Examples of Cash Trap Condition in a sentence
The existence of a Cash Trap Condition shall be a reasonable determination made by Lender in good faith.
Prior to the commencement of an Amortization Period or a Post-ARD Period, if such Cash Trap Condition ceases to exist and if no Event of Default has occurred and is continuing, any funds then on deposit in the Cash Trap Reserve Account shall be released to the Issuer.
So long as no Event of Default exists, a Cash Trap Condition occurring due to a Debt Service Coverage Ratio of less than the Minimum DSCR Threshold shall be deemed cured if the Properties achieve a Debt Service Coverage Ratio of not less than the Minimum DSCR Ratio for two consecutive Calendar Quarters after the occurrence of the Cash Trap Condition, measured at the end of each such two consecutive Calendar Quarters (each a “Cash Trap Cure”).
Despite the efforts by MONUA, the situation in Angola deteriorated.
Prior to the occurrence of a Cash Trap Condition, Borrower shall be permitted pursuant to the Clearing Account Agreement to access and direct the withdrawal and disposition of funds in the Clearing Account.