Examples of Trigger in a sentence
If the Floor Price Trigger Date occurs prior to the date that is ninety (90) days from the Purchase Price Date (the “Prepayment Start Date”), then beginning on the Prepayment Start Date and each calendar month thereafter, Lender will have the right to demand that Borrower pay the Mandatory Monthly Prepayment Amount for such month in cash to Lender with the entire Outstanding Balance being due and payable on the six (6) month anniversary of the Prepayment Start Date.
Notwithstanding anything herein (including this Section 6.6) to the contrary, in no event shall any Unavoidable Delay (i) extend the deadline for or excuse the performance of any obligation or covenant that can be satisfied by the payment of a liquidated sum; (ii) extend the deadline for or otherwise apply to any Put Trigger Event (except that the foregoing will not apply in determining whether an Event of Default exists), or (iii) delay the Opening Date beyond the Outside Date.
At any time following the occurrence of any Trigger Event, Lender may, at its option, increase the Outstanding Balance by applying the Trigger Effect (subject to the limitation set forth below).
If the Additional Registration Statement is not declared effective by the SEC within one hundred twenty (120) days of the Trigger Date, the Outstanding Balance will automatically increase by one percent (1%) and will continue increasing by one percent (1%) every thirty (30) days thereafter until the Additional Registration Statement is declared effective.
If the Floor Price Trigger Date occurs on or after the one (1) year anniversary of the Purchase Price Date, then on the Floor Price Trigger Date and each calendar month thereafter, Lender will have the right to demand that Borrower pay the Mandatory Monthly Prepayment Amount in cash to Lender for such month with the entire Outstanding Balance being due and payable on the Maturity Date.