Cash Sweep Period definition

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.

Cash Sweep Period shall have the meaning assigned to such term in the Senior Subsidiary Security Agreement.

Cash Sweep Period shall commence upon the occurrence of (i) an Event of Default or (ii) the commencement of a Low Debt Yield Period; and shall end if, (A) with respect to a Cash Sweep Period continuing pursuant to clause (i), the Event of Default commencing the Cash Sweep Period has been cured and such cure has been accepted by Lender (and no other Event of Default is then continuing) or (B) with respect to a Cash Sweep Period continuing due to clause (ii), the Low Debt Yield Period has ended pursuant to the terms hereof.

Examples of Cash Sweep Period in a sentence

• Upon the occurrence of a Cash Sweep Cure Date and provided that a Cash Sweep Period shall not then otherwise exist, amounts in the Tax and Insurance Reserve Account shall be released to Borrower on the next Payment Date.

• Upon a Cash Sweep Cure Date and provided that a Cash Sweep Period shall not then otherwise exist, amounts in the Replacement Reserve Account shall be released to Borrower on the next Payment Date.

• For the avoidance of doubt, in no event shall any management fees in excess of the Base Fee (or actual, if lower) be payable to an Affiliated Manager during a Cash Sweep Period.

• If a Cash Trap Period ceases to exist and none of a Cash Sweep Period, Rapid Amortization Period nor a Post-ARD Period is then in effect and no acceleration of the maturity of the Notes has occurred following the occurrence and during the continuation of an Event of Default, any funds then on deposit in the Cash Trap Reserve Account will be deposited into the Collection Account for distribution on the immediately following Payment Date pursuant to the Priority of Payments.

More Definitions of Cash Sweep Period

Cash Sweep Period shall have the meaning set forth in the Mortgage Loan Agreement.

Cash Sweep Period means the period from and after a Cash Sweep Event until a Cash Sweep Cure has occurred.

Cash Sweep Period means the period commencing on the date upon which the Debt Service Coverage Ratio for the Property, as reasonably determined by Lender on a quarterly basis, for the immediately preceding twelve (12) month period is less than 1.15 to 1.00, and ending on the date the Debt Service Coverage Ratio equals or exceeds 1.20 to 1.00 for the immediately preceding twelve (12) month period.

Cash Sweep Period means the period commencing on the first day of the calendar month following the date on which Lender notifies Borrower of its determination that the Debt Yield is less than seven and three-quarters percent (7.75%) for the immediately preceding twelve (12) month period and ending on the earlier of (i) last day of the calendar month during which Lender notifies Borrower of its determination that the Debt Yield is greater than or equal to seven and three-quarters percent (7.75%) for the immediately preceding twelve (12) month period for two (2) consecutive calendar quarters or (ii) receipt by Lender of a Cash Sweep Cure Payment.

Cash Sweep Period means the period of time from and after any Cash Sweep Trigger Date and continuing though the date five (5) Business Days following the occurrence of any Cash Sweep Termination Date.

Cash Sweep Period means any period in which funds are transferred from (a) any Blocked Account to the Concentration Account or any Citibank Concentration Account, as applicable, pursuant to a Blocked Account Cash Sweep Notice or (b) the Concentration Account to any Citibank Concentration Account pursuant to a Concentration Account Cash Sweep Notice.

Cash Sweep Period shall have the meaning set forth in the Cash Management Agreement.