Adjusted Trigger Event definition

Adjusted Trigger Event shall have occurred if, (a) as of the last day of any calendar month ending during the period from the Closing Date until, but excluding, the first anniversary of the Closing Date, the Adjusted Debt Yield is less than 11.50 % and (b) as of the last day of any calendar month ending on or after the first anniversary of the Closing Date, the Adjusted Debt Yield is less than 12.00%; provided, that an Adjusted Trigger Event shall cease to exist following an Adjusted Trigger Event Cure with respect to such Adjusted Trigger Event.
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Adjusted Trigger Event has the meaning assigned to such term in the Revolving Credit Agreement.
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Adjusted Trigger Event an “Adjusted Trigger Event” as defined in the Existing REIT Credit Facility as in effect on the Closing Date.
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Examples of Adjusted Trigger Event in a sentence

  • For the avoidance of doubt, each Lender’s Revolving Commitment shall be deemed to be in effect for purposes of this Section 2.5(a) regardless of the occurrence and continuance of a Trigger Event or an Adjusted Trigger Event except with respect to any of such Revolving Commitment that has been permanently and irrevocable terminated pursuant to the terms hereof.

  • No Default, Event of Default, Trigger Event or Adjusted Trigger Event shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date.

  • After the occurrence and during the continuation of a Trigger Event or Adjusted Trigger Event, the Borrower shall cause each of the Group Members to make the maximum amount of cash distributions to its respective parent entity that it is not prohibited from making under the terms of the Subsidiary Loan Documents directly into the Account.

  • After the occurrence and during the continuation of a Trigger Event or Adjusted Trigger Event, the Borrower shall cause each of its direct and indirect Subsidiaries to make the maximum amount of cash distributions to its respective parent entity that it is not prohibited from making under the terms of the Subsidiary Loan Documents directly into the Account.

  • No Default, Event of Default or, Trigger Event or Adjusted Trigger Event shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date.

  • The occurrence of a Trigger Event or an Adjusted Trigger Event requires ESH REIT to repay the outstanding facility balance and restricts its ability to draw additional proceeds.

  • During a Trigger Event, an Adjusted Trigger Event, a Default or an Event of Default, each as defined, ESH REIT is restricted from making cash distributions, subject to certain exceptions.

  • After the occurrence and during the continuation of a Trigger Event or an Adjusted Trigger Event, Borrower shall cause each of its direct and indirect Subsidiaries to make the maximum amount of cash distributions to its respective parent entity that it is not prohibited from making under the terms of the Mortgage Loan Documents directly into the Conditional Controlled Account.

  • No Default, Event of Default , Trigger Event or Adjusted Trigger Event shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date.

  • In order to avoid a Trigger Event or an Adjusted Trigger Event, this facility requires a Debt Yield and an Adjusted Debt Yield, each as defined, of at least 12.0%, and, to avoid an Event of Default, a Consolidated Leverage Ratio, as defined, of no more than 9.0 to 1.0 (with the requirement decreasing to no more than 8.75 to 1.0 over the life of the facility) and a Debt Yield or Adjusted Debt Yield of at least 9.0%.

Related to Adjusted Trigger Event

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

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive 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%

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

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • 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 Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • €STR Index Cessation Event means the occurrence of one or more of the following events, as determined by the Issuer and notified by the Issuer to the Calculation Agent:

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Flip-Over Event means any event described in clause (x), (y) or (z) of Section 13(a) hereof.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • ECB Recommended Rate Index Cessation Event means the occurrence of one or more of the following events:

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

  • Barrier Event means that R (final) is lower than the Barrier.

  • Relevant Event means any Termination Event, Mandatory Prepayment Event or Further Novation Event, or any event which only with the passage of time, the giving of any notice or the fulfilment of any other condition (or a combination thereof) would constitute a Termination Event, Mandatory Prepayment Event or Further Novation Event;

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • Company Triggering Event means: (i) the failure of the Board of Directors of the Company to recommend that the Company's stockholders vote to adopt this Agreement, or the withdrawal or modification of the Company Board Recommendation in a manner adverse to Parent, or the Board of Directors shall have taken any other action that is or becomes disclosed publicly or to a third party, which indicates that the Board of Directors of the Company does not support the Merger or does not believe that the Merger is in the best interests of the Company's stockholders; (ii) the Company shall have failed to include in the Proxy Statement the Company Board Recommendation or a statement to the effect that the Board of Directors of the Company has determined and believes that the Merger is in the best interests of the Company's stockholders; (iii) an Acquisition Proposal is publicly announced and the Board of Directors of the Company fails to reaffirm without qualification the Company Board Recommendation, or fails to publicly state without qualification, that the Merger is in the best interests of the Company's stockholders, within five business days after Parent requests in writing that such action be taken; (iv) the Board of Directors of the Company shall have approved, endorsed or recommended any Acquisition Proposal; (v) the Company shall have failed to comply with Section 5.04 in any material respect; (vi) a tender or exchange offer relating to securities of the Company shall have been commenced and the Company shall not have sent to its securityholders, within ten business days after the commencement of such tender or exchange offer, a statement disclosing that the Board of Directors recommends rejection of such tender or exchange offer; (vii) an Acquisition Proposal is publicly announced, and the Company fails to issue a press release announcing its opposition to such Acquisition Proposal within ten business days after such Acquisition Proposal is announced; or (viii) either the Company or any of its subsidiaries or any their Representatives shall have breached any of the provisions set forth in Section 5.04 (in any material respect) or Section 6.15.

  • Significant Event means any Amortization Event or Event of Default.

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

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

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).