Common use of DSCR Failure Clause in Contracts

DSCR Failure. In the event that the Administrative Agent determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Borrower, the Guarantor, and the Facility Agent. During the occurrence and continuance of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.

DSCR Failure. In the event that the Administrative Agent Cash Manager determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the BorrowerIssuer, the Guarantor, the Administrative Agent, the Trustees, the Pass Through Trustee, the Policy Provider and the Facility AgentRating Agencies. During Following the occurrence and continuance of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.

DSCR Failure. In the event that the Administrative Agent Cash Manager determines, in accordance with Section 3.06(c3.07(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the BorrowerIssuer, the GuarantorTrustee, the Policy Provider and the Facility AgentRating Agencies. During In the occurrence and continuance of event that a DSCR FailureFailure has occurred and is continuing, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b3.09(b) hereof.