Financial Covenant Triggering Event definition

Financial Covenant Triggering Event means, at any time, that Total Excess Availability is less than the greater of (a) $20,000,000 and (b) 10.0% of the Line Cap, as of such date (such greater of amount, the “FCCR Test Amount”). Upon the occurrence of any Financial Covenant Triggering Event, such Financial Covenant Triggering Event shall be deemed to be continuing notwithstanding that Total Excess Availability may thereafter exceed the FCCR Test Amount unless and until Total Excess Availability exceeds such FCCR Test Amount for thirty (30) consecutive days, in which event a Financial Covenant Triggering Event shall no longer be deemed to be continuing.

Financial Covenant Triggering Event means the failure of the Borrower to maintain Availability equal to or greater than $7,500,000 at any time. For purposes hereof, the occurrence of a Financial Covenant Triggering Event shall be deemed continuing until Availability has equaled or exceeded $7,500,000 for sixty (60) consecutive days, in which case, a Financial Covenant Triggering Event shall no longer be deemed to be continuing for purposes of this Agreement."

Financial Covenant Triggering Event shall occur at any time that Availability is less than 10% of the Maximum Credit; provided that if such Availability shortfall is the result of a contraction of the Borrowing Base (as opposed to an increase of the Revolving Facility Credit Exposure), no Event of Default shall be deemed to have occurred with respect to Section 7.12 unless such Availability shortfall continues for a period of five (5) consecutive Business Days (and, for the avoidance of doubt, no Credit Event shall be permitted during such 5 Business Day period); provided further that a Default will occur immediately upon the occurrence of any such Availability shortfall and shall continue during such 5 Business Day period unless waived or cured during such period.

Examples of Financial Covenant Triggering Event in a sentence

• The Company will not permit its Consolidated Fixed Charge Coverage Ratio for any Test Period to be lower than 1.00 to 1.00; provided that such Consolidated Fixed Charge Coverage Ratio will only be tested as of the last day of the Test Period ending immediately prior to the date on which a Financial Covenant Triggering Event shall have occurred and shall continue to be tested as of the last day of each Test Period thereafter until such Financial Covenant Triggering Event is no longer continuing.

• The Investor has not waived, is not by this letter waiving, and has no present intention of waiving, the Financial Covenant Triggering Event or any other Triggering Event which may be continuing on the date hereof or any Triggering Event which may occur after the date hereof (whether the same or similar to the Financial Covenant Triggering Event), and nothing contained herein shall be deemed to constitute any such waiver.

• Next we perform scenario analysis on the basis of merger announcement period wealth effect, method of payment, and final outcome of the merger, and examine whether active and passive institutions possess superior knowledge at the announcement quarter with regard to the finaloutcome of the merger.

• B I D D O C U M E N T - O & M o f F i r e x M a c h i n e s - 0 2 N o s Page 9The value of executed works shall be brought to current costing level by enhancing the actual value of work at compound rate of 10% per annum; calculated from the date of completion to last date of receipt of applications for tenders.

• During the continuance of a Financial Covenant Triggering Event and measured on a trailing twelve (12) month basis at the end of each Fiscal Quarter, commencing as of the end of the Fiscal Quarter immediately preceding the date on which a Financial Covenant Triggering Event first occurs and as of each Fiscal Quarter end thereafter, the Borrowers will not permit the Fixed Charge Coverage Ratio to be less than 1.00:1.00.

More Definitions of Financial Covenant Triggering Event

Financial Covenant Triggering Event means (a) the occurrence of a Default or Event of Default that is continuing, or (b) the Borrowers’ Undrawn Availability is less than Eleven Million Two Hundred Fifty Thousand and 00/100 Dollars ($11,250,000.00) on any day, at which time the Borrowers shall comply with the terms of Section 6.5.

Financial Covenant Triggering Event means the failure of the Borrowers to maintain Availability equal to or greater than the greater of (x) fifteen percent (15%) of the Revolving Loan Limit and (y) $7,500,000 at any time. For purposes hereof, the occurrence of a Financial Covenant Triggering Event shall be deemed continuing until Availability has equaled or exceeded the greater of (x) fifteen percent (15%) of the Revolving Loan Limit and (y) $7,500,000 for thirty (30) consecutive days, in which case, a Financial Covenant Triggering Event shall no longer be deemed to be continuing for purposes of this Agreement.

Financial Covenant Triggering Event means (a) the occurrence of an Event of Default that is continuing, or (b) that Undrawn Availability is less than or equal to $5,000,000 on any Business Day.

Financial Covenant Triggering Event means any time that Liquidity is less than the greater of (i) an amount equal to 20% of sum of the Maximum Revolver Amount plus the aggregate outstanding principal amount of the Term Loan and the aggregate outstanding principal amount of the Additional Portions of the Term Loan, in each case made to Borrower on or prior to the applicable date of determination (but excluding the principal amount of the Term Loan made on the Closing Date), and (ii) $20,000,000.

Financial Covenant Triggering Event means Excess Availability on any Business Day being less than 12.5% of the Total Commitment on such Business Day; provided that if, following a Financial Covenant Triggering Event, Excess Availability subsequently equals or exceeds 12.5% of the Total Commitment on each day during a period of thirty (30) consecutive days, such Financial Covenant Triggering Event shall cease to exist upon the first day following such thirty (30)-day period (unless the Borrowers otherwise elect by notice to the Administrative Agent). For the avoidance of doubt, the cessation of an existing Financial Covenant Triggering Event does not preclude the occurrence of a subsequent Financial Covenant Triggering Event.

Financial Covenant Triggering Event means the failure of the Borrowers to maintain Availability equal to or greater than the greater of (x) fifteen percent (15%) of the Revolving Loan Limit and (y)

Financial Covenant Triggering Event means any time that Liquidity is less than $25,000,000. “First Amendment Effective Date” means October 9, 2015.