Cash Management Termination Event definition

Cash Management Termination Event means the Debt Service Coverage Ratio shall be equal to or greater than 1.35 to 1.0 for two (2) complete, consecutive calendar quarters following the calendar quarter in which the Cash Management Trigger caused by a Debt Service Coverage Ratio deficiency occurred, PROVIDED, HOWEVER, there shall not be more than two (2) Cash Management Termination Events during the term of the Loan.
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Cash Management Termination Event means that Lender has accepted in writing Borrower’s cure of the Event of Default which was the basis for the occurrence of the Restrictive Condition (it being understood that this provision does not, and is not intended to, create or impose any obligation on Lender’s part to accept such cure), and there shall not then exist any other Event of Default, provided, however, that under no circumstances shall there be more than two (2) Cash Management Termination Events during the term of the Loan.
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Cash Management Termination Event means the occurrence of any of the following: (a) with respect to the Cash Management Event commencing on the Closing Date, Administrative Agent shall have determined that the Debt Yield is at least five and seventy-five hundredths percent (5.75%); (b) if the related Cash Management Event occurred as a result of an Event of Default, such Event of Default shall no longer exist (without implying that Borrower has a right to cure an Event of Default), no other Event of Default then exists, and Administrative Agent shall not have otherwise accelerated the Loan, moved for a receiver or commenced foreclosure proceedings; (c) in the event that the related Cash Management Event occurred as a result of a Bankruptcy Action, (i) the emergence of the applicable Person from bankruptcy with no material adverse consequence to the Property (unless same shall have been cured in full) or the Loan, as reasonably determined by Administrative Agent, (ii) if the Bankruptcy Action relates to a Manager, the emergence of the applicable Person from bankruptcy with no material adverse consequence to the Property or the Loan (unless same shall have been cured in full), or the replacement of such Manager with a Qualified Manager in accordance with the terms and conditions of this Agreement, or (iii) if the Bankruptcy Action relates to Guarantor, the emergence of the applicable Person from bankruptcy with no material adverse consequence to the Property or the Loan (unless same shall have been cured in full) or the replacement of Guarantor with an Approved Replacement Guarantor in accordance with the terms and conditions of this Agreement; and (d) with respect to the Cash Management Event described in clause (d) of the definition thereof occurring after the Closing Date, but for the avoidance of doubt, without limiting clause (a) above, Administrative Agent shall have determined that the Debt Yield is (i) prior to the Initial Maturity Date, at least five and seventy-five hundredths percent (5.75%) for two (2) consecutive full calendar quarters, or (ii) during any Extension Period, at least six percent (6.0%) for two (2) consecutive full calendar quarters; and (d) with respect to the Cash Management Event described in clause (e) of the definition thereof, the receipt by Administrative Agent of a Mezzanine Loan Event of Default Revocation Notice.
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Examples of Cash Management Termination Event in a sentence

  • Upon the occurrence of a Cash Management Termination Event with respect to any Cash Management Period, any amounts remaining in the Excess Cash Flow Reserve Account shall be released to Borrower.

  • Upon the occurrence of a Cash Management Termination Event, the balance of the funds in the Lockbox Account shall be distributed to Borrower.

  • Upon the earlier of (i) repayment of the Debt and (ii) a Cash Management Termination Event, the balance of the funds in the Lockbox Account shall be distributed to Borrower.

  • Funds remaining in the Lockbox Account after payment of the foregoing (the "EXCESS CASH FLOW") shall be distributed to Borrower; PROVIDED, HOWEVER, upon the occurrence of a Cash Management Trigger and until the occurrence of a Cash Management Termination Event, such Excess Cash Flow shall be distributed to Borrower only to the extent of unbudgeted operating expenses approved by Lender and any remaining funds shall remain in such Lockbox Account as additional collateral for the Loan.

  • Funds remaining in the Lockbox Account after payment of the foregoing (the “Excess Cash Flow”) shall be distributed to Borrower; provided, however, upon the occurrence of a Cash Management Trigger and until the occurrence of a Cash Management Termination Event, such Excess Cash Flow shall be distributed to Borrower only to the extent of unbudgeted operating expenses approved by Lender and any remaining funds shall remain in such Lockbox Account as additional collateral for the Loan.

  • Otherwise, Seller is not responsible for laws, regulations, or standards that apply to Buyer’s (or end user’s, if different from Buyer) facility, equipment, process, information system, or data.

  • The fact that an employee may disagree with a decision made by his or her bargaining agent does not, standing alone, provide a foundation for a section 20 complaint.

