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).
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.
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.
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.