Examples of DSCR Failure in a sentence
During the occurrence and continuance of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.
In the event that the Administrative Agent determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Borrower, the Guarantor, and the Facility Agent.
Following the occurrence of a DSCR Failure, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.08(b) hereof.
In the event that the Cash Manager determines, in accordance with Section 3.06(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Issuer, the Guarantor, the Administrative Agent, the Trustees, the Pass Through Trustee, the Policy Provider and the Rating Agencies.
In the event that the Cash Manager determines in accordance with the terms of the Indenture that a DSCR Failure has occurred, the Cash Manager shall inform each of the Issuer, the Trustee, the Policy Provider and the Rating Agencies that a DSCR Failure for the applicable Payment Date exists.
In the event that a DSCR Failure has occurred and is continuing, all proceeds on deposit in the Collections Account shall be applied in accordance with Section 3.09(b) hereof.
If a Minimum DSCR Failure occurs, then Borrower shall pay to Administrative Agent, for the account of Lenders, as a principal payment of the Loan, not later than sixty (60) days following the DSCR Test Date upon which such Minimum DSCR Failure occurred, the amount by which the outstanding principal balance of the Loan would be required to be reduced to cause the Maintenance DSCR Hurdle to be satisfied as of such date of payment (each, a “Remargin Payment”).
In the event that the Cash Manager determines, in accordance with Section 3.07(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Issuer, the Trustee and the Policy Provider.
In the event that the Cash Manager determines, in accordance with Section 3.07(c) hereof, that a DSCR Failure for the related Payment Date will occur, it shall provide Written Notice thereof (not later than two Business Days prior to such Payment Date) to the Issuer, the Trustee, the Policy Provider and the Rating Agencies.
If a Minimum DSCR Failure occurs, then Borrower shall pay to Administrative Agent, for the account of Lenders, as a principal payment of the Loan, not later than thirty (30) days following any June 30 or December 31 DSCR Test Date upon which such Minimum DSCR Failure occurred, the amount by which the outstanding principal balance of the Loan would be required to be reduced to cause the Property to achieve a DSCR of 1.15:1.00 as of the date of such Minimum DSCR Failure (each, a “Remargin Payment”).