Liquidity Test Date definition

Liquidity Test Date has the meaning set forth in Section 7.11.

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Liquidity Test Date means, starting with 31 October 2023, the last Business Day of each calendar month.

Liquidity Test Date the last Friday of each calendar month (commencing with the calendar month ending July 31, 2023).

Examples of Liquidity Test Date in a sentence

If the financial advisors to the Debtors and the financial advisors to the Backstop Participants are unable to reach agreement on the Minimum Liquidity Test Date as to the determinations in (1) and (2) above, then the parties shall seek a determination as to any such dispute from the Bankruptcy Court on the next Business Day after the Minimum Liquidity Test Date, to be heard on an expedited basis such that the Plan Effective Date shall not be delayed.
During the Liquidity Period, no later than 3 Business Days after each Liquidity Test Date, a calculation of Liquidity (determined in good faith by the Borrower) (the “Liquidity Calculation”), as of such Liquidity Test Date.
If, after giving effect to the foregoing recalculation, the requirements of Section 6.16(a) would be satisfied, then the requirements of Section 6.16(a) shall be deemed satisfied as of the relevant Liquidity Test Date with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of Section 6.16(a) that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement.
With respect to Section 6.10(a), if the Borrower or any Obligor fails to maintain Liquidity of at least $50,000,000 as of any Liquidity Test Date, the Borrower shall have five (5) Business Days from such Liquidity Test Date to achieve Liquidity of at least $50,000,000 (the “Liquidity Grace Period”); provided, that no Credit Extension shall be made during any Liquidity Grace Period.
On any Liquidity Test Date occurring solely during the Liquidity Period, the Borrower shall not permit Liquidity to be less than $10,000,000.

More Definitions of Liquidity Test Date

Liquidity Test Date means the last day of each fiscal quarter in each fiscal year of the Issuer; and

Liquidity Test Date means January 16, 2009.

Liquidity Test Date has the meaning given to such term in Section 9 of this Agreement.

Liquidity Test Date means each of (i) August 31, 2020 and (ii) thereafter, the 15th day of each calendar month and the last day of each calendar month.

Liquidity Test Date means (i) the last day of each fiscal month (commencing with the month ended May 28, 2023) ending on or following the Amendment No. 3 Effective Date and on or prior to the Covenant Relief Period End Date, (ii) each day on which a Credit Extension is made (other than a conversion of Loans to the other Type, or a continuation of Term SOFR Loans or Eurocurrency Rate Loans) on or following the Amendment No. 3 Effective Date and on or prior to the Covenant Relief Period End Date and (iii) any other date on or following the Amendment No. 3 Effective Date and on or prior to the Covenant Relief Period End Date that the Administrative Agent may request from time to time, upon no less than two Business Days’ notice by the Administrative Agent to the Borrower.

Liquidity Test Date. “Initial Term Lender” means Lenders having an Initial Term Loan Commitment. “Initial Term Loan Commitment” means, as to each Initial Term Lender, its obligation to make an Initial Term Loan to the Borrower pursuant to Amendment No. 2 in an aggregate amount not to exceed the amount set forth opposite such ▇▇▇▇▇▇’s name on Exhibit C to Amendment No. 2 (as in effect on the Amendment No. 2 Effective Date) under the caption “Initial Term Loan Commitment.”. The initial aggregate amount of the Initial Term Loan Commitments on the Amendment No. 24 Effective Date (before giving effect to the funding of the Initial Term Loans) is $100,000,0000. “Initial Term Loans” means the term loans extended by the Initial Term Lenders to the Borrower on the Amendment No. 2 Effective Date pursuant to Amendment No.

Liquidity Test Date means the last day of each fiscal month (commencing for the fiscal month ending July 31, 2026 (the “Initial Liquidity Test Date”)). “Liquidity Test Period” means (a) for the Initial Liquidity Test Date, a period commencing on July 1, 2026 and ending on the Initial Liquidity Test Date, and (b) thereafter, a period commencing on the first day of each fiscal month and ending on the Liquidity Test Date most recently ended. “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Term Loan, a Revolving Credit Loan or a Swing Line Loan.