Cash Trapping Percentage definition

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 Percentage means (i) with respect to a Cash Trap Period pursuant to clauses (I)(a) or (b) of the definition thereof, 50% and (ii) with respect to a Cash Trap Period pursuant to clause (I)(c) of the definition thereof, 25%, it being understood that the Cash Trapping Percentage can never exceed 50%.
Cash Trapping Percentage means (i) if the aggregate number of Contributed Company-owned Drive-Ins held by all Contributed Company-owned Drive-In Holders as of such date is less than one hundred (100), 100% or (ii) if the aggregate number of Contributed Company-owned Drive-Ins held by all Contributed Company-owned Drive-In Holders is greater than or equal to one hundred (100), 65%.

Examples of Cash Trapping Percentage in a sentence

  • From and after the date that it is determined that a Cash Trap Period has commenced (as set forth in the Manager Report) and for so long as such Cash Trap Period continues to exist, the Cash Trapping Percentage of the funds available to be paid pursuant to clause (vii) of the Priority of Payments shall be deposited into the Cash Trap Reserve Account.

  • At the organization meeting the commissioner of education of the state where the meeting is held, or his or her designate, shall preside in the first instance, and the following business shall be transacted: [PL 1983, c.

  • Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period N/Aiii.

  • Cash Trapping Percentage during prior Quarterly Collection Period v.

  • Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period N/Av. Series 2012-1 Partial Cash Trapping Release Event N/Avi.

  • Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date N/Aiv.

  • Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection PeriodN/Av. Series 2012-1 Partial Cash Trapping Release Event N/Avi.


More Definitions of Cash Trapping Percentage

Cash Trapping Percentage means, with respect to any Weekly Allocation Date during a Cash Trapping Period (i) 50%, if either (A) the Quarterly DSCR determined with respect to such Quarterly Payment Date is less than the Cash Trapping DSCR Threshold but equal to or greater than 1.5x or (B) Global Retail Sales for the 13 Fiscal Periods ended on the last day of the immediately preceding Fiscal Period are less than $5,150,000,000 but greater than or equal to $4,650,000,000 and (ii) 100%, if either (A) the Quarterly DSCR determined with respect to such Quarterly Payment Date is less than 1.5x or (B) Global Retail Sales for the 13 Fiscal Periods ended on the last day of the immediately preceding Fiscal Period are less than $4,650,000,000.
Cash Trapping Percentage means, with respect to any Weekly Allocation Date during a Cash Trapping Period (i) 50%, if either (A) the Quarterly DSCR or, on and after the Springing Amendments Implementation Date, the DSCR, determined with respect to such Quarterly Payment Date is less than the Cash Trapping DSCR Threshold but equal to or greater than 1.5x or (B) Global Retail Sales for the 13 Fiscal Periods ended on the last day of the immediately preceding Fiscal Period are less than $5,150,000,000 but greater than or equal to $4,650,000,000 and (ii) 100%, if either (A) the Quarterly DSCR or, on and after the Springing Amendments Implementation Date, the DSCR, determined with respect to such Quarterly Payment Date is less than 1.5x or (B) Global Retail Sales for the 13 Fiscal Periods ended on the last day of the immediately preceding Fiscal Period are less than $4,650,000,000.
Cash Trapping Percentage means, with respect to any Weekly Allocation Date during a Cash Trapping Period, (i) unless clause (ii) applies, 50%, if (x) the DSCR as calculated as of the immediately preceding Quarterly Calculation Date is less than 1.75x but equal to or greater than 1.50x and/or (y) Applebee’s/IHOP Systemwide Sales as calculated as of the immediately preceding Quarterly Calculation Date are less than $5,000,000,000 but equal to or greater than $4,000,000,000, and (ii) 100%, if (x) the DSCR as calculated as of the immediately preceding Quarterly Calculation Date is less than 1.50x and/or (y) Applebee’s/IHOP Systemwide Sales as calculated as of the immediately preceding Quarterly Calculation Date are less than $4,000,000,000; provided that such the thresholds in (i)(y) and (ii)(y) may be increased or decreased at the request of the Co-Issuers subject to approval by the Control Party and satisfaction of the Rating Agency Condition.
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 forth in Section 11.1(e) of the Base Indenture. “CCR Ballot” has the meaning set forth in Section 11.1(c) of the Base Indenture. “CCR Candidate” means any nominee submitted to the Trustee on a CCR Nomination pursuant to Section 11.1(b) of the Base Indentu...
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; provided that, on and after the 2021 Springing Amendments Implementation Date, anything herein or in any other Transaction Document to the contrary notwithstanding, the thresholds 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.

Related to Cash Trapping Percentage

  • Dilution Reserve Percentage means, on any day, the product of (a) the Dilution Horizon Ratio, multiplied by (b) the sum of (i) 2.25 times the average of the Dilution Ratios for the twelve most recent Fiscal Months, plus (ii) the Dilution Volatility Component.

  • controlling percentage means the ownership of, and the right to vote, stocks possessing at least 50% of the total combined voting power of all classes of Tenant's stock issues, outstanding and permitted to vote for the election of directors;

  • Sharing Percentage means, with respect to any Member, a percentage, expressed as a fraction the numerator of which is the number of Units held by such Member and the denominator of which is the aggregate number of Units held by all Members.