Trigger Event Cure definition

Trigger Event Cure means that EBITDAR (excluding, in making such calculation, any capital contributions made to or for the benefit of Borrower, Mortgage Borrower or Operating Company, or payments made on the account of Borrower, Mortgage Borrower or Operating Company by any Affiliate of Borrower, Mortgage Borrower or Operating Company) from the Properties, calculated for the trailing twelve (12) month period immediately prior to the applicable calculation date, is equal to or greater than eighty-five percent (85%) of the EBITDAR (Closing Date) for two (2) consecutive calendar quarters.
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Trigger Event Cure with respect to any Trigger Event, the occurrence of (a) the repayment by the Borrower in full of all outstanding Loans, outstanding Reimbursement Obligations and the Cash Collateralization of all L/C Obligations in an amount not less than the Minimum Collateral Amount and (b) a Debt Yield of equal to or greater than, as of the last day of each of the three calendar months immediately succeeding the calendar month during which such Trigger Event occurred, the required percentage for such calendar month described in the next succeeding sentence. The required percentage referred to in the immediately preceding sentence for any calendar month shall be (x) for each calendar month ended prior to but excluding the first anniversary of the Closing Date, 11.00%, and (y) for each calendar month ended on or after the first anniversary of the Closing Date, 11.50%.
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Trigger Event Cure with respect to any Trigger Event, the occurrence of (a) the repayment by the Borrower in full of all outstanding Revolving Loans and all outstanding Reimbursement Obligations and the Cash Collateralization of all L/C Obligations in an amount not less than the Minimum Collateral Amount and (b) a Debt Yield of equal to or greater than the Required Debt Yield (Trigger Event) as of the last day of each of two consecutive calendar quarters after the calendar quarter during which such Trigger Event occurred.
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Examples of Trigger Event Cure in a sentence

  • If (and for so long as) a Trigger Event shall have occurred and shall not have been cured by a Trigger Event Cure, Borrower shall deposit with Lender (or Servicer, as directed by Lender), at least ten (10) Business Days prior to each Payment Date during such period, an amount equal to the Ground Rent that will be payable under the Ground Lease for the month in which such Payment Date occurs.

  • If at any time no Event of Default is continuing and a DSCR Trigger Event Cure shall occur (without taking into account any sums on deposit in the DSCR Cure Fund or the Letter of Credit delivered to Lender), Lender shall, as applicable, return the Letter of Credit or return all of the funds remaining in the DSCR Cure Fund to Borrower.

  • At such time that the applicable Major Tenant Trigger Event Cure has occurred and provided no other Major Tenant Trigger Period exists, all available Rollover Funds in excess of the Rollover Cap Amount shall be deposited into the Clearing Account.

  • Upon the occurrence of a Lockbox Trigger Event Cure, and acceptance of such cure by Administrative Agent (such acceptance not to be unreasonably withheld or delayed so long as no Default then exists, the Loan has not been accelerated, and Administrative Agent or the Lenders have not moved for a receiver or commenced foreclosure proceedings), the Lockbox Trigger Event shall be deemed cured.

  • Upon the occurrence of a Lockbox Trigger Event Cure, and acceptance of such cure by Administrative Agent (such acceptance not to be unreasonably withheld or delayed so long as no Default then exists, the Loan has not been accelerated, and Administrative Agent or Lenders have not moved for a receiver or commenced foreclosure proceedings), the Lockbox Trigger Event shall be deemed cured.

  • Each Junior Lender shall have the right to give notice to Senior Lender that such Junior Lender has determined, in its reasonable judgment made in accordance with the terms of the Senior Loan Documents, that a Cash Management Trigger Event Period or a Cash Sweep Trigger Event Period is in effect or that a Cash Management Trigger Event Period or a Cash Sweep Trigger Event Cure has not occurred, provided that no such determination shall be binding on Senior Lender’s determination thereof.

  • Upon the occurrence of a Lockbox Trigger Event Cure, Administrative Agent shall promptly send Lockbox Trigger Event Cure Notice to each Property Account Bank and instruct each such Property Account Bank to distribute funds thereafter deposited therein accordingly (unless an until a new Lockbox Period occurs or an Event of Default occurs).

