Applicable LTV Trigger definition

Applicable LTV Trigger means, as of any date of determination, (a) during the Revolving Period, 70% and (b) at any point after the expiration of the Revolving Period, the percentage set forth in the table below corresponding to the Total Obligors as of such date: Total Obligors Applicable LTV Trigger More than 20 65% 15-20 50% 10-14 40% Less than 10 0%
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Applicable LTV Trigger means, as of any date of determination, (a) during the Revolving Period, 65% and (b) at any point after the expiration of the Revolving Period, either (i) the percentage set forth in Table 1 below corresponding to the Total Obligors or (ii) the percentage set forth in Table 2 below corresponding to the number of years that have elapsed since the Closing Date, in each case, as of such date: Table 1: Total Obligors Applicable LTV Trigger Additional Lender Paydown Percentage More than 20 60% 10% 15 – 20 45% 35% 10 – 15 30% 70% Less than 10 0% 100% Table 2: Years since Closing Date Applicable LTV Trigger Additional Lender Paydown Percentage Beginning of Year 4 to end of Year 5 60% 10% Year 6 45% 35% Year 7 30% 70% Beginning of Year 8 to Maturity Date 0% 100% ; provided that, if the two tables above would yield different results, then the applicable percentage shall be the lower Applicable LTV Trigger and the higher Additional Lender Paydown Percentage.
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Related to Applicable LTV Trigger

  • 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.

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

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

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

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

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

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

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

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