Springing financial covenant. Beginning with the Fiscal Month in which Borrowing Availability is at any time less than or equal to $50,000,000 and continuing thereafter until the Commitment Termination Date, Borrowers and their Subsidiaries, on a consolidated basis (but excluding the MAG Entities), shall be in compliance with either clause (i) or clause (ii) below (but shall not be required to be in compliance with both clauses (i) and (ii) below):
Appears in 1 contract
Sources: Debtor in Possession Credit Agreement (Mirant Corp)
Springing financial covenant. Beginning with the Fiscal Month in which Borrowing Availability is at any time less than or equal to $50,000,000 and continuing thereafter until the Commitment Termination Date, Borrowers and their Subsidiaries, on a consolidated basis (but excluding the MAG Entities)basis, shall be in compliance with either clause (i) or clause (ii) below (but shall not be required to be in compliance with both clauses (i) and (ii) below):
Appears in 1 contract
Sources: Debtor in Possession Credit Agreement (Mirant Corp)