  • Funds remaining in the Lockbox Account after payment of the foregoing (the "EXCESS CASH FLOW") shall be distributed to Borrower; PROVIDED, HOWEVER, upon the occurrence of a Cash Management Trigger and until the occurrence of a Cash Management Termination Event, such Excess Cash Flow shall be distributed to Borrower only to the extent of operating expenses approved by Lender and any remaining funds shall remain in such Lockbox Account as additional collateral for the Loan.

  • The introduction of secondary and a primary school choirs along with piano lessons has supported the further development of music within the curriculum.

  • Likewise, the Committee determined that the Postal Bank should be required to issue a debit card to anyone who requests it and to allow opening a suitable account for that.


More Definitions of Cash Management Termination Event

Cash Management Termination Event means (a) if the Cash Management Trigger relates solely to clause (i) of the definition thereof, the Event of Default shall have been cured, and Lender shall have accepted such cure, provided that Lender has not otherwise accelerated the Loan, moved for a receiver or commenced foreclosure proceedings; (b) if the Cash Management Trigger relates solely to the bankruptcy or insolvency of the Manager, the dismissal of such bankruptcy without adverse consequences to the Loan or the Property, or the replacement of the Manager with a Qualifying Manager satisfactory to Lender in Lender’s reasonable discretion pursuant to a property management agreement satisfactory to Lender in Lender’s reasonable discretion, no later than thirty (30) days after the date on which Manager filed for bankruptcy or on which insolvency proceeding were initiated; (c) if the Cash Management Trigger relates solely to the bankruptcy or insolvency of the Anchor Tenant, the releasing of the entire Property to one or more replacement tenants satisfactory to Lender in Lender’s reasonable discretion pursuant to one or more replacement leases, each at an average rental rate not less than the greater of market rate and the rate paid by Anchor Tenant under the Anchor Tenant Lease at the time of such Cash Management Trigger, and Lender shall have received an estoppel letter from such replacement tenant confirming, among other things, that such tenant has taken occupancy of its demised premises and commenced payment of rent; (d) if the Cash Management Trigger relates solely to the bankruptcy or insolvency of the Anchor Lease Guarantor, the Anchor Lease Guarantor is replaced with a lease guarantor acceptable to Lender in its sole discretion within thirty (30) days after notice of such Cash Management Trigger; (e) if the Cash Management Trigger relates solely to the credit rating of Anchor Lease Guarantor falling below investment grade, the restoration and maintaining of an investment grade rating by each Rating Agency for twelve (12) consecutive calendar months; or (f), if the Cash Management Trigger relates solely to clause (iv) of the definition thereof, the releasing of the entire Property to one or more replacement tenants satisfactory to Lender in Lender’s reasonable discretion pursuant to one or more replacement leases, each at an average rental rate not less than the greater of market rate and the rate paid by Anchor Tenant under the Anchor Tenant Lease at the time of such Cash Management Trig...
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Cash Management Termination Event means (i) if the most recent Cash Management Period was caused by the circumstances described in clause (i) of the definition of “Triggering Event”, Borrower’s cure and the acceptance of such cure by Lender of the Event of Default which caused such Triggering Event, (ii) if the most recent Cash Management Period was caused by the circumstances described in clause (ii) of the definition of “Triggering Event”, Mezzanine A Borrower’s cure and the acceptance of such cure by Mezzanine A Lender of the Mezzanine A Event of Default which caused such Triggering Event, or (iii) if the most recent Cash Management Period was caused by the circumstances described in clause (iii) of the definition of “Triggering Event”, at any time the Debt Service Coverage Ratio is equal to or greater than 1.10 to 1.00 for three (3) consecutive Monthly Reporting Periods; provided, however, that the Cash Management Termination Event shall not be deemed to have occurred if more than two (2) Triggering Events have occurred during the term of the Loan, it being understood that following the occurrence of the third Triggering Event, the Cash Management Period shall exist for the remaining term of the Loan.
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Cash Management Termination Event means (a) in the case of a Cash Management Trigger pursuant to clause (ii) of the definition of such term, the Debt Service Coverage Ratio shall be equal to or greater than 1.25 to l.0 for two (2) complete, consecutive calendar quarters following the calendar quarter in which the Cash Management Trigger occurred, provided, however, there shall be no Cash Management Termination Event following a Cash Management Trigger caused by clause (i) of the definition of such term, and there shall not be more than two (2) Cash Management Termination Events during the term of the Loan.
