Cash Management Trigger Event Period definition

Cash Management Trigger Event Period means any period commencing on the occurrence of a Cash Management Trigger Event and continuing until the earlier of (i) the Monthly Payment Date following the occurrence of the applicable Cash Management Trigger Event Cure or (ii) the payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents in accordance with the terms and provisions of the Loan Documents.
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Cash Management Trigger Event Period means any period commencing on the occurrence of a Cash Management Trigger Event and continuing until the earlier of (i) the Monthly Payment Date following the occurrence of a Cash Management Trigger Event Cure as reasonably determined by Lender or (ii) the payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents in accordance with the terms and provisions of the Loan Documents.
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Cash Management Trigger Event Period means any period commencing on the occurrence of an Event of Default and continuing until the cure of any and all Events of Default, (ii) the term “Cash Management Activation Notice” shall mean a written notice from Lender or its servicer to the Deposit Bank stating that a Cash Management Trigger Event Period has commenced and instructing the Deposit Bank to transfer all available funds in the Deposit Account to the Cash Management Account in accordance with the Deposit Account Agreement, and (iii) the term “Cash Management Deactivation Notice” shall mean a written notice from Lender or its servicer to the Deposit Bank stating that a Cash Management Trigger Event Period no longer exists and instructing the Deposit Bank to transfer all available funds in the Deposit Account to an account designated by Borrower in accordance with the Deposit Account Agreement.
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Examples of Cash Management Trigger Event Period in a sentence

  • Provided that no Cash Management Trigger Event Period is then in effect, Clearing Bank shall disburse all funds in the Clearing Account to Borrower in accordance with the Clearing Account Agreement.

  • Each Junior Lender shall have the right to give notice to Senior Lender that such Junior Lender has determined, in its reasonable judgment made in accordance with the terms of the Senior Loan Documents, that a Cash Management Trigger Event Period or a Cash Sweep Trigger Event Period is in effect or that a Cash Management Trigger Event Period or a Cash Sweep Trigger Event Cure has not occurred, provided that no such determination shall be binding on Senior Lender’s determination thereof.

  • If (x) a Cash Sweep Event then exists, Lender shall deposit any such released PIP Funds into the Excess Cash Flow Account, (y) no Cash Sweep Event then exists but a Cash Management Trigger Event then exists, Lender shall deposit any such released PIP Funds into the Cash Management Account to be applied in accordance with Section 2.7.2 hereof or (z) no Cash Management Trigger Event Period is then in effect, Lender shall disburse any such released PIP Funds to Borrower.

  • Upon the termination of a Cash Management Trigger Event Period, Lender shall release the Excess Cash Flow to Borrower.

  • Borrower hereby authorizes Lender to, upon the first occurrence of a Cash Management Trigger Event Period, deliver the Rent Direction Letter to Manager and Borrower shall otherwise cause all Rents and Profits to be delivered to the Deposit Account within one (1) business day of receipt of same by Borrower (including by directing credit card banks and credit card companies with which Borrower or Manager has entered into agreements for the clearance of credit card receipts).

  • At least one (1) Business Day prior to each Monthly Payment Date during a Cash Management Trigger Event Period, Lender or Designee shall deliver to Cash Management Bank an allocation letter with instructions regarding the disbursement of funds on deposit in the Cash Management Account (“Allocation Letter”).

  • During a Cash Management Trigger Event Period, Lender and Servicer shall have the sole right to make withdrawals from the Clearing Account.

  • Notwithstanding anything to the contrary contained herein or in any other Loan Documents, in the event Borrower or Manager shall receive any amounts constituting Rents and Profits during a Cash Management Trigger Event Period, Borrower shall, and shall cause Manager to, deposit all such amounts received by Borrower or Manager into the Deposit Account within one (1) Business Day after receipt thereof.