Increased Reporting Event definition

Increased Reporting Event means if at any time Availability is less than the greater of (a) 15% of the Line Cap and (b) $14,062,500.

Increased Reporting Event means if at any time Availability is less than the greater of (a) 15% of the Maximum Revolver Amount, and (b) $4,500,000.

Increased Reporting Event means if at any time Excess Availability is less than 15% of the Maximum Revolver Amount.

Examples of Increased Reporting Event in a sentence

• Notwithstanding the foregoing, if an Increased Reporting Event has occurred and is continuing, instead of providing the Agent with a Borrowing Base Certificate on a monthly basis, the Borrower shall provide the Agent with a Borrowing Base Certificate on a weekly basis, on Wednesday of each week (as of the immediately preceding Saturday), commencing with the week in which the Increased Reporting Event occurs.

• Notwithstanding anything to the contrary in the Credit Agreement or any other Loan Document, the Borrower Parties hereby further acknowledge and agree that the existence of such Increased Reporting Event shall be deemed to continue until the later of (a) the date that is twelve (12) months after the date of this Amendment and (b) the last day of the month in which the Administrative Borrower delivers written evidence to the Agent that such Increased Reporting Event has ended.

• The Borrower Parties hereby acknowledge and agree that an Increased Reporting Event has occurred and is continuing.

More Definitions of Increased Reporting Event

Increased Reporting Event means any period when a Liquidity Condition has occurred and is continuing.

Increased Reporting Event means if Availability is less than 12% of the Borrowing Base then in effect.

Increased Reporting Event set forth in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and the following substituted therefor:

Increased Reporting Event means if at any time Liquidity is less than the greater of (a) 33.33% of the Line Cap, and (b) $20,000,000.

Increased Reporting Event means (a) the Book Value of the Loan Parties’ Inventory is less than $2,500,000,000, and (b) the failure of the Borrowers to maintain Specified Availability at least equal to twenty percent (20%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Increased Reporting Event shall be deemed continuing until the Book Value has exceeded $2,500,000,000 or Specified Availability has exceeded twenty percent (20%) of the Loan Cap, in all cases, for thirty (30) consecutive calendar days, in which case an Increased Reporting shall no longer be deemed to be continuing for purposes of this Agreement. The termination of an Increased Reporting Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Increased Reporting Event in the event that the conditions set forth in this definition again arise

Increased Reporting Event means the occurrence of either of the following: (a) the occurrence and continuance of any Event of Default, or (b) if at any time Excess Availability is less than 12.5% of the Maximum Revolver Amount.

Increased Reporting Event means if at any time Availability is less than the greater of (a) 15% of the Borrowing Limit, and (b) $20,250,000.