Cash Sweep Percentage definition

Cash Sweep Percentage means, as of any Payment Date:
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Cash Sweep Percentage has the meaning specified in Section 2.06(b)(i). “Casualty Event” has the meaning specified in the Security Deposit Agreement. “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time.
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Cash Sweep Percentage means, as of any Payment Date: (x) if a Cash Sweep Period is in effect pursuant to clause (I)(c) of the definition thereof and the DSCR as of the immediately preceding Determination Date is greater than the Cash Sweep DSCR and the Senior DSCR as of the immediately preceding Determination Date is greater than the Senior Cash Sweep DSCR, 50%; (y) if a Cash Sweep Period is in effect pursuant to clause (I)(a), (b) or (c) of the definition thereof and the DSCR as of the immediately preceding Determination Date is less than or equal to the Cash Sweep DSCR or the Senior DSCR as of the immediately preceding Determination Date is less than or equal to the Senior Cash Sweep DSCR, 75%; and (z) if a Cash Sweep Period is in effect pursuant to clause (I)(d) or (e) of the definition thereof, 100%. “Cash Sweep Period” shall mean a period commencing as of any Payment Date if both:
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Examples of Cash Sweep Percentage in a sentence

  • If a Cash Trap Period ceases to exist as a result of a Cash Sweep Period commencing, then the product of the Cash Sweep Percentage as of the first Payment Date during such Cash Sweep Period and the amount of funds on deposit in the Cash Trap Reserve Account will be paid to the Holders of the Notes on such first Payment Date in direct order of alphanumerical designation in respect of principal and pro rata among Holders of Notes within each Class of the same alphanumerical designation.

  • On the first Payment Date to occur after the occurrence and during the continuation of a Cash Sweep Condition, the Cash Sweep Percentage as of such Payment Date of any funds on deposit in the Cash Trap Reserve Account will be applied to repay the aggregate unpaid Note Principal Balance of the Notes.

  • Commencing on the first Payment Date to occur on or after the occurrence and during the continuance of a Cash Sweep Condition, the Cash Sweep Percentage as of such Payment Date of funds available pursuant to Section 5.01(a)(viii) shall be applied to repay the aggregate unpaid Note Principal Balance of the Notes as provided therein.

  • Quarterly free cash flow payments will be required by the LC Issuer which will consist of special principal installments, to be applied to the Bonds in inverse order of maturity, in an amount equal to the applicable Cash Sweep Percentage of the available Free Cash Flow (if any) of the Borrower during the previous quarter, provided that if such installment would result in a covenant default, the amount of the installment shall be reduced to an amount which would not result in a default.

  • Cash Sweep Percentage 20 % 40 % 60 % Maximum Cash Sweep $ 1,000,000 $ 2,000,000 $ 2,000,000 Maximum Capital Expenditures $ 3,000,000 $ 1,500,000 $ 800,000 None.

  • Cash Sweep Percentage shall be determined based on a matrix attached as Addendum I and shall be subject to change annually based on the Borrower’s Equity Ratio.

  • By: Name: Title: By: Name: Title: The Cash Sweep Percentage, Maximum Cash Sweep, and Maximum Capital Expenditures shall be adjusted annually, on May 1, based upon the Borrower’s Equity Ratio at fiscal year end December 31, as reflected in the Matrix below.

  • Commencing on the first Payment Date to occur on or after the occurrence and during the continuance of a Cash Sweep Condition, the Cash Sweep Percentage as of such Payment Date of funds available pursuant to Section 5.01(a)(vi) shall be applied to repay the aggregate unpaid principal amount of the Notes as provided therein.

  • On the first Payment Date to occur after the occurrence of a Cash Sweep Condition, the Cash Sweep Percentage as of such Payment Date of any funds on deposit in the Cash Trap Reserve Account will be applied to repay the aggregate unpaid principal amount of the Notes.


