Cash Management Trigger Event Cure definition

Cash Management Trigger Event Cure means:
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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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Cash Management Trigger Event Cure shall have the meaning set forth in the Mortgage Loan Agreement.
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Examples of Cash Management Trigger Event Cure in a sentence

  • For purposes of clarification, a Cash Management Trigger Event shall be deemed to “exist”, “be continuing” and “remain outstanding” as long as a Cash Management Trigger Event Cure has not occurred.

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.

  • 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 Administrative 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).

  • 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 Loan 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 Company or any Subsidiary to any Lender or a Cash Management Bank in respect of (1) any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds and (2) the Company’s or any Subsidiary’s participation in commercial (or purchasing) card programs at the Lender or any Affiliate (“card obligations”).

  • 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 If, with respect to any Distribution Date, 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 Due 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 March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • 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 the order of the Bankruptcy Court entered in the Chapter 11 Case, together with all extensions, modifications and amendments that are in form and substance acceptable to the Agent in its Permitted Discretion, which, among other matters, authorizes the Loan Parties to use their cash management system, substantially in the form of Exhibit H.

  • 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 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.

  • 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;

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Hedging Disruption means that the Issuer is unable, after using commercially reasonable efforts, to (A) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the risk of issuing and performing its obligations with respect to the Securities, or (B) realise, recover or remit the proceeds of any such transaction(s) or asset(s).