Exercise of Option Prior to a Dissolution Event Distribution Sample Clauses

Exercise of Option Prior to a Dissolution Event Distribution. To exercise its conversion expiration option prior to the distribution of Securities from NYB Trust to the holders of Capital Securities upon the occurrence of a Dissolution Event (a "Dissolution Event Distribution"), the Company shall give written notice to NYB Trust directing NYB Trust to issue the Press Release (as defined in Section 5(h) of Annex I of the Declaration), to cause the conversion rights of the holders of Capital Securities to expire. The Company shall also furnish a copy of such notice to the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent). If NYB Trust fails to issue the Press Release within two (2) Business Days after its receipt of such notice, the Company may, on behalf of NYB Trust, issue the Press Release in accordance with the provisions of Section 5(h) of Annex I of the Declaration. The conversion rights of the holders of the Securities shall terminate simultaneously with the termination of the conversion rights of the holders of the Capital Securities.
Sample 1
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Exercise of Option Prior to a Dissolution Event Distribution. To exercise its conversion expiration option prior to the distribution of Securities from the related Commonwealth Bankshares Capital Trust to the holders of the corresponding Trust Securities upon the occurrence of a Dissolution Event (a "Dissolution Event Distribution"), the Company shall give written notice to such Commonwealth Bankshares Capital Trust directing such Commonwealth Bankshares Capital Trust to issue the "Press Release" (as defined in Section 4.08(h)(ii) of the related Trust Agreement), to cause the conversion rights of the holders of Trust Securities to terminate. The Company shall also furnish a copy of such notice to the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent). If such Commonwealth Bankshares Capital Trust fails to issue the Press Release within two (2) Business Days after its receipt of such notice, the Company may, on behalf of such Commonwealth Bankshares Capital Trust, issue the Press Release in accordance with the provisions of Section 4.08(h) of the related Trust Agreement. The conversion rights of the Holders of the Securities shall terminate simultaneously with the termination of the conversion rights of the holders of the Trust Securities.
Sample 1
Exercise of Option Prior to a Dissolution Event Distribution. To exercise its conversion termination option prior the distribution of Securities from the Trust to the holders of Preferred Securities upon the occurrence of a Dissolution Event (a "Dissolution Event Distribution"), the Company must cause the Trust to issue a press release for publication on the Dow Jonex Xxxs Service or on a comparable news service prior to the opening of business on the second Trading Day after any period in which the conditions in Section 1311(a) have been met (provided that in no event may any such press release be issued prior to December 31, 1999), which press release must contain the information specified in paragraph 5(h) of Annex I of the Declaration; provided that, if the Trust fails to issue the press release as directed, the Company may, on behalf of the Trust, issue the press release in accordance with the provisions of the Declaration. The Company shall also furnish a copy of the press release to the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent). In addition, the Company shall cause a Notice of Conversion Termination (as defined below) to be given by first-class mail to the Holders of Securities, the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent) not more than four Business Days after the foregoing press release is issued, which Notice of Conversion Termination shall contain the information set forth in Section 1311(c). Upon compliance with the foregoing procedures, and provided that the Trust shall have complied with the corresponding procedures in the Declaration, the conversion rights of the Holders of the Securities shall terminate simultaneously with the termination of the conversion rights of the holders of the Preferred Securities pursuant to the Declaration. Prior to a Dissolution Event Distribution, the conversion rights of Holders may in no event terminate unless and until the conversion rights of holders of Preferred Securities shall have terminated in accordance with the Declaration.
Sample 1
Exercise of Option Prior to a Dissolution Event Distribution. To exercise its conversion expiration option prior to the distribution of Securities from the related Guaranty Capital Trust to the holders of the corresponding Trust Securities upon the occurrence of a Dissolution Event (a "Dissolution Event Distribution"), the Company shall give written notice to such Guaranty Capital Trust directing such Guaranty Capital Trust to issue the "Press Release" (as defined in Section 4.08(h)(ii) of the related Trust Agreement), to cause the conversion rights of the holders of Trust Securities to terminate. The Company shall also furnish a copy of such notice to the Trustee (and the Conversion Agent if the Trustee is not then serving as the Conversion Agent). If such Guaranty Capital Trust fails to issue the Press Release within two (2) Business Days after its receipt of such notice, the Company may, on behalf of such Guaranty Capital Trust, issue the Press Release in accordance with the provisions of Section 4.08(h) of the related Trust Agreement. The conversion rights of the Holders of the Securities shall terminate simultaneously with the termination of the conversion rights of the holders of the Trust Securities.
Sample 1

Related to Exercise of Option Prior to a Dissolution Event Distribution

  • Dissolution Event An event, the occurrence of which will result in the dissolution of the Company under Article XIV.

