Cash Management Trigger Event Cure definition

Cash Management Trigger Event Cure means:
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Cash Management Trigger Event Cure shall have the meaning set forth in the Mortgage Loan Agreement.
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Cash Management Trigger Event Cure means (a) if the Cash Management Trigger Event is caused solely by the occurrence of a Franchise Trigger Event: (i) Franchisor has either waived or accepted Borrower’s cure of such default or event of default under the Franchise Agreement, or the Franchise Agreement has been reinstated or a new Franchise Agreement reasonably acceptable to Lender has been entered into, and (ii) Borrower has provided evidence thereof to Lender; and (b) if the Cash Management Trigger Event is caused solely by the occurrence of an Event of Default hereof, Lender has waived or accepted a cure of such Event of Default; and (c) if the Cash Management Trigger Event occurs solely by virtue of the DSCR Trigger Event, then the subject DSCR Trigger Event may be cured either by (A) the Property achieving and sustaining a Debt Service Coverage Ratio of not less than 1.10 for six (6) consecutive months, or (B) prepayment of a portion of the Loan on or prior to the day that is ten (10) Business Days after the earlier of (i) delivery by Borrower of the financial statement indicating the DSCR Trigger Event has occurred, and (ii) the date such financial statement was required to be delivered pursuant to Section 6.3, and such Loan prepayment will be included in the calculation of Debt Service Coverage Ratio solely for the purposes of determining compliance with the Debt Service Coverage Ratio test set forth above at the end of such fiscal quarter (a “DSCR Cure Payment”); provided, that (x) there shall be no more than three (3) DSCR Cure Payments made in the aggregate after the Closing Date, (y) no DSCR Cure Payment shall be made in consecutive fiscal quarters and (z) the amount of any DSCR Cure Payment will be no greater than the amount required to cause there to be no DSCR Trigger Event; and if, after giving effect to the foregoing recalculations and subject to the foregoing limitations, no DSCR Trigger Event shall have occurred, no Cash Management Trigger Event shall have been deemed to have occurred as of the relevant date of determination with the same effect as though there had been no DSCR Trigger Event. For the avoidance of doubt, no DSCR Cure Payments shall be subject to a Prepayment Fee (defined in the Note); provided, however, that, each Cash Management Trigger Event Cure shall be subject to the following additional conditions: (i) no other Event of Default shall have occurred and be continuing under this Agreement or any of the other Loan Documents, (ii) a Cash Management Trigger E...
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Examples of Cash Management Trigger Event Cure in a sentence

  • Upon the occurrence of a Cash Management Trigger Event Cure and within five (5) days of receipt of Borrower’s notice thereof, so long as no other Cash Management Trigger Event shall then exist, Lender shall send a Cash Management De-Activation Notice to Clearing Bank.

Related to Cash Management Trigger Event Cure

  • Threshold Event Cure shall have the meaning assigned to such term in Section 5(g).

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Specified Cash Management Agreement any agreement providing for treasury, depositary or cash management services, including in connection with any automated clearing house transfers of funds or any similar transactions between the Borrower or any Guarantor and any Lender or affiliate thereof or any Agent or affiliate thereof, which has been designated by such Lender and the Borrower, by notice to the Administrative Agent not later than 90 days after the execution and delivery by the Borrower or such Guarantor, as a “Specified Cash Management Agreement”.

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

  • Cash Management Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person under or in respect of a Cash Management Agreement.

  • Cash Management Reserves means such reserves as the Agent, from time to time, determines in its Permitted Discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding.

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

  • 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.

  • Guaranteed Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Hedging Event means, with respect to the Notes, the occurrence of an event that has a material adverse effect on Royal Bank’s ability to place, maintain or modify any hedge, including without limitation:

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Credit Party and any Cash Management Bank.

  • Cash Management System shall have the meaning assigned to such term in Section 9.01.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Cash Management Obligations means obligations owed by the Borrower or any Restricted Subsidiary to any Lender or any Affiliate of a Lender in respect of any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds.

  • Cash Management Agreement means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

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

  • 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 Management Bank means any Person that, at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement.

  • 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.

  • Cash Management Order means an order of the Bankruptcy Court, in form and substance acceptable to the Required Lenders, (i) approving and authorizing the Loan Parties to use existing cash management system, (ii) authorizing and directing banks and financial institutions to honor and process checks and transfers, (iii) authorizing continued use of intercompany transactions, (iv) waiving requirements of Section 345(b) of the Bankruptcy Code and (v) authorizing the Loan Parties to use existing bank accounts and existing business forms.

  • 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.

  • Cash Management Systems has the meaning ascribed to it in Section 1.8.

  • 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 Manager means Northern Rock or such other person or persons for the time being acting, pursuant to the Cash Management Agreement, as agent for the Mortgages Trustee, Funding and (following enforcement of the Funding Security) the Security Trustee for the purposes of, inter alia, managing all cash transactions and maintaining certain ledgers on behalf of the Mortgages Trustee, Funding and (following enforcement of the Funding Security) the Security Trustee;