Cleanup Period definition

Cleanup Period has the meaning specified in Section 10.16.

Cleanup Period means a period of at least four (4) consecutive Business Day during which no loans are outstanding. For purposes of determining whether any four Business Days are consecutive, any intervening non-Business Days shall be disregarded.

Cleanup Period means the time period starting on the last day of each of the Borrower's fiscal quarters and ending on the 21st day of the succeeding quarter. LETTERS OF CREDIT Borrower and GBC are parties to the Letter of Credit Collateral Agreement dated as of even date herewith (the "LC Agreement"), pursuant to which GBC may, in its sole discretion, join with the Borrower in applications for letters of credit ("Letters of Credit") and/or guarantee payment or the performance of the Borrower under Letters of Credit and/or drafts or acceptances relating thereto. Borrower understands and agrees that availability under the Credit Limit for Loans shall be reduced in accordance with the provisions of the LC Agreement. EXCHANGE CONTRACTS Borrower and GBC are parties to the Foreign Exchange Agreement dated as of even date herewith (the "FX Agreement"), pursuant to which GBC may, in its sole discretion, join with the Borrower in applications for foreign exchange contracts ("Exchange Contracts") and/or guarantee payment or the performance of the Borrower under Exchange Contracts. Borrower understands and agrees that availability under the Credit Limit for Loans shall be reduced in accordance with the provisions of the FX Agreement."

Examples of Cleanup Period in a sentence

• Each of the events or circumstances set out in this Clause 23 (other than Clause 23.24 (Acceleration) and Clause 23.25 (Clean-up Period) is an Event of Default.

• Unless indicated otherwise, any reference in this Article IV to “Subsidiary” or “Subsidiaries” assumes that the Vincor Acquisition has been consummated and that Vincor and its Subsidiaries (other than, except with respect to Sections 4.06(a) and 4.07, Specified Vincor Entities at any time during the Cleanup Period) are Subsidiaries of the Borrower.

• If the relevant circumstances are continuing on or after the expiration of the Clean-up Period, the breach of such representation or warranty, if otherwise constituting a Default or an Event of Default, shall then constitute a Default or an Event of Default, as the case may be, notwithstanding the immediately preceding sentence (and without prejudice to the rights and remedies of the Agents and the Lenders hereunder).

• Each of the events or circumstances set out in this Clause 24 (other than Clause 24.20 (Acceleration) and Clause 24.21 (Clean-up Period)) constitutes an Event of Default.

• Each of the events or circumstances set out in this Clause 28 (save for Clause 28.9 (Acceleration) and Clause 28.10 (Clean-up Period)) and Schedule 16 (Additional Events of Default) is an Event of Default.

More Definitions of Cleanup Period

Cleanup Period means the period beginning April 1 of each year (commencing April 1, 2011) and ending March 31 of the following year.

Cleanup Period means the time period starting on the last day of each of the Borrower's fiscal quarters and ending on the 21st day of the succeeding quarter.

Cleanup Period shall have the meaning set forth in Section 5.16 of this Agreement.

Cleanup Period if either any principal of the Term Loans is outstanding or the Additional Commitments have not been terminated or reduced to zero, then each of the following shall constitute a Cleanup Period: (a) if the sum of (x) the aggregate outstanding principal amount of the Advances plus (y) the amount of the Letter of Credit Usage in excess of $1,000,000, exceeds $3,000,000 for each day during any period of 90 consecutive days, the Cleanup Period is the 30-day period commencing immediately after the expiration of such 90-day period, or (b) unless one or more of the Loan Parties (that is not the Immaterial Subsidiary) has consummated an acquisition of Oil and Gas Properties with an aggregate purchase price of $8,000,000 or more during the immediately preceding 90 days, the Cleanup Period is the one day period immediately following any required payment on the Subordinate Indebtedness.

Cleanup Period means the sixty (60) consecutive day period in any fiscal year used by the Borrower to satisfy the cleanup requirement set forth in Section 3.15.

Cleanup Period has the meaning set forth in Section 2.10(c).

Cleanup Period means the 120 day period following the Closing Date.