Cash Sweep Termination Date definition

Cash Sweep Termination Date means any date on which (a) if the Cash Sweep Period occurred as a result of an event described in clause (a) of the definition of Cash Sweep Trigger Date, such Event of Default has been waived in accordance with the terms of this Agreement and no other Event of Default shall have occurred and be continuing, or (b) if the Cash Sweep Period occurred as a result of an event described in clause (b) of the definition of Cash Sweep Trigger Date, Excess Availability has been greater than twelve and a half percent (12.5%) of the Revolving Credit Commitment, for each day of any forty-five (45) consecutive day period after the relevant Cash Sweep Trigger Date; provided, however, except as the Administrative Agent and the Required Lenders may otherwise hereafter agree in writing, a Cash Sweep Period may no longer be terminated following the second termination of any Cash Sweep Period in any twelve (12) consecutive month period or the sixth termination of any Cash Sweep Period during the term of this Agreement, and such Cash Sweep Period shall continue until the payment in full of the Obligations (other than contingent Obligations as to which the Administrative Agent shall have received cash collateral pursuant to the terms of Section 2.6 or 13.2, as applicable, or otherwise acceptable to the Administrative Agent) and the termination of the Commitments.
Sample 1Sample 2
Cash Sweep Termination Date means the first Determination Date following the commencement of any Cash Sweep Determination date on which the Debt Service Coverage Ratio is at least 1.30 to 1.00.
Sample 1Sample 2
Cash Sweep Termination Date means the earlier of (y) the first day of the first calendar month following a Sweep Date when no Event of Default is then-continuing, and (z) the occurrence of the Security Release Trigger.>
Sample 1

Examples of Cash Sweep Termination Date in a sentence

  • Following a Cash Sweep Trigger, the Borrowers shall only be permitted to withdraw funds from the Cash Collateral Account at such time as the Administrative Agent have confirmed in writing that the Cash Sweep Termination Date has occurred.

  • Following a Cash Sweep Trigger, the Borrower shall only be permitted to withdraw funds from the Cash Collateral Account at such time as the Administrative Agent and the Bank of America Agent have confirmed in writing that the Cash Sweep Termination Date has occurred.


More Definitions of Cash Sweep Termination Date

Cash Sweep Termination Date means, with respect to any Cash Sweep Period, (a) if such Cash Sweep Period occurred as a result of the occurrence of any Event of Default, such Event of Default no longer exists or Lender has waived such Event of Default in writing and no other Event of Default then exists, and (b) if such Cash Sweep Period occurred as a result of the Debt Service Coverage Ratio having been less than 1.15 to 1.00 as of the end of any Fiscal Quarter (and Borrower has not timely paid down the Principal Indebtedness in the manner described above in the definition of Cash Sweep Period in order to prevent a Cash Sweep Period from commencing), either (i) demonstration by Borrower that the Debt Service Coverage Ratio is at least 1.20 to 1.00 as of the end of any two (2) consecutive Fiscal Quarters occurring after the commencement of such Cash Sweep Period, or (ii) prepayment by Borrower, at any time during such Cash Sweep Period, of the Principal Indebtedness to the extent necessary to achieve a Debt Service Coverage Ratio of 1.20 to 1.00 as of the end of the then most recent Fiscal Quarter ending after the commencement of such Cash Sweep Period.
Sample 1Sample 2
Cash Sweep Termination Date means any date on which the Borrowers shall deliver evidence to the Agent, in form and substance satisfactory to the Agent, that Availability (without giving effect to the Xxxxxxx Obligation Reserve), for the 365 consecutive calendar days then most recently ending, was not less than (a) $45,000,000 at all times during the months of January, February, March, April, May and June and (b) $35,000,000 at all times during the months of July, August, September, October, November and December.
Sample 1
Cash Sweep Termination Date means the date on which the aggregate principal amount of outstanding Term Loans has been reduced to an amount less than
Sample 1
Cash Sweep Termination Date means the first calendar month following a Sweep Date when the following has occurred: (a) it is determined by Lender to Lender’s reasonable satisfaction (based on the financial information provided by Borrower pursuant to the terms of this Agreement), that the Debt Service Coverage Ratio has been, for the most-recently ended two (2) calendar quarters, at least equal to the applicable Debt Service Coverage Ratio set forth above; and (b) no Event of Default is then-continuing.
Sample 1
Cash Sweep Termination Date means any date on which (a) if the Cash Sweep Period occurred as a result of an event described in clause (a) of the definition of Cash Sweep Trigger Date, such Event of Default has been waived in accordance with the terms of this Agreement and no other Event of Default shall have occurred and be continuing, or (b) if the Cash Sweep Period occurred as a result of an event described in clause (b) of the definition of Cash Sweep Trigger Date, Excess Availability has been greater than $50,000,000 for each day of any forty-five (45) consecutive day period after the relevant Cash Sweep Trigger Date or (b) Excess Availability has been greater than $30,000,000 for each day of any ninety (90) consecutive day period after the relevant Cash Sweep Trigger Date; provided, however, except as the Administrative Agent and the Required Lenders may otherwise hereafter agree in writing, a Cash Sweep Period may no longer be terminated following the second termination of any Cash Sweep Period in any twelve (12) consecutive month period or the sixth termination of any Cash Sweep Period during the term of this Agreement, and
Sample 1

Related to Cash Sweep Termination Date

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Availability Termination Date means, as to either Borrower, the earliest of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

  • Event Termination Date See Section 2(e) hereof.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Agreement Termination Date is defined in Section 7.4.

  • Liquidity Termination Date means the earlier to occur of the following:

  • Series Termination Date means, with respect to any Series of Certificates, the date stated in the related Supplement.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Scheduled Termination Date means July 9, 2021 or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.02.

  • Lease Termination Date means the last day of the Lease Term.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Accretion Termination Date As defined in the Series Supplement.

  • Accrual Termination Date Not applicable.

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

  • Funding Termination Date means the Business Day immediately preceding the ------------------------ Remittance Date occurring in the calendar month that is the third calendar month following the calendar month of the Closing Date, or November 30, 2001.

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Scheduled Commitment Termination Date means March 21, 2023March 28, 2022.