Reporting Trigger Period definition
Reporting Trigger Period means the period (a) commencing on any day that Availability is less than an amount equal to 16% of the aggregate Revolving Commitments, and (b) continuing until Availability has been greater than or equal to an amount equal to 16% of the aggregate Revolving Commitments at all times for 30 consecutive calendar days.
Reporting Trigger Period means the period (a) commencing on any day that (i) an Event of Default occurs or (ii) Availability at any time is less than the greater of (A) $15,750,000 and (B) 17.5% of the Line Cap for five (5) consecutive days, and (b) continuing until the date that, at all times during each of the preceding 30 consecutive days, both (i) no Event of Default has occurred or been continuing and (ii) Availability has been greater than the greater of (A) $15,750,000 and (B) 17.5% of the Line Cap.
Reporting Trigger Period means any period beginning on any Reporting Trigger Event and continuing until the date on which (x) Availability is not less than the greater of (i) 12.5% of the Line Cap as of such date and (ii) $20.0 million and (y) no Event of Default shall have existed at any time during the thirty (30) consecutive calendar days prior to such date.
Examples of Reporting Trigger Period in a sentence
If a Reporting Trigger Period exists, Borrower Agent shall execute and deliver to Administrative Agent Borrowing Base Certificates and all such supporting materials weekly within three (3) Business Days of each week then ended and current as of the close of the prior week; for the avoidance of doubt, such Borrowing Base Certificates and supporting materials shall include, without limitation, an updated calculation of the Borrowing Base.
More Definitions of Reporting Trigger Period
Reporting Trigger Period means the period commencing upon (i) the occurrence and continuance of an Event of Default or (ii) the date on which Borrowers’ Facility Availability is less than twenty five percent (25%) of the Maximum Revolving Advance Amount at any time and ending on the first date thereafter upon which (x) with respect to clause (i), such Event of Default has been waived in writing or cured in accordance with the terms of this Agreement, and (y) with respect to clause (ii), when Borrowers have Facility Availability, for thirty (30) consecutive days, equal to or exceeding twenty five percent (25%) of the Maximum Revolving Advance Amount.
Reporting Trigger Period means any period (a) commencing on the day that (i) an Event of Default occurs and is continuing, or (ii) Availability is less than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000, and (b) continuing until the date that (i) in the case of clause (a)(i), no Event of Default exists, and (ii) in the case of clause (a)(ii), during the previous thirty (30) consecutive days, Availability has been equal to or greater than the greater of (x) 10% of the Aggregate Revolving Credit Commitments at such time and (y) $7,500,000.
Reporting Trigger Period means the period (a) commencing on any day that Excess Availability is less than 12% of the aggregate amount of the Lenders’ Revolving Commitments for any five (5) Business Days (on a cumulative basis rather than a consecutive basis), and (b) continuing until Excess Availability has been greater than or equal to 12% of the aggregate amount of the Lenders’ Revolving Commitments at all times for 45 consecutive calendar days.”
Reporting Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs and is continuing or (ii) Availability is less than the greater of (x) 12.5% of the Maximum Borrowing Amount (calculated without giving effect to the Term Loan Push Down Reserve and the Line Reserve) at such time and (y) $14,375,000, and (b) continuing until the date that during the previous thirty (30) consecutive days, (i) no Event of Default has existed and (ii) Availability has been greater than the greater of (x) 12.5% of the Maximum Borrowing Amount (calculated without giving effect to the Term Loan Push Down Reserve and the Line Reserve) at such time and (y) $14,375,000 at all times during such period.
Reporting Trigger Period means the period commencing on the date on which a Reporting Trigger Event occurs and ending on the date following the date on which Availability is greater than 15% of the Total Commitment for at least thirty (30) consecutive days.
Reporting Trigger Period in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
Reporting Trigger Period the period (a) commencing on the day that an Event of Default occurs, or Net Excess Availability is less than, at any time, an amount equal to 10% of the Maximum Facility Amount; and (b) continuing until, during the preceding 30 consecutive days, no Event of Default has existed and Net Excess Availability has been greater than, at all times, an amount equal to 10% of the Maximum Facility Amount.