Streamline Eligible definition

Streamline Eligible means at all times that Borrower’s Adjusted Quick Ratio for the immediately preceding month is greater than 1.10 to 1.00, as determined by Bank, in its sole discretion (the “Streamline Threshold”); provided, however, Borrower shall not be Streamline Eligible during the continuance of an Event of Default. At any time that Borrower’s Adjusted Quick Ratio is less than or equal to the Streamline Threshold, Borrower will not be Streamline Eligible until the first (1st) day of the first (1st) month following Bank’s confirmation that (a) Borrower’s Adjusted Quick Ratio is greater than the Streamline Threshold as of such date and (b) Borrower’s Adjusted Quick Ratio is greater than the Streamline Threshold at all times during the immediately preceding monthly reporting period as reported in each monthly Compliance Certificate.
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Streamline Eligible means at all times that Borrower’s Net Cash for the immediately preceding month is greater than the Net Cash Threshold. Borrower will not be Streamline Eligible until such time as Bank confirms that the Net Cash is greater than the Net Cash Threshold at all times during the immediately preceding month.
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Streamline Eligible means at all times that Borrower’s Quick Ratio for the immediately preceding month is greater than 1.25:1.00, as determined by Bank, in its sole discretion (the “Streamline Threshold”); provided, however, Borrower shall not be Streamline Eligible during the continuance of an Event of Default. At any time that Borrower’s Quick Ratio is less than the Streamline Threshold, Borrower will not be Streamline Eligible until such time as Bank confirms that (a) Borrower’s Quick Ratio is greater than the Streamline Threshold as of such date and (b) Borrower’s Quick Ratio is greater than the Streamline Threshold at all times during the immediately preceding three (3) monthly reporting periods as reported in each monthly Compliance Certificate as of the first (1st) day of the first (1st) month following Bank’s receipt of such monthly Compliance Certificate.
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Examples of Streamline Eligible in a sentence

  • At all times when Borrower is Streamline Eligible, provided no Event of Default has occurred and is continuing, funds in the blocked account will be remitted to Borrower’s Designated Deposit Account, but at all other times, such collections shall be applied to reduce the Obligations on a daily basis, prior to being deposited into Borrower’s Designated Deposit Account.

  • At all times when Borrower is Streamline Eligible, provided no Event of Default has occurred and is continuing, funds in the Lockbox will be remitted to Borrower’s Designated Deposit Account, but at all other times, such collections shall be applied to reduce the Obligations on a daily basis, prior to being deposited into Borrower’s Designated Deposit Account.

  • The interest rate shall be adjusted based upon changes to Borrower being Streamline Eligible as of the first (1st) day of the first (1st) month immediately following such change.

  • Whether or not an Event of Default has occurred and is continuing, Borrower shall immediately deliver all payments on and proceeds of Accounts to the Cash Collateral Account (i) to be applied to immediately reduce the Obligations relating to the Revolving Line when Borrower is not Streamline Eligible, or (ii) to be transferred on a daily basis to Borrower’s operating account with Bank when Borrower is Streamline Eligible.

  • Unless an Event of Default has occurred and is continuing, such inspections or audits shall be conducted no more often than once every (a) four (4) months at all times that Borrower is not Streamline Eligible or (b) twelve (12) months at all other times (or more frequently as Bank shall determine conditions warrant, in its sole discretion).

  • Subject to Section 2.6(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to (A) the Prime Rate at all times that Borrower is Streamline Eligible, and (B) the Prime Rate, plus two and one half of one percent (2.50%) at all other times, which interest shall be payable monthly in accordance with Section 2.6(d) below.

  • Each Advance shall bear interest on the outstanding principal amount thereof from the date when made, continued or converted until paid in full at a rate per annum equal to (i) at all times that Borrower is Streamline Eligible (A) for Prime Rate Advances, the Prime Rate, and (B) for LIBOR Advances, the LIBOR Rate plus the LIBOR Rate Margin, and (ii) at all other times, the Prime Rate plus one percent (1.0%).

  • Subject to Section 2.6(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to (A) the Prime Rate at all times that Borrower is Streamline Eligible, and (B) the Prime Rate, plus one and one half of one percent (1.50%) at all other times, which interest shall be payable monthly in accordance with Section 2.6(d) below.

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  • Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to either (i) the Prime Rate, plus one and one quarter of one percent (1.25%) at all times that Borrower is Streamline Eligible or (ii) the Prime Rate, plus two and one half of one percent (2.50%) at all other times.


