Cash Trapping DSCR Threshold means a DSCR equal to 1.75x.
Cash Trapping DSCR Threshold means a DSCR equal to 1.75:1.00; provided that, on and after the 2021 Springing Amendments Implementation Date, anything herein or in any other Transaction Document to the contrary notwithstanding, the threshold set forth in this definition may be increased by the Issuer with the consent of the Control Party (such consent not to be unreasonably withheld, conditioned or delayed) and, to the extent a Cash Trapping Period is then in effect, each Noteholder of each Series of Notes then outstanding and affected thereby.
Cash Trapping DSCR Threshold means a Quarterly DSCR or, on and after the Springing Amendments Implementation Date, the DSCR, equal to 1.75x.
More Definitions of Cash Trapping DSCR Threshold
Cash Trapping DSCR Threshold means a DSCR equal to 1.75:1.00. “Cash Trapping Event” means, as of any Quarterly Payment Date, that the DSCR determined as of the immediately preceding Quarterly Calculation Date is less than the Cash Trapping DSCR Threshold. “Cash Trapping Percentage” means, with respect to any Weekly Allocation Date during a Cash Trapping Period, a percentage equal to (i) 50%, if the DSCR as calculated as of the immediately preceding Quarterly Calculation Date is less than 1.75:1.00 but equal to or greater than 1.50:1.00 and (ii) 100%, if the DSCR as calculated as of the immediately preceding Quarterly Calculation Date is less than 1.50:1.00. “Cash Trapping Period” means any period that begins on any Quarterly Payment Date on which a Cash Trapping Event occurs and ends on the first Quarterly Payment Date subsequent to the occurrence of such Cash Trapping Event on which the DSCR determined as of the immediately preceding Quarterly Calculation Date is equal to or exceeds the Cash Trapping DSCR Threshold. “Cash Trapping Release Amount” means, with respect to any Quarterly Payment Date (i) on which any Cash Trapping Period is no longer continuing, the full amount on deposit in the Cash Trap Reserve Accounts and (ii) on which the Cash Trapping Percentage is equal to 50% and on the prior Quarterly Payment Date the applicable Cash Trapping Percentage was equal to 100%, 50% of the aggregate amount deposited to the Cash Trap Reserve Accounts during the most recent period in which the applicable Cash Trapping Percentage was equal to 100%, after having been reduced ratably for any withdrawals made from the Cash Trap Reserve Accounts during such period for any other purpose. “Cash Trapping Release Date” means any Quarterly Payment Date on which amounts are released from the Cash Trap Reserve Accounts pursuant to Section 5.12(p) of the Base Indenture. “Casualty Reinvestment Period” has the meaning specified in Section 5.10(d) of the Base Indenture. “Cause” means, with respect to any Independent Manager, (i) acts or omissions by such Independent Manager constituting fraud, dishonesty, negligence, misconduct or other deliberate action which causes injury to the applicable Securitization Entity or an act by such Independent Manager involving moral turpitude or a serious crime or (ii) that such Independent Manager no longer meets the definition of “Independent Manager” as set forth in the applicable Securitization Entity’s Charter Documents. “CCR Acceptance Letter” has the meaning set f...