Low DSCR Release Event definition

Low DSCR Release Event means, at any time after the occurrence of a Low DSCR Trigger Event, that the Debt Service Coverage Ratio shall be at or above 1:20:1.00 for a period of at least two (2) consecutive calendar quarters.
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Low DSCR Release Event means, at any time after the occurrence of a Low DSCR Trigger Event, that (a) the Debt Service Coverage Ratio shall, for two consecutive calendar or fiscal quarters, be at or above: (i) with respect to the period from the Closing Date through and including the first anniversary of the Closing Date, 1.40:1.00; and (ii) from the first day after the first anniversary of the Closing Date through and including the original Maturity Date, 1.30:1.00; or (b) in the event that Borrower exercises the option to extend the term of the Loan pursuant to Section 2.5 hereof, the Pro Forma Debt Service Coverage Ratio shall, for two consecutive calendar or fiscal quarters, be at or above 1.50:1.00.
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Low DSCR Release Event means, at any time after the occurrence of a Low DSCR Trigger Event, that either (a) Borrower has made a Low DSCR Cure Prepayment with respect to the applicable Low DSCR Trigger Event in accordance with Section 4.4, (b) Borrower has delivered a Low DSCR Cure Delivery with respect to the applicable Low DSCR Trigger Event in accordance with Section 4.4, or (c) the Debt Service Coverage Ratio, as determined as of the end of each calendar quarter, shall be at or above 1.45:1.00 for at least two (2) consecutive calendar quarters.
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Examples of Low DSCR Release Event in a sentence

  • Provided no Default or Event of Default then exists, any funds held in the Cash Trap Account shall be released to the Borrower for the account of the Borrower upon the occurrence of a Low DSCR Release Event and, in such event the Borrower shall no longer be required to cause the deposit of the subsequent Excess Cash into the Cash Trap Account unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • Provided no Event of Default has occurred and is continuing, any funds held in the Tax and Insurance Reserve Fund shall be released to Borrower upon the occurrence of a Low DSCR Release Event and, in such event Borrower shall no longer be required to cause any amounts to be deposited into the Tax and Insurance Reserve Account unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • Provided no Event of Default has occurred and is continuing, any funds held in the Ground Rent Reserve Fund shall be released to Borrower upon the occurrence of a Low DSCR Release Event and, in such event Borrower shall no longer be required to cause any amounts to be deposited into the Ground Rent Reserve Account unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • Provided no Event of Default has occurred and is continuing, any funds held in the Low DSCR Account delivered pursuant to Section 4.4(1) shall be released to Borrower upon the occurrence of a Low DSCR Release Event and, in such event Borrower shall no longer be required to cause any amounts to be deposited into the Low DSCR Account unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • Provided no Event of Default exists, any funds held in the Excess Cash Reserve Fund (after giving effect to any reductions thereof as permitted pursuant to Section 15.3(4) below) shall be released to Borrower upon the occurrence of a Low DSCR Release Event and, in such event Borrower shall no longer be required to cause the deposit of the subsequent Excess Cash into the Excess Cash Reserve Fund unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • Administrative Agent and Lenders hereby agree that upon payment of the Required Principal Payment, a Low DSCR Release Event shall have occurred.


More Definitions of Low DSCR Release Event

Low DSCR Release Event set forth in Section 1.1(109) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
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Related to Low DSCR Release Event

  • Release Event has the meaning set forth in Section 6(b).

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Release Amount has the meaning set forth in Section 4.3(f).

  • Cooling Off Period means the duration of time counted from the date when the direct seller and the direct selling entity enter into an agreement and ending with the date on which the contract is to be performed and within which direct seller may repudiate the agreement without being subject to penalty for breach of contract.

  • Delivery Period Termination Date Has the meaning specified in the Related Pass Through Trust Supplement.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Escrow Release Date has the meaning set forth in Section 9.6.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Forbearance Termination Date means the earlier to occur of (i) the closing of a Transaction; (ii) October 31, 2001, or (iii) the date upon which the Forbearance Default occurs.

  • Ramp-Up Period means the period from and including the Effective Date to, but excluding, September 23, 2016.

  • Initial compliance period means the first full three-year compliance period which begins at least 18 months after promulgation, except for the following contaminants: Dichloromethane; 1,2,4-Trichlorobenzene; 1,1,2- Trichloroethane; Benzo[a]pyrene; Dalapon; Di(2-ethylhexyl adipate; Di(2-ethylhexyl) phthalate; Dinoseb; Diquat; Endothall; Endrin; Glyphosate; Hexachlorobenzene; Hexachlorocyclopentadiene; Oxamyl (Vydate); Picloram; Simazine; 2,3,7,8-TCDD (Dioxin); Antimony; Beryllium; Cyanide; Nickel; and Thallium, initial compliance period means the first full three-year compliance period after promulgation for systems with 150 or more service connections (January 1993 -December 1995) and first full three-year compliance period after the effective date of regulation (January 1996 - December 1998) for systems having fewer than 150 service connections.

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Notice-triggering PI means the PI identified in CCC § 1798.29(e) whose 25 unauthorized access may trigger notification requirements under CCC § 1709.29. For purposes of this 26 provision, identity shall include, but not be limited to, name, identifying number, symbol, or other 27 identifying particular assigned to the individual, such as a finger or voice print, a photograph or a 28 biometric identifier. Notice-triggering PI includes PI in electronic, paper or any other medium.