Collateral Trigger Event means the first date on which two (or more) of the Rating Agencies no longer maintain an Investment Grade Rating.

Collateral Trigger Event means the first date on which a Compliance Certificate is delivered pursuant to Section 7.02 that demonstrates that the Rent-Adjusted Total Net Leverage Ratio for the most recently ended Test Period is greater than 0.25 to 1.00 less than the Rent-Adjusted Total Net Leverage Ratio then in effect under Section 8.12(a).

Collateral Trigger Event set forth in the Credit Agreement, the Collateral Agent will release such Net Proceeds from time to time to pay the costs of such repair, restoration or replacement; provided that (i) such repair, restoration or replacement shall comply with the requirements set forth in such definition of "Collateral Trigger Event" and (ii) as a condition of any release of funds, the Collateral Agent may require delivery of evidence reasonably satisfactory to it of compliance with such requirements. The Collateral Agent shall invest any portion of the funds held by it from time to time pursuant to this paragraph as directed in writing from time to time by the Borrower. Any such investment shall be made only in Permitted Investments, shall be at the Borrower's risk and the earnings thereon shall be credited to the funds then held by the Collateral Agent hereunder for the Borrower's account. The Collateral Agent shall not be liable for any interest on uninvested funds. If any Event of Default occurs and is continuing, the Collateral Agent may, in its discretion, apply any funds then held by it hereunder as provided in Section 6.02.

Examples of Collateral Trigger Event in a sentence

After the occurrence of an Collateral Trigger Event, such policies of insurance shall contain satisfactory mortgagee/lender’s loss payable endorsements, naming the Administrative Agent (or its security trustee) as mortgagee or lender loss payee, assignee or additional insured, as appropriate, as its interest may appear, and showing only such other loss payees, assignees and additional insureds as are satisfactory to the Administrative Agent.
Upon the occurrence of a Collateral Trigger Event (as defined in the CP Deposit), any Collateral Assets delivered to the Issuer under the CP Deposit will be held by the Custodian on behalf of the Issuer, subject to the security created at any time in favour of the Trustee on behalf of secured creditors under the Trust Deed.
The Borrower shall promptly notify the Administrative Agent in writing of the occurrence of any Collateral Trigger Event.
If a Downgrade Event occurs in respect of the CP Deposit, within the prescribed period either the CP Deposit will be Transferred to a new Non CP Deposit (under the terms of the CDS) or a Collateral Trigger Event will occur under the CP Deposit such that Collateral Assets will be delivered by the Counterparty to the Issuer under the CP Deposit.
Section 6.11(f) is hereby amended by (i) deleting the phrase “the Collateral Trigger Event has not occurred on or prior to the date of such Disposition and” and (ii) deleting the word “and” at the end thereof.

More Definitions of Collateral Trigger Event

Collateral Trigger Event is defined in Section 8.24(b) hereof.

Collateral Trigger Event means the occurrence of any of the following events after a Collateral Release Event:

Collateral Trigger Event has the meaning set forth in Section 5.10(b).

Collateral Trigger Event means the occurrence of a Xxxxx 0 Xxxxxxxxxx Xxxxxxx, a Xxxxx 0 Xxxxxxxxxx Xxxxxxx or a Xxxxx 0 Xxxxxxxxxx Xxxxxxx.

Collateral Trigger Event means the earliest to occur of (i) termination of the SPAC Transactions in accordance with their terms (after giving effect to any applicable extension mechanics pursuant thereto), (ii) the consummation of the SPAC Transactions and (iii) December 31, 2021 (or such later date (not to exceed 30 days) as reasonably agreed by the Administrative Agent).

Collateral Trigger Event means as of any date of determination, (a) the occurrence and continuance of an Event of Default or (b) any date Borrowers shall have Undrawn Availability of less than ten percent (10%) of the Maximum Loan Amount for five (5) consecutive Business Days.

Collateral Trigger Event means the failure of the Borrower to be in compliance with the Minimum Liquidity Test as of (i) the last day of any month and (ii) the time of any Credit Extension.