Triggering Event Termination definition

Triggering Event Termination means, with respect to any Triggering Event Period, the earliest to occur of: (a) if such Triggering Event was triggered by an Event of Default, Borrower’s cure of such Event of Default and Lender’s acceptance of such cure (which cure Lender is not obligated to accept and may reject or accept in its sole and absolute discretion, unless required by Law), prior to Lender accelerating the Debt and exercising any of its remedies under the Loan Documents, (b) if such Triggering Event was triggered by a Debt Service Coverage Ratio calculation, the occurrence of the Debt Service Coverage Ratio being at least 1.30 to 1.00 for two (2) consecutive calendar quarters; provided, however, that any such Triggering Event Termination shall be subject to the condition that no Event of Default shall have occurred and be continuing.

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Triggering Event Termination means, provided that there shall be no Default, (x) with respect to a Triggering Event described in clause (i) or (iii) of the definition of such term, such time as the DSCR has been restored to a level above the Minimum DSCR for at least two calendar quarters following the occurrence of a Triggering Event; provided, that the requirement for two consecutive quarters of DSCR above the applicable Minimum DSCR pursuant to the immediately previous sentence shall not apply if (A) the amount of cash or Letter of Credit or Sweep Guaranty delivered to Administrative Agent as security for the Loan following the related DSCR Event in accordance with Section 9.13(b) hereof or (B) permitted partial prepayment of principal made by Borrower following the related DSCR Event, in each case, increases the DSCR to above the applicable Minimum DSCR for the two consecutive calendar quarters preceding the date of the delivery of such security or making of such prepayment (for such purposes determined as if the amount of the Loan had been reduced by the amount of such security or prepayment at the beginning of such two quarters period, in which event the Triggering Event Termination shall be deemed to have occurred immediately upon the delivery of such security or the making of such prepayment); and (y) with respect to a Triggering Event described in clause (ii) of the definition of such term, either (a) Borrower’s completion of the Existing UST Required Remediation or (b) such time as the Existing UST Required Remediation Reserve Amount is on deposit in the Existing UST Required Remediation Reserve Account, either from amounts deposited in accordance with Section 8.5(b) or from Borrower otherwise depositing such amounts directly.

Triggering Event Termination means the earlier to occur of (i) if the most recent Triggering Event was a Default Trigger (and provided that no other Triggering Event has occurred), Borrower's cure of such Event of Default and Lender's acceptance of such cure, within Lender's sole discretion, prior to Lender accelerating the Debt and exercising its remedies under the Loan Documents and (ii) if the most recent Triggering Event was a DSCR Trigger (and provided that no other Triggering Event has occurred), the Debt Service Coverage Ratio for the Property, as calculated by Lender in its reasonable discretion, for the two (2) consecutive calendar quarters immediately preceding such calculation equals or exceeds 1.

Examples of Triggering Event Termination in a sentence

These approval provisions will then apply until a Triggering Event Termination.
From and after the occurrence of a Triggering Event and until a Triggering Event Termination, such Annual Budget shall be subject to Administrative Agent’s written approval (each such Annual Budget, after it has been approved in writing by the Administrative Agent shall be hereinafter referred to as an “Approved Annual Budget”).
At the Borrower’s request, Administrative Agent agrees to promptly deliver notice to the Property Account Bank and Borrower that a Triggering Event Termination has occurred, upon Administrative Agent having received such information as would allow it to determine the same.
Upon an Extended Triggering Event Termination, Administrative Agent shall disburse all sums in the Escrow Fund to an account designated by Borrower in writing and any obligation to make any payment under this Section 9.15 shall terminate, subject to such obligations again arising if a subsequent Triggering Event shall have occurred and be continuing.
From and after the occurrence of a Triggering Event and until a Triggering Event Termination, such Annual Budget shall be subject to Lender’s written approval (each such Annual Budget, after it has been approved in writing by the Lender shall be hereinafter referred to as an “Approved Annual Budget”).
Prior to a Extended Triggering Event Termination, all sums deposited in the Sweep Account shall remain on deposit therein as additional security for the payment of the Loan and payment and performance of all of Borrower’s obligations under the Loan Documents.
Within five (5) Business Days of Borrower's request following the occurrence of a Triggering Event Termination, Lender shall deliver written notice to the Clearing Account Bank to comply with all instructions of Borrower pertaining to the Clearing Account, and following the provision of such notice to the Clearing Account Bank, and until a subsequent Triggering Event shall occur, the provisions of clause (i) of the first sentence of this Section shall apply.
In the case of termination of the Merger Agreement by Gilead pursuant to the Triggering Event Termination Right, the fee referred to in the preceding sentence must be paid by Triangle within two business days after such termination; and in the case of termination of the Merger Agreement by Triangle pursuant to the Superior Offer Termination Right, the fee referred to in the preceding sentence must be paid by Triangle at or prior to the time of such termination.
Event Triggering Option Termination Maximum Time to Exercise After Triggering Event* Termination as Service Provider (except as provided below) 3 months Termination as Service Provider due to Disability 12 months Termination as Service Provider due to death 12 months *The Option may only be exercised as to Shares that have vested as of the date of the Participant’s termination as a Service Provider and in no event may the Option be exercised after the Expiration Date.
Event Triggering Maximum Time to Exercise Termination of Option: After Triggering Event***: Termination of Service for cause None Termination of Service due to Disability 1 year Termination of Service due to death Expiration Date Termination of Service due to Retirement**** Expiration Date All other Terminations of Service 3 months *** However, in no event may this option be exercised after the Expiration Date.

