Bankruptcy Trigger Event definition

Bankruptcy Trigger Event means Tenant’s rejection (actual rejection or deemed rejection, in both cases in accordance with Bankruptcy Code Section 365) of the Lease in any bankruptcy court filing, motion or other procedure or action under the Bankruptcy Code.
Sample 1Sample 2
Bankruptcy Trigger Event means any Bankruptcy Action with respect to Owner, Operating Tenant or Manager; provided, however, that a Bankruptcy Action with respect to Manager shall not constitute a Bankruptcy Trigger Event unless (a) Operating Tenant fails to replace Manager with a Qualified Manager under a Replacement Management Agreement within sixty (60) days after such Bankruptcy Action or (b) the Bankruptcy Action of Manager is not dismissed without any material adverse consequences to the Loan or the Property within sixty (60) days after such Bankruptcy Action.
Sample 1Sample 2
Bankruptcy Trigger Event means a Bankruptcy Action shall have occurred with respect to Borrower or Manager.
Sample 1

Examples of Bankruptcy Trigger Event in a sentence

  • Borrower shall deliver to Lender written notice of (i) any Tenant event of default (after expiration of any notice and cure periods) under a Major Lease promptly following Borrower obtaining actual knowledge of the same and (ii) the occurrence of any CPC Bankruptcy Trigger Event or CPC Goes Dark Trigger Event promptly following Borrower obtaining actual knowledge of the same.

  • At Borrower’s election, in its sole discretion, Borrower may deposit into an Eligible Account held by Lender or Servicer (the “Free Rent Reserve Account”) an amount equal to all or any portion of any free or gap rent in connection with satisfying a CPC Bankruptcy Trigger Event Cure or a CPC Goes Dark Trigger Event Cure.

  • In addition, if no CPC Bankruptcy Trigger Event or CPC Goes Dark Trigger Event has occurred to the best of Xxxxxxxx’s knowledge, then such Officer’s Certificate shall also state that, to the best of Borrower’s knowledge, no CPC Bankruptcy Trigger Event or CPC Goes Dark Trigger Event has occurred.

  • In addition, Borrower shall pay to Lender all Excess Cash Flow during any Cash Sweep Event due to (i) an Ally Credit Rating Trigger Event; (ii) an Ally Lease Trigger Event; or (iii) an Ally Bankruptcy Trigger Event, in accordance with Section 2.8.2(b)(vii) hereof, which amounts shall be deposited with and held by Lender for tenant improvement and leasing commission obligations incurred following the date hereof.

  • In the event there is an Ally Lease Trigger Event or an Ally Bankruptcy Trigger Event, the monies collected in the Rollover Reserve Account shall be held until the space under the Ally Lease has been relet and all tenant improvements and leasing commissions related to the replacement lease(s) have been paid in full.

  • In the event that a Cash Sweep Period exists due solely to an Ally Lease Trigger Event, an Ally Credit Rating Trigger Event or an Ally Bankruptcy Trigger Event, unless Borrower delivers a Letter of Credit for the difference between $2,450,040.00 and the balance in the Rollover Reserve Account, all Excess Cash Flow shall be deposited into the Rollover Reserve Account until the occurrence of an Ally Lease Event Cure, an Ally Credit Rating Event Cure or an Ally Bankruptcy Trigger Event Cure, as applicable.

  • At Borrower’s election, in its sole discretion, Borrower may deposit into the Rollover Reserve Account an amount equal to all or any portion of any outstanding TILC Obligations due from Borrower in connection with satisfying a CPC Bankruptcy Trigger Event Cure or a CPC Goes Dark Trigger Event.

  • Provided no Event of Default is then continuing, Lender shall disburse to Borrower the amounts on deposit in the Free Rent Reserve Account in connection with satisfying a CPC Bankruptcy Trigger Event Cure or a CPC Goes Dark Trigger Event Cure, on each Payment Date for each month of free or gap rent deposited based on the corresponding month to which such free or gap rent applies.


More Definitions of Bankruptcy Trigger Event

Bankruptcy Trigger Event means the occurrence of an actual or deemed entry of an order for relief with respect to the Company under the Bankruptcy Code of the United States.
Sample 1
Bankruptcy Trigger Event means the occurrence of any of the following:
Sample 1

Related to Bankruptcy Trigger Event

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • 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.

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

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

  • 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.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Flip-Over Event means any event described in clause (x), (y) or (z) of Section 13(a) hereof.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Flip-in Event means a transaction in or pursuant to which any Person becomes an Acquiring Person;