FCCR Test Period definition

FCCR Test Period means, for any date of determination under this Agreement, the most recent period of four consecutive Fiscal Quarters of the Lead Borrower ended on or prior to such date.
FCCR Test Period means any period (a) commencing on the last day of the most recent period of four (4) consecutive Fiscal Quarters then ended for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or (b), the most recent financial statements referred to in Section 3.04(a)) on or prior to the date Availability is less than the greater of 10% of the Aggregate Commitment and $10,000,000 at any time and (b) ending on the day after Availability has exceeded the greater of 10% of the Aggregate Commitment and $10,000,000 for sixty (60) consecutive days.
FCCR Test Period means a period commencing on the date that Excess Availability is less than $30,000,000 (the “Covenant Trigger Amount”) at any time, and subsequently terminating on the date that Excess Availability is equal to or greater than the Covenant Trigger Amount for a period of not less than forty five (45) consecutive days.

Examples of FCCR Test Period in a sentence

  • F#116541 Second Amended & Restated Loan Agreement C#34357 For the purposes of determining whether a particular payment may be permitted in accordance with this Section 10.12, a FCCR Test Period (as defined in Section 10.13) shall be deemed to be in effect at all times.

  • For the purposes of determining whether a particular payment may be permitted in accordance with this Section 10.11 a FCCR Test Period (as defined in Section 10.13) shall be deemed to be in effect at all times.


More Definitions of FCCR Test Period

FCCR Test Period means any period (a) commencing on the last day of the most recent period of four (4) consecutive fiscal quarters of the Borrower then ended for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) on or prior to the date Availability is less than the greater of (i) 10% of the lesser of the Borrowing Base and the Aggregate Commitment and (ii) $30,000,000 as of such date and (b) ending on the day after Availability has exceeded the greater of (i) 10% of the lesser of the Borrowing Base and the Aggregate Commitment and (ii) $30,000,000 for twenty (20) consecutive Business Days.
FCCR Test Period means any period (a) commencing on the last day of the most recently ended Test Period on or prior to the date Aggregate Availability is less than the greater of $30,000,000 and 10% of the Aggregate Commitment at any time and (b) ending on the day after Aggregate Availability has exceeded the greater of $30,000,000 and 10% of the Aggregate Commitment for thirty (30) consecutive days.
FCCR Test Period means the period commencing on the first day of the calendar month most recently ending prior to the day on which Excess Availability is less than 15% of the aggregate Commitments at any time and continuing until Excess Availability has exceeded 20% of the aggregate Commitments for each of the most recently preceding sixty (60) consecutive days.
FCCR Test Period means any period (a) commencing on the last day of the most recent period of twelve (12) consecutive fiscal months of the Borrower then ended for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a), (b) or (c), the most recent financial statements referred to in Section 3.04(a)) on or prior to the date Availability is less than the greater of 12.5% of the Aggregate Commitment and $37,500,000 at any time and (b) ending on the day after Availability has exceeded the greater of 12.5% of the Aggregate Commitment and $37,500,000 for twenty (20) consecutive Business Days.
FCCR Test Period means any period (a) commencing on the last day of the most recently ended Test Period on or prior to the date Aggregate Availability is less than the greater of $12,500,000 and 10% of the Aggregate Commitment at any time and (b) ending on the day after Aggregate Availability has exceeded the greater of $12,500,000 and 10% of the Aggregate Commitment for thirty (30) consecutive days.
FCCR Test Period means any period (a) commencing on the last day of the most recently ended Test Period on or prior to the date Aggregate Availability is less than the greater of $30,000,000 and 10% of the Aggregate Commitment at any time and (b) ending on the day after Aggregate Availability has exceeded the greater of $30,000,000 and 10% of the Aggregate Commitment for thirty (30) consecutive days. “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions (as determined in such manner as shall be set forth on the NYFRB’s Website from time to time) and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate, provided that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. “Federal Reserve Board” means the Board of Governors of the Federal Reserve System of the United States of America. “Finance Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as finance lease obligations on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. “Final Release Conditions” has the meaning assigned to such term in Section 9.19(c). “Financial Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Company. “First Tier Foreign Subsidiary” means each Foreign Subsidiary with respect to which any one or more of the Company and its Domestic Subsidiaries directly owns more than 50% of such Foreign Subsidiary’s issued and outstanding Equity Interests. “Fixed Asset Priority Collateral” has the meaning assigned thereto in the ABL/Fixed Asset Intercreditor Agreement, and is intended to indicate that portion of the Collateral subject to a prior Lien in favor of the Term Loans/Notes Agent. “Fixed Charge Coverage Ratio” means, for any period, the ratio of (a) Consolidated EBITDA minus Capital Expenditures (other than Capital Expenditures (i) financed with Indebtedness (other than Revolving Loans), (ii) made to restore, replace or rebuild assets subject to casualty or condemnation events to t...
FCCR Test Period means any period (a) commencing on the last day of the most recent period of four (4) consecutive fiscal quarters of the Borrower then ended for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) on or prior to the date Availability is less than the greater of (i) 10% of the lesser of the Borrowing Base and the Aggregate Commitment and (ii)$30,000,000 as of