Cash Trap Event Period definition

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

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

Cash Trap Event Period has the meaning given to such term in Section 10.16(b).

Examples of Cash Trap Event Period in a sentence

• All Tax Reserve Funds shall be held by Lender or Servicer in an Eligible Account (the “Tax Reserve Account”) which, during the continuation of a Cash Trap Event Period, may be a sub-account of the Cash Management Account.

• All Existing TI/LC Reserve Funds shall be held by Lender or Servicer in an Eligible Account (the “Existing TI/LC Reserve Account”) which, during the continuation of a Cash Trap Event Period, may be a sub-account of the Cash Management Account.

• In the event of a Cash Trap Event Period, all Excess Cash Flow (as defined in the Cash Management Agreement) shall be deposited into the Excess Cash Flow Subaccount (as defined in the Cash Management Agreement), as more particularly set forth in the Cash Management Agreement.

• All Replacement Reserve Funds shall be held by Lender or Servicer in an Eligible Account (the “Replacement Reserve Account”) which, during the continuation of a Cash Trap Event Period, may be a sub-account of the Cash Management Account.

• All Insurance Reserve Funds shall be held by Lender or Servicer in an Eligible Account (the “Insurance Reserve Account”) which, during the continuation of a Cash Trap Event Period, may be a sub-account of the Cash Management Account.

More Definitions of Cash Trap Event Period

Cash Trap Event Period means a period commencing upon the earlier of (i) the occurrence and continuance of an Event of Default (including, without limitation, the termination or loss of the franchise for an Individual Property) or (ii) the Debt Yield being less than 10% (tested quarterly), which such Cash Trap Event Period shall expire (y) with regard to any Cash Trap Event Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default (provided that a Cash Trap Event Period has not occurred and is not continuing pursuant to clause (ii) above), or (z) with regard to any Cash Trap Event Period commenced in connection with clause (ii) above, upon the date that the Debt Yield is equal to or greater than 10.5% (provided that no Event of Default shall have occurred and be continuing during and at the time of the expiration of such period). Borrower shall have the right to cure a Cash Trap Event Period commenced in connection with clause (ii) above by prepaying the Loan in an amount which would cause the Debt Yield to be 10.5%. Any such prepayment shall be made in accordance with Section 2.7 of the Loan Agreement without payment of any Exit Fee.

Cash Trap Event Period means the period commencing on the occurrence of a Cash Trap Event and terminating on the date of the Cash Trap Event Cure.

Cash Trap Event Period means a period:

Cash Trap Event Period. A period commencing upon the occurrence of a Cash Trap Event and terminating upon the occurrence of a Cash Trap Event Cure.

Cash Trap Event Period has the meaning given to such term in Section 11.27 of this Agreement.

Cash Trap Event Period means (1) a Major Tenant Event Period or (2) a period commencing upon the earlier of (i) the occurrence and continuance of an Event of Default or (ii) the Debt Yield being less than 7.5% (tested quarterly), which such Cash Trap Event Period shall expire, provided that no other Cash Trap Event Period has commenced and is then continuing, (y) with regard to any Cash Trap Event Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default, or (z) with regard to any Cash Trap Event Period commenced in connection with clause (ii) above, upon the date on which the Debt Yield has been at least 7.5% for two (2) consecutive calendar quarters.

Cash Trap Event Period means a period commencing upon the earlier of