Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.
Covenant Trigger Period means the period (a) commencing on any day on which either (1) Availability is less than the greater of (A) 10% of the Line Cap and (B) $20.0 million or (2) US Availability is less than $15.0 million and (b) continuing until (1) Availability for each day over a 30 consecutive day period has been equal to or greater than the greater of (A) 10% of the Line Cap and (B) $20.0 million and (2) US Availability for each day over a 30 consecutive day period has been equal to or greater than $15.0 million.
Covenant Trigger Period has the meaning specified in Section 8.9.
Examples of Covenant Trigger Period in a sentence
During any Covenant Trigger Period, the Lead Borrower will not permit the Fixed Charge Coverage Ratio (calculated on a Pro Forma Basis as of the last day of the most recently ended Test Period) to be less than 1.00:1.00.
More Definitions of Covenant Trigger Period
Covenant Trigger Period means the period after a Covenant Trigger Event and prior to a Covenant Recovery Event.
Covenant Trigger Period means the period (a) commencing on the date that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $50,000,000 and (b) continuing until there has been a period of 30 consecutive days thereafter during which at all times (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $50,000,000.
Covenant Trigger Period means the period beginning on the date of the occurrence of a Covenant Trigger Event and ending on the date of the occurrence of the Covenant Release Event.
Covenant Trigger Period means a period commencing on any day that Availability shall have been less than the greater of (a) 10% of the Line Cap and (b) $65,000,000 and continuing until Availability has been at least equal to the greater of (x) 10% of the Line Cap and (y) $65,000,000 for at least 30 consecutive days.
Covenant Trigger Period means the period (a) commencing on any day on which Availability is less than the greater of (i) 10% of the Line Cap and (ii)(A) $32,500,000 if calculated from January 1 to July 31 of any year and (B) $20,000,000 if calculated from August 1 to December 31 of any year, and (b) continuing until the Availability for each day over a thirty (30) consecutive day period has been equal to or greater than the greater of (i) 10% of the Line Cap and (ii)(A) $32,500,000 if calculated from January 1 to July 31 of any year and (B) $20,000,000 if calculated from August 1 to December 31 of each year.
Covenant Trigger Period the period (a) commencing on the day that Net Excess Availability is less than, at any time, an amount equal to the Covenant Trigger Period Threshold Percentage of the Maximum Facility Amount; and (b) continuing until, during the preceding 30 consecutive days, Net Excess Availability has been greater than, at all times, an amount equal to the Covenant Trigger Period Threshold Percentage of the Maximum Facility Amount.
Covenant Trigger Period the period (a) commencing on the day that Total Availability is less than the greater of (i) $8,500,000 and (ii) 10.0% of the Line Cap then in effect; and (b) continuing until the day (i) Total Availability has been greater than the greater of (A) $8,500,000 and (B) 10.0% of the Line Cap then in effect and (ii) no Default has occurred and is continuing, in the case of each of the clauses (b)(i)(A), (b)(i)(B) and (b)(ii), for a period of 90 consecutive calendar days.