Block Release Date definition

Block Release Date the later of (a) the first anniversary of the Closing Date and (b) the earliest date on which Borrowers shall have delivered to Agent a Compliance Certificate pursuant to Section 10.1.2(d) which evidences, for the four (4) Fiscal Quarter period ending on the last day of the fiscal period to which such Compliance Certificate relates, a Consolidated Fixed Charge Coverage Ratio of at least 1.25 to 1.0 and Domestic EBITDA greater than or equal to $10,000,000. Board of Governors: the Board of Governors of the Federal Reserve System.
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Examples of Block Release Date in a sentence

  • After the Availability Block Release Date, Average Liquidity shall equal or exceed at all times, $9,375,000.

  • As of the last day of each Testing Period, commencing with the first full Fiscal Quarter ending following the Availability Block Release Date, and as of the end of each Testing Period thereafter, the Fixed Charge Coverage Ratio shall equal or exceed 1.10 to 1.00.

  • Borrowers shall not permit Excess Availability at any time following the Availability Block Release Date to be less than the Minimum Excess Availability Amount, unless as of the last day of the most recent month for which the monthly financial statements of Borrowers and the related Compliance Certificate are required to have been delivered to Agent pursuant to Section 7.15, the Fixed Charge Coverage Ratio for the applicable FCCR Measurement Period then ended is greater than 1:05 to 1:00.

  • Liquidity shall equal or exceed at all times, (i) from and after the Closing Date through and including the Availability Block Release Date, $15,000,000, and (ii) at all times after the Availability Block Release Date, $7,500,000.

  • Unused Line Fee Rate: a per annum rate equal to (a) 0.375% at any time prior to the Availability Block Release Date and (b) 0.25% at any time on or after the Availability Block Release Date.

Related to Block Release Date

  • Escrow Release Date has the meaning set forth in the Escrow Agreement.

  • Collateral Release Date has the meaning given that term in Section 8.10.(b).

  • Release Date means the date on which the Initial Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated as of the date hereof by and among the Investors and Continental Stock Transfer & Trust Company.

  • Restriction Release Date means such date, after the Effective Date, that the Board of Directors determines in good faith that it is in the best interests of the Corporation and its stockholders for the transfer restrictions set forth in this Article FOURTH to terminate.

  • Founder Lock-up Period means, with respect to the Founder Shares, the period ending on the earlier to occur of (A) one year after the completion of the Company’s initial Business Combination or earlier if, subsequent to the Company’s initial Business Combination, the last sales price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (B) the consummation by the Company of any subsequent liquidation, merger, stock exchange or other similar transaction, which results in all of the Company’s stockholders having the right to exchange their shares of the Common Stock for cash, securities or other property.