Springing Hard definition

Springing Hard means that a Lockbox is not in use at closing, but upon occurrence of a trigger event, as defined in the related loan documents, each tenant will be required to transfer its rent directly to the Lockbox account.
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Examples of Springing Hard in a sentence

  • Borrower shall enter into that certain Cash Management Agreement (Springing Hard) dated as of even date herewith (the “Cash Management Agreement”) among Borrower, Lender, as “Lender”, and Lender, as “Depository,” which shall govern the collection and disbursement of all Gross Income (as defined in the Cash Management Agreement).

Related to Springing Hard

  • Anti-Ragging Helpline means the Helpline established under clause (a) of Regulation 8.1 of these Regulations.

  • Exit Management Date means each of the following:

  • Management Group means at any time, the Chairman of the board of directors, the Chief Executive Officer, the President, any Managing Director, Executive Vice President, Senior Vice President or Vice President, any Treasurer and any Secretary of Holdings or other executive officer of Holdings or any Subsidiary of Holdings at such time.

  • Nursing home administrator or "administrator" means any individual who is charged with the general administration of a nursing home, whether or not such an individual has an ownership interest in such home and whether or not the functions and duties are shared with one or more other individuals.

  • Management Director means a Person selected in accordance with Article IV of this Agreement who shall have the powers and duties to manage the business and affairs of the Company and exercise its powers to the extent set forth in this Agreement, the Certificate and the Act. Each Management Director shall be a “manager” of the Company within the meaning of the Act.