Equity Contribution Cures Sample Clauses

Equity Contribution Cures. Between the Series 2025-1 Closing Date and the Rated Final Payment Date for any Series of Notes Outstanding, any Obligor, acting at the direction of the Manager, (i) may designate cash capital contributions made to such Obligor during such period (each such cash capital contribution designated by such Obligor, a “Equity Cash Contribution Cure”; and the amount of any such Equity Contribution Cure, an “Equity Cash Contribution Cure Amount”) for deposit to the Collections Account for application in the order set forth in Section 5.01 on any Payment Date or for other applications permitted under the Indenture and designate such Equity Cash Contribution Cure Amount as part of TTM Adjusted Net Operating Income or (ii) may designate capital contributions of Additional Parking Facilities or Additional Obligor Parking Facilities made to such Obligor during such period (each such capital contribution designated by such Obligor, an “Equity Asset Contribution Cure”; and the Valuation of any such Equity Asset Contribution Cure, an “Equity Asset Contribution Cure Value”) and designate such Equity Asset Contribution Cure Value as part of TTM Adjusted Net Operating Income; provided that (A) any such Equity Contribution Cure Amount (or portion thereof) designated as part of TTM Adjusted Net Operating Income shall remain designated as part of TTM Adjusted Net Operating Income until the earlier of (x) the day immediately prior to the one-year anniversary of such designation and (y) solely with respect to any Equity Cash Contribution Cure Amounts, the first day on which such amounts (or portion thereof) are no longer on deposit in the Collections Account, (B) the aggregate amount of all Equity Contribution Cure Amounts shall not exceed 15% of the aggregate principal amount of all Notes issued under this Base Indenture, (C) Equity Contribution Cures shall not be made more frequently than twice in any calendar year and (D) Equity Contribution Cures shall not be made more than five times after the Series 2025-1 Closing Date. In addition, the Issuer, acting at the direction of the Manager, may receive capital contributions from time to time that it does not designate as Equity Contribution Cures, and such contributions may be used to fund the purchase of Additional Parking Facilities or Additional Obligor Parking Facilities. Any Obligor may also accept the contribution of a Deferred Additional Parking Facility at any time without limitation of any conditions otherwise applicable ...