revolver Commitments for 5 consecutive days; and (b) continuing until, during each of the preceding 60 consecutive days, no Event of Default has existed and Availability has been more than $6,000,000 and 15% of the aggregate Revolver Commitments. For any month preceding the date of this Second Amendment and continuing until such time as Inventory is added to and included in the U.S. Borrowing Base by Agent, Agent hereby waives implementation of the Reporting Trigger Period. The foregoing is a one-time waiver and applies only to the specified circumstance and does not modify or otherwise affect the Borrowers’ obligations to comply with any provision under the Loan Agreement.
Reporting Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Availability is less than $25,000,000; and (b) continuing until the day no Default or Event of Default has existed for a period of 30 consecutive days and Availability has been greater than $25,000,000 for a period of 30 consecutive days.
Reporting Trigger Period the period (i) from the Amendment Effective Date through and including the date on which the Borrowers deliver a Compliance Certificate to the Administrative Agent demonstrating that EBITDA for the four Fiscal Quarters then ending exceeds $40,000,000 if, during such period, there exists any outstanding Revolving Loans, (a) commencing on the day that a Default occurs, or Availability is less than the greater of (X) $15,000,000 and (Y) 15.0% of the Line Cap on such day; and (b) continuing until the day (1) Availability has been greater than the greater of (X) $15,000,000 and (Y) 15.0% of the Line Cap and (2) no Default has occurred and is continuing, in the case of each of clauses (i)(b)(1)(X), (i)(b)(1)(Y) and (i)(b)(2), for a period of 30 consecutive calendar days, and (ii) at all other times, (a) commencing on the day that a Default occurs, or Availability is less than the greater of (X) $10,000,000 and (Y) 12.5% of the Line Cap on such day; and (b) continuing until the day (1) Availability has been greater than the greater of (X) $10,000,000 and (Y) 12.5% of the Line Cap and (2) no Default has occurred and is continuing, in the case of each of clauses (ii)(b)(1)(X), (ii)(b)(1)(Y) and (ii)(b)(2), for a period of 30 consecutive calendar days. Required Lenders: Secured Parties holding (x) if there are two or fewer Lenders, 100% and (y) in all other cases, more than 50% of (A) the aggregate outstanding Revolver Commitments; or (B) following termination of the Revolver Commitments, the aggregate outstanding Loans and LC Obligations or, if all Loans and LC Obligations have been paid in full, the aggregate remaining Obligations; provided, that Commitments, Loans and other Obligations held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation, but any related Fronting Exposure shall be deemed held as a Loan or LC Obligation by the Secured Party that funded the applicable Loan or issued the applicable Letter of Credit.
Reporting Trigger Period the period (i) from the Amendment Effective Date through and including the date on which the Borrowers deliver a Compliance Certificate to the Administrative Agent demonstrating that EBITDA for the four Fiscal Quarters then ending exceeds $40,000,000 if, during such period, there exists any outstanding Revolving Loans, (a) commencing on the day that a Default occurs, or Availability is less than the greater of (X) $15,000,000 and (Y) 15.0% of the Line Cap on such day; and (b) continuing until the day (1) Availability has been greater than the greater of (X) $15,000,000 and (Y) 15.0% of the Line Cap and (2) no Default has occurred and is continuing, in the case of each of clauses (i)(b)(1)(X), (i)(b)(1)(Y) and (i)(b)(2), for a period of 30 consecutive calendar days, and (ii) at all other times, (a) commencing on the day that a Default occurs, or Availability is less than the greater of
Reporting Trigger Period the period (a) commencing on the day that a Default occurs, or Availability is less than the greater of (X) $20,000,000 and (Y) 20.0% of the Line Cap on such day; and (b) continuing until the day (1) Availability has been greater than the greater of (X) $20,000,000 and (Y) 20.0% of the Line Cap and (2) no Default has occurred and is continuing, in the case of each of the clauses (b)(1)(X), (b)(1)(Y) and (b)(2), for a period of 90 consecutive calendar days. Required Lenders: Secured Parties holding (x) if there are two or fewer Lenders, 100% and (y) in all other cases, more than 50% of (A) the aggregate outstanding Revolver Commitments; or (B) following termination of the Revolver Commitments, the aggregate outstanding Loans and LC Obligations or, if all Loans and LC Obligations have been paid in full, the aggregate remaining Obligations; provided, that Commitments, Loans and other Obligations held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation, but any related Fronting Exposure shall be deemed held as a Loan or LC Obligation by the Secured Party that funded the applicable Loan or issued the applicable Letter of Credit.