More Definitions of Streamline Eligible

Streamline Eligible means at all times that Borrower’s Net Cash for the immediately preceding calendar month is greater than One Million Dollars ($1,000,000) (the “Streamline Threshold”); provided, however, Borrower shall not be Streamline Eligible during the continuance of an Event of Default. At any time that Borrower’s Net Cash is less than the Streamline Threshold, Borrower will not be Streamline Eligible until such time as Bank confirms that (a) Borrower’s Net Cash is greater than the Streamline Threshold as of such date and (b) Borrower’s Net Cash is greater than the Streamline Threshold at all times during the immediately preceding calendar month.
Sample 1Sample 2
Streamline Eligible means, at all times that Borrower’s Net Cash is greater than or equal to Fifty Million Dollars ($50,000,000) and no Event of Default has occurred and is continuing; provided, however, if Borrower’s Net Cash is less than Fifty Million Dollars ($50,000,000) on any day, Borrower will not be Streamline Eligible until such time as Bank confirms that Borrower’s Net Cash was greater than or equal to Fifty Million Dollars ($50,000,000) at all times during the immediately preceding full calendar month. A period in which Borrower is Streamline Eligible (other than one commencing on the Effective Date, if applicable) may only commence on the first (1st) day of a calendar month.
Sample 1
Streamline Eligible means, at all times that Borrower’s Net Cash is greater than or equal to Thirty-Five Million Dollars ($35,000,000) and no Event of Default has occurred and is continuing; provided, however, if Borrower’s Net Cash is less than Thirty-Five Million Dollars ($35,000,000) on any day, Borrower will not be Streamline Eligible until such time as Bank confirms that Borrower’s Net Cash was greater than or equal to Thirty-Five Million Dollars ($35,000,000) at all times during the immediately preceding full calendar month. A period in which Borrower is Streamline Eligible (other than one commencing on the Effective Date, if applicable) may only commence on the first (1st) day of a calendar month.
Sample 1
Streamline Eligible means at all times that Borrower’s unrestricted cash maintained at Bank for the immediately preceding month is greater than the outstanding Obligations, as determined by Bank, in its sole discretion (the “Streamline Threshold”); provided, however, Borrower shall not be Streamline Eligible during the continuance of an Event of Default. At any time that Borrower’s unrestricted cash maintained at Bank is equal to or less than the Streamline Threshold, Borrower will not be Streamline Eligible until such time as Bank confirms that (a) Borrower’s cash maintained at Bank is greater than the Streamline Threshold as of such date and (b) Borrower’s unrestricted cash maintained at Bank is greater than the Streamline Threshold at all times during the immediately preceding thirty (30) day period.
Sample 1
Streamline Eligible means at all times that Borrower’s Net Cash for the immediately preceding fiscal quarter is greater than Zero Dollars ($0.00), as determined by Bank, in its reasonable discretion (the “Streamline Threshold”); provided, however, Borrower shall not be Streamline Eligible during the continuance of an Event of Default. At any time that Borrower’s Net Cash is equal to or less than the Streamline Threshold, Borrower will not be Streamline Eligible until the first (1st) day of the first (1st) month following Bank’s confirmation that (a) Borrower’s Net Cash is greater than the Streamline Threshold as of such date and (b) Borrower’s Net Cash is greater than the Streamline Threshold at all times during the immediately preceding three (3) monthly reporting periods. Borrower shall give Bank prior written notice of Borrower’s intention to become Streamline Eligible. Bank will test whether Borrower is Streamline Eligible on the first (1st) day of each month.
Sample 1

Related to Streamline Eligible

  • DWAC Eligible means that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s Operational Arrangements, including without limitation transfer through DTC’s DWAC system, (b) the Company has been approved (without revocation) by the DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program, (d) the Conversion Shares are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent does not have a policy prohibiting or limiting delivery of the Conversion Shares via DWAC.

  • S&P Eligible Asset means: (1) cash (excluding any cash irrevocably deposited by the Fund for the payment of any liabilities within the meaning of MTP Basic Maintenance Amount), (2) Receivables for Municipal Obligations Sold, (3) S&P Hedging Transactions or (4) a Municipal Obligation (including Inverse Floater as defined below) owned by the Fund that (A) is interest bearing and pays interest at least semi-annually; (B) is payable with respect to principal and interest in U.S. Dollars; (C) is not subject to a covered call or put option written by the Fund; (D) except for Inverse Floaters, is not part of a private placement of Municipal Obligations; and (E) except for Inverse Floaters, is part of an issue of Municipal Obligations with an original issue size of at least $10 million. Any Municipal Obligation that is a part of an original issue size of less than $10 million must carry a rating of at least “AA” by S&P or “AAA” by Moody’s, Fitch or another nationally recognized statistical rating organization. Notwithstanding the foregoing limitations:

  • Eligible veteran means an individual who is certified by the Wisconsin Department of Veterans Affairs as meeting all of the following conditions:

  • Eligible Unbilled Receivable means, at any time, any Unbilled Receivable if (a) the related Originator has recognized the related revenue on its financial books and records under GAAP, and (b) not more than thirty (30) days have expired since the date such Unbilled Receivable arose.

