Tier Two Period definition

Tier Two Period means any Tier Two Period as defined in the NBCI Credit Agreement.
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Tier Two Period means any period during which the Security Coverage is less than one-hundred twenty-five percent (125%) but greater than or equal to fifty (50%) and there is Excess Availability of at least $200,000.
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Tier Two Period means any Tier Two Period as defined in the Domestic Credit Agreement.
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Examples of Tier Two Period in a sentence

  • Notwithstanding the interest payable pursuant to subsections (a) and (c), the Borrower, during any Tier Two Period or Tier Three Period, shall pay to the Lender interest of not less than (i) $2083.33 per month during a Tier Two Period (prorated for less than full months), and (ii) $3750 per month during a Tier Three Period (prorated for less than full months).

  • Such minimum interest charge deficiency shall be payable in arrears on the first day of the following month, provided that the sum of the Minimum Interest Charge and the Minimum Interest Charge under the Domestic Credit Facility shall not exceed (i) $2083.33 per month during a Tier Two Period (prorated for less than full months), and (ii) $3750 per month during a Tier Three Period (prorated for less than full months).

  • Each month, upon receipt of a report from NISI on the value of the Eligible Marketable Securities, or sooner at the Lender's sole discretion or (i) if the value of the Eligible Marketable Securities decreases, or (ii) if the Borrower requests that any Investment Property be removed from the NISI Account, the Lender shall determine whether the Borrower is in a Tier One Period, a Tier Two Period or a Tier Three Period.

  • Such minimum interest charge deficiency shall be payable in arrears on the first day of the following month, provided that the sum of the Minimum Interest Charge and the Minimum Interest Charge under the NBCI Credit Facility shall not exceed (i) $2083.33 per month during a Tier Two Period (prorated for less than full months), and (ii) $3750 per month during a Tier Three Period (prorated for less than full months).