Dominion Period definition

Dominion Period has the meaning given to such term in the Intercreditor Agreement.

Dominion Period means any period (a) during which any Default under paragraph (a) of Article VII or any Event of Default has occurred and is continuing or (b) during a Reduced Availability Period; provided that if all applicable circumstances described in clauses (a) and (b) shall cease to exist, the Borrower Representative may, not more than twice during each period of 12 consecutive months, request that the Administrative Agent discontinue the applicable Dominion Period, and the Administrative Agent will promptly comply with such request and will provide notification of such discontinuance to the Borrowers’ credit card processors.

Dominion Period means any period of time beginning on a Dominion Event Date and continuing through a Dominion Termination Date, if any.

Examples of Dominion Period in a sentence

• During any Dominion Period, the ledger balance in the main Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day.

• All funds deposited in the Dominion Account shall be available to Borrowers at their discretion unless a Dominion Period is in effect.

• At all times, other than during a Cash Dominion Period, Borrowers may withdraw cash or cash equivalents from Deposit Accounts and Securities Accounts and use such cash and cash equivalents for purposes not prohibited hereunder at such time.

• Upon the request of the Agent after the occurrence and during the continuance of a Cash Dominion Period, the Loan Parties shall cause bank statements and/or other reports to be delivered to the Agent not less often than weekly, accurately setting forth all amounts deposited in each Blocked Account to ensure the proper transfer of funds as set forth above.

• During any Full Cash Dominion Period, solely for purposes of determining the amount of Loans available for borrowing purposes, checks (in addition to immediately available funds applied pursuant to Section 2.10(b)) from collections of items of payment and proceeds of any Collateral shall be applied in whole or in part against the applicable Obligations as of 10:00 a.m., Local Time, on the Business Day of receipt, subject to actual collection.

More Definitions of Dominion Period

Dominion Period means (a) any period during which any Event of Default has occurred and is continuing or (b) any period (i) commencing at any time when Availability shall be less than the Applicable Trigger Amount (Level I), and (ii) ending when Availability shall have been greater than the Applicable Trigger Amount (Level I) for a period of 30 consecutive days; provided that no more than two (2) Dominion Periods may end in any consecutive twelve (12) month period.

Dominion Period means any period commencing on the date (a) on which Excess Availability is less than (i) the greater of (A) 12.5% of Availability or (B) $40,000,000 or (b) after the occurrence of an Event of Default; provided, that, (1) to the extent that the Dominion Period has occurred due to clause (a) of this definition, if Excess Availability shall be equal to or greater than (x) 12.5% of Availability and (y) $40,000,000, for at least 45 consecutive days (provided that such 45-day requirement shall not apply if any Credit Party receives proceeds from any offering of Indebtedness or equity permitted hereunder and such proceeds are in an amount sufficient to cause compliance with clause (a) of this definition), the Dominion Period shall no longer be deemed to exist or be continuing until such time as Excess Availability may again be less than such amount, (ii) to the extent that the Dominion Period has occurred due to clause (b) of this definition, if such Event of Default is no longer continuing, and (iii) a Dominion Period may not be cured more than 3 times in any twelve consecutive calendar month period.

Dominion Period means any period (i) commencing on the date on which either (x) an Event of Default has occurred and is continuing or (y) the Excess Availability is less than or equal to the Dominion Threshold and (ii) ending on the first date thereafter on which (x) no Event of Default exists and (y) the Excess Availability has been greater than the Dominion Threshold at all times for 60 consecutive days.

Dominion Period means any period (a) commencing on the date on which (i) a Specified ABL Event of Default has occurred and is continuing or (ii) Excess Availability is less than the greater of (x) 10.0% of the Line Cap at such time or (y) $15,000,000 for a period of five (5) consecutive Business Days and (b) ending on the first date thereafter on which (i) no Specified ABL Event of Default exists and (ii) Excess Availability has been equal to or greater than the greater of (x) 10.0% of the Line Cap at such time or (y) $15,000,000 for 20 consecutive days.

Dominion Period means any period (a) commencing on a Dominion Period Trigger and (b) ending on the first date thereafter on which (1) in the case of a Dominion Period commencing as a result of clause (x) of the definition of Dominion Period Trigger, no Event of Default exists, (2) in the case of a Dominion Period commencing as a result of clause (y) of the definition of Dominion Period Trigger, Excess Availability has been equal to or greater than 10.0% of the Total Revolving Loan Commitment for a period of 30 consecutive days and no Event of Default is continuing, and (3) in the case of a Dominion Period commencing as a result of clause (z) of the definition of Dominion Period Trigger, Domestic Availability is greater than $20,000,000 for a period of 30 consecutive days and no Event of Default is continuing.

Dominion Period means each period commencing upon the occurrence of a Dominion Event and ending on the first date thereafter on which either (a) if such Dominion Event was the occurrence of an Event of Default, such Event of Default (i) is no longer continuing or (ii) has been waived in writing in accordance with the terms of this Agreement or (b) in all other cases, Borrowers’ average Excess Availability for thirty (30) consecutive days following the occurrence (or re-occurrence) of any event described in clause (b) of the definition of “Dominion Event,” is greater than the lesser of (i) $9,375,000 and (ii) 12.5% of the Line Cap.

Dominion Period means any period (a) during which any Event of Default has occurred and is continuing or (b) that constitutes a Minimum Availability Period; provided that if the circumstances described in clause (a) or (b), as applicable, shall occur and cease to exist twice during any calendar year, then any subsequent Dominion Period occurring during such calendar year shall continue through the end of such calendar year.