  • Eligible Portfolio Investment means any Portfolio Investment held by any Obligor (and solely for purposes of determining the Borrowing Base, Cash and Cash Equivalents held by any Obligor) that, in each case, meets all of the criteria set forth on Schedule 1.01(d) hereto; provided, that no Portfolio Investment, Cash or Cash Equivalent shall constitute an Eligible Portfolio Investment or be included in the Borrowing Base if the Collateral Agent does not at all times maintain a first priority, perfected Lien (subject to no other Liens other than Eligible Liens) on such Portfolio Investment, Cash or Cash Equivalent or if such Portfolio Investment, Cash or Cash Equivalent has not been or does not at all times continue to be Delivered (as defined in the Guarantee and Security Agreement). Without limiting the generality of the foregoing, it is understood and agreed that any Portfolio Investments that have been contributed or sold, purported to be contributed or sold or otherwise transferred to any Financing Subsidiary, or held by any Financing Subsidiary, or which secure obligations of any Financing Subsidiary, shall not be treated as Eligible Portfolio Investments. Notwithstanding the foregoing, nothing herein shall limit the provisions of Section 5.12(b)(i), which provide that, for purposes of this Agreement, all determinations of whether an Investment is to be included as an Eligible Portfolio Investment shall be determined on a settlement-date basis (meaning that any Investment that has been purchased will not be treated as an Eligible Portfolio Investment until such purchase has settled, and any Eligible Portfolio Investment which has been sold will not be excluded as an Eligible Portfolio Investment until such sale has settled); provided that no such Investment shall be included as an Eligible Portfolio Investment to the extent it has not been paid for in full.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that (i) are supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, or (ii) that Bank approves on a case-by-case basis.

  • Fitch Eligible Assets means the assets of the Company set forth in the Fitch Guidelines as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with Fitch’s ratings then assigned on the MRP Shares.

  • Unsubsidized Xxxxxxxx Loan means a Loan made pursuant to Section 428H of the Higher Education Act.

  • Subsidized Xxxxxxxx Loan means a Loan for which the interest rate is governed by Section 427A(a) or 427A(d) of the Higher Education Act.

  • Eligible Finished Goods Inventory means Eligible Inventory consisting of finished goods available for sale (as determined in a manner acceptable to the Administrative Agent in its Permitted Discretion and consistent with past practices).

  • Medicare eligible expenses means expenses of the kinds covered by Medicare Parts A and B, to the extent recognized as reasonable and medically necessary by Medicare.

  • eligible penalty means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding;

  • Eligible pupil means a pupil who has been expelled from school under the mandatory expulsion provisions in section 1311 or 1311a of the revised school code, MCL 380.1311 and 380.1311a, a pupil who has been suspended or expelled from school under a local policy, a pupil who is referred by a court, a pupil who is pregnant or is a parent, a pupil who was previously a dropout, or a pupil who is determined by the district to be at risk of dropping out.

  • Eligible applicant means a school district, joint

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount or (ii) the Maximum Revolving Advance Amount, minus (b) the sum of (i) the outstanding amount of Advances plus (ii) all amounts due and owing to Borrower's trade creditors which are outstanding beyond normal trade terms, plus (iii) fees and expenses for which Borrower is liable but which have not been paid or charged to Borrower's Account.

  • Eligible child means the children of:

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Eligible Vehicle means a Vehicle (which includes, for the avoidance of doubt, a Service Vehicle) in Spain, Germany, The Netherlands, Italy or France (as applicable):

  • Eligible advance means an advance made before August 19, 1993.

  • Domestic Reserve Percentage means for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including without limitation any basic, supplemental or emergency reserves) for a member bank of the Federal Reserve System in New York City with deposits exceeding five billion dollars in respect of new non-personal time deposits in dollars in New York City having a maturity comparable to the related Interest Period and in an amount of $100,000 or more. The Adjusted CD Rate shall be adjusted automatically on and as of the effective date of any change in the Domestic Reserve Percentage.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Other Rating Agency Eligible Assets means assets of the Company designated by any Other Rating Agency as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with such Other Rating Agency’s rating of any series of MRP Shares.

  • Unencumbered Amount means, for the Class B ( - ) Notes, an amount equal to the Nominal Liquidation Amount of the Class B ( - ) Notes minus the Encumbered Amount for the Class B ( - ) Notes.

  • Eligible Asset An Asset: