Liquidity Trigger Event definition

Liquidity Trigger Event means an event that occurs when Liquidity is below $15,000,000 and continues until such time as Liquidity is greater than $15,000,000.
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Liquidity Trigger Event means any time at which Overall Excess Availability is less than the Excess Availability Minimum Amount. The cessation of any Liquidity Trigger Event shall not impair the commencement of any subsequent Liquidity Trigger Event.
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Liquidity Trigger Event means the first to occur of (1) an Event of Default (y) arising out of a breach of Section 7.25 or (z) under Section 9.1 (a), or (2) acceleration of the Loans pursuant to Section 9.2 (a)(B).
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Examples of Liquidity Trigger Event in a sentence

  • The occurrence of each Event of Default, each Potential Event of Default, each Termination Event and each Liquidity Trigger Event, by a statement of the president, executive vice president, chief executive officer or chief financial officer of such GWG Party.

  • The Agent shall not be deemed to have knowledge of any Event of Default, Master Servicer Default, Termination Event, or Liquidity Trigger Event or any event which, with the giving of notice or the passage of time, or both, would constitute an Event of Default, Master Servicer Default, Termination Event or Liquidity Trigger Event, unless the Agent has received notice from the Borrower, the Master Servicer or a Secured Party.

  • Notwithstanding the foregoing, at any time prior to the occurrence of a Liquidity Trigger Event, Guaranties shall not be prohibited by the preceding sentence, and any such Guaranties permitted to be made shall be permitted to continue to exist following a Liquidity Trigger Event.

  • If on September 30, 2007 (i) a Liquidity Trigger Event has not occurred as of such date and (ii) no Default or Event of Default has occurred (including, without limitation, a breach of the foregoing financial covenants as tested on September 30, 2007), the financial covenants set forth in this Annex G will be temporarily suspended as of the next Fiscal Quarter ended December 31, 2007.

  • For purposes of clarity, and by way of example, if a Liquidity Trigger Event shall occur on April 15, 2007, the first Liquidity Trigger Period shall be from April 15, 2007 through and including July 14, 2007, during which time all financial covenants above must be complied with by Borrowers.


More Definitions of Liquidity Trigger Event

Liquidity Trigger Event means, any date on which, either before or after giving effect to Borrowings requested or deemed requested on such date, Availability is less than $40,000,000. A Liquidity Trigger Event shall be deemed to have occurred and be continuing from the occurrence of such Liquidity Trigger Event up to but not including the first date upon which a Liquidity Release Event occurs following such Liquidity Trigger Event.
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Liquidity Trigger Event means the occurrence of any of the following: (a) at any time prior to March 1, 2013, the Borrowing Base Surplus is less than the Six-Month Cushion, (b) at any time on or after March 1, 2013 but prior to September 1, 2013, the Borrowing Base Surplus is less than the Nine-Month Cushion or (c) at any time on or after September 1, 2013, the Borrowing Base Surplus is less than the Twelve-Month Cushion.
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Liquidity Trigger Event has the meaning set forth in Section 9.08.
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Liquidity Trigger Event means the occurrence of any of the following: (a) at any time prior to March 1, 2013, the Borrowing Base Surplus is less than the Six-Month Cushion, (b) at any time on or after March 1, 2013 but prior to September 1, 2013, the Borrowing Base Surplus is less than the Nine- Month Cushion or (c) at any time on or after September 1, 2013, the Borrowing Base Surplus is less than the Twelve-Month Cushion.
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Liquidity Trigger Event set forth in Section 1.1 to the Credit Agreements to read in its entirety as follows:
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Liquidity Trigger Event means either of the following (except to the extent that such events constitute a Deemed Liquidation Event): (i) the sale or issuance of any equity or debt securities of the Corporation, or any other incurrence of indebtedness by the Corporation, that results in Net Cash Proceeds of at least $5,000,000 (other than the sale of Series B Preferred Stock and warrants pursuant to the Series B Preferred Stock Purchase Agreement); or (ii) the sale, license, or other disposition of any of the assets or property of the Corporation that results in Net Cash Proceeds of at least $5,000,000. As used herein, the term “Net Cash Proceeds” shall mean the aggregate cash proceeds received by the Corporation as a result of the Liquidity Trigger Event, less the costs and expenses of the Corporation incurred in connection with such Liquidity Trigger Event.
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Liquidity Trigger Event means the occurrence of any of the events described in clause (h) or (i) of the definition of “Trigger Event”.
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