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Cash Management Termination Event means the occurrence of any of the following: (a) in the event the related Cash Management Event occurred as a result of an Event of Default, such Event of Default shall no longer exist (without implying that Borrower has a right to cure an Event of Default), no other Default or Event of Default then exists, and Lender shall not have otherwise accelerated the Mortgage Loan, moved for a receiver, commenced foreclosure proceedings, or otherwise begun and not ceased exercising remedies; (b) (i) in the event that the related Cash Management Event occurred as a result of a Bankruptcy Action relating to Mortgage Borrower or Guarantor, such Bankruptcy Action no longer exists and there has been no unremedied Material Adverse Effect as a result thereof, as reasonably
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Cash Management Termination Event means (a) in the event the Cash Management Trigger is caused by (ii) of the Cash Management Trigger definition, Borrower has cured such Event of Default to the reasonable satisfaction of Lender, or (b) in the event the Cash Management Trigger is caused by (iv) of the Cash Management Trigger definition, (x) if the Tenant resumes operating its business at the Property or (y) Lender’s receipt of (a) one or more new leases entered into in accordance with the terms of this Agreement (the “New Leases”) with one or more tenants reasonably acceptable to Lender (the “New Tenants”) pursuant to which the New Tenants have leased space for a term which is at least as long as the remaining term of the Academy Lease if the Academy Lease was then in effect, on similar terms and at a similar rent as provided for in the Academy Lease and (b) tenant estoppels reasonably acceptable to Lender from the New Tenants confirming that (i) the New Leases are in full force and effect, (ii) to the New Tenants’ knowledge, neither Borrower nor the New Tenants are in default under the New Leases, (iii) the New Tenants are in occupancy of substantially all of the premises demised under the New Leases, and (iv) the New Tenants are open for business in substantially all of the premises demised under the New Leases and are paying rent without any right to offset or credit, provided, however, there shall not be more than two (2) Cash Management Termination Events during the term of the Loan.
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Cash Management Termination Event means (a) the Debt Service Coverage Ratio shall be equal to or greater than 1.35 to 1.0 for two (2) complete, consecutive calendar quarters following the calendar quarter in which the Cash Management Trigger caused by a Debt Service Coverage Ratio deficiency occurred, or (b) in the event the Cash Management Trigger is caused by (iv), (v) or (vi) of Cash Management Trigger definition, Lender’s receipt of (a) one or more new leases entered into in accordance with the terms of this Agreement (the “New Leases”) with Lockheed or Cisco, as applicable, or one or more tenants reasonably acceptable to Lender (the “New Tenants”) pursuant to which Lockheed, Cisco and/or the New Tenants have leased space within the Lockheed Premises, Lockheed 300 Premises or Cisco Premises, as applicable for a term of at least five (5) years beyond the expiration date of the Lockheed Lease Suite 500 & 600, Lockheed Lease Suite 300 or Cisco Lease, as applicable, on similar terms and at a similar rent as provided for in the extension option section of the Lockheed Lease Suite 500 & 600, Lockheed Lease Suite 300 or Cisco Lease, as applicable and (b) tenant estoppels reasonably acceptable to Lender from Lockheed, Cisco and/or the New Tenants confirming that (i) the New Leases are in full force and effect, (ii) to Lockheed’s, Cisco’s or the New Tenants’ knowledge, as applicable, neither Borrower nor Lockheed, Cisco or the New Tenants, as applicable, are in default under the New Leases, (iii) Lockheed, Cisco and/or the New Tenants, as applicable, are in occupancy of substantially all of the premises demised under the New Leases, and (iv) Lockheed, Cisco or the New Tenants, as applicable, are open for business in substantially all of the premises demised under the New Leases and are paying rent without any right to offset or credit, provided, however, there shall not be more than two (2) Cash Management Termination Events during the term of the Loan.
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Related to Cash Management Termination Event

  • Swap Termination Event means the occurrence of a “Termination Event” under the Swap Agreement, as defined in the Swap Agreement.]

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Servicer Event of Termination One or more of the events described in Section 7.01.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Servicer Termination Events (or any analogous term under the Lead Securitization Servicing Agreement) include customary market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one business day grace period), failure to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account, failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Company Termination Event means any of the following:

  • Agreement Termination Date is defined in Section 7.4.

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Event of Termination has the meaning specified in Section 7.01.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Early Termination Event has the meaning specified in Section 9.2.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Potential Termination Event means an event which, with the giving of notice and/or the lapse of time, would constitute a Termination Event.

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.