  • Upon the occurrence of an Excess Cash Flow Sweep Trigger Event Cure (there shall be no more than three (3) Excess Cash Flow Sweep Trigger Event Cures) and provided no other Excess Cash Flow Sweep Trigger exists, all funds in the Excess Cash Flow Account, with the exception of the Go Dark Trigger Cap Amount, shall be remitted to Borrower within five (5) Business Days thereafter.

  • Provided no Event of Default is then continuing, Lender shall disburse the amounts on deposit in the Free Rent Reserve Account in accordance with Schedule VIII attached hereto or, if applicable, in connection with any free rent credits deposits by Borrower in connection with satisfying a Belpre V Trigger Event Cure on a monthly basis, on each Payment Date for each month of free rent credit deposited based on the corresponding month to which such free rent applies.

  • Upon a Trigger Event Cure, provided no Event of Default exists, the proceeds in the Tax and Insurance Escrow Fund or the Tax and Insurance Letter of Credit, as applicable, shall be returned to Borrower.


More Definitions of Trigger Event Cure

Trigger Event Cure means that EBITDAR (excluding, in making such calculation, any capital contributions made to or for the benefit of Borrower or Operating Company, or payments made on the account of Borrower or Operating Company by any Affiliate of Borrower or Operating Company) from the Properties, calculated for the trailing twelve (12) month period immediately prior to the applicable calculation date, is equal to or greater than eighty-five percent (85%) of the EBITDAR (Closing Date) for two (2) consecutive calendar quarters.
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Trigger Event Cure means (i) with respect to any Trigger ------------------ Event which has occurred (other than a Trigger Event in clause (ii) below) (A) such Trigger Event has not continued for a period of three consecutive months, (B) all amounts in respect of distributions due to the Class A, Class B and Class C Notes as of such date have been paid or such amounts are on deposit in the Reserve Account, (C) the Requisite Reserve Amount (without taking into account such Trigger Event) is on deposit in the Reserve Account and (D) no other Trigger Event has occurred, and
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Trigger Event Cure means Guarantor obtaining a corporate credit rating from S&P of “BB”.
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Trigger Event Cure has the meaning assigned in Section 2.5.
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Trigger Event Cure means (i) with respect to a Trigger Event based on Debt Service Coverage, the Debt Service Coverage for the Project is 1.25:1 or greater for two consecutive calendar quarters on a trailing six month basis as reasonably determined by Lender, and (ii) with respect to a Trigger Event based on the occurrence of an Event of Default, the cure of such Event of Default.
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Related to Trigger Event Cure

  • Threshold Event Cure shall have the meaning assigned to such term in Section 5(g).

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

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

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

  • 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.

  • 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.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

  • Judgment Currency Conversion Date shall have the meaning assigned to such term in Section 11.18(a).

  • VWAP Market Disruption Event means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which the Common Stock is then listed, or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, the principal other market on which the Common Stock is then traded, to open for trading during its regular trading session on such date; or (B) the occurrence or existence, for more than one half hour period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date.

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.

  • Interest Rate Adjustment Event means the occurrence of any of the following:

  • 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.

  • 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%

  • 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.

  • 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.

  • Cash Settlement Averaging Period means (a) with respect to any Conversion Date occurring on or after the 24th Scheduled Trading Day immediately preceding the Maturity Date, the twenty (20) consecutive Trading Day period ending on, and including, the third Scheduled Trading Day immediately preceding the Maturity Date and (b) in all other cases, the twenty (20) consecutive Trading Day period beginning on, and including, the third Trading Day immediately following the relevant Conversion Date.

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Xxxxxx, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Component Currency means any currency which, on the Conversion Date, was a component currency of the relevant currency unit.

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

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • FX Market Disruption Event means each of the following events:

  • Trigger Price for any Pricing Period shall mean the greater of (i) the Company Designated Minimum Put Share Price, plus $0.075, or (ii) the Company Designated Minimum Put Share Price divided by .91.

  • Index Adjustment Event means, in respect of the Index, an Administrator/Benchmark Event, an Index Cancellation, an Index Disruption or an Index Modification.

  • Extraordinary Adjustment Event means any of the following events as they relate to the Reference In- strument:

  • Market Disruption Event means either of the following events as determined by the Calculation Agent: