Cash Sweep Period definition

Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

Cash Sweep Period shall have the meaning assigned to such term in the Senior Subsidiary Security Agreement.

Cash Sweep 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 Cash Sweep Period continuing pursuant to clause (i), the Event of Default commencing the Cash Sweep 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 Cash Sweep Period continuing due to clause (ii), the Low Debt Yield Period has ended pursuant to the terms hereof.

Examples of Cash Sweep Period in a sentence

• Following the Excess Cash Sweep Period, the Issuer will make Excess Cash Payments to Holders from time to time on the same date that any distribution is made to the Issuer Shareholder in an amount equal to the Instrument Distribution Percentage of the applicable Excess Cash Available Amount on the terms and subject to the terms and conditions set forth below.

• During the Excess Cash Sweep Period, if the Excess Cash Amount exceeds zero on an Excess Cash Measurement Date, the Issuer will make payments under the Securities to the Holders equal to a percentage of the applicable Excess Cash Available Amount in accordance with the terms and conditions set forth below (it being understood that certain percentages of the Excess Cash Available Amount will also be available for distributions to holders of the New Notes and to the Issuer Shareholder, as applicable).

• During the Excess Cash Sweep Period, Excess Cash Payments shall be payable to Holders on an annual basis, on May 15 following each relevant Excess Cash Measurement Date.

• If this Agreement is terminated or any of the Accounts or, to the extent applicable, Lockboxes, are closed at any time while a Notice of Cash Sweep Period is in effect, Truist shall remit the proceeds of the Accounts or such Account being closed, as well as any Lockbox Collateral remaining in such Lockboxes on the date of such termination or closure, as directed by Secured Party, all in accordance with Truist’s standard policies and procedures then in effect.

• Upon termination of any Cash Sweep Period, funds in the Cash Sweep Cash Collateral Account shall be released to the Concentration Account within three Business Days after the end of such Cash Sweep Period.

More Definitions of Cash Sweep Period

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

Cash Sweep Period means the period from and after a Cash Sweep Event until a Cash Sweep Cure has occurred.

Cash Sweep Period means the period commencing on the date upon which the Debt Service Coverage Ratio for the Property, as reasonably determined by Lender on a quarterly basis, for the immediately preceding twelve (12) month period is less than 1.15 to 1.00, and ending on the date the Debt Service Coverage Ratio equals or exceeds 1.20 to 1.00 for the immediately preceding twelve (12) month period.

Cash Sweep Period means the period commencing on the first day of the calendar month following the date on which Lender notifies Borrower of its determination that the Debt Yield is less than seven and three-quarters percent (7.75%) for the immediately preceding twelve (12) month period and ending on the earlier of (i) last day of the calendar month during which Lender notifies Borrower of its determination that the Debt Yield is greater than or equal to seven and three-quarters percent (7.75%) for the immediately preceding twelve (12) month period for two (2) consecutive calendar quarters or (ii) receipt by Lender of a Cash Sweep Cure Payment.

Cash Sweep Period means the period of time from and after any Cash Sweep Trigger Date and continuing though the date five (5) Business Days following the occurrence of any Cash Sweep Termination Date.

Cash Sweep Period means any period in which funds are transferred from (a) any Blocked Account to the Concentration Account or any Citibank Concentration Account, as applicable, pursuant to a Blocked Account Cash Sweep Notice or (b) the Concentration Account to any Citibank Concentration Account pursuant to a Concentration Account Cash Sweep Notice.

Cash Sweep Period shall have the meaning set forth in the Cash Management Agreement.