Sweep Event Period definition

Sweep Event Period means any period commencing upon the occurrence of a Sweep Event, and ending on account of any particular Sweep Event, on such subsequent Determination Date, as Lender reasonably determines that the Debt Service Coverage Ratio was greater than 1.25 to 1.00 for the Calculation Period ending on the last day of the calendar quarter immediately preceding such Determination Date (a “Sweep Event Cure”).
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Sweep Event Period means any period commencing upon the occurrence of a Sweep Event, and ending on account of any particular Sweep Event, on such subsequent Determination Date, as Lender reasonably determines that the Debt Service Coverage Ratio was greater than 1.25 to 1.00 for the Calculation Period ending on the last day of thecalendar quarter immediately preceding such Determination Date (a “Sweep Event Cure”).
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Sweep Event Period means that certain period commencing upon a Sweep Event and terminating upon a Sweep Event Cure, if any.
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Examples of Sweep Event Period in a sentence

  • Lender’s receipt of written notice from Mezzanine Lender that a Mezzanine Cash Sweep Event Period is continuing.


More Definitions of Sweep Event Period

Sweep Event Period means a period commencing upon the earlier of (i) the occurrence of an Event of Default, (ii) the Debt Service Coverage Ratio (commencing on the Monthly Payment Date occurring six (6) months from the Closing Date based on the trailing twelve (12) calendar months, as calculated by Lender) being less than 1.25 to 1.00, or (iii) the occurrence of a Franchise Termination Trigger Event, which such Sweep Event Period shall expire (a) with regard to any Sweep Event Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default and Lender's acceptance of such cure in its sole and absolute discretion (provided that no other Sweep Event Period has commenced and is continuing), (b) with regard to any Sweep Event Period commenced in connection with clause (ii) above, the Debt Service Coverage Ratio (based on the trailing twelve
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Sweep Event Period means a period commencing upon the earlier of (i) the occurrence of an Event of Default, (ii) the Debt Service Coverage Ratio (based on the trailing twelve (12) calendar months, as calculated by Lender) being less than 1.15 to 1.00, or (iii) any cancellation, termination or expiration of the Franchise Agreement, which such Sweep Event Period shall expire (a) with regard to any Sweep Event Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default and Lender's acceptance of such cure in its sole and absolute discretion (provided that no other Sweep Event Period has commenced and is continuing), (b) with regard to any Sweep Event Period commenced in connection with clause (ii) above, the Debt Service Coverage Ratio (based on the trailing twelve (12) calendar months, as calculated by Lender) is equal to or greater than 1.25 to 1.00 for two (2) consecutive calendar quarters (provided that no other Sweep Event Period has commenced and is continuing), or (c) with regard to any Sweep Event Period commenced in connection with clause (iii) above, Borrower enters into a franchise extension agreement or a replacement franchise agreement in form and substance satisfactory to Lender (provided that no other Sweep Event Period has commenced and is continuing).
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Sweep Event Period means (I) a Major Tenant Trigger Period or (II) a period of time commencing with the occurrence of (i) an Event of Default; or (ii) the Debt Service Coverage Ratio (based on the trailing twelve (12) calendar months and as determined by Lender) is at any time less than 1.10 to 1.00; and such Sweep Event Period shall expire, provided that no other Sweep Event Period has occurred and is continuing, (1) with regard to any Sweep Event Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default and acceptance by Lender of such cure in Lender’s sole and absolute discretion, and (2) with regard to any Sweep Event Period commenced in connection with clause (ii) above, upon the date on which the Debt Service Coverage Ratio (based on the trailing twelve (12) calendar months and as determined by Lender) is at least 1.15 to 1.00 for two (2) consecutive calendar quarters.
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Related to Sweep Event Period

  • Event Period shall have the meaning assigned to such term in Section 7.2 hereof.

  • Curtailment Period means the period of time during which Seller reduces generation from the Project, pursuant to a Curtailment Order. The Curtailment Period shall be inclusive of the time required for the Project to ramp down and ramp up; provided that such time periods to ramp down and ramp up shall be consistent with the Ramp Rate designated in the Cover Sheet.

  • Settlement Period has the meaning specified therefor in Section 2.02(d)(i) hereof.

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and

  • Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

  • Lock-out Period means the period from, and including, the day following the Interest Determination Date to, but excluding, the corresponding Interest Payment Date;

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Reinvestment Period means 15 months following the date of receipt of Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback.

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

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;

  • Standard Settlement Period means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

  • Event Date shall have the meaning set forth in Section 2(d).

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Lender shall have been made).