More Definitions of Triggering Event Termination

Triggering Event Termination means respect to each Triggering Event, that a tenant acceptable to Lender shall have taken occupancy, be paying full base rent and be conducting normal business operations in the entire premises covered by the related Designated Lease pursuant to a Lease acceptable to Lender having a term of not less than five (5) years.

Triggering Event Termination means, with respect to any Triggering Event Period, the earliest to occur of: (a) if such Triggering Event was triggered by an Event of Default, Borrower’s cure of such Event of Default and Lender’s acceptance of such cure, (b) if such Triggering Event was triggered by a Debt Service Coverage Ratio calculation, the occurrence of the Debt Service Coverage Ratio being at least 1.30 to 1.00 for one (1) calendar quarter; provided, however, that any such Triggering Event Termination shall be subject to the condition that no Event of Default shall have occurred and be continuing.

Triggering Event Termination means, provided that there shall be no Default, with respect to a Triggering Event, such time as the DSCR has been restored to a level above the Minimum DSCR and the DSCR(Mortgage) has been restored to a level above the Minimum DSCR (Mortgage), in each case for at least one calendar quarter following the occurrence of a Triggering Event; provided, that the requirement for a calendar quarter of DSCR above the applicable Minimum DSCR pursuant to this clause shall not apply if (A) the amount of cash or Letter of Credit or Sweep Guaranty delivered to Administrative Agent as security for the Loan following the related DSCR Event in accordance with Section 9.13(b) hereof or (B) permitted partial prepayment of principal made by Borrower following the related DSCR Event, in each case, increases the DSCR to above the applicable Minimum DSCR and the DSCR (Mortgage) to above the applicable Minimum DSCR (Mortgage) for the calendar quarter preceding the date of the delivery of such security or making of such prepayment (for such purposes determined as if the amount of the Loan had been reduced by the amount of such security or prepayment at the beginning of such quarter period, in which event the Triggering Event Termination shall be deemed to have occurred immediately upon the delivery of such security or the making of such prepayment).

Triggering Event Termination means, provided that there shall be no Default, with respect to a Triggering Event, such time as the DSCR has been restored to a level above the Minimum DSCR for at least one calendar quarter following the occurrence of a Triggering Event; provided, that the requirement for a calendar quarter of DSCR above the applicable Minimum DSCR pursuant to this clause shall not apply if (A) the amount of cash or Letter of Credit or Sweep Guaranty delivered to Administrative Agent as security for the Loan following the related DSCR Event in accordance with Section 9.13(b) hereof or (B) permitted partial prepayment of principal made by Borrower following the related DSCR Event, in each case, increases the DSCR to above the applicable Minimum DSCR for the calendar quarter preceding the date of the delivery of such security or making of such prepayment (for such purposes determined as if the amount of the Loan had been reduced by the amount of such security or prepayment at the beginning of such quarter period, in which event the Triggering Event Termination shall be deemed to have occurred immediately upon the delivery of such security or the making of such prepayment).

Triggering Event Termination shall occur at such time as the Debt Service Coverage Ratio for the Property has been restored to a level above 1.35:1.00 for at least two (2) consecutive calendar quarters.

Triggering Event Termination means the Borrower maintaining Availability in excess of $5,000,000 for 5 consecutive Business Days following the occurrence of an Initial Triggering Event, but prior to the occurrence of a Covenant Enforcement Period in respect of such Initial Triggering Event.