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.
View Source

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.