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 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 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

  • During a Cash Sweep Event Period, Borrower shall deposit with Lender all Excess Cash Flow, which sums shall be held by Lender as additional security for the Loan.

  • Funds deposited into the Clearing Account shall be swept by the Clearing Bank on a daily basis into Borrower's operating account at the Clearing Bank, unless a Sweep Event Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Cash Management Bank controlled by Lender (the "Cash Management Account") and applied and disbursed in accordance with this Agreement and the Cash Management Agreement.

  • Borrower shall pay all Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property or any part thereof as the same become due and payable; provided, however, with respect to Taxes and Other Charges that are due more than sixty (60) days after the Closing Date, during the continuance of a Cash Sweep Event Period, Borrower shall not be obligated to directly pay Taxes so long as Borrower complies with the terms and provisions of Section 6.2 hereof.

  • Amounts deposited from time to time into the Excess Cash Flow Account pursuant to this Section 6.9 and Section 6.11 are referred to herein as the "Excess Cash Flow Funds." Upon a termination, if any, of a Sweep Event Period, provided no other Sweep Event Period is continuing, Lender shall distribute the Excess Cash Flow Funds on deposit in the Excess Cash Flow Account to Borrower.

  • Upon the occurrence and during the continuance of a Cash Sweep Event Period, Borrower shall deposit, or cause to be deposited pursuant to the Cash Management Agreement, all Excess Cash Flow with Agent to be held as additional collateral for the Loan.

  • Any Insurance Funds remaining after the earlier to occur of (x) the termination of the Cash Sweep Event Period, and (y) the Debt being indefeasibly paid in full shall be promptly paid to Borrower.

  • At such time as a Cash Sweep Event Period shall no longer be in effect, all funds on deposit as Cash Trap Funds less any outstanding Leasing Costs (provided that such Leasing Costs are not covered by any Leasing Costs Future Advance made or to be made) shall be promptly disbursed to Borrower.

  • Borrower shall deposit with Agent or Servicer on behalf of Agent (or cause to be deposited with Agent or Servicer pursuant to the Cash Management Agreement), on each Monthly Payment Date during the continuance of a Cash Sweep Event Period, an amount equal to one-twelfth of the Taxes that Agent estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates.

  • At Hereward House we will meet the learning objectives and content outlined in the Relationships Education, Relationships & Sex Education and Health Education Guidance.

  • Cash Management Bank shall disburse funds in the Excess Cash Flow Subaccount (i) following Cash Management Bank's receipt of notice from Lender or Designee that a Cash Sweep Event Period has occurred and is continuing, to Designee for deposit into the Excess Cash Flow Account to be held and applied in accordance with the terms and conditions of Sections 6.


More Definitions of Sweep Event Period

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”).
Sample 1
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).
Sample 1
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.

  • Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

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

  • 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.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Curtailment Period means a time period for which Seller is requested by CAISO or a Transmission Provider to curtail its Power Product for Force Majeure or otherwise.

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

  • 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.

  • 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

  • Mid-Month Receipt Period With respect to each Distribution Date, the one month period beginning on the Determination Date (or, in the case of the first Distribution Date, from and including the Cut-Off-Date) occurring in the calendar month preceding the month in which such Distribution Date occurs and ending on the day preceding the Determination Date immediately preceding such Distribution Date.

  • Trigger Period means the period commencing on the first public announcement by the Issuer of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control; provided, that if the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies, such 60-day period shall be extended until the first to occur of (x) the date that such Rating Agency announces the results of its review and (y) the date that is 180 days after consummation of the Change of Control.

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

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

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

  • 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.

  • Availability Termination Date means, as to either Borrower, the earliest of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Cash Dominion Period means the period commencing after the occurrence of a Cash Dominion Event and continuing until the date when (A) no Event of Default shall exist and be continuing, and (B) Excess Availability is greater than the greater of (x) 12.5% of the Line Cap, and (y) $25,000,000 for 30 consecutive days.

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

  • Dominion Period has the meaning given to such term in the Intercreditor Agreement.

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

  • Revolving Facility Termination Date means the earlier of (i) August 9, 2018, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Final Disruption Date has the meaning provided in Annex A to this Confirmation. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent, acting commercially reasonably, may determine that such Expiration Date is a Disrupted Day only in part, in which case (i) the Calculation Agent shall make commercially reasonable adjustments to the Number of Warrants for the relevant Component for which such day shall be the Expiration Date and shall designate the Scheduled Trading Day determined in the manner described in the second preceding sentence as the Expiration Date for the remaining Warrants for such Component, and (ii) the VWAP Price for such Disrupted Day shall be determined by the Calculation Agent based on transactions in the Shares on such Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Any Scheduled Trading Day on which, as of the date hereof, the Exchange is scheduled to close prior to its normal close of trading shall be deemed not to be a Scheduled Trading Day; if a closure of the Exchange prior to its normal close of trading on any Scheduled Trading Day is scheduled following the date hereof, but prior to the open of the regular trading session of the Exchange on such day, then such Scheduled Trading Day shall be deemed to be a Disrupted Day in full.

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

  • Event Termination Date See Section 2(e) hereof.

  • 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).