  • Dissolution Events The Company will be dissolved upon the happening of any of the following events:

  • Liquidation Event 22- Liquidation Proceeds................................................................-22- Loan-to-Value Ratio.................................................................-22-

  • Dissolution Winding Up Termination 27 8.1 Dissolution.......................................................................27 8.2

  • Subsequent Acquisition of Shares Any Equity Securities of PubCo acquired subsequent to the Effective Date by a Holder shall be subject to the terms and conditions of this Investor Rights Agreement and such shares shall be considered to be “Registrable Securities” as such term is used in this Investor Rights Agreement.

  • Effect of Bankruptcy, Withdrawal, Death or Dissolution of a General Partner (a) Upon the occurrence of an Event of Bankruptcy as to a General Partner (and its removal pursuant to Section 7.4(a) hereof) or the death, withdrawal, removal or dissolution of a General Partner (except that, if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to, or removal of a partner in, such partnership shall be deemed not to be a dissolution of such General Partner if the business of such General Partner is continued by the remaining partner or partners), the Partnership shall be dissolved and terminated unless the Partnership is continued pursuant to Section 7.3(b) hereof. The merger of the General Partner with or into any entity that is admitted as a substitute or successor General Partner pursuant to Section 7.2 hereof shall not be deemed to be the withdrawal, dissolution or removal of the General Partner.

  • Procedures to Exercise the Fundamental Change Repurchase Right (a) To exercise its Fundamental Change Repurchase Right for a Bond following a Fundamental Change, the Holder thereof must deliver to the Company:

  • Early Dissolution The first to occur of any of the following events is an "Early Dissolution Event," upon the occurrence of which the Trust shall dissolve:

  • Liquidation Events (a) In the event of (i) any Casualty to all or any all or any portion of the Property, (ii) any Condemnation of all or any portion of the Property, (iii) a Transfer of the Property, other than a Transfer in accordance with Section 5.2.10(f) pursuant to which the Loan is assumed by the transferee, (iv) any refinancing of the Property or the Mortgage Loan, or (v) the receipt by Mortgage Borrower of any excess proceeds realized under its owner’s title insurance policy after application of such proceeds by Mortgage Borrower to cure any title defect (each, a “Liquidation Event”), Borrower shall cause the related Net Liquidation Proceeds After Debt Service to be deposited directly into the Mezzanine Cash Management Account. On each date on which Lender actually receives a distribution of Net Liquidation Proceeds After Debt Service, Borrower shall prepay the Outstanding Principal Balance in an amount equal to one hundred percent (100%) of such Net Liquidation Proceeds After Debt Service, together with interest that would have accrued on such amount through the next Payment Date. Any amounts of Net Liquidation Proceeds After Debt Service in excess of the Debt shall be paid to Borrower. Any prepayment received by Lender pursuant to this Section 2.4.4(a) on a date other than a Payment Date shall be held by Lender as collateral security for the Loan in an interest bearing account, with such interest accruing to the benefit of Borrower, and shall be applied by Lender on the next Payment Date. Other than following an Event of Default, no Prepayment Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.4(a)(i) or (ii).

  • Distribution upon Dissolution Upon dissolution, the Partnership shall not be terminated and shall continue until the winding up of the affairs of the Partnership is completed. Upon the winding up of the Partnership, the General Partner, or any other Person designated by the General Partner (the “Liquidation Agent”), shall take full account of the assets and liabilities of the Partnership and shall, unless the General Partner determines otherwise, liquidate the assets of the Partnership as promptly as is consistent with obtaining the fair value thereof. The proceeds of any liquidation shall be applied and distributed in the following order:

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