Dominion Period definition

Dominion Period means any period (a) during which any Default under clause (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 Loan Partiescredit card issuers and credit card processors.
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 has been waived in writing in accordance with the terms of this Agreement or (b) in all other cases, Borrowersaverage Excess Availability for sixty (60) consecutive days following the occurrence (or reoccurrence) of any event described in clauses (b) or (c) of the definition of Dominion Event, is greater than 17.5% of the Maximum Revolving Advance Amount.
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.

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.

Prior to a Cash Dominion Period, Agent shall not deliver a notice of Exclusive Control with respect to any Dominion Account.

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.

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 any period (a) commencing on the date on which (x) an Event of Default has occurred and is continuing, (y) Excess Availability is less than the greater of (i) 17.5% of Availability or (ii) $30,000,000 in either case for a period of three consecutive Business Days, or (z) Excess Availability is less than the greater of (i) 15.0% of Availability or (ii) $25,000,000 and (b) ending on the first date thereafter on which (x) in the case of a Dominion Period commencing as a result of clause (a)(x) above, no Event of Default exists and (y) in the case of a Dominion Period commencing as a result of clause (a)(y) or (z) above, Excess Availability has been equal to or greater than (i) 17.5% of Availability at such time and (ii) $30,000,000 in either case under this sub-clause (y) for 60 consecutive days (or, if a Crude Intermediation Agreement is in full force and effect during such period, 30 consecutive days); provided that, notwithstanding clause (b) above, to the extent that more than three Dominion Periods have occurred as a result of clause (a)(y) or (z) above during the immediately preceding twelve (12) month period, a Dominion Period shall be deemed to exist at such time.
Dominion Period has the meaning given to such term in the Intercreditor Agreement.
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 (a) commencing on the date on which (i) a Specified ABL Default has occurred and is continuing or (ii) Specified Availability is less than the greater of (x) 10.0% of the Line Cap (without giving effect to any increase thereof during an Agent Advance Period) as then in effect and (y) $10,000,000, for a period of five (5) consecutive Business Days and (b) ending on the first (1st) date thereafter on which (i) no Specified ABL Default is continuing and (ii) Specified Availability has been equal to or greater than the greater of (x) 10.0% of the Line Cap (without giving effect to any increase thereof during an Agent Advance Period) as then in effect and (y) $10,000,000, for a period of twenty (20) consecutive calendar days; provided, that a Dominion Period shall only begin upon the written request of the Administrative Agent delivered to the Administrative Borrower, which request may be made in its discretion or at the discretion of the Required Lenders.
Dominion Period means each period (a) commencing on the day that (i) a Specified Default occurs, (ii) Excess Availability is less than the greater of 12.5% of the Line Cap Amount and $20,000,000 for five (5) consecutive Business Days or (iii) Excess Availability is less than the greater of 10% of the Line Cap Amount and $17,500,000 on any given Business Day and (b) continuing until (i) no Specified Default exists and (ii) a period of thirty (30) consecutive days has elapsed during which at all times Excess Availability is equal to or greater than the greater of 12.5% of the Line Cap Amount and $20,000,000.
Dominion Period means any period (a) commencing on the date on which (i) an Event of Default has occurred and is continuing or (ii) Availability as of any date is less than the greater of $16,500,000 and 15% of the Aggregate Revolving Loan Commitment and (b) ending on (i) in the case of a Dominion Period beginning under clause (a)(i), the date on which such Event of Default shall have ceased to continue or (ii) in the case of a Dominion Period beginning under clause (a)(ii), the first date on which Availability shall have been at least equal to the greater of $16,500,000 and 15% of the Aggregate Revolving Loan Commitment for a period of 60 consecutive calendar days. 134