Cash Management Event definition

Cash Management Event means any one or more of the following: (i) a Late Payment; (ii) a Default (other than a Late Payment) or an Event of Default; (iii) Borrower's

Cash Management Event shall have the meaning set forth in Section 2.6.6.

Cash Management Event. The earlier to occur of the following: (a) an Event of Default and (b) Excess Availability is equal to or less than the result (expressed in Dollars) of Twenty (20%) Percent multiplied by the lesser of (i) the Borrowing Base and (ii) the Revolving Credit Loan Ceiling.

Examples of Cash Management Event in a sentence

• Prior to the occurrence of a Cash Management Event, Borrower shall pay to Lender or Lender's designee or to an account identified by Lender or Lender's designee on or prior to each Payment Date, the Required Debt Service Payment for such Payment Date, the Basic Carrying Costs Monthly Installment for the Interest Accrual Period immediately preceding such Payment Date and the Capital Reserve Monthly Installment for the Interest Accrual Period immediately preceding such Payment Date.

• If a Cash Management Event has occurred and is continuing, the Collection Account Bank, shall transfer to Lender all amounts due under the Loan Documents (and all other amounts in the Collection Account pursuant to the Collection Account Agreement and Section 2.12 hereof).

• The Lessee shall pay promptly as Supplemental ----------------- Rent shall become due and payable (a) after the occurrence and during the continuance of a Cash Management Event, to the Collection Account and (b) so long as that a Cash Management Event is not continuing, any and all Supplemental Rent payable pursuant to the Nomura Loan Agreement, to the Lender, Lender's designee or to such parties as set forth in the Nomura Loan Agreement, and all other Supplemental Rent to the Lessor.

• From and after the occurrence of a Cash Management Event, the Capital Budget shall be subject to Lender's approval, which approval shall not be unreasonably withheld or delayed.

• Agent agrees not to exercise its exclusive control over any such Deposit Accounts except after and during the continuance of a Cash Management Event.

More Definitions of Cash Management Event

Cash Management Event means that a Default, an Event of Default or a DSCR Cash Management Event has occurred.

Cash Management Event means any of the following events:

Cash Management Event means the first to occur of: (i) the Optional Prepayment Date; or (ii) an Event of Default under this Agreement. As used herein, the term "Cash Management Restoration Event" shall mean that date which will occur one (1) year after the cure, to Lender's reasonable satisfaction, of an Event of Default under this Agreement which resulted in the Cash Management Event. If a Cash Management Event consists of the occurrence of the Optional Prepayment Date, that Cash Management Event shall not be susceptible of cure and shall be said to be continuing from the occurrence of the Optional Prepayment Date to the repayment in full of the Loan, and there shall be no Cash Management Restoration Event with respect to that occurrence of the Optional Prepayment Date.

Cash Management Event either (A) an Event of Default occurs or (B) the Debt Service Coverage Ratio at any time is less than 1.25, subject to a One Time Cash Management Event Cure by the Borrower.

Cash Management Event means the occurrence or existence of any of the following events or conditions: (a) on any date Excess Availability shall be less than $20,000,000 (whether or not Excess Availability shall thereafter equal or exceed such amount) or (b) an Event of Default shall exist and Agent or the Required Lenders shall have, in its or their sole discretion, elected to enforce, collect and receive all amounts owing with respect to the Accounts or other Collateral.

Cash Management Event means either of the following: (a) the occurrence and continuation of an Event of Default or (b) Excess Availability falls below $10,000,000 at any time; provided that once no Event of Default exists for thirty (30) consecutive days and Excess Availability is greater than or equal to $10,000,000 for thirty (30) consecutive days, such Cash Management Event shall terminate; provided, further, that no more than two (2) Cash Management Events may be terminated by curing the applicable Event of Default or maintaining sufficient Excess Availability in any twelve-month period.

Cash Management Event set forth in Section 1.1 of the Loan Agreement is hereby deleted in its entirety from the Loan Agreement and replaced with the following definition: