Cash Flow Sweep Event definition

Cash Flow Sweep Event means_______________________.]

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Cash Flow Sweep Event shall have the meaning set forth in the Loan Agreement.

Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than seven percent (7.0%) or (ii) Debt Service Coverage is less than 1.05:1, (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one half percent (7.50%) or (ii) Debt Service Coverage is less than 1.10:1, (c) during the third Loan Year (i) Cash on Cash Return is less than eight percent (8.0%) or (ii) Debt Service Coverage is less than 1.20:1, (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one quarter percent (8.25%) or (ii) Debt Service Coverage is less than 1.25:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and one half percent (8.50%) and (ii) Debt Service Coverage is less than 1.30:1.

Examples of Cash Flow Sweep Event in a sentence

If Lender determines that a Cash Flow Sweep Event has occurred, Lender shall send Borrower written notice thereof together, in the case of clause (i) above, with Lender's calculations supporting such determination.
If at any time during a Cash Flow Sweep Event, the amount of the available funds in the Accounts is insufficient to make all of the disbursements described in subsections (a)(i) through [(viii)], inclusive, Borrower shall promptly deposit into the Collections Account, without the need for any notice or demand from Lender, the amount of such deficiency in immediately available funds.
If a Cash Flow Sweep Event shall have occurred and is continuing, any Re-Tenanting Funds remaining after the Approved Replacement Lease Start Date for all Approved Replacement Leases covering the entire premises, 36942122.8 shall be held in the Master Disbursement Sweep Account and disbursed in accordance with the Cash Management Agreement.
Prior to the occurrence of a Cash Flow Sweep Event, and provided no Event of Default exists, Lender shall direct Depository Bank to transfer funds in the Collections Account on a daily basis to the Operating Account.
If, at any time prior --------------------------------------------- to the repayment of the Obligations in full, a Cash Flow Sweep Event shall occur, then, from and after the occurrence of such Cash Flow Sweep Event and for so long as such Cash Flow Sweep Event continues to exist, pursuant to the Cash Management Agreement all Excess Cash Flow shall be deposited in the Cash Flow Sweep Sub-Account.
During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds.
During a Cash Flow Sweep Event, no amounts whatsoever shall be paid to the Advisor or its Affiliates under the Advisory Agreement or otherwise.
Upon the occurrence of a Cash Flow Sweep Event, control over funds in the Collections Account shall shift to Lender and funds in the Collections Account shall be directed to the Master Disbursement Sweep Account and applied in accordance with the terms of the Cash Management Agreement.
The existence of a Cash Flow Sweep Event shall be determined by Lender in its sole good faith determination.
During a Cash Flow Sweep Event, no amounts whatsoever shall be paid, distributed or otherwise made to the Advisor or its Affiliates under the Advisory Agreement, the Partnership Agreement or otherwise.

More Definitions of Cash Flow Sweep Event

Cash Flow Sweep Event shall occur (i) as of any Sweep --------------------- Event Determination Date when (a) the Cash Flow Sweep DSCR as of the immediately prior Calculation Date is less than 1.50:1 (the "Minimum Cash Flow Sweep DSCR") ---------------------------- or (b) the Cash Flow Sweep LCR as of the immediately prior Calculation Date is less than 1.0:1 (the "Minimum Cash Flow Sweep LCR"), and shall continue to exist --------------------------- until the Minimum Cash Flow Sweep DSCR test and Minimum Cash Flow Sweep LCR test referred to in the foregoing clauses (a) and (b), respectively, have each been satisfied as of any subsequent Sweep Event Determination Date or (ii) upon the existence or occurrence of a Proceeds Release Condition on or after the date which is six (6) months prior to the Maturity Date, and shall continue to exist until Excess Cash Flow in the amount of the Released Proceeds has been deposited into the Cash Flow Sweep Sub-Account (or Borrower has made a principal prepayment on the Loan in the amount of such Released Proceeds). Notwithstanding that the Cash Flow Sweep DSCR shall be less than the Minimum Cash Flow Sweep DSCR as of any Sweep Event Determination Date, provided that the Minimum Cash Flow Sweep LCR test is satisfied, Borrower may cure such Cash Flow Sweep Event under clause (i) above by making a principal prepayment on the Loan (which prepayment amount shall be held in the Debt Service Sub-Account and applied to payment of principal on the next Payment Date (without imposition of any Prepayment Consideration)), within two (2) Business Days after the date of delivery of Lender's notice, as described below, that a Cash Flow Sweep Event has occurred, in an amount which as determined by Lender, in its sole good faith discretion, would be sufficient to cause the Cash Flow Sweep DSCR to exceed the Minimum Cash Flow Sweep DSCR if interest payable on the Loan included in determining such Cash Flow Sweep DSCR were recalculated assuming that such amount were applied to reduce the principal amount of the Loan as of the first day of the relevant Measurement Period. During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds. The existence of a Cash Flow Sweep Event shall be determined by Lender in its sole good faith determination. If Lender determines tha...

Cash Flow Sweep Event means the occurrence and continuance of (i) an Event of Default, (ii) a DSCR Trigger, or (iii) an Amazon Lease Renewal Trigger.

Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than six and six-tenths percent (6.60%) or (ii) Debt Service Coverage is less than 1.03:1; (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one-tenths percent (7.10%) or (ii) Debt Service Coverage is less than 1.05:1; (c) during the third Loan Year (i) Cash on Cash Return is less than seven and three-quarters percent (7.75%) or (ii) Debt Service Coverage is less than 1.10:1; (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one-half of one-tenth percent (8.05%) or (ii) Debt Service Coverage is less than 1.15:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and thirty-five one hundredths percent (8.35%) or (ii) Debt Service Coverage is less than 1.

Cash Flow Sweep Event has the meaning set forth in Section 2.6(C). ---------------------