Increased Reporting Period definition
Increased Reporting Period means the period commencing after the continuance of an Increased Reporting Event and continuing until the date when no Increased Reporting Event has occurred for 30 consecutive days.
Increased Reporting Period means the period commencing after an Increased Reporting Event and continuing until the first date after the Increased Reporting Event that Availability has equaled or exceeded the greater of (a) 15% of the Borrowing Limit and (b) $20,250,000 for 30 consecutive days.
Increased Reporting Period means any period commencing after the occurrence of an Increased Reporting Event and continuing until the date when (a) no Event of Default shall exist and be continuing, and (b) Excess Availability is greater than 12.5% of the Maximum Revolver Amount for 30 consecutive days.
Examples of Increased Reporting Period in a sentence
Monthly, not later than the twentieth (20th) day of each month, all information required to calculated the Collateral to Debt Ratio; provided that, during any Increased Reporting Period, the Borrower Agent shall deliver such information weekly, on the second Business Day of each calendar week.
However, during the continuance of each an Increased Reporting Period or at any time when proceeds are being applied pursuant to Section 10.5, for purposes of computing interest on the Obligations, such items shall be deemed applied by the Agent one (1) Business Day after the Agent’s receipt of advice of deposit thereof at the Agent’s bank.
The Agent shall promptly (but in any event within three (3) Business Days) furnish written notice to each Person with whom a Blocked Account is maintained of any termination of an Increased Reporting Period.
So long as no Increased Reporting Period is continuing, the Loan Parties may direct, and shall have sole control over, the manner of disposition of funds in the Blocked Accounts, in each case subject to the other provisions of this Agreement and the other Loan Documents.
The Agent shall not give any notice of exclusive control or similar notice for any Blocked Account unless an Increased Reporting Period has occurred and is continuing.
More Definitions of Increased Reporting Period
Increased Reporting Period means any period commencing on any day that (i) any Event of Default shall have occurred and be continuing or (ii) Availability shall be less than the greater of (w) $15,625,000 and (x) 12.5% of the Maximum Revolving Credit, which period shall terminate on the date on which no Event of Default shall be continuing and Availability has exceeded the greater of the greater of (y) $15,625,000 and (z) 12.5% of the Maximum Revolving Credit for a period of 30 consecutive calendar days.
Increased Reporting Period means any period commencing on the first date on which Excess Availability is less than $7,500,000 for three (3) consecutive days, and continuing until the date that both (a) Excess Availability exceeds $7,500,000 for sixty (60) consecutive days and (b) no Default or Event of Default then exists and is continuing.
Increased Reporting Period means any period commencing on the first date on which ABL Excess Availability is less than the greater of (a) twenty percent (20%) of the Borrowing Cap or (b) $20,000,000, in each case for three (3) consecutive days, and continuing until the date that both (x) ABL Excess Availability exceeds the greater of (i) twenty percent (20%) of the Borrowing Cap or (ii) $20,000,000 for sixty (60) consecutive days, and (y) no Default or Event of Default then exists and is continuing.
Increased Reporting Period means the period commencing after the continuance of an Increased Reporting Event and continuing until the date when no Increased Reporting Event has occurred for 60 consecutive days. "Indebtedness" as to any Person means (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect of letters of credit, bankers acceptances, or other financial products, (c) all obligations of such Person as a lessee under Capital Leases, (d) all obligations or liabilities of others secured by a Lien on any asset of such Person, irrespective of whether such obligation or liability is assumed, (e) all obligations of such Person to pay the deferred purchase price of assets (other than trade payables incurred in the ordinary course of business and repayable in accordance with customary trade practices and, for the avoidance of doubt, other than royalty payments payable in the ordinary course of business in respect of non-exclusive licenses) and any earn-out or similar obligations, (f) all monetary obligations of such Person owing under Hedge Agreements (which amount shall be calculated based on the amount that would be payable by such Person if the Hedge Agreement were terminated on the date of determination), (g) any Disqualified Equity Interests of such Person, and (h) any obligation of such Person guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted, or sold with recourse) any obligation of any other Person that constitutes Indebtedness under any of clauses (a) through (g) above. For purposes of this definition, (i) the amount of any Indebtedness represented by a guaranty or other similar instrument shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Indebtedness, and (ii) the amount of any Indebtedness which is limited or is non-recourse to a Person or for which recourse
Increased Reporting Period means the period commencing after the occurrence of an Increased Reporting Event and continuing until the date when no Increased Reporting Event has occurred for 30 consecutive days.
Increased Reporting Period means each period beginning on the date that any Overadvance occurs and ending on the first date thereafter on which no Overadvance shall have existed for twenty (20) consecutive calendar days.
Increased Reporting Period means (a) each period commencing on any date on which Excess Availability is below the Trigger Level and continuing until such time thereafter as Excess Availability equals or exceeds the Trigger Level for at least 60 consecutive days, and (b) each period commencing on any date on which Borrowers elect in writing, at their option, to submit Borrowing Base Certificates and related collateral reports on a weekly basis; provided that (i) each such election under clause (b) shall remain in effect for no less than 3 months, and (ii) the last borrowing base report provided on a weekly basis shall be for a week ending at the end of a month.