FCCR Trigger Event means the occurrence of the following at any time, (i) the occurrence and continuance of an Event of Default or (ii) Undrawn Availability is less than twenty percent (20%) of the Maximum Revolving Advance Amount.
FCCR Trigger Event means, at any time, the failure of the Borrowers to maintain Excess Availability at least equal to the greater of (i) ten percent (10%) of the Maximum Borrowing Amount and (ii) $7,000,000. For purposes of this Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Excess Availability has exceeded the amount required by the first sentence of this definition for sixty (60)] consecutive days, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.
FCCR Trigger Event means, at any time, the failure of the Borrowers to maintain Availability at least equal to the greater of (i) ten percent (10.0%) of the lesser of (A) the then FILO Borrowing Base (or, if the FILO Commitments have been terminated, the then Tranche A Borrowing Base) and (B) the then Revolving Credit Ceiling, and (ii) $20,000,000. For purposes of this Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Availability has exceeded the amount required by the first sentence of this definition for thirty (30) consecutive days, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.
Examples of FCCR Trigger Event in a sentence
The team’s recommendations will be communicated to the student and parents/guardians within ten working days of the referral.
After a FCCR Trigger Event, the Company will be subject to compliance with the fixed charge coverage ratio and “springing” cash dominion until no default exists under the New ABL Credit Facility and availability under the facility for the preceding thirty consecutive days has been equal to at least the greater of (x) $12.5 million and (y) 15% of the lesser of the borrowing base and the aggregate commitments.
Rather, NASD Regulation represents that the proposed rule change is limited to restricting a member from interfering with a customer's right to transfer his or her account in the context of an employment dispute, once the customer has requested the transfer.
At any time that a FCCR Trigger Event has occurred and is continuing (including, for the avoidance of doubt, on any FCCR Initial Test Date), the Borrowers shall not permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.00 to 1.00 as of the last day of any FCCR Test Period.
If at any time on or after January 29, 2017 an FCCR Trigger Event has occurred, the Consolidated Fixed Charge Coverage Ratio shall be at least 1.00 to 1.00, calculated as of the last day of the most recent period of twelve consecutive fiscal months for which financial statements have been delivered pursuant to Section 10.1.2(c) ending on or prior to such time.
More Definitions of FCCR Trigger Event
FCCR Trigger Event means, at any time, the failure of the Borrowers to maintain Excess Availability at least equal to the greater of (i) ten percent (10%) of the Maximum Borrowing Amount and (ii) $7,000,000. For purposes of this Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Excess Availability has exceeded the amount required by DB1/ 118785215.8 the first sentence of this definition for sixty (60) consecutive days, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.
FCCR Trigger Event means the date that Lender shall have received a certificate, executed and delivered by a senior financial officer of Borrower Representative, certifying to Lender that Loan Parties have achieved a Fixed Charge Coverage Ratio, on a consolidated basis, measured on monthly basis from the date hereof utilizing a rolling average of actual monthly results and expressed on an annualized basis, equal to or greater than 1.1 to 1.0.”
FCCR Trigger Event has the meaning specified therefor in Section 7(a) of the Agreement.
FCCR Trigger Event at any time, the failure of the Borrowers to maintain Excess Availability at least equal to 20% of the lesser of (i) the aggregate Commitments at such time and (ii) the Aggregate Borrowing Base at such time. For purposes of this Loan Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Excess Availability has at least equaled 20% of the lesser of (x) the aggregate Commitments at such time and (y) the Aggregate Borrowing Base at such time, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Loan Agreement (it being understood and agreed that the any Default under Section 10.3.2 hereof shall continue until affirmatively waived in accordance with Section 14.1.1). For certainty, the termination of any FCCR Trigger Event shall not preclude a subsequent FCCR Triggering Event from occurring.
FCCR Trigger Event. (a) from the Sixth Amendment Closing Date through December 2, 2017, the failure of the Borrowers to maintain Excess Availability, at any time, at least equal to 15% of the lesser of (i) the aggregate Commitments at such time and (ii) the Aggregate Borrowing Base at such time, and (b) from and after December 3, 2017, the failure of the Borrowers to maintain Excess Availability, at any time, at least equal to the greater of (i) 20% of the lesser of (A) the aggregate Commitments at such time and (B) the Aggregate Borrowing Base at such time and (ii) $132,500,000. For purposes of this Loan Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Excess Availability has at least equaled $132,500,000, or 15% or 20% of the lesser of (x) the aggregate Commitments at such time and (y) the Aggregate Borrowing Base at such time (as applicable pursuant to the immediately preceding sentence), in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Loan Agreement (it being understood and agreed that any Default under Section 10.3.2 hereof shall continue until affirmatively waived in accordance with Section 14.1.1 hereof). For certainty, the termination of any FCCR Trigger Event shall not preclude a subsequent FCCR Trigger Event from occurring.
FCCR Trigger Event means, at any time, the failure of the Borrower to maintain Availability at least equal to the greater of (i) twelve and one-half of one percent (12.5%) of the Maximum Revolving Borrowing Amount and (ii) $45,000,000. For purposes of this Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Availability has exceeded the amount required by the first sentence of this definition for forty-five (45) consecutive days, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.
FCCR Trigger Event means, at any time, the failure of the Borrowers to maintain Availability at least equal to the greater of (i) twelve and one-half percent (12.5%) of the lesser of (A) the then FILO Borrowing Base (or, if the FILO Commitments have been terminated, the then Tranche A Borrowing Base) and (B) the then Revolving Credit Ceiling, and (ii) $20,000,000. For purposes of this Agreement, the occurrence of a FCCR Trigger Event shall be deemed continuing until Availability has exceeded the amount required by the first sentence of this definition for thirty (30) consecutive days, in which case a FCCR Trigger Event shall no longer be deemed to be continuing for purposes of this Agreement.