Cash Flow Sweep Event definition

Cash Flow Sweep Event means_______________________.]
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Cash Flow Sweep Event shall have the meaning set forth in the Loan Agreement.
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Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than seven percent (7.0%) or (ii) Debt Service Coverage is less than 1.05:1, (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one half percent (7.50%) or (ii) Debt Service Coverage is less than 1.10:1, (c) during the third Loan Year (i) Cash on Cash Return is less than eight percent (8.0%) or (ii) Debt Service Coverage is less than 1.20:1, (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one quarter percent (8.25%) or (ii) Debt Service Coverage is less than 1.25:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and one half percent (8.50%) and (ii) Debt Service Coverage is less than 1.30:1.
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Examples of Cash Flow Sweep Event in a sentence

  • During a Cash Flow Sweep Event, no amounts whatsoever shall be paid to the Advisor or its Affiliates under the Advisory Agreement or otherwise.

  • Upon the occurrence of a Cash Flow Sweep Cure and provided that no other Cash Flow Sweep Event or any Event of Default exists, Administrative Agent will return control of the Collections Account to Borrower and any funds remaining in the Master Disbursement Sweep Account shall be transferred to the Collections Account.

  • Upon the occurrence of a Cash Flow Sweep Event, control over funds in the Collections Account shall shift to Administrative Agent and funds in the Collections Account shall be directed to the Master Disbursement Sweep Account and applied in accordance with the terms of the Cash Management Agreement.

  • If at any time during a Cash Flow Sweep Event, the amount of the available funds in the Accounts is insufficient to make all of the disbursements described in subsections (a)(i) through [(viii)], inclusive, Borrower shall promptly deposit into the Collections Account, without the need for any notice or demand from Lender, the amount of such deficiency in immediately available funds.

  • For the normalization process, results for individual metrics can be scaled to range between two chosen values, say 0 and 100, so that each is distributed with the same underlying characteristics.

  • During a Cash Flow Sweep Event, no amounts whatsoever shall be paid, distributed or otherwise made to the Advisor or its Affiliates under the Advisory Agreement, the Partnership Agreement or otherwise.

  • Prior to the occurrence of a Cash Flow Sweep Event, and provided no Event of Default exists, Lender shall direct Depository Bank to transfer funds in the Collections Account on a daily basis to the Operating Account.

  • Upon the occurrence of a Cash Flow Sweep Cure and provided that no other Cash Flow Sweep Event or any Event of Default exists, Lender will return control of the Collections Account to Borrower and any funds remaining in the Master Disbursement Sweep Account shall be transferred to the Collections Account.

  • During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds.

  • If a Cash Flow Sweep Event shall have occurred and is continuing, any Re-Tenanting Funds remaining after the Approved Replacement Lease Start Date for all Approved Replacement Leases covering the entire premises, 36942122.8 shall be held in the Master Disbursement Sweep Account and disbursed in accordance with the Cash Management Agreement.


More Definitions of Cash Flow Sweep Event

Cash Flow Sweep Event means the occurrence and continuance of (i) an Event of Default, (ii) a DSCR Trigger, or (iii) an Amazon Lease Renewal Trigger.
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Cash Flow Sweep Event has the meaning set forth in Section 2.6(C). ---------------------
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Cash Flow Sweep Event shall occur (i) as of any Sweep --------------------- Event Determination Date when (a) the Cash Flow Sweep DSCR as of the immediately prior Calculation Date is less than 1.50:1 (the "Minimum Cash Flow Sweep DSCR") ---------------------------- or (b) the Cash Flow Sweep LCR as of the immediately prior Calculation Date is less than 1.0:1 (the "Minimum Cash Flow Sweep LCR"), and shall continue to exist --------------------------- until the Minimum Cash Flow Sweep DSCR test and Minimum Cash Flow Sweep LCR test referred to in the foregoing clauses (a) and (b), respectively, have each been satisfied as of any subsequent Sweep Event Determination Date or (ii) upon the existence or occurrence of a Proceeds Release Condition on or after the date which is six (6) months prior to the Maturity Date, and shall continue to exist until Excess Cash Flow in the amount of the Released Proceeds has been deposited into the Cash Flow Sweep Sub-Account (or Borrower has made a principal prepayment on the Loan in the amount of such Released Proceeds). Notwithstanding that the Cash Flow Sweep DSCR shall be less than the Minimum Cash Flow Sweep DSCR as of any Sweep Event Determination Date, provided that the Minimum Cash Flow Sweep LCR test is satisfied, Borrower may cure such Cash Flow Sweep Event under clause (i) above by making a principal prepayment on the Loan (which prepayment amount shall be held in the Debt Service Sub-Account and applied to payment of principal on the next Payment Date (without imposition of any Prepayment Consideration)), within two (2) Business Days after the date of delivery of Lender's notice, as described below, that a Cash Flow Sweep Event has occurred, in an amount which as determined by Lender, in its sole good faith discretion, would be sufficient to cause the Cash Flow Sweep DSCR to exceed the Minimum Cash Flow Sweep DSCR if interest payable on the Loan included in determining such Cash Flow Sweep DSCR were recalculated assuming that such amount were applied to reduce the principal amount of the Loan as of the first day of the relevant Measurement Period. During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds. The existence of a Cash Flow Sweep Event shall be determined by Lender in its sole good faith determination. If Lender determines tha...
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Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than six and six-tenths percent (6.60%) or (ii) Debt Service Coverage is less than 1.03:1; (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one-tenths percent (7.10%) or (ii) Debt Service Coverage is less than 1.05:1; (c) during the third Loan Year (i) Cash on Cash Return is less than seven and three-quarters percent (7.75%) or (ii) Debt Service Coverage is less than 1.10:1; (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one-half of one-tenth percent (8.05%) or (ii) Debt Service Coverage is less than 1.15:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and thirty-five one hundredths percent (8.35%) or (ii) Debt Service Coverage is less than 1.
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Related to Cash Flow Sweep Event

  • Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

  • Excess Cash Flow Period means each fiscal year of the Borrower, commencing with the fiscal year of the Borrower ending on December 31, 2016.

  • Excess Cash Flow means, for any period, an amount equal to the excess of:

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Cash Dominion Event means any of the following: (i) the occurrence and continuance of an Event of Default under clause (a), (f) or (g) of Section 8.01; (ii) the occurrence and continuance of an Event of Default under clause (b)(i)(B) or (e) of Section 8.01; (iii) the occurrence and continuance of an Event of Default under subclause (ii) of clause (c) of Section 8.01; (iv) the occurrence and continuance of an Event of Default under subclause (i) of clause (c) of Section 8.01 (to the extent such Event of Default results from a failure to comply with Section 6.01(i) or 6.01(ii)); or (v) the failure of the Loan Parties to maintain, for four consecutive Business Days, Excess Availability of at least $7,500,000. For purposes of this Agreement, the occurrence of any particular Cash Dominion Event shall be deemed continuing (a) if such Cash Dominion Event arises under clause (i) above, from the date of the occurrence of such Event of Default and for so long as such Event of Default is continuing and has not been cured or waived, (b) if such Cash Dominion Event arises under clause (ii), (iii) or (iv) above, from the date of the delivery by the Administrative Agent of a notice to the Lead Borrower of its intent to initiate a Cash Dominion Event based on such Event of Default and for so long as such Event of Default is continuing and has not been cured or waived and/or (c) if such Cash Dominion Event arises under clause (v) above, until Excess Availability is equal to or greater than $7,500,000 for 30 consecutive calendar days, in which case such Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement.

  • Cash Dominion Trigger Period means the period commencing on the occurrence of a Cash Dominion Trigger Event, and continuing until the date that (a) no Event of Default shall be continuing and (b) Excess Availability is greater than or equal to the greater of (i) 15.0% of the Line Cap and (ii) $6,250,000, in each case, for a period of at least three (3) consecutive Business Days.

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.

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

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • DSCR means debt service coverage ratio.

  • Annualized Operating Cash Flow means, for any period of three complete consecutive calendar months, an amount equal to Operating Cash Flow for such period multiplied by four.

  • Excess Cash all cash and Cash Equivalents of the Borrower and its Subsidiaries at such time determined on a consolidated basis in accordance with GAAP in excess of $25,000,000.

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Cash Flow mean net income after taxes, and exclusive of extraordinary gains and income, plus depreciation and amortization.

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

  • Net Loss Proceeds means, with respect to any Event of Loss, the proceeds in the form of (a) cash or Cash Equivalents and (b) insurance proceeds, condemnation awards or damages awarded by any judgment, in each case received by the Company from such Event of Loss net of:

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Trigger Period means the period commencing on the first public announcement by the Issuer of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control; provided, that if the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies, such 60-day period shall be extended until the first to occur of (x) the date that such Rating Agency announces the results of its review and (y) the date that is 180 days after consummation of the Change of Control.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Retained Excess Cash Flow means, at any date of determination, an amount, equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for the Excess Cash Flow Periods ended on or prior to such date.

  • Net Cash Flow means, with respect to the Property for any period, the amount obtained by subtracting Operating Expenses and Capital Expenditures for such period from Gross Income from Operations for such period.

  • Adjusted Operating Cash Flow means the net cash provided by operating activities of the Company as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K, adjusted to eliminate the effect on operating cash flows of net customer financing cash flows, as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K.

  • Cumulative Excess Cash Flow means the sum of Excess Cash Flow (but not less than zero in any period) for the fiscal year ending on December 31, 2013 and Excess Cash Flow for each succeeding completed fiscal year.