Cash Flow Sweep Termination Event definition

Cash Flow Sweep Termination Event shall have the meaning given such term in Section 8.18.
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Cash Flow Sweep Termination Event. – means (a) in the event of a DSCR Failure, the DSCR Reporting Date as of which the Property shall have achieved a DSCR greater than or equal to the Minimum DSCR Hurdle for the two (2) immediately preceding DSCR Test Dates (calculated after deducting the amounts on deposit in the DSCR Reserve Account from the outstanding principal amount of the Loan) and Borrower shall have timely delivered to Administrative Agent the DSCR Compliance Certificates so certifying, or (b) in the event the Cash Sweep Requirement was caused solely by Borrower’s failure to deliver a DSCR Compliance Certificate to Administrative Agent as and when required pursuant to Section 9.33(a), receipt by Administrative Agent of the DSCR Compliance Certificate evidencing that a DSCR Failure had not occurred as of the date such delivery was required.
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Cash Flow Sweep Termination Event means, (i) in the event of a Maintenance DSCR Failure, as of any date, the Property has achieved a DSCR of 1.10:1.00 for two (2) immediately preceding consecutive calendar quarters, calculated without deduction of the amounts on deposit in the DSCR Reserve Account from the Loan amount and (ii) in the event the Cash Flow Sweep was caused solely by Borrower’s failure to deliver a DSCR Certificate as and when required pursuant to Section 9.2, receipt of the DSCR Certificate evidencing that a Maintenance DSCR Failure had not occurred as of the date such delivery was required.
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Examples of Cash Flow Sweep Termination Event in a sentence

  • Each period beginning on an Excess Cash Flow Sweep Commencement Date and ending upon the occurrence of an Excess Cash Flow Sweep Termination Event is referred to herein as an “Excess Cash Flow Sweep Period.” If and to the extent that the Measurement Period to be used in calculating Debt Yield includes any quarter or portion thereof that precedes the Closing Date, the Borrowers shall use the information set forth on Exhibit B for that quarter or portion thereof.


More Definitions of Cash Flow Sweep Termination Event

Cash Flow Sweep Termination Event means, (A) in the event of a Maintenance DSCR Failure, as of any date, the Property has achieved a DSCR of 1.45:1.00 for Loan No. 1005062
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Cash Flow Sweep Termination Event. As defined in Section 20.
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Cash Flow Sweep Termination Event means, provided no Event of Default has occurred and is continuing, 3 consecutive calendar months on which the Debt Yield for the calendar quarter ending on such Testing Determination Date shall be equal to or greater than 10.5%.
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Cash Flow Sweep Termination Event means (a) in the event of a DSCR Failure, the DSCR Reporting Date as of which the Property shall have achieved a DSCR greater than or equal to the Minimum DSCR Hurdle for the two (2) immediately preceding DSCR Test Dates (calculated after deducting the amounts on deposit in the DSCR Reserve Account from the outstanding principal amount of the Loan) and Borrower shall have timely delivered to Administrative Agent the DSCR Compliance Certificates so certifying, or (b) in the event the Cash Sweep Requirement was caused solely by Borrower’s failure to deliver a DSCR Compliance Certificate to Administrative Agent as and when required pursuant to Section 9.33(a), receipt by Administrative Agent of the DSCR Compliance Certificate evidencing that a DSCR Failure had not occurred as of the date such delivery was required.
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Cash Flow Sweep Termination Event means the earlier to occur of (X) there shall occur two (2) consecutive Testing Determination Dates on which the Debt Service Coverage Ratio for the calendar quarter ending on such Testing Determination Date shall be equal to or greater than 1.00 to 1.00 or (Y) Borrower makes a DSCR Prepayment.
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Related to Cash Flow Sweep Termination Event

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Availability Termination Date the earlier of (i) the date that is the seventh anniversary of the Closing Date and (ii) the date on which the Administrative Agent delivers to the Servicer a notice of termination as a result of a Termination Event in accordance herewith (or the date on which such termination becomes effective automatically pursuant to Section 7).

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Company Termination Event means any of the following:

  • 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.

  • Cash Dominion Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability of the greater of at least (a) $6,500,000.00 at any time, or (b) 12.5% of the Borrowing Base. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $6,500,000.00, or (y) 12.5% of the Borrowing Base for thirty (30) 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 thirty (30) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on three (3) occasion(s) after the Closing 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.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Potential Termination Event means an event which, with the giving of notice and/or the lapse of time, would constitute a Termination Event.

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Early Termination Event has the meaning specified in Section 9.2.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Lender shall have been made).

  • Reduction Event means any of the following:

  • Series Termination Date means, with respect to any Series of Certificates, the date stated in the related Supplement.

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;