Springing DACA Event definition

Springing DACA Event means (a) any date on which Borrower has Minimum Liquidity of less than $10,000,000 or (b) the occurrence and continuance of an Event of Default under Section 7.1 (c) (arising from a breach of Section 5.26), Section 7.1(d), Section 7.1 (g), Section 7.1 (h) or Section 7.1(r).
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Springing DACA Event means (a) any date on which Borrower has Minimum Liquidity of less than $2,000,000 or (b) the occurrence and during the continuance of an Event of Default.
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Springing DACA Event means any date on which (a) the Springing DACA Ratio is less than 2.0 to 1.0 or (b) (i) the Springing DACA Ratio is less than 2.5 to 1.0 but equal to or greater than 2.0 to 1.0 and (ii) Borrower has less than $5,000,000 in immediately available unencumbered cash on hand; provided that such Springing DACA Event shall no longer be in effect upon the date on which (a “Springing DACA Cure”) the Borrower shall have maintained a Springing DACA Ratio of at least 2.5 to 1.0 for thirty consecutive days immediately prior to such date. Notwithstanding anything to the contrary in this definition of Springing DACA Event, no more than 2 Springing DACA Cures per calendar year and no more than 4 Springing DACA Cures during the term of this Agreement are available to be used to cure a Springing DACA Event pursuant to the immediately foregoing proviso.
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Examples of Springing DACA Event in a sentence

  • However, for purposes of computing interest on the Obligations, and solely after the occurrence of a Springing DACA Event, such items shall be deemed applied by Agent two Business Days after Agent’s receipt of advice of deposit thereof at Agent’s Bank.


More Definitions of Springing DACA Event

Springing DACA Event means the occurrence and continuance of an Event of Default.
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Related to Springing DACA Event

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Put Event means the occurrence of:

  • Triggering Event II means the date on which the Common Share Price is greater than $15.50 after the Closing Date, but within the Earn Out Period.