Compliance Event means any of the following, without duplication, (i) the consummation of a Material Acquisition or Disposition, (ii) the designation of any Subsidiary as an Unrestricted Subsidiary (including at the time of formation or acquisition of such Subsidiary) or the designation of any Unrestricted Subsidiary as a Restricted Subsidiary, (iii) to the extent exceeding (in one transaction or in a series of transactions) $30,000,000, the making of any Investment in reliance on Section 7.02(a)(iv), (ix), (x) or (xi), (iv) the incurrence of any Indebtedness in reliance on Section 7.03(f), (h), (o) or (q), (v) the prepayment of Subordinated Indebtedness in reliance on Section 7.04 or (vi) a merger or consolidation under Section 7.05(e).
Compliance Event has the meaning set forth in Section 21.5.
Compliance Event means, as of any Test Date, the Revolving Exposure (other than with respect to LC Exposure that has been cash collateralized in an amount equal to the outstanding amount thereof and other standby Letters of Credit with an aggregate face value of up to $1,500,000) of all Lenders outstanding at such time is greater than 50% of the aggregate principal amount of the Revolving Commitments of all Lenders.
Examples of Compliance Event in a sentence
Borrower covenants and agrees that it shall immediately notify the Bank in writing upon the occurrence of a Reportable Compliance Event.
The Servicer shall promptly notify the Administrative Agent and each Lender in writing upon the occurrence of a Reportable Compliance Event.
Seller shall promptly notify the Administrator in writing upon the occurrence of a Reportable Compliance Event.
Servicer shall promptly notify the Administrator in writing upon the occurrence of a Reportable Compliance Event.
Lessee covenants and agrees that it shall immediately notify Lessor in writing upon the occurrence of a Reportable Compliance Event.
More Definitions of Compliance Event
Compliance Event means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Excess Availability is less than the greater of (x) 10.0% of the Total Line Cap at such time and (y) $40,000,000 and (b) continuing until the first period of 30 consecutive days, at all times during which (i) no Event of Default has existed and (ii) Excess Availability for each day during such 30-day period has been greater than the greater of (x) 10.0% of the Total Line Cap at such time and (y) $40,000,000.
Compliance Event has the meaning set forth in the Credit Agreement.
Compliance Event means the last day of any Test Period (commencing with the first full fiscal quarter after the Closing Date) so long as the Outstanding Amount of Revolving Credit Loans and Swing Line Loans on such date exceeds 25% of the amount of Revolving Credit Commitments on such date.
Compliance Event means the last day of any Test Period (commencing with the first full fiscal quarter after the Closing Date) so long as
Compliance Event at any time, the period commencing on the day that Excess Availability is less than the greater of (a) 12.5% of the Line Cap and (b) $10,000,000 at such time and continuing until Excess Availability has exceeded the greater of (A) 12.5% of the Line 8 Cap and (B) $10,000,000 for thirty (30) consecutive days, in which case a Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement.
Compliance Event at any time, the period commencing on the day that Excess Availability is less than the greater of (a) 12.5% of the Total Revolving Commitments and (b) $5,000,000 at such time and continuing until Excess Availability has exceeded the greater of (A) 12.5% of the Total Revolving Commitments and (B) $5,000,000 for thirty consecutive days, in which case a Compliance Event shall no longer be deemed to be continuing for purposes of this Agreement. AMERICAS 94977503
Compliance Event has the meaning set forth in Section 13.6.