Cash Trapping Release Date definition

Cash Trapping Release Date means any Quarterly Payment Date (i) on which a Cash Trapping Period is no longer continuing or (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%.
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Cash Trapping Release Date means any Quarterly Payment Date (i) on which a Cash Trapping Period is no longer continuing or (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%. “Casualty Reinvestment Period” has the meaning specified in Section 5.11(h) of the Base Indenture. “Cause” means, with respect to an Independent Manager, (i) acts or omissions by such Independent Manager constituting fraud, dishonesty, negligence, misconduct or other deliberate action which causes injury to any Securitization Entity or an act by such Independent Manager involving moral turpitude or a serious crime, (ii) that such Independent Manager no longer meets the definition of “Independent Manager” as set forth in the applicable Securitization Entity’s Charter Documents or (iii) a material increase in fees charged by such Independent Manager; provided, that the Independent Manager may only be removed for Cause pursuant to this clause (iii) with the consent of the Control Party. “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 Indenture. “CCR Election” means an election of a Controlling Class Representative as set forth in Section 11.1(a) and (b) of the Base Indenture. “CCR Election Notice” has the meaning set forth in Section 11.1(b) of the Base Indenture.
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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 Indenture. “CCR Election” means an election of a Controlling Class Representative pursuant to Section 11.1 of the Base Indenture.
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Examples of Cash Trapping Release Date in a sentence

  • On the Accounting Date preceding any Payment Date that is a Cash Trapping Release Date, the Master Issuer and SRI Real Estate Holdco shall instruct the Trustee in writing to withdraw on such Payment Date funds then on deposit in the Cash Trap Reserve Account equal to the Cash Trapping Release Amount and to deposit such funds into the Collection Account.


More Definitions of Cash Trapping Release Date

Cash Trapping Release Date means the first Payment Date subsequent to the commencement of a Cash Trapping Period on which both (i) the DSCR determined with respect to such Payment Date and with respect to each of the two Payment Dates immediately preceding such Payment Date is equal to or exceeds the Cash Trapping DSCR Threshold and (ii) the sum of Aggregate Franchise Drive-In Gross Sales and Aggregate Company-owned Drive-In Gross Sales determined with respect to such Payment Date and with respect to each of the two Payment Dates immediately preceding such Payment Date is equal to or exceeds the Cash Trapping Gross Sales Threshold.
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Related to Cash Trapping Release Date

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Escrow Release Conditions means, collectively, the conditions set forth in Section 4.3.

  • Event Outside Our Control means any act or event beyond WRAS’s reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks [or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport;

  • Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.