Cash Trap Sample Clauses

Cash Trap. (a) The occurrence of any of the following shall constitute a “Cash Trap Event”:
Sample 1
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Cash Trap. 19.2.1 In the event that the ratio of Net Operating Income and Management Borrower Operating Income to Debt Service as calculated under clause 19.1 is below 1.40 on two consecutive Payment Dates, then a Cash Trap Event will be deemed to have occurred and shall be deemed to be continuing until such time as two consecutive Payment Dates have passed on which the calculation under clause 19.1 demonstrates that Net Operating Income to Debt Service exceeds 1.40.
Sample 1
Cash Trap. The Lender shall be entitled to revoke the right of the Borrower to use the Rent Receipt Account and the Operating Account, if a Cash Trap Event has occurred and is continuing. The Rent Receipt Account and the Operating Account may then only be used by the Borrower from such time onwards with the express consent of the Lender. The Lender shall grant its consent to the Borrower using the Rent Receipt Account and the Operating Account, if the Borrower proves by way of appropriate documentation, that such use is necessary to settle due costs, fees and expenses or other liabilities pursuant to Section 14.2.3 nos. 1-9 (Rent Receipt Account).
Sample 1
Cash Trap. Beginning on the first Payment Date following the occurrence of a Cash Management Period, and on each Payment Date during the continuation of a Cash Management Period, Lender shall retain all cash flow from the Property in the Cash Trap Reserve Account. Provided no Event of Default has occurred and is continuing, funds in the Cash Trap Reserve Account will be utilized by Lender to fund any shortfalls in payments required to be made by Borrower to Lender hereunder. Upon the termination of the Cash Management Period, all amounts in the Cash Trap Reserve Account shall be released to Borrower.
Sample 1
Cash Trap. Buyer shall hold funds paid to it pursuant to Section 2.5(c)(vii) as additional security for Customer’s Obligation. If the Potential Termination Event in question shall cease to exist and no Termination Event or other Potential Termination Event shall then exist, Buyer will disburse the amount so held to Customer and if a Termination Event shall occur or exist, all funds paid pursuant to Section 2.5(c)(vii) will be applied to Customer’s Obligations as determined by Buyer, in its sole discretion.
Sample 1

Related to Cash Trap

  • Cash Transactions 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a 3rd party will be charged $[ ].

  • Cash Any U.S. dollars available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion thereof authorized in this paragraph (10) ("Cash"), on an averaged or other practicable basis, subject to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to certain Holders, and (iii) deduction of the Depositary's expenses in (1) converting any foreign currency to U.S. dollars by sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion may be made on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the Depositary may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner. (b)

  • Cash in Lieu The Trust may, in its sole discretion (except to the extent limited, if at all, by ETF Exemptive Relief), permit or require the substitution of an amount of cash to be added to any Cash Balancing Amount to replace any Redemption Instrument (“cash in lieu”).

  • Change in Control Payment The provisions of this Section 5 set forth certain terms of an agreement reached between the Executive and the Company regarding the Executive’s rights and obligations upon the occurrence of a Change in Control of the Company. These provisions are intended to assure and encourage in advance the Executive’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such event. These provisions shall apply in lieu of, and expressly supersede, the provisions of Section 4(b) regarding severance pay and benefits upon a termination of employment, if such termination of employment occurs within 12 months after the occurrence of the first event constituting a Change in Control. These provisions shall terminate and be of no further force or effect beginning 12 months after the occurrence of a Change in Control.

  • Change of Control Payment “Change of Control Payment” is defined in Section 3.9(a)(vii) of the Agreement.

  • ACH Transactions For ATM and one-time debit card transactions, you must affirmatively consent to such coverage. Without your consent, the Credit Union may not authorize and pay an ATM or one-time debit card transaction that will result in insufficient funds in your account. If you have established a service linking your share or deposit account with other individual or joint accounts, you authorize us to transfer funds from other another account of yours to cover an insufficient item, including transfers from a share or deposit account, an overdraft line-of-credit account, or other account you so designate. Services and fees for these transactions are shown in the document the Credit Union uses to capture your affirmative consent and the Schedule of Fees and Charges. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay such items that result in an insufficiency of funds in your account, we do not agree to pay them in the future and may discontinue coverage at any time without notice. If we pay these items or impose a fee that results in insufficient funds in your account, you agree to pay the insufficient amount, including the fee assessed by us, in accordance with our standard overdraft services or any other service you may have authorized with us, or if you do not have such protections with us, in accordance with any overdraft payment policy we have, as applicable.

  • Cash Deposit No cash will be deposited into the certificate account on the closing date.

  • Trigger Event A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events:

  • Change in Control Payments The provisions of this paragraph 8 set forth the terms of an agreement reached between Employee and the Company regarding Employee’s rights and obligations upon the occurrence of a “Change in Control” (as hereinafter defined) of the Company during the Term. These provisions are intended to assure and encourage in advance Employee’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such Change in Control. The following provisions shall apply in the event of a Change in Control, in addition to any payment or benefit that may be required pursuant to Section 7.

  • Collateral Event In the event that either (a) the Advisor does not make the Fund Reimbursement Payment due in connection with a particular calendar month by the tenth day of the following calendar month or (b) the Board enacts a resolution calling for the liquidation of the Fund (either (a) or (b), a “Collateral Event”), then, in either event, the Board shall have absolute discretion to redeem any shares or other Collateral held in the Collateral Account and utilize the proceeds from such redemptions or such other Collateral to make any required Fund Reimbursement Payment, or to cover any costs or expenses which the Board, in its sole and absolute discretion, estimates will be required in connection with the liquidation of the Fund (the “Liquidation Expenses”). Pursuant to the terms of Paragraph 6 of this Agreement, upon authorization from the Board, but subject to the provisions of the Control Agreement, no further instructions shall be required from the Advisor for the Securities Intermediary to transfer any Collateral from the Collateral Account to the Fund. The Advisor acknowledges that in the event the Collateral available in the Collateral Account is insufficient to cover the full cost of any Fund Reimbursement Payment or Liquidation Expenses, the Fund shall retain the right to receive from the Advisor any costs in excess of the value of the Collateral.

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