Covenant Trigger Period definition

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 the day after the period of two (2) consecutive Business Days during which Specified Excess Availability is less than the greater of (x) 10.0% of the Line Cap at such time and (y) $40,000,000 and (b) continuing until the first period of 20 consecutive days, at all times during which Specified Excess Availability for each day during such 20-day period has been greater than or equal to the greater of (x) 10.0% of the Line Cap at such time and (y) $40,000,000.

Covenant Trigger Period means the period after a Covenant Trigger Event and prior to a Covenant Recovery Event.

Examples of Covenant Trigger Period in a sentence

• The Borrower will not permit the Fixed Charge Coverage Ratio for any Test Period to be less than 1.0 to 1.0; provided that such Fixed Charge Coverage Ratio will only be tested on the date any Covenant Trigger Period commences (as of the last day of the Test Period ending on or immediately prior to the date on which such Covenant Trigger Period shall have commenced) and shall continue to be tested as of the last day of each Test Period thereafter until such Covenant Trigger Period is no longer continuing.

• 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.

• Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period to be less than 1.00 to 1.00 while a Financial Covenant Trigger Period is in effect, commencing with the most recent Measurement Period for which financial statements were, or were required to be, delivered hereunder prior to the commencement of the Financial Covenant Trigger Period.

• Maintain a Fixed Charge Coverage Ratio for each 12 month period of at least 1.0 to 1.0 while a Financial Covenant Trigger Period is in effect, measured for the most recent period for which financial statements were delivered hereunder prior to the Financial Covenant Trigger Period and each period ending thereafter until the Financial Covenant Trigger Period is no longer in effect.

• During any Financial Covenant Trigger Period, have a Fixed Charge Coverage Ratio, measured on a month-end basis, of at least 1.0 to 1.0, determined for the applicable Rolling Period as of (i) the last day of the month most recently ended before the commencement of such Financial Covenant Trigger Period and (ii) the last day of each month thereafter until the end of such Financial Covenant Trigger Period.

More Definitions of Covenant Trigger Period

Covenant Trigger Period has the meaning specified in Section 8.9.

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 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.

Covenant Trigger Period means any period (a) commencing on the date upon which Excess Global Availability is less than the greater of (x) 10.0% of the Global Line Cap as then in effect and (y) 10.0% of the Commitments as then in effect and (b) ending on the date upon which Excess Global Availability shall have been greater than or equal to the greater of (x) 10.0% of the Global Line Cap as then in effect and (y) 10.0% of the Commitments as then in effect for a period of twenty (20) consecutive calendar days; provided that the amounts calculated pursuant to clauses (a)(y) and (b)(y) above shall in no case be less than $5,000,000.

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 means each period commencing on any day that Availability is less than the greater of (x) $40,000,000 or (y) 10.0% of the sum of the total Revolving Commitments at such time, and continuing until, during the preceding 30 consecutive days, Availability has at all times been greater than or equal to the greater of (x) $40,000,000 or (y) 10.0% of the sum of the total Revolving Commitment at such time.