Cash Sweep Period

Cash Sweep Period. A period commencing upon the earlier of (i) the occurrence and continuance of an Event of Default, (ii) the occurrence of a DSCR Trigger Event or (iii) the occurrence of a Supertel Trigger Period, which such Cash Sweep Period shall expire (A) with regard to any Cash Sweep Period commenced in connection with clause (i) above, upon the cure (if applicable) of such Event of Default (provided that a Cash Sweep Period is not continuing pursuant to clause (ii) or (iii) above), (B) with regard to any... Cash Sweep Period commenced in connection with clause (ii) above, upon the date that the Actual Debt Service Coverage Ratio is equal to or greater than 1.35 to 1.00 for three (3) consecutive calendar months (provided that a Cash Sweep Period is not continuing pursuant to clause (i) or (iii) above) or (C) with regard to any Cash Sweep Period commenced in connection with clause (iii) above, upon the Supertel Trigger Period ceasing to exist in accordance with the terms hereof (provided that a Cash Sweep Period is not continuing pursuant to clause (i) or (ii) above) View More

Cash Sweep Period. Means any period which commences upon the occurrence of an Event of Default and continues until such time, if any, as (A) Lender shall have, in its sole and absolute discretion, waived in writing the Event of Default giving rise to such Cash Sweep Period or (B) Borrower shall have tendered a cure of the Event of Default giving rise to such Cash Sweep Period and Lender shall have, in its sole and absolute discretion, accepted such cure. Lender will provide Notice of the commencement and... termination of a Cash Sweep Period as provided in the Clearing Accounts Agreement. View More