Option to Purchase: Pari Passu Creditors Sample Clauses

Option to Purchase: Pari Passu Creditors. (a) Subject to the provisions of this Clause 5.1, one or more of the Pari Passu Noteholders and/or Pari Passu Lenders may, at any time, if and for so long as an Event of Default is continuing, provide a written instruction (together with evidence of its holding of a Pari Passu Credit Participation in form satisfactory to the Security Agent) (a “Super Senior Buyout Instruction”) to the Security Agent and NAC DAC (and NAC DAC shall upload such instruction to the VDR promptly and in any case no later than the next Business Day) that it or they intend to exercise its or their right to purchase all, but not part, of the rights, benefits and obligations in respect of the Super Senior Liabilities in accordance with this Clause 5.1.
Sample 1
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Option to Purchase: Pari Passu Creditors. (a) Subject to paragraph (b) below, the Pari Passu Creditors (or any of them) (the “Purchasing Pari Passu Creditors”) may at any time following the occurrence of a Distress Event, by giving not less than ten days’ notice to the Common Security Agent, require the transfer to them (or to a nominee or nominees), in accordance with any Equivalent Provision in a Super Senior Facility Agreement to section 10.07 (Successors and Assigns) of the Senior Secured Term Facilities Agreement, of all, but not part, of the rights, benefits and obligations in respect of the Super Senior Facility Liabilities (“Liabilities Transfer”) if:
Sample 1
Option to Purchase: Pari Passu Creditors. (a) Subject to paragraphs (b) and (c) below, a Senior Agent and/or a Senior Secured Notes Trustee (on behalf of one or more of the Pari Passu Creditors) (the "Purchasing Pari Passu Creditors") may after the occurrence of a Super Senior Material Event of Default, by giving not less than ten (10) days' prior written notice to the Security Agent, require the transfer to the Purchasing Pari Passu Creditors (or to a nominee or nominees), in accordance with Clause 19.2 (Change of Secured Creditors), of all, but not part, of the rights, benefits and obligations in respect of the Super Senior Lender Liabilities if:
Sample 1

Related to Option to Purchase: Pari Passu Creditors

  • Option to Purchase Subject to Section 3.5, the Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to purchase any or all owned Bank Premises, including all Furniture, Fixtures and Equipment located on the Bank Premises. The Assuming Institution shall give written notice to the Receiver within the option period of its election to purchase or not to purchase any of the owned Bank Premises. Any purchase of such premises shall be effective as of the date of Bank Closing and such purchase shall be consummated as soon as practicable thereafter, and in no event later than the Settlement Date. If the Assuming Institution gives notice of its election not to purchase one or more of the owned Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for such Bank Premises and associated Fixtures, Furniture and Equipment.

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