Liquidity Impairment definition

Liquidity Impairment means that, if the Payment Obligation was enforced, the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, would not be able to fulfil its financial obligations which such German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, owes to its creditors and which (i) are due at the time the enforcement notice is received by the German Guarantor or (ii) will become due within a period of 30 calendar days following receipt of such enforcement notice (the “Test Period”). For the purposes of determining whether a Liquidity Impairment occurs all liquid assets, i.e., cash, amounts standing to the credit of bank accounts and securities standing to the credit of securities accounts, of the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor of its general partner, shall be taken into account (including liquid assets the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor its general partner, is due to receive within the Test Period as well as any of its assets that can be realized within the Test Period, provided that such realization is legally permitted and such asset is not necessary (nicht betriebsnotwendig) for the operation of its business).
Liquidity Impairment means a German Note Guarantor being deprived of the liquidity necessary to fulfil its liabilities towards its creditors and thereby violating § 15b (5) InsO.
Liquidity Impairment shall be deemed to occur to the extent that any necessary cash settlement(s) of Roll-over Warrants, or any payment(s) in accordance with Article V of this Agreement, would:

Examples of Liquidity Impairment in a sentence

  • A condition of Liquidity Impairment exists when your Liquidity Ratio, as determined in paragraph (b) of this sec- tion, is less than 1.20.

  • The Trustee may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.

  • The Administrative Agent may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.

  • A condition of Liquidity Impairment exists when your Liquidity Ratio, as determined in paragraph (b) of this section, is less than 1.20.

  • You have a condition of Capital Impairment as determined under§ 107.1830 or, if applicable, a condition of Liquidity Impairment as determined under § 107.1505, and you fail to curethe impairment within time limits set by SBA in writing.

  • The aforementioned provisions shall apply to a limited partnership with a limited liability company as its general partner (GmbH & Co. KG) mutatis mutandis provided that any Capital Impairment and/or Liquidity Impairment shall be determined in relation to the general partner.

  • An example is organizations running private prisons which may decrease the quality of services or supplies to cut costs.

  • The Security Agent may demand payment under the German Guarantee to the extent the Auditor determines that the Capital Impairment or Liquidity Impairment has been cured.

  • For the purpose of establishing whether a Liquidity Impairment would occur, payments made by FMCD after the Trustee has notified FMCD of its intention to enforce the Note Guarantee with respect to payment obligations that are not due at the time of the payment shall be disregarded, unless the Trustee has consented to such payments (at the direction of the Holders of at least a majority in principal amount of the Notes then outstanding).

  • In the event the Company fails to make a Liquidity Impairment Payment within ten (10) Business Days of the date such Liquidity Impairment Payment is due, such Liquidity Impairment Payment shall bear interest at the rate of 1.0% per month until paid in full.


More Definitions of Liquidity Impairment

Liquidity Impairment means a GmbH Guarantor being unable to fulfil its liabilities towards its creditors. “Management Notification” means the notification pursuant to paragraph (b)(iii) below.
Liquidity Impairment means that the German Guarantor would, subject to paragraph (iii) below, if this Agreement were enforced, not be able to fulfill its financial obligations which the German Guarantor owes to its creditors and which (i) are due at the time of a notification by the Agent to the relevant German Guarantor of its intention to enforce the Agreement (the “Demand”), or (ii) will become due within a period of thirty (30) calendar days following such Demand (the “Relevant Period”).
Liquidity Impairment means that, if the Payment Obligation was enforced, the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, would not be able to fulfil its financial obligations which such German Guarantor, or in the case of a
Liquidity Impairment means a GmbH Guarantor being unable to fulfil its liabilities towards its creditors.

Related to Liquidity Impairment

  • Visibility impairment means any humanly perceptible change in visual range, contrast, or coloration from that which would have existed under natural visibility conditions.

  • Impairment has the meaning assigned to such term in Section 1.03.

  • Liquidity means, as of any date of determination, the sum of Availability and Qualified Cash.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Financial Impairment means that a carrier is not insolvent and is:

  • Hearing impairment means an impairment in hearing, whether permanent or fluctuating, that adversely affects the child's educational performance but that is not included under the definition of deafness in this section.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).

  • Orthopedic impairment means a severe orthopedic impairment that adversely affects a child's educational performance. The term includes impairments caused by a congenital anomaly, impairments caused by disease (e.g., poliomyelitis, bone tuberculosis), and impairments from other causes (e.g., cerebral palsy, amputations, and fractures or burns that cause contractures).

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Standard Investment Period means the period beginning with the first day of any purchase or acquisition of Economic Development Property and ending five (5) years after the Commencement Date.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Functional impairment means both of the following:

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Physical impairment means a loss of physical functioning which interferes with a person’s ability to perform the Activities of Daily Living. A person with a physical impairment would require hands-on Human Assistance in order to perform the Activities of Daily Living.

  • Other health impairment means having limited strength, vitality, or alertness, including a heightened alertness to environmental stimuli, that results in limited alertness with respect to the educational environment, that:

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change in Control and (ii) public notice of the occurrence of a Change in Control or of the intention of the Company to effect a Change in Control.

  • Mental impairment means any psychological disorder, such as mental retardation, organic brain syndrome, emotional or mental illness, and specific learning disorders.

  • Liquidity Condition means and will exist during the period from (1) the date on which Excess Availability has been less than the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for five consecutive Business Days, to (2) the date on which Excess Availability has been at least equal to the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for 20 consecutive calendar days.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Investment Grade Certificate As of any date of determination, a Certificate that is rated in one of the four highest generic rating categories by at least one Rating Agency that is defined as a “Rating Agency” under Section III of the Exemption.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.