Common use of DSCR Failure Clause in Contracts

DSCR Failure. In the event that the Cash Manager determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Issuer, the Guarantor, the Administrative Agent, the Trustees, the Pass Through Trustee, the Policy Provider and the Rating Agencies. Following the occurrence of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.

DSCR Failure. In the event that the Cash Manager Administrative Agent determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the IssuerBorrower, the Guarantor, the Administrative Agent, the Trustees, the Pass Through Trustee, the Policy Provider and the Rating AgenciesFacility Agent. Following During the occurrence and continuance of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.

DSCR Failure. In the event that the Cash Manager determines, in accordance with Section 3.06(c3.07(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Issuer, the Guarantor, the Administrative Agent, the Trustees, the Pass Through Trustee, the Policy Provider and the Rating Agencies. Following In the occurrence of event that a DSCR FailureFailure has occurred and is continuing, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b3.09(b) hereof.