Seasonal Accordion Increase Period definition

Seasonal Accordion Increase Period means, solely to the extent (i) with respect to the first such period, the Accordion Increase Loan Fee has been paid to Lender, (ii) Covenant Liquidity is greater than $40,000,000 and (iii) prior to the Permanent Accordion Increase Date, the period commencing July 1st of each Fiscal Year and ending on the earlier of (a) December 31st of such Fiscal Year and (b) the date upon which Covenant Liquidity is less than $40,000,000.

Examples of Seasonal Accordion Increase Period in a sentence

  • Prior to the first to occur of (i) the commencement of the first Seasonal Accordion Increase Period, if any, or (ii) the Permanent Accordion Increase Date, Borrowers shall pay to Lender the Accordion Increase Loan Fee.

Related to Seasonal Accordion Increase Period