Examples of Debt Yield Trigger Event in a sentence
Upon the occurrence of a Cash Trap Event arising solely in connection with a Debt Yield Trigger Event, Excess Cash Flow shall be deposited with and held by Mortgage Lender for disbursement in accordance with Section 7.5.2 of the Mortgage Loan Agreement and the Cash Management Agreement.
If a Cash Sweep Event is due to a Debt Yield Trigger Event, the sweep of Excess Cash Flow shall cease if Borrower delivers a Letter of Credit to Lender for an amount equal to the difference between the current Net Cash Flow and the Net Cash Flow required to achieve a Debt Yield of seven and one half of one percent (7.5%) for six (6) consecutive months.
During a Cash Trap Event (other than a Cash Trap Event caused solely by a Debt Yield Trigger Event) Borrower shall deposit with Lender all Excess Cash Flow in the Cash Management Account, which shall be held by Lender as additional security for the Loan and amounts so held shall be hereinafter referred to as the “Excess Cash Flow Reserve Fund” and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”.
During a Cash Sweep Period due to a Debt Yield Trigger Event or an Event of Default, Borrower shall deposit with Lender all Excess Cash Flow in the Cash Management Account, which shall be held by Lender as additional security for the Loan and amounts so held shall be hereinafter referred to as the “Excess Cash Flow Reserve Funds” and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”.
Upon the occurrence of a Debt Yield Trigger Event Cure and provided no additional Event of Default exists, Lender shall return the Letter of Credit to Borrower.