Minimum Liquidity Period definition

Minimum Liquidity Period means each period, if any, commencing on the date that the Liquidity is less than the Minimum Liquidity and ending on (but not including) the date, if any, that the Liquidity is no longer less than the Minimum Liquidity.
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Minimum Liquidity Period means the period commencing on the Closing Date and ending on the earlier of (a) June 30, 2022 and (y) the first business day after the Administrative Agent receives written notice from the Top Borrower electing to terminate the Minimum Liquidity Period; provided that, in the case of this clause (y), the Administrative Agent shall have received the financial statements referred to in Sections 6.01(a) and (b) and a duly completed Compliance Certificate as set forth in Section 6.02(b) demonstrating compliance, on a Pro Forma Basis, with the financial covenants set forth in Sections 7.10(b) and 7.10(c) as of the last day of the applicable reporting period (as if the Leverage Test Period had commenced prior to the end of such reporting period). Notwithstanding anything to the contrary herein, as of the Amendment No. 3 Effective Date, the Minimum Liquidity Period is no longer in effect.
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Minimum Liquidity Period means the 91-day period prior to the 2025 Convertible Notes Termination Date.
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Examples of Minimum Liquidity Period in a sentence

  • During each Minimum Liquidity Period, a Cash Flow Forecast from time to time promptly (but in any event no later than 5 Business Days) following the request therefore from the Administrator or any Purchaser.

  • During each Minimum Liquidity Period, from time to time a report substantially in the form of Annex J (a “Cash Flow Forecast”) promptly (but in any event no later than 10 Business Days) following the request therefore from the Administrator or any Purchaser.

  • Except for the Servicer’s Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that if so instructed by the Administrative Agent (in its sole discretion) at any time during a Minimum Liquidity Period, the Borrower shall cause the Servicer’s Account to cease being a Linked Account promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.

  • Except for the Servicer’s Account, the Servicer shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that if so instructed by the Administrative Agent (in its sole discretion) at any time during a Minimum Liquidity Period, the Servicer shall cause the Servicer’s Account to cease being a Linked Account promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.

  • Furnish Agent within fifteen (15) days of the end of each month during the Minimum Liquidity Period, a report, in a form reasonably acceptable to Agent, disclosing Liquidity as of the last day of such month.

  • The Servicer may, in its sole discretion, and shall at the direction of the Administrator or any Purchaser Agent (which direction may be given no more than once per week unless a Termination Event has occurred and is continuing), deliver an Interim Report to the Administrator on any Business Day during a Minimum Liquidity Period.

  • On May 15, 2020, the Group’s banking syndicate approved an Amendment to the Credit Facility Agreement (“the Amendment”) for the purposes of calculating the bank covenants with the condition to maintain a minimum of $50.0 million in available liquidity, to include cash, short-term investments, and undrawn credit facility over the Minimum Liquidity Period of May 15, 2020 to December 31, 2021.

  • During the Minimum Liquidity Period, Borrower shall not permit the Liquidity as of the last day of any calendar week to be less than $75,000,000.


More Definitions of Minimum Liquidity Period

Minimum Liquidity Period means any period (a) commencing when Total Liquidity for any consecutive three day calendar period is less than $20.0 million and (b) ending after Total Liquidity is at least $20.0 million for a period of 30 consecutive days.”
Sample 1
Minimum Liquidity Period means the period commencing on the Closing Date and ending on the earlier of (a) June 30, 2022 and (y) the first business day after the Administrative Agent receives written notice from the Borrower electing to terminate the Minimum Liquidity Period; provided that, in the case of this clause (y), the Administrative Agent shall have received the financial statements referred to in Sections 6.01(a) and (b) and a duly completed Compliance Certificate as set forth in Section 6.02(b) demonstrating compliance, on a Pro Forma Basis, with the financial covenants set forth in Sections 7.10(b) and 7.10(c) as of the last day of the applicable reporting period (as if the Leverage Test Period had commenced prior to the end of such reporting period).
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Minimum Liquidity Period means the 91-day period prior to the 2025 Convertible Notes Termination Date. “Multiemployer Plan” shall mean a Plan that is a “multiemployer plan” as defined in Sections 3(37) and 4001(a)(3) of ERISA. “Multiple Employer Plan” shall mean a Plan that has two or more contributing sponsors (including any Loan Party or any member of the Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. “Net Cash Proceeds” means, with respect to the sale or disposition of any asset by a Person or a Casualty Event, the sum of cash and Cash Equivalent received by such Person in connection with such sale, disposition, or Casualty Event less (i) the reasonable fees, commissions, and expenses related thereto and required to be paid by such Person in connection with such sale or disposition, less (ii) all taxes paid or reasonably estimated to be payable in connection with such sale or disposition to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Loan Party or any of its Subsidiaries, and are properly attributable to such transaction, less (iii) any reserve for adjustment in respect of (x) the sale price of the property that is the subject of such sale or disposition established in accordance with GAAP and (y) any liabilities associated with such property or asset and retained by such Person after such sale or disposition, to the extent that in each case the funds described above in this clause (iii) are (x) deposited into escrow with a third party escrow agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with Section 2.14 of this Agreement at such time when such 26
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Related to Minimum Liquidity Period

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Facility Period means the period starting on the date of this Agreement and ending on such date as all obligations whatsoever of all of the Security Parties under or pursuant to the Security Documents whensoever arising, actual or contingent, have been irrevocably paid, performed and/or complied with;

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Availability Period means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments.

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • Minimum Term means the minimum period of service for each Service as shown on the Service Agreement, such period to start on the date on which the relevant Service is first made available to you for use;

  • Penalty Period has the meaning set forth in Section 6.3.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Credit Period has the meaning given to it in Section 42(f)(1) of the Code.

  • Minimum Commitment means any minimum commitment of time and usage for use of the Services by You during the Term of this Agreement.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Letter of Credit Termination Date means the later of (i) that date upon which the Letter of Credit shall expire or terminate pursuant to its terms, or (ii) that date to which the expiration or termination of the Letter of Credit may be extended, from time to time, either by extension or renewal of the existing Letter of Credit or the issuance of a Substitute Letter of Credit.

  • Eligibility period means the period in which a business may

  • Minimum Collateral Amount means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during any period when a Lender constitutes a Defaulting Lender, an amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (b) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.14(a)(i), (a)(ii) or (a)(iii), an amount equal to 105% of the Outstanding Amount of all L/C Obligations, and (c) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Commitment Period means the period commencing on the earlier to occur of (i) the Effective Date, or (ii) such earlier date as the Company and the Investor may mutually agree in writing, and expiring on the earliest to occur of (x) the date on which the Investor shall have made payment of Advances pursuant to this Agreement in the aggregate amount of Five Million Dollars ($5,000,000), (y) the date this Agreement is terminated pursuant to Section 2.5, or (z) the date occurring twenty-four (24) months after the Effective Date.

  • Revolving Commitment Termination Date means the earliest of (i) July 31, 2018, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.8 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise).

  • Benchmark Unavailability Period means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14 and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14.

  • Grace Period Extension Date means, if:

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Credit allowance date means with respect to any qualified equity investment:

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.