Trigger Period definition

Trigger Period means the 60-day period commencing on the earlier of (i) the occurrence of a Change of Control or (ii) the first public announcement of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control (which Trigger Period will be extended so long as the ratings of the Notes are under publicly announced consideration for possible downgrade by any two of the three Rating Agencies); provided that the Trigger Period will terminate with respect to each Rating Agency when such Rating Agency takes action (including affirming its existing ratings) with respect to such Change of Control.

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Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control.

Examples of Trigger Period in a sentence

• Within fifteen (15) days after the commencement of any Trigger Period and for so long as any Trigger Period continues, each Borrower shall submit to Lenders the Annual Budget for the succeeding twelve (12) calendar month period.

• Following written request by Borrowers after a Trigger Period ends, and provided that no new Trigger Period then exists, Required Lenders shall direct the Cash Management Account Bank to release Cash Collateral Funds to, or at the direction of, Borrowers.

• Without the prior written consent of Required Lenders, no Borrower nor a Manager shall terminate, amend, revoke or modify any Tenant Direction Letter or other direction letter in any manner whatsoever, or direct or cause any Tenant or other source of Collections to pay any amount in any manner other than as provided in such Tenant Direction Letter or other direction letter, whether or not a Trigger Period is continuing.

• During any Trigger Period, but subject to Collateral Agent’s and ▇▇▇▇▇▇▇’ respective paramount rights during an Event of Default described in Section 7.4.2, all Available Cash (after payment of the Monthly Budgeted Amount and any Approved Extraordinary Operating Expenses) shall be deposited in the Cash Management Account to be held for the benefit of Collateral Agent, for the benefit of Lenders, as cash collateral for the Obligations (the “Cash Collateral Reserve”).

• Each Borrower hereby grants to Lenders an irrevocable power of attorney, coupled with an interest, to execute and deliver to Tenants and other sources of Collections such Tenant Direction Letters and other direction letters during the continuance of a Trigger Period.

More Definitions of Trigger Period

Trigger Period means the 60-day period commencing on the earlier of (i) the occurrence of a Change of Control or (ii) the first public announcement of the occurrence of a Change of Control or the Guarantor’s intention to effect a Change of Control (which Trigger Period will be extended so long as the ratings of the Notes are under publicly announced consideration for possible downgrade by any two of the three Rating Agencies); provided that the Trigger Period will terminate with respect to each Rating Agency when such Rating Agency takes action (including affirming its existing ratings) with respect to such Change of Control.

Trigger Period shall have the meaning set forth in the Mortgage Loan Agreement.

Trigger Period shall commence upon the occurrence of (i) an Event of Default or (ii) the commencement of a Low Debt Yield Period; and shall end if, (A) with respect to a Trigger Period continuing pursuant to clause (i), the Event of Default commencing the Trigger Period has been cured and such cure has been accepted by Lender (and no other Event of Default is then continuing) or (B) with respect to a Trigger Period continuing due to clause (ii), the Low Debt Yield Period has ended pursuant to the terms hereof.

Trigger Period has the meaning assigned to such term in the definition of Change of Control Triggering Event.

Trigger Period means, with respect to any Change of Control, the 30-day period (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control; or (2) public notice of the occurrence of a Change of Control or the intention by the Company to effect a Change of Control.

Trigger Period shall have the meaning assigned to it in Section 1.1(e)(vi).

Trigger Period means the period commencing on the earlier of the first public notice of (a) the occurrence of a Change of Control or (b) the Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control (which period shall be extended so long as the rating of the 2022 Senior Notes is under publicly announced consideration for a possible downgrade by either of the Rating Agencies).