Weekly Monitoring Event definition

Weekly Monitoring Event means (a) a Specified Event of Default has occurred and is continuing or (b) the Borrower has failed to maintain, for five (5) consecutive Business Days, Excess Availability of the greater of (i) $35,000,000 and (ii) 12.5% of the Maximum Credit; provided that a Weekly Monitoring Event shall be deemed continuing until the date on which, as applicable, in the case of the foregoing clause (a), such Specified Event of Default is cured or waived in accordance with Section 12.1, or, in the case of the foregoing clause (b), Excess Availability has been greater than or equal to the greater of (i) $35,000,000 and (ii) 12.5% of the Maximum Credit, in each case under clauses (i) and (ii), for at least thirty (30) consecutive days.
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Weekly Monitoring Event means (i) an Event of Default has occurred and is continuing or (ii) the Borrowers have failed to maintain (a) Excess Availability of at least $50,000,000 for fifteen (15) consecutive calendar days or (b) Aggregate Excess Availability of at least 10% of the Borrowing Base for five (5) consecutive Business Days, and the Administrative Agent has notified the Parent Borrower thereof. For purposes of this Agreement, the occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until (x) if the Weekly Monitoring Event arises under clause (i) above, so long as such Event of Default is continuing, or (y) if the Weekly Monitoring Event arises as a result of the Borrowers’ failure to achieve (A) Excess Availability as required by clause (ii)(a), until Excess Availability has exceeded at least $50,000,000 or (B) Aggregate Excess Availability as required by clause (ii)(b), until Aggregate Excess Availability has exceeded at least 10% of the Borrowing Base, in each case for thirty (30) consecutive days, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Weekly Monitoring Event shall be deemed continuing (even if Excess Availability exceeds the required amount for thirty (30) consecutive days) at all times in any four fiscal quarter period after a Weekly Monitoring Event has occurred and been discontinued on two occasions in such four fiscal quarter period; provided further that, notwithstanding the foregoing, it is agreed that a Weekly Monitoring Event shall not be deemed to have occurred and be continuing as a result of the Loans made on the Closing Date unless and until additional Loans are made or Letters of Credit are issued hereunder and a Weekly Monitoring Event subsequently occurs.
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Weekly Monitoring Event means that the Borrower fails to maintain Availability of at least the greater of (i) $15.0 million and (ii) 12.5% of the Line Cap, in each case, for five consecutive Business Days. Once commenced, a Weekly Monitoring Event shall be deemed continuing until the date on which Availability has been at least equal to the greater of (i) $15.0 million and (ii) 12.5% of the Line Cap for 20 consecutive days.
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More Definitions of Weekly Monitoring Event

Weekly Monitoring Event means (i) an Event of Default has occurred and is continuing or (ii) a Liquidity Event has occurred and is continuing. For purposes of this Agreement, the occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until (x) if the Weekly Monitoring Event arises under clause (i) above, so long as such Event of Default is continuing, or (y) if the Weekly Monitoring Event arises under clause (ii) above, so long as such Liquidity Event is continuing, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Weekly Monitoring Event shall be deemed continuing at all times in any four fiscal quarter period after a Weekly Monitoring Event has occurred and been discontinued on two occasions in such four fiscal quarter period.
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Weekly Monitoring Event means the Parent Borrower has failed to maintain Excess Availability of at least $33.5 million for five (5) consecutive Business Days, and the Administrative Agent has notified the Parent Borrower thereof. For purposes of this Agreement, the occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until Excess Availability has exceeded at least $33.5 million for thirty (30) consecutive days, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Weekly Monitoring Event shall be deemed continuing (even if Excess Availability exceeds the required amount for thirty (30) consecutive days) at all times in any four fiscal quarter period after a Weekly Monitoring Event has occurred and been discontinued on two occasions in such four fiscal quarter period.
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Weekly Monitoring Event means the Parent Borrower has failed to maintain Excess Global Availability of at least $90,000,000 plus 12.5% of any Revolving Commitment Increase for five (5) consecutive Business Days, and the Administrative Agent has notified the Parent Borrower thereof. For purposes of this Agreement, the occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until Excess Global Availability has exceeded at least $90,000,000 plus 12.5% of any Revolving Commitment Increase for thirty (30) consecutive days, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Weekly Monitoring Event shall be deemed continuing (even if Excess Global Availability exceeds the required amount for thirty (30) consecutive days) at all times in any four fiscal quarter period after a Weekly Monitoring Event has occurred and been discontinued on two occasions in such four fiscal quarter period.
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Weekly Monitoring Event means the Borrower has failed to maintain, for five (5) consecutive Business Days, Excess Availability of the greater of (i) $25,000,000 and (ii) 15% of the Maximum Credit (without giving effect to the FILO Reserve); provided that a Weekly Monitoring Event shall be deemed continuing until the date on which, Excess Availability has been greater than or equal to the greater of (i) $25,000,000 and (ii) 15% of the Maximum Credit (without giving effect to the FILO Reserve), in each case under clauses (i) and (ii), for at least thirty (30) consecutive days.
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Weekly Monitoring Event means (i) an Event of Default has occurred and is continuing or (ii) a Liquidity Event has occurred and is continuing. For purposes of this Agreement, the occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until (x) if the Weekly Monitoring Event arises under clause (i) above, so long as such Event of Default is continuing, or (y) if the Weekly Monitoring Event arises under clause (ii) above, so long as such Liquidity Event is continuing, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing for purposes of this Agreement.
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Weekly Monitoring Event means either (i) the occurrence and continuance of any Specified Event of Default or (ii) a Liquidity Event under clause (b) or (c) of the definition of “Liquidity Event” has existed for five (5) consecutive Business Days, and in the case of this clause (ii), the Administrative Agent has notified the Administrative Borrower thereof. The occurrence of a Weekly Monitoring Event shall be deemed continuing at the Administrative Agent’s option until a Liquidity Exit Event occurs, in which case a Weekly Monitoring Event shall no longer be deemed to be continuing; provided that a Weekly Monitoring Event shall be deemed continuing (even if a Liquidity Exit Event otherwise occurs) at all times in any four fiscal quarter period after a Weekly Monitoring Event has occurred and been discontinued on two occasions in such four fiscal quarter period. “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment by (ii) the then outstanding principal amount of such Indebtedness. “wholly-owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director’s qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned Subsidiaries of such Person. “Withdrawal Liability” means the liability of a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. SECTION 1.02
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Related to Weekly Monitoring Event

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Triggering Events means each of the following events:

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Accounting Event has the meaning set forth in the Supplemental Indenture.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Potential Change of Control Announcement means any public announcement or statement by the Issuer or by any actual or potential bidder or any designated adviser thereto relating to any specific or any near-term potential Change of Control (whereby "near-term" shall mean that such potential Change of Control is reasonably likely to occur, or is publicly stated by the Issuer or by any such actual or potential bidder or any such designated adviser to be intended to occur, within four months of the date of such announcement or statement).

  • Potential Change of Control means the date as of which (1) the Company enters into an agreement the consummation of which, or the approval by shareholders of which, would constitute a Change of Control; (ii) proxies for the election of Directors of the Company are solicited by anyone other than the Company; (iii) any person (including, but not limited to, any individual, partnership, joint venture, corporation, association or trust) publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change of Control; or (iv) any other event occurs which is deemed to be a Potential Change of Control by the Board and the Board adopts a resolution to the effect that a Potential Change of Control has occurred.

  • Ratings Event means (i) a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by one or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade or withdrawal is not attributable in whole or in part to the applicable Change of Control) and (ii) the Notes do not have an Investment Grade Rating from any Rating Agency.