LTV Event definition
LTV Event has the meaning set forth in Section 6.08(a).
LTV Event means, with respect to any Note and as of any Payment Date, an event which shall occur if the LTV for such Note is higher than the LTV of such Note as of the preceding Payment Date.
LTV Event means for any Term Note, as of any date of determination after a Term Notes respective Conversion Date (or the Closing Date in case of the Initial Term Note), that the LTV for such Term Note is higher than the LTV as of the preceding Payment Date.
Examples of LTV Event in a sentence
If, on any day other than an LTV Test Date, an LTV Event occurs, the Borrower may, at any time thereafter remedy such LTV Event by: (i) prepaying the Loans in accordance with Section 2.08(b); (ii) providing Additional Collateral in accordance with Section 7.05.
More Definitions of LTV Event
LTV Event means, as of any date of determination, the LTV is greater than the applicable Maximum LTV Threshold. If any LTV Event shall occur, it shall be deemed to be in existence until the earlier of (a) the date such LTV Event is cured or (b) the next LTV Test Date (if any) on which the LTV is lower than the applicable Maximum LTV Threshold. “LTV Test Date” means each LTV Trigger Test Date, each Drawdown Date, each Determination Date while an LTV Trigger Event is continuing, and in respect of any prepayment of the Loan pursuant to Section 2.08(e), the date such prepayment is due. “LTV Trigger Event” means, as of any LTV Trigger Test Date, the LTV is greater than the applicable Maximum LTV Threshold. If any LTV Trigger Event shall occur, it shall be deemed to be in existence until the earlier of (a) the date such LTV Trigger Event is cured or (b) the next LTV Test Date (if any) on which the LTV is lower than the applicable Maximum LTV Threshold. “LTV Trigger Test Date” means each Appraisal Date. “Maintenance Adjusted Base Value” means, as of any date of determination, the Half-Life Base Value of an Asset, adjusted by the relevant Appraiser to account for the maintenance status of such Asset (with such assumptions as to use since the last reported status as may be reasonably stated in the appraisal setting forth such Maintenance Adjusted Base Value). The Maintenance Adjusted Base Value for each Asset, as of any date of determination, shall be the average (mean) of the “Maintenance Adjusted Base Values” set forth in the Appraisals most recently delivered by each of the three Appraisers for such Asset in accordance with Section 2.03(b) or Section 5.02(b). “Maintenance Adjusted CMV” means, as at any date of determination, the specification-adjusted current market value of an Asset based on the most likely trading price that may be generated for such Asset under the market conditions that are perceived to exist at the time in question with the assumptions that such Asset is valued for its highest, best use, that the parties to the hypothetical transaction are willing, able, prudent, knowledgeable and under no unusual pressure for a prompt sale and that the transaction would be negotiated in an open and unrestricted market on an arm’s-length basis for cash or equivalent consideration, and given an adequate amount of time for effective exposure to potential buyers, using half-life values as adjusted to account for the specifications of the Asset and reflecting the state o...
LTV Event means if on any Test Date it is determined that the LTV Ratio is in excess of 90 percent.
LTV Event has the meaning set forth in Section 2.08(d)(i).