Common use of Trigger Date Clause in Contracts

Trigger Date. Section 3.4(a) is amended and restated in its entirety as follows: (a) In the event that, at the end of any Fiscal Quarter (the "Trigger Date") commencing with the Fiscal Quarter ending on December 31, 1997, the Borrower shall fail to maintain an Interest Coverage Ratio of 2.5 to 1.0 or a Preferred Debt Service Coverage Ratio of 2.0 to 1.0, such failure shall not constitute an Event of Default if and for as long as (i) the Borrower shall maintain an Interest Coverage Ratio of not less than 2.0 to 1.0 and a Preferred Debt Service Coverage Ratio of not less than 1.5 to 1.0 and (ii) the Borrower shall or shall cause Sunstone or the Eligible Hotel Owners (as applicable) to execute and deliver to the Administrative Agent with respect to each of the Eligible Hotels (A) within seventy-five (75) days of the Trigger Date, the documents set forth in Section 3.4(b) and (B) within 135 days of the Trigger Date, the documents set forth in Section 3.4(c).