Streamline Period. [Omitted].
Streamline Period. Borrowers may, at their option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least 5 days prior to requesting that a Streamline Period be put into effect, Borrowers shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrowers will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations then due hereunder. A Streamline Period may not be put into effect if there are outstanding Obligations in connection with Cash Management Services in excess of $500,000. Notwithstanding the foregoing, a Streamline Period may be permitted to exist even if Advances are outstanding so long as the Trigger Availability is in excess of $3,000,000 at all times during such period. During a Streamline Period, Borrowers will not be permitted to incur Obligations in connection with Cash Management Services in an amount more than $500,000 and no additional Letters of Credit will be issued. During a Streamline Period, Borrowers may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrowers shall provide Bank at least 15 days prior written notice thereof together with such information relating to the Eligible Accounts, the Cash Management Services Sublimit and other Collateral as Bank may reasonably request.
Streamline Period. Omitted.
Streamline Period. [omitted]
Streamline Period. As used herein, the term “Streamline Period” means, as of any date of determination, any month for which both of the following conditions are satisfied: (i) the Adjusted Quick Ratio exceeds 1.25 : 1.00, and no Event of Default has occurred and is continuing, at all times during such month; and (ii) the Adjusted Quick Ratio exceeded 1.25 : 1.00 at all times during the 30-consecutive-day period immediately preceding such month; provided, however, that the initial Streamline Period commences on the Effective Date.
Streamline Period. Borrower may, at its option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least ten (10) days prior to requesting that a Streamline Period be put into effect, Borrower shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrower will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations. A Streamline Period may be put into effect if (i) there are no outstanding Obligations on the Revolving Line, or (ii) Borrower’s Quick Ratio is greater than 1.50 to 1.00. During a Streamline Period, Borrower may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrower shall provide Bank at least thirty (30) days prior written notice thereof together with a Transaction Report and such information relating to the Eligible Accounts, and other Collateral as Bank may specify.
Streamline Period. During certain periods of time (each, a “Streamline Period”), provided that the Streamline Requirements are all met, Borrowers’ reporting requirements shall be reduced, and certain proceeds shall be deposited in Borrowers’ operating account(s) instead of being applied to the Advances, as set forth in other provisions of this Agreement. Such a Streamline Period shall be deemed to be in effect as of the Effective Date. If at any time during any Streamline Period the Streamline Requirements are not met, the Streamline Period shall immediately cease to be effective, and any terms or conditions of this Agreement that are dependent upon the existence of a Streamline Period will immediately revert to the respective terms and conditions that are to be in force when a Streamline Period is not in effect, without the need for any further action on the part of Bank or Borrowers. Further, if following the cessation of a Streamline Period the Streamline Requirements are thereafter satisfied for six consecutive months, Borrowers may elect to again put a Streamline Period into effect pursuant to the terms hereof by giving Bank at least 10 days prior written notice, specifying the date the Streamline Period is to begin. Thus, it is the intention of the parties that Borrowers have the opportunity for successive Streamline Periods to apply when and to the extent the conditions thereto are satisfied.
Streamline Period. Any period when the sum of Borrower’s unrestricted cash and Cash Equivalents, plus Eligible Accounts, minus the outstanding principal balance of any Advances, is greater than or equal to Eighteen Million Dollars ($18,000,000), Borrower shall be in a “Streamline Period”. Bank may terminate the Streamline Period at any time that the conditions for a Streamline Period no longer exist.”
Streamline Period. Applies Net Cash at least $800,000 at all times Streamline Period in Effect Yes No Net Cash less than $800,000 at any time Streamline Period not in Effect Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) DERYCZ SCIENTIFIC, INC. on behalf of itself and the other Borrowers By: ______________________________ Name: ____________________________ Title: _____________________________ BANK USE ONLY Received by: _____________________ authorized signer Date: _________________________ Verified: ________________________ authorized signer Date: _________________________ Compliance Status: Yes No
Streamline Period. During certain periods of time (each, a “Streamline Period”), provided that the Streamline Requirements are all met, Borrower’s reporting requirements shall be reduced, and certain proceeds shall be deposited in Borrower’s operating accounts instead of being applied to the Advances, as set forth in other provisions of this Agreement. Such a Streamline Period shall be deemed to be in effect as of the Effective Date. If at any time during any Streamline Period the Streamline Requirements are not met, upon written notice from Bank to Borrower the Streamline Period shall immediately cease to be effective, and any terms or conditions of this Agreement that are dependent upon the existence of a Streamline Period will immediately revert to the respective terms and conditions that are to be in force when a Streamline Period is not in effect, without the need for any further action on the part of Bank or Borrower. Further, if following the cessation of a Streamline Period the Streamline Requirements are thereafter satisfied for a period of at least 60 days (for which period Borrower must have confirmed via its monthly Compliance Certificates that the Streamline Requirements were satisfied as of two consecutive month ends during such period), Borrower may elect to again put a Streamline Period into effect pursuant to the terms hereof by giving Bank at least 30 days prior written notice, specifying the date the Streamline Period is to begin. Thus, it is the intention of the parties that Borrower have the opportunity for successive Streamline Periods to apply when and to the extent the conditions thereto are satisfied.
