“Cash Dominion Event” means either # the occurrence and continuance of any Event of Default, or # the failure of the Borrowers to maintain Availability at least equal to twenty percent (20%) of the Loan Cap at any time. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing at the Agent’s option # so long as such Event of Default has not been waived, and/or # if the Cash Dominion Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded 20% of the Loan Cap for ninety (90) consecutive Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for ninety (90) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on two (2) occasions after the Eighth Amendment Effective Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.
“Cash Dominion Event” means either # the occurrence and continuance of any Event of Default,Default or # Excess Availability at any time is less than the failuregreater of # 12.5% of the Borrowers to maintain Availability at least equal to twenty percent (20%) of the LoanLine Cap at any time.the time of calculation, or # ,500,000. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing at the Agent’s option # so long as such Event of Default has not been waived, and/or # if the Cash Dominion Event arises as a result of the Borrowers’ failurepursuant to achieve Availability as required hereunder,[clause (ii) above], until Excess Availability has exceeded 20%the amounts required pursuant to [clause (ii)] of the Loan Capthis definition for ninety (90)thirty (30) consecutive Business Days,days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Excess Availability exceeds the required amount for ninety (90)thirty (30) consecutive Business Days)days) at all times after a Cash Dominion Event has occurred and been discontinued on two (2) occasionsfive (5) occasion(s) after the Eighth Amendment No. 4 Effective Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.
“Cash Dominion Event” means either # the occurrence and continuance of any Event of Default, or # the failure of the Borrowers to maintain Availability at least equal to twenty percent (20%) of the Loan Capshall mean at any time. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing at the Agent’s optiontime # so long as suchan Event of Default has not been waived, and/shall exist or have occurred and be continuing or # ifExcess Availability is less than ten (10%) percent of the Maximum Credit for any two (2) consecutive Business Days or is less than seven and one-half (7.5%) percent of the Maximum Credit on any day; provided, that, # to the extent that the Cash Dominion Event arises as a resulthas occurred due to [clause (b)] of this definition, if Excess Availability shall be equal to or greater than ten (10%) percent of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded 20% of the Loan CapMaximum Credit for not less than ninety (90) consecutive Business Days, in which case adays, the Cash Dominion Event shall no longer be deemed to exist or be continuing for purposes of this Agreement; provided thatuntil such time as Excess Availability may again be less than such amount and # a Cash Dominion Event shallmay not be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for ninety (90) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued oncured as contemplated by [clause (i)] more than two (2) occasions aftertimes in any fiscal year or more than four (4) times during the Eighth Amendment Effective Date. The terminationterm of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.Credit Facility.
“Cash Dominion Event” means eitherat any time # the occurrence and continuance of anyan Event of Default,Default exists or has occurred and is continuing, # the failure of the Borrowers to maintainExcess Availability at least equal to twentyis less than twelve and one-half percent (20%(12.5%) of the Loan CapMaximum Revolver Amount for any five (5) consecutive day period, or # Excess Availability is less than ten percent (10%) of the Maximum Revolver Amount at any time. For purposes of this Agreement, theThe occurrence of a Cash Dominion Event shall be deemed to exist and to be continuing atnotwithstanding that Excess Availability may thereafter exceed the Agent’s option # so long as such Event of Default has not been waived, and/or # ifamount set forth in the Cash Dominion Event arises as a resultpreceding sentence unless and until Excess Availability exceeds twelve and one-half percent (12.5%) of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded 20% of the Loan CapMaximum Revolver Amount for ninety (90)thirty (30) consecutive Business Days,days, in which caseevent a Cash Dominion Event shall no longer be deemed to exist or be continuing until such time as Excess Availability may again be less than such amount for purposesany five (5) consecutive day period or less than ten (10%) of this Agreement; provided thatthe Maximum Revolver Amount at any time; provided, that, a Cash Dominion Event shallmay not be deemed continuing (even if an Eventcured as contemplated by this sentence more than four (4) times during the term of Default is no longer continuing and/or Availability exceeds the required amount for ninety (90) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on two (2) occasions after the Eighth Amendment Effective Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.Agreement.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.