Cash Flow Sweep Trigger Event definition

Cash Flow Sweep Trigger Event has the meaning set forth in the Existing Property Loan Agreement.
Sample 1Sample 2
Cash Flow Sweep Trigger Event means the DSCR for any Calendar Quarter, falls below 1.25:1.0, provided that no Cash Flow Sweep Trigger Event shall occur prior to December 31, 2012.
Sample 1
Cash Flow Sweep Trigger Event means the occurrence of any one of the following events: (i) Amdocs gives notice to Borrower that it will not exercise any option to extend contained in any Amdocs Leases pursuant to the terms of the applicable Amdocs Lease or (ii) Amdocs fails to (A) deliver evidence reasonably satisfactory to Lender that it has exercised each of the options to extend contained in each of the Amdocs Leases in accordance with each of their terms on or before that date that is twenty-four (24) months prior to the current expiration date of the applicable Amdocs Lease or (B) deliver to Lender extensions of each of the Amdocs Leases covering all of the Amdocs Space containing the following terms (reasonably satisfactory to Lender in all respects), (1) a term no less than five (5) years beyond the Maturity Date of the Loan, (2) then current market rates for the office submarket where the Property is located (after any rate abatement is calculated into the rate, if applicable) but in no event less than the rental rates currently provided for in each of the Amdocs Leases, and (3) such other terms and conditions shall be reasonably satisfactory to Lender.
Sample 1

Examples of Cash Flow Sweep Trigger Event in a sentence

  • Prior to the occurrence of a Cash Flow Sweep Trigger Event and/or an Event of Default, Borrower shall cause all gross revenues generated or derived from the operation of the Project to be deposited into the Operating Account.

  • After the occurrence of a Cash Flow Sweep Trigger Event and/or an Event of Default the Borrower may submit requisitions to Agent, together with detailed budgets and schedules of costs and expenses, for the payment of Operating Expenses in accordance with the terms of the Cash Management Agreement.

  • Upon the occurrence of an Excess Cash Flow Sweep Trigger Event Cure (there shall be no more than three (3) Excess Cash Flow Sweep Trigger Event Cures) and provided no other Excess Cash Flow Sweep Trigger exists, all funds in the Excess Cash Flow Account, with the exception of the Go Dark Trigger Cap Amount, shall be remitted to Borrower within five (5) Business Days thereafter.

  • The Go Dark Trigger Cap Amount shall continue to be held in the Excess Cash Flow Account until such time as there is no other Excess Cash Flow Sweep Trigger Event in existence and the Dark Property Cure has occurred, only then shall the Go Dark Trigger Cap Amount be remitted to Borrower within five (5) Business Days thereafter.

  • As soon as possible and in any event within three Business Days of the occurrence of a Cash Flow Sweep Trigger Event, a notice with respect to such Cash Flow Sweep Trigger Event and the details with respect to the occurrence of such Cash Flow Sweep Trigger Event.

  • On or before the date Substantial Completion is achieved, Borrower shall open and maintain with Agent an account (the “Restricted Cash Management Account”), subject to terms of the Cash Management Agreement, into which Borrower shall cause (i) all gross revenues generated or derived from the operation of the Project and (ii) all funds in the Operating Account and (iii) all funds in the Loan Checking Account to be deposited after the occurrence of a Cash Flow Sweep Trigger Event and/or an Event of Default.

  • As soon as possible and in any event within three (3) Business Days of the occurrence of a Cash Flow Sweep Trigger Event, a notice with respect to such Cash Flow Sweep Trigger Event and the details with respect to the occurrence of such Cash Flow Sweep Trigger Event.


More Definitions of Cash Flow Sweep Trigger Event

Cash Flow Sweep Trigger Event set forth in the Loan Agreement is hereby amended by inserting at the end of clause (ii) of such definition the following provision: “or (c) no such Cash Flow Sweep Trigger Event shall be deemed to have occurred if (x) Borrower shall have delivered to Lender the Lump Sum Redevelopment Deposit as and when required pursuant to Section 3.11(a)(ii) and (y) Borrower makes all of the Monthly Redevelopment Reserve Deposits as and when required pursuant to Section 3.11(a)(ii);”.
Sample 1
Cash Flow Sweep Trigger Event means the occurrence of either of the following events at any time after the Cash Flow Reserve Initial Termination Date: (i) an Event of Default, or (ii) the Debt Service Coverage Ratio of the Premises, as determined by Bank, is less than 1.35 to 1.00.
Sample 1

Related to Cash Flow Sweep Trigger Event

  • 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.

  • 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.

  • 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%

  • 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.

  • 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.

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

  • 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.

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

  • 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.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

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

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

  • 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%.

  • 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.

  • 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.

  • DSCR means debt service coverage ratio.

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

  • 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.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • 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).

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

  • 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.