Commencement of Liquidation Sample Clauses

Commencement of Liquidation. If (ii) applies then the Loan and all accrued interest thereon will be satisfied by the issue of Convertible Preference Shares to the Crown pursuant to clause 1.2.1 of this Agreement. Acceleration Date The working day on which the Crown requires the Loan, together with all accrued interest and other amounts, to be repaid following the occurrence of an Acceleration Event. Interest Rate The 90 day bank xxxx mid rate at or about 10.45am on the Drawdown Date plus 400 basis points. Interest Interest will accrue at the Interest Rate from (and including) the Drawdown Date to (but excluding) the Repayment Date and will be payable on the Repayment Date unless the Crown subscribes for Convertible Preference Shares in which case Air NZ’s obligation to pay accrued interest will be satisfied by the issue of Convertible Preference Shares to the Crown pursuant to clause 1.2.1 of this Agreement. Acceleration Events The following events will be Acceleration Events:
Sample 1
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Commencement of Liquidation. The commencement of liquidation of Air NZ or any material subsidiary under section 241(5) of the Companies Xxx 0000, or the removal of Air NZ from the register under part XVII of the Companies Xxx 0000, or the appointment of a statutory manager in respect of Air NZ or any material subsidiary under the Corporations (Investigation and Management) Xxx 0000, or any equivalent or analagous step occurring under the laws of any other jurisdiction, but this provision does not apply to any member of the Ansett Group or the Xxxxxxxx Group or Ansett International Limited or any of its subsidiaries. Distributions Air NZ is to make no distribution (as defined in the Companies Act 1993) to any shareholder while the Loan or any interest or other amount payable in respect of the Loan remains unpaid. Information Air NZ will provide to the Crown and its advisers:
Sample 1

Related to Commencement of Liquidation

  • Commencement of Agreement (1) This Agreement shall come into operation upon the first day of the calendar month following the date upon which the later of the following events occurs—

  • Commencement of Leave Parental leave must commence no later than the first anniversary date of the birth or adoption of the child or of the date on which the child comes into the actual care and custody of the employee. The employee will decide when his or her parental leave is to commence.

  • Commencement of Coverage Coverage under the provisions of this article shall apply to regular full-time and regular part-time employees who work 15 regular hours or more per week and shall commence on the first day of the calendar month immediately following the completion of the employee's probationary period.

  • Commencement of charges The Retailer is liable to pay charges in respect of an ICP from:

  • COMMENCEMENT, DURATION AND TERMINATION 2.1. Cavendish Communications shall provide or arrange for the provision of Wholesale Line Rental Services for the Minimum Term from the date the Lines are connected and operative (“Commencement Date”).

  • Commencement of Final Design This contract does not obligate the State to proceed with final design for any alternative. On completion of environmental documentation, the State will consider all reasonable alternatives in a fair and objective manner. Notwithstanding anything contained elsewhere in the contract or in any work authorization, the Engineer may not proceed with final design until after all relevant environmental decision documents have been issued.

  • Commencement This Act comes into operation on the day on which it receives the Royal Assent 1.

  • Commencement and Termination 10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Commencement of Grid Rate 5.2.1 Number of days to go on grid: A substitute teacher employed for more than four (4) consecutive school days as a replacement for a specific teacher shall be placed on the basic salary schedule on the fifth (5th) consecutive school day according to the substitute teacher's qualifications and experience.

  • Commencement of Negotiations Within five (5) days of satisfaction of the public notice requirement, and not later than forty-five (45) days following submission of the proposal, negotiations shall commence at a mutually acceptable time and place for the purpose of considering changes in this Agreement.

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