Financial Trigger definition

Financial Trigger means an event arising upon the occurrence of any of a Net Worth Trigger, a Liquidity Trigger or a Leverage Debt-to-Income Trigger.

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Financial Trigger means an event arising upon the occurrence of either a Net Worth Trigger or a Liquidity Trigger.

Financial Trigger means any of the following events or occurrences in respect of any Party or Guarantor, as the case may be, as applicable:

Examples of Financial Trigger in a sentence

The Employee will not be entitled to receive any Unit Distribution Rights payments if the [Year] Financial Trigger for Distributions is not met.
If the [Year] Financial Trigger for Distributions is not met, then all of the Target Grant Unit shall be forfeited without consideration and this Agreement shall terminate in its entirety.
If Delta meets the Financial Trigger, both Delta and the 1114 Non-Pilot Committee reserve all of their rights under Section 1114 or otherwise.
From and at all times after the Financial Trigger Event but prior to the Financial Trigger Release Event, allow, permit or otherwise suffer the value of Pledged Collateral to be less than the Minimum Cash Collateral Value at any time.
Subject to the terms and conditions of this Agreement, the Company’s option to require the Purchaser to purchase the Option Notes will expire on April 15, 2008 and may be exercised in whole only, but not in part on one occasion at the discretion of the Company on or before such date only if the Financial Trigger (as defined below) has occurred.
From and at all times after the Financial Trigger Event but prior to the Financial Trigger Release Event, Borrower shall deliver to and maintain with Bank, Pledged Collateral in an amount of not less than the Minimum Cash Collateral Value.
To the extent a Financial Trigger Event has occurred, the Borrowers may request that such testing of the Fixed Charge Coverage Ratio be suspended following a period in which Borrowers have Excess Availability of more than ten percent (10%) of the Maximum Loan Limit for at least sixty (60) consecutive days (a “Financial Covenant Suspension”).
If the [Year] Financial Trigger for Distributions is met, then the Employee will be entitled to receive, in arrears, an amount equal to the Unit Distribution Rights payments that such Employee would have received if the Employee had continuously held the Target Grant Units, as may be increased or decreased pursuant to Section 4(a), since the Date of Grant.
If a Financial Trigger Event occurs in a Calendar Quarter and continues into succeeding Calendar Quarter(s), for each Calendar Quarter it continues, a new Financial Trigger Event shall be deemed to have occurred.
In the event that the Employee is terminated by the Company Entities without Cause or by the Employee for Good Reason (as defined below), in either case, within the twelve (12) month period immediately following the consummation of a Change of Control, then, if the [Year] Financial Trigger for Distributions has been met (or would be met following the completion of the [Year] fiscal year), all unvested Restricted Units shall immediately be accelerated and become Vested Units.

More Definitions of Financial Trigger

Financial Trigger means that either (A) the sum of Tenant's cash, cash equivalents and accounts receivables from Aventis are less than $50,000,000 or (B) Tenant's net worth is less than $40,000,000. Tenant shall immediately notify Landlord upon the occurrence of the Financial Trigger. If requested by Landlord, Tenant shall furnish Landlord with evidence as to whether or not the Financial Trigger has occurred.

Financial Trigger means, for the Company and its Subsidiaries on a consolidated basis, that (i) net profit after tax for the fiscal year ending December 31, 2007 shall be less than $9.0 million (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year) or (ii) net profit after tax for the fiscal year ending December 31, 2008 shall be less than $13.5 million (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year). The calculation of “net profit after tax” for the purposes of this definition shall be as reported in the Company’s audited financial statements for the applicable fiscal year, and shall be made in accordance with GAAP consistently applied and as determined by the Company’s regular independent public accountants in the Company’s fiscal year ending December 31, 2006, after deducting “income tax expense” and the amount, if any, for minority interest that may arise, but without adding any “other comprehensive income” or any extraordinary income; provided that the calculation of “net profit after tax” for the purposes of this definition shall not include (i) accounting charges arising from or in connection with the issuance of the Notes and all other accounting charges related to the Notes, if any, (ii) accounting charges arising from or in connection with the issuance or exercise of the Warrants and all other accounting charges related to the Warrants, if any, (iii) the after tax amount of interest recognized in each of the relevant fiscal year associated with the Notes, (iv) accounting income or changes arising from any change or the introduction of new accounting standards required by GAAP after the date of this Agreement (v) any non-cash expense incurred at any time in connection with the issuance of shares of Common Stock pursuant to (x) Section 8 and (y) the Company’s stock option plans and employee stock purchase plans and which have been approved by the Company’s Board of Directors so long as such issuances in the aggregate do not exceed five percent (5%) of the Common Stock of the Company issued and outstanding immediately prior to such issuance or grants, and (vi) any extraordinary gain or loss.

Financial Trigger means, for the Parent and its Subsidiaries on a consolidated basis, that net profit after tax for the three months ending December 31, 2007 shall be not less than $3,000,000 (or its equivalent in RMB, calculated at the exchange rate for conversion of US dollars into RMB quoted by the People’s Bank of China on the last Business Day of such fiscal year). The calculation of “net profit after tax” for the purposes of this definition shall be as reported in the Parent’s financial statements for the applicable period, and shall be made in accordance with GAAP consistently applied, which shall be audited by the Parent’s independent public accountants in accordance with generally accepted auditing standards, after deducting “income tax expense” and the amount, if any, for minority interest that may arise, but without adding any “other comprehensive income” or any extraordinary income; provided that the calculation of “net profit after tax” for the purposes of this definition shall not include any costs or expenses incurred in connection with the transactions contemplated by this Agreement and costs and expenses in connection with all fundraising or financings activities of the Parent and the Company during the applicable period, including any non-cash expense incurred at any time in connection with the issuance of shares of Common Stock pursuant to (x) Section 8 of the Warrant Agreement or (y) the Parent’s stock option plans and employee stock purchase plans and which have been approved by the Parent’s Board of Directors so long as such issuances in the aggregate do not exceed five percent (5%) of the Common Stock of the Parent issued and outstanding immediately prior to such issuance or grants.