Revenue Sharing Trigger Event definition

Revenue Sharing Trigger Event shall be deemed to exist if at any time the Borrower is not actively engaged in the development of a capital program expanding the regional Sound Transit system pursuant to an authorized and voter approved capital expenditure program (including, for the avoidance of doubt, the ST2 Capital Program, the ST3 Capital Program or any other successor or replacement capital expenditure program thereto).
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Revenue Sharing Trigger Event means, at any time, the occurrence of the following: the Borrower is not actively engaged in the implementation of a capital program pursuant to an authorized and voter approved capital expenditure program (including, for the avoidance of doubt, the ST2 Capital Program, the ST3 Capital Program or any other successor or replacement capital expenditure program thereto), which capital program involves the expansion of the regional Sound Transit system.
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Revenue Sharing Trigger Event means the occurrence and continuation of the following events: (i)shall be deemed to exist if at any time the Borrower is not actively engaged in the development of a capital program expanding the regional Sound Transit system pursuant to an authorized and voter approved capital expenditure program (including, for the avoidance of doubt, the ST2 Capital Program has been completed, stopped or abandoned and (ii), the ST3 Capital Program or other capital programs to build the regional transit system have not been approved by the voters and are not under active developmentany other successor or replacement capital expenditure program thereto).
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Examples of Revenue Sharing Trigger Event in a sentence

  • Following the occurrence of a Revenue Sharing Trigger Event, on each Semi-Annual Payment Date while the Revenue Sharing Trigger Event remains in effect, the Borrower shall prepay the TIFIA Loan, in whole or in part, without penalty or premium, from amounts then on deposit in the Revenue Sharing Account.

  • Following the occurrence of a Revenue Sharing Trigger Event, on each Semi-Annual Payment Date while the Revenue Sharing Trigger Event remains in effect, the Borrower shall prepay the TIFIA Loan in whole or in part, without penalty or premium, from amounts then on deposit in the Revenue Sharing Account.

  • Following the occurrence of a Revenue Sharing Trigger Event, on each Semi-Annual Payment Date while the Revenue Sharing Trigger Event remains in effect, the Borrower shall prepay each TIFIA Loan (on a pro rata basis based on the then Outstanding TIFIA Loan Balance in respect of such TIFIA Loan), in whole or in part, without penalty or premium, from amounts then on deposit in the Revenue Sharing Account.

  • Following the occurrence of a Revenue Sharing Trigger Event, on each Semi-Annual Payment Date while the Revenue Sharing Trigger Event remains in effect, the Borrower shall prepay the RRIF Loan, in whole or in part, without penalty or premium, from amounts then on deposit in the Revenue Sharing Account.

  • Following the occurrence of a Revenue Sharing Trigger Event, on each Semi-Annual Payment Date while the Revenue Sharing Trigger Event‌ remains in effect, the Borrower shall prepay the TIFIA Loan, in whole or in part, without penalty or premium, from amounts then on deposit in the Revenue Sharing Account.


More Definitions of Revenue Sharing Trigger Event

Revenue Sharing Trigger Event means any date on which Subordinate Obligations issued to the United States Department of Transportation, acting by and through the Executive Director of the Build America Bureau, are outstanding and HRTAC or the Virginia Department of Transportation, an agency of the Commonwealth of Virginia, on behalf of HRTAC, is not actively engaged in the development of capital project programs in the Hampton Roads Transportation Planning Organization’s most recently adopted long-range transportation plan.
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Related to Revenue Sharing Trigger Event

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Derivative Provider Trigger Event means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Cash Dominion Trigger Period means the period commencing on the occurrence of a Cash Dominion Trigger Event, and continuing until the date that (a) no Event of Default shall be continuing and (b) Excess Availability is greater than or equal to the greater of (i) 15.0% of the Line Cap and (ii) $6,250,000, in each case, for a period of at least three (3) consecutive Business Days.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Tier 2 Capital Event means the receipt by the Company of a legal opinion from counsel experienced in such matters to the effect that the Subordinated Notes do not constitute, or within 90 days of the date of such legal opinion will not constitute, Tier 2 Capital (or its then equivalent if the Company were subject to such capital requirement).

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Distribution Event means any insolvency, bankruptcy, receivership, liquidation, reorganization or similar proceeding (whether voluntary or involuntary) relating to the Company or its property, or any proceeding for voluntary or involuntary liquidation, dissolution or other winding up of the Company, whether or not involving insolvency or bankruptcy.

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.