More Definitions of Cash Sweep Percentage

Cash Sweep Percentage means, with respect to any Payment Date on which (x) a Cash Sweep Condition is in effect pursuant to clause (x) of the definition thereof (i) 50% if the DSCR as of the immediately preceding Determination Date is greater than the Cash Sweep DSCR and the Senior DSCR as of the immediately preceding Determination Date is greater than the Senior Cash Sweep DSCR and (ii) 75% if the DSCR as of the immediately preceding Determination Date is less than or equal to the Cash Sweep DSCR or the Senior DSCR as of the immediately preceding Determination Date is less than or equal to the Senior Cash Sweep DSCR and (y) a Cash Sweep Condition is in effect pursuant to clause (y) of the definition thereof, 100%.
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Cash Sweep Percentage means, with respect to any Payment Date on which (1) a Cash Sweep Condition is in effect pursuant to clause (i) or clause (ii) of the definition thereof, 50%, (2) a Cash Sweep Condition is in effect pursuant to clause (iii) or clause (iv) of the definition thereof, 75% and (3) a Cash Sweep Condition is in effect pursuant to clause (v) or clause (vi) of the definition thereof, 100%; provided, that in the event a Cash Sweep Condition has occurred pursuant to more than one prong of the definition thereof, the highest applicable Cash Sweep Percentage shall apply.
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Related to Cash Sweep Percentage

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Cash Percentage shall have the meaning specified in Section 14.02(a)(iii).

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Class B Loss Percentage With respect to any Determination Date and any Class of Class B Certificates then outstanding, the percentage calculated by dividing the Principal Balance of such Class by the Class B Principal Balance (determined without regard to any Principal Balance of any Class of Class B Certificates not then outstanding), in each case determined as of the preceding Determination Date.

  • Asset Percentage has the meaning specified in Section 2.05(b)(ii).

  • Prepayment Percentage As of the Closing Date, approximately 0%, and thereafter, with respect to any Distribution Date, the excess of 100% over the Senior Prepayment Percentage.

  • Original Class A Percentage The Class A Percentage as of the Cut-Off Date, as set forth in Section 11.04.

  • Class A Loss Percentage As to any Determination Date and any Class of Class A Certificates (other than the Class A-PO Certificates) then outstanding, the percentage calculated by dividing the Principal Balance of such Class by the Class A Loss Denominator (determined without regard to any such Principal Balance of any Class of Class A Certificates not then outstanding), in each case determined as of the preceding Determination Date.

  • ECF Percentage has the meaning specified in Section 2.05(b)(i).

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Class A Percentage As to any Distribution Date occurring on or prior to the Cross-Over Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the Class A Non-PO Principal Balance (determined as of the Determination Date preceding such Distribution Date) by the Pool Balance (Non-PO Portion). As to any Distribution Date occurring subsequent to the Cross-Over Date, 100% or such lesser percentage which will cause the Class A Non-PO Principal Balance to decline to zero following the distribution made on such Distribution Date.

  • C/D Reserve Percentage for any day as applied to any ABR Loan, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board, for determining the maximum reserve requirement for a Depositary Institution (as defined in Regulation D of the Board) in respect of new non-personal time deposits in Dollars having a maturity of 30 days or more.

  • Senior Percentage As of any Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates) immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Shift Percentage As to any Distribution Date occurring during the five years beginning on the first Distribution Date, 0%. For any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date as follows: for any Distribution Date in the first year thereafter, 30%; for any Distribution Date in the second year thereafter, 40%; for any Distribution Date in the third year thereafter, 60%; for any Distribution Date in the fourth year thereafter, 80%; and for any Distribution Date thereafter, 100%.

  • Original Class B-6 Percentage The Class B-6 Percentage as of the Cut-Off Date, as set forth in Section 11.13.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Class B-6 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Percentage for such Distribution Date will be zero.

  • Original Class B-2 Percentage The Class B-2 Percentage as of the Cut-Off Date, as set forth in Section 11.09.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Excess Cash Amount means, as of any Excess Cash Measurement Date, (a) the total amount of Unrestricted Cash, less (b) the sum of (i) the applicable Minimum Cash Threshold hereto corresponding to such Excess Cash Measurement Date, (ii) the total amount of scheduled payments due by OEC and its Subsidiaries, taken as a whole, under (x) the New Notes and (y) any other Permitted Indebtedness in each case in the subsequent twelve (12) month period, (iii) projected expenses for the Issuer to conduct its operations during the subsequent twelve (12) month period, including any foreign currency conversion expenses and (iv) for any Excess Cash Measurement Date through (and including) December 31, 2024, any Fines due by OEC and its Subsidiaries for the subsequent twelve (12) month period; less (c) an amount equal to the Required Gross-Up; provided that any items already deducted from cash and short-term investments of OEC and its Subsidiaries for purposes of determining Unrestricted Cash shall not be deducted again for purposes of determining the Excess Cash Amount.

  • Prepayment Shift Percentage Not applicable.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Class B-6 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Prepayment Percentage for such Distribution Date will be zero.