Zero Exposure definition

Zero Exposure has the meaning ascribed to it in paragraph 11.1.1.
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Examples of Zero Exposure in a sentence

  • Prior to the Zero Exposure Effective Date, each of the Parent and the Borrower will not, as of the last day of any fiscal quarter of the Parent, commencing with the last day of the first full fiscal quarter ending after the Effective Date, permit the ratio of (i) Consolidated Current Assets to (ii) Consolidated Current Liabilities to be less than 1.0 to 1.0. This ratio shall be computed for the Parent, the Borrower and the other Subsidiaries on a consolidated basis.

  • Upon the occurrence of the Zero Exposure Effective Date, any Lender that delivers a written notice of resignation to the Administrative Agent declaring its intention to resign as a Lender under this Agreement shall be deemed to no longer be, and shall, upon acceptance of such resignation by the Administrative Agent (such acceptance not to be unreasonably withheld or delayed), no longer be, a Lender hereunder.

  • Upon receipt of any such notice of resignation, the Required Lenders (or, from and after the Zero Exposure Effective Date, the Majority Swap Providers) shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.

  • Prior to the Zero Exposure Effective Date, no Lender or any Affiliate of a Lender shall have any voting or consent rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements.

  • After the First-Out Zero Exposure Date, if the Loan Parties have any Excess Cash on the fifteenth day of each month, the Borrower shall repay the then-outstanding Loans on such date (or if not a Business Day, the immediately succeeding Business Day), which prepayment shall be in an amount equal to the amount of such Excess Cash.

  • Prior to the Zero Exposure Effective Date, each of the Parent and the Borrower will not, as of the last day of any fiscal quarter of the Parent, commencing with the third full fiscal quarter ending after the Effective Date, permit the Consolidated First-Out Leverage Ratio to be greater than 2.50:1.00.