Liquidity Impairment definition

Liquidity Impairment means that, if the Payment Obligation was enforced, the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, would not be able to fulfil its financial obligations which such German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, owes to its creditors and which (i) are due at the time the enforcement notice is received by the German Guarantor or (ii) will become due within a period of 30 calendar days following receipt of such enforcement notice (the “Test Period”). For the purposes of determining whether a Liquidity Impairment occurs all liquid assets, i.e., cash, amounts standing to the credit of bank accounts and securities standing to the credit of securities accounts, of the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor of its general partner, shall be taken into account (including liquid assets the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor its general partner, is due to receive within the Test Period as well as any of its assets that can be realized within the Test Period, provided that such realization is legally permitted and such asset is not necessary (nicht betriebsnotwendig) for the operation of its business).
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Liquidity Impairment means a German Note Guarantor being deprived of the liquidity necessary to fulfil its liabilities towards its creditors and thereby violating § 15b (5) InsO.
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Liquidity Impairment shall be deemed to occur to the extent that any necessary cash settlement(s) of Roll-over Warrants, or any payment(s) in accordance with Article V of this Agreement, would:
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Examples of Liquidity Impairment in a sentence

  • The Trustee may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.

  • The Administrative Agent may demand payment under this German Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.

  • The aforementioned provisions shall apply to a limited partnership with a limited liability company as its general partner (GmbH & Co. KG) mutatis mutandis provided that any Capital Impairment and/or Liquidity Impairment shall be determined in relation to the general partner.

  • The Security Agent may demand payment under the German Guarantee to the extent the Auditor determines that the Capital Impairment or Liquidity Impairment has been cured.

  • The Administrative Agent may demand payment under this Guaranty to the extent that the Auditors determine that the Capital Impairment or Liquidity Impairment has been cured.

  • For the purpose of establishing whether a Liquidity Impairment would occur, payments made by FMCD after the Trustee has notified FMCD of its intention to enforce the Note Guarantee with respect to payment obligations that are not due at the time of the payment shall be disregarded, unless the Trustee has consented to such payments (at the direction of the Holders of at least a majority in principal amount of the Notes then outstanding).

  • The Company shall pay such Liquidity Impairment Payments to each Holder in cash or, at the Holder’s election, in shares of Common Stock, on the last Business Day of each month during which an Event has occurred and is continuing.

  • The restrictions set out in Section 2.4(c) in relation to a Liquidity Impairment shall cease to apply, if, at the time a demand for payment under the German Guaranty is made against a German Guarantor, such German Guarantor is unable to pay its debts as they fall due (zahlungsunfähig) or (ii) insolvency proceedings (Insolvenzverfahren) over any of such German Guarantor’s assets have been opened.

  • For the purposes of this Section 2, the value of the Common Stock shall equal the greater of: (i) the average closing bid price of the Common Stock as reported on the National Market for each of the ten Trading Days immediately preceding the date on which the Liquidity Impairment Payment is due or paid, or (ii) the Stated Value.

  • In the event the Company fails to make a Liquidity Impairment Payment within ten (10) Business Days of the date such Liquidity Impairment Payment is due, such Liquidity Impairment Payment shall bear interest at the rate of 1.0% per month until paid in full.


More Definitions of Liquidity Impairment

Liquidity Impairment means a GmbH Guarantor being unable to fulfil its liabilities towards its creditors. “Management Notification” means the notification pursuant to paragraph (b)(iii) below.
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Liquidity Impairment means that the German Guarantor would, subject to subparagraph (3) below, if this Note Guarantee were enforced, not be able to fulfil its financial obligations which the German Guarantor owes to its creditors and which (i) are due at the time of a notification by the Trustee to the relevant German Guarantor of its intention to enforce the Guarantee (the “Demand”), or (ii) will become due within a period of thirty (30) calendar days following such Demand (the “Relevant Period”).
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Liquidity Impairment means that, if the Payment Obligation was enforced, the German Guarantor, or in the case of a German GmbH & Co. KG Guarantor, its general partner, would not be able to fulfil its financial obligations which such German Guarantor, or in the case of a
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Liquidity Impairment means a GmbH Guarantor being unable to fulfil its liabilities towards its creditors.
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Related to Liquidity Impairment

  • Liquidity means, as of any date of determination, the sum of (i) the aggregate amount of Unrestricted Cash of the Obligors at such time plus (ii) Availability at such time.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Standard Investment Period means the period beginning with the first day of any purchase or acquisition of Economic Development Property and ending five (5) years after the Commencement Date.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time (i) short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs or (ii) such other short-term debt ratings, if any, as may be required for the VRDP Shares to satisfy the eligibility criteria under Rule 2a-7 under the 1940 Act.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change of Control and (ii) the first public notice of the occurrence of a Change of Control or of the intention by the Company to effect a Change of Control.

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Enhancement Provider means, with respect to any Series, the Person, if any, designated as such in the related Supplement.

  • Cash Liquidity means, with respect to any Person, on any date of determination, the sum of (i) unrestricted cash, plus (ii) Available Borrowing Capacity, plus (iii) Cash Equivalents.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Credit Provider means a Person providing a guaranty, or other credit support, in form and substance reasonably acceptable to the Administrative Agent, of the obligations of an Included Investor to make Investor Capital Contributions.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Downgrade means the removal of a person's privilege to operate a commercial motor vehicle, as

  • Credit Support Default provisions of Section 5(a)(iii) will apply to Party A and will not apply to Party B.

  • Investor Charge-Offs means Class A Investor Charge-Offs, Class B Investor Charge-Offs and Collateral Charge-Offs.

  • Liquidity Requirement shall have the meaning as set forth in Section 2.12(b).