Low DSCR Cure Prepayment definition

Low DSCR Cure Prepayment means any voluntary prepayment made by Borrower to Lender of the principal of the Loan during any Low DSCR Period.
Low DSCR Cure Prepayment has the meaning assigned to such term in Section 4.4(2).
Low DSCR Cure Prepayment means any voluntary prepayment made by Borrower to Lender of the principal of the Loan during any Low DSCR Period other than a payment in reduction of any Deferred Interest Amount. “Low DSCR Period” means a period that shall commence on the date which is the first day of the Interest Period following the determination by Lender that the Component E2 DSCR determined with reference to the applicable DSCR Period Measurement Date is less than the Low DSCR Trigger based on the financial statements of Borrower related to such DSCR Period Measurement Date and any applicable amounts in the PCC Reserve Subaccount as of the date of determination, and shall end if no Component E1 DSCR Period or Component D DSCR Period is continuing (provided that a Low DSCR Period may end simultaneously with a Component E1 DSCR Period or a Component D DSCR Period in accordance with the related definitions thereof) and (i) on the date which is the first day of the Interest Period following the determination by Lender that, as of the applicable DSCR Period Measurement Date, based on the financial statements of Borrower related to such DSCR Period Measurement Date and any applicable amounts in the PCC Reserve Subaccount as of the date of determination, that, as of any two (2) succeeding consecutive Calculation Dates occurring after the commencement of the related Low DSCR Period, the Component E2 DSCR is at least the Low DSCR Trigger or (ii) upon Borrower prepaying the principal amount of the Loan in an amount sufficient to cause the Component E2 DSCR to be at least the Low DSCR Trigger, effective as of the first day of the Interest Period following the date on which such prepayment is made; provided that no Low DSCR Period will be continuing if the Component Outstanding Principal Balance of Component E-2 and all more

Examples of Low DSCR Cure Prepayment in a sentence

  • Provided no Cash Sweep Period is continuing as of two consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower; provided, that in the event of a Low DSCR Cure Prepayment, Lender is required to release the Cash Collateral Funds to Borrower within two (2) Business Days of the date of such Low DSCR Cure Prepayment.

  • If such prepayment is a voluntary prepayment (other than a Low DSCR Cure Prepayment or a payment of any Deferred Interest Amount), such prepayment is limited to a minimum prepayment amount of not less than $1,000,000 and integral multiples of $100,000 in excess thereof and shall be made and applied in the manner set forth in Section 2.4.5.

  • Provided no Cash Sweep Period is continuing as of two (2) consecutive Calculation Dates (or after the second Calculation Date following the making of a Low DSCR Cure Prepayment by Borrower), Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower.

  • Provided no Cash Sweep Period is continuing as of two (2) consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Subaccount to Borrower; provided, that in the event of a Low DSCR Cure Prepayment, Lender is required to release the Cash Collateral Funds to Borrower within two (2) Business Days of the date of such Low DSCR Cure Prepayment.

  • Provided no Trigger Period is continuing as of two (2) consecutive Calculation Dates, Lender shall release Cash Collateral Funds in the Cash Collateral Account to Borrower; provided, that in the event of a Low DSCR Cure Prepayment or Low Debt Yield Cure Prepayment, Lender shall release Cash Collateral Funds in the Cash Collateral Account to Borrower within one (1) Business Day of the date of such Low DSCR Cure Prepayment or Low Debt Yield Cure Prepayment.

Related to Low DSCR Cure Prepayment

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Mandatory Prepayment shall have the meaning set forth in Section 2.1(c).

  • Required Prepayment Lenders the Majority Facility Lenders in respect of each Facility.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Full Prepayment Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Partial Prepayment Amount means the amount required to prepay a portion of the Annual Special Tax obligation for an Assessor’s Parcel as described in Section H.

  • Discount Prepayment Accepting Lender has the meaning set forth in Section 2.05(a)(v)(B)(2).

  • Borrower Offer of Specified Discount Prepayment means the offer by any Company Party to make a voluntary prepayment of Term Loans at a Specified Discount to par pursuant to Section 2.05(a)(v)(B).

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(w)(i)).

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Acceptable Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Required Prepayment Date as defined in Section 2.15(c).

  • Discounted Voluntary Prepayment has the meaning specified in Section 2.05(d)(i).

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.

  • Initial Prepayment shall have the meaning set forth in Section 7.2 of this Agreement.

  • Notice of Loan Prepayment means a notice of prepayment with respect to a Loan, which shall be substantially in the form of Exhibit 2.05 or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer.

  • Waivable Mandatory Prepayment shall have the meaning assigned to such term in Section 2.11(e).

  • Prepayment means, with respect to any Receivable, any prepayment, whether in part or in full, in respect of such Receivable.

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Discount Range Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Mandatory Prepayment Event means any of the following:

  • Discounted Voluntary Prepayment Notice has the meaning specified in Section 2.05(d)(v).