Availability Trigger definition

Availability Trigger means Availability is less than the greater of (i) $15,000,000 and (ii) 20% of the Line Cap.
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Availability Trigger means the earliest to occur of (a) October 1, 2023, (b) the date on which the EE Milestone is achieved, and (c) any earlier date specified in writing as the “Availability Trigger” by the Agent, acting at the direction of the Required Lenders, in turn, solely with respect to this clause (c), acting pursuant to a determination by the Agent’s investment committee in such committee’s sole and unfettered discretion.
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Availability Trigger shall have the meaning assigned in Section 5.2(e).
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Examples of Availability Trigger in a sentence

  • For purposes of this testing, (a) the Fixed Charge Coverage Ratio will be computed based upon the information available as of the last day of the most recent fiscal quarter ending prior to such day for which financial statements are available, and (b) whether an Availability Trigger Event exists will be continually tested as of the close of business each day so that the Fixed Charge Coverage Ratio may apply (or not apply) multiple times within any particular fiscal quarter.

  • If at the close of business on any day an Availability Trigger Event shall exist, permit the Fixed Charge Coverage Ratio to be less than 1.0 to 1.0 until such time as no Availability Trigger Event shall exist.

  • Additionally, for purposes of this Section 6.10, when calculating Excess Availability under the definition of Availability Trigger Event, Excess Availability for a non-Business Day shall be Excess Availability as of the immediately preceding Business Day.

  • Notwithstanding the foregoing, after the occurrence and during the continuance of an Availability Trigger Event, the U.S. Borrower shall, if requested by the Administrative Agent, execute and deliver to the Administrative Agent Borrowing Base Certificates weekly.

  • During an Availability Trigger Period, the Loan Parties will not permit the Fixed Charge Coverage Ratio, as of the end of any fiscal month (within such Availability Trigger Period) for the trailing twelve (12) months then ending, to be less than 1.00 to 1.00.

  • Assuming no additional Low Availability Trigger Date or Double-Sided Application Trigger Date occurs following the Second Amendment Effective Date, the first date on which any Low Availability Period or Double-Sided Application Period may end is June 1, 2009.

  • The Borrowers shall send the Lender a copy of each credit memorandum in excess of $250,000 (or $250,000 in the aggregate during an Availability Trigger Period or during the existence of an Event of Default) as soon as issued by any Loan Party, and the applicable Borrower shall promptly report each such credit memo and each of the facts required to be disclosed to the Lender in accordance with this Section 5.14(d) on the Borrowing Base Certificates submitted by it.

  • Trigger Event — any date on which (a) an Event of Default occurs or (b) an Excess Availability Trigger Event occurs.

  • Notwithstanding the foregoing, after the Contract Availability Trigger Date, Accel Inc.

  • Excess Availability Trigger Event — the first date on which Excess Availability for five (5) consecutive Business Days is less than the greater of (i) $65,000,000 or (ii) 15% of the lesser of (x) the aggregate Commitments at such time and (y) the Aggregate Borrowing Base at such time.


More Definitions of Availability Trigger

Availability Trigger means Availability is less than 17.0% of the Line Cap.
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Availability Trigger means any event or circumstance in which (a) Availability is less than $3,000,000 on any date, or (b) Availability averages less than $6,000,000 for any calendar month.
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Availability Trigger is, at any time after the First Loan Modification Effective Date, the date on which Borrower provides Bank evidence reasonably satisfactory to Bank that Borrower has received net proceeds from the issuance of additional equity of Borrower of at least Thirty Five Million Dollars ($35,000,000), issued to investors of similar character and quality as the investors in existence as of the Effective Date and otherwise reasonably acceptable to Bank.
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Availability Trigger is, at any time after the Effective Date, the date on which (i) Borrower provides Bank evidence reasonably satisfactory to Bank that Borrower has achieved mechanistic proof of concept for Borrower’s MRG-106 Phase I clinical trial; and (ii) Bank receives a satisfactory update from Borrower’s investors, in form and substance reasonably acceptable to Bank.
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Related to Availability Trigger

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Carve-Out Trigger Notice means a written notice delivered by email (or other electronic means) by the DIP Agent (acting at the direction of the Required DIP Lenders) or Required DIP Lenders to the Debtors, their lead restructuring counsel, the U.S. Trustee, and counsel to the Creditors’ Committee, which notice may be delivered following the occurrence and during the continuation of an Event of Default and acceleration of the DIP Obligations under the DIP Facility, stating that the Post-Carve Out Trigger Notice Cap has